One BBP: 100 Contracts in 100 Days
At least week’s real estate round table, Robert Levine gave an upbeat update on his firm’s progress at 449-unit One Brooklyn Bridge Park. As of next week, they will gone into contract on 100 units in 100 days (how convenient for marketing purposes!). The average price on units in contract so far? More than $1,000…
At least week’s real estate round table, Robert Levine gave an upbeat update on his firm’s progress at 449-unit One Brooklyn Bridge Park. As of next week, they will gone into contract on 100 units in 100 days (how convenient for marketing purposes!). The average price on units in contract so far? More than $1,000 per square foot. Contracts that have gone out in the last couple weeks have been at above $1,100 per square—that’s after seven price increases since sales launched in April. Perhaps most amazingly, Levine reported that some non-waterfront units have gone in the $1,200 to $1,300 range. In addition to a 500-space public parking facility being constructed, there are 132 condo parking spaces that are now selling for $170,000 (a bargain compared to the rooftop cabanas in Dumbo). As of now, they’re targeting first move-ins in late October or early November. Demolition on the park is expected to start in 6 to 8 weeks and 85 to 90 percent of the park is scheduled to be complete by 2010, according to Levine. As for the controversial tower to be built in the park, Levine said he didn’t think the RFP would happen anytime soon.
Wanna See One BBP? Get In Line [Brownstoner] GMAP
Stribling Sells Herself Two Penthouses at 1BBP [Brownstoner]
‘Park’ Condos Selling Fast [Brooklyn Paper]
Clearly visible on the website there is a $650sq ft on 4th floor highway side.
And another above $1000 sq ft sw corner which should have great views (8th floor I think).
To me construction seems to be moving quickly. But I’m not a construction person and just an ordinary observer unlike the other experts here.
I certainly do not believe some of the weird comments posted here.
….Humidity?
I do not believe anything I hear about this development. I think there has been a lot of horse-trading within the RE community. And I think there has been a lot of hype.
I have a friend that was there last week and told me that he was offered a unit at around $850 a foot. I told him that that was impossible, because I was there the first day and they were offering BQE views in the back part of the H at $1200 a foot.
Price chopping or what? Sounds like a lot of hype to me.
Considering the more desirable units probably went first, its not that surprising to me that 100 units sold that quickly. It would be interesting to see if that $1000+ psf holds for the remaining 300+ units
1:17: had exactly the same experience. liked the building very much BUT the windows start right too high to see out of while seated or — if you’re 5’5″ like me — if you’re standing more than 5 feet away. Closer up, the fat beams hit right at my eye level.
btw, my sales person said they were 20% sold out. this was on my last visit 2 weekends ago.
and hey, while I think 100 units is a LOT, don’t you think a developer would want to sell more than 20-25% in first 3 months? At this pace they won’t be half sold when closings begin
I’m surprised only 100 sold with all the hype when it first went on the market…. Is that good sales?
It is a very unique location and view if you can afford the units facing the water, and with terrace would be great because the windows are pretty high. But lot of the units facing BQE and very noisy (despite what the NYT said few months ago). The common charges are high too, so not sure if it’s worth it.
i spent a lot of time looking at this building, which is marvelous, the views: priceless and the cheap pricing provides good upside potential. one can truly afford to get a ton of space here and even a cabana and parking and all for far less than a smaller space in manhattan. they will even let you buy 2 units and combine – very flexible. where else can you find these views and quality of remodeling for such a great price per sqft? (if anyone knows please tell) The issue: the facade of the building cannot be touched – meaning the small square windows looking out onto the harbor with thick metal cross beams remain as it. The thick beams happen to be exactly at eye level – so to get your gorgeous view you either need to bend down or stand on your toes. for me that was a deal-breaker which is too sad.
I looked at this project a couple of weeks ago and the broker told me it was almost 50% sold and now i hear 100 of 449 have been sold quite a big difference. My point is never believe what the the broker tells you. They will tell you anything to get you suckered in. having said that we had been considering this building but based on whats happening in the market now, we’ll just wait and wait.