One Hanson Update: Smaller Units Selling Best So Far
After combining some units on the upper floors recently, One Hanson Place now has a total of 178 units, 101 of which have contracts signed on them, according to the update given by project manager Kristin Neil last week at the real estate roundtable luncheon at the Brooklyn Historical Society. Interestingly, the smallest units have…
After combining some units on the upper floors recently, One Hanson Place now has a total of 178 units, 101 of which have contracts signed on them, according to the update given by project manager Kristin Neil last week at the real estate roundtable luncheon at the Brooklyn Historical Society. Interestingly, the smallest units have sold the best so far: Of the apartments that have come on the market to date, 100 percent of studios are sold compared to 75 percent of one bedrooms and 50 percent of two bedrooms. The biggest unit in the building won’t be on the market until the fall: The developer has combined four full floors in the clock tower to make one giant townhouse in the sky. The price is anybody’s guess, but we won’t be surprised to see a 20-handle on it.
As for the demographics of buyers, 45 percent have been from Brooklyn and 31 percent from Manhattan. The developer is projecting an average sales price of $900 per square foot when all is said and done, though they’ve been getting in the $1,300 to $1,400 range on the upper floors so far. (It’s not all peaches and cream though: Remember that there have been a bunch of price cuts on one- and two-bedrooms in recent months.) As for the switch from Corcoran to Stribling, the explanation was that Corcoran was used during initial phase that focused on the smaller units; Stribling’s being called to go after the bigger fish. And speaking of big fish, it’s not looking like Magic Johnson, who lent his famous mug to the project early on, will be ponying up for a condo himself.
Available Apartments [One Hanson] GMAP
So that’s what they have done with that building? What a travesty. It’s a lovely building architecturally, but who wants to live so centrally on Flatbush Ave? Talk about no peace of mind…
the store never opened gumby.
nice try, though.
i think the word you were looking for 12:05 was not slick.
it’s sick.
My girlfriend’s brother works for Borders and says that it was indeed because of Atlantic Yards. He says that they are indeed going through a restructuring at the moment, but that is merely incidental. They closed this particular store because of AY.
Ah, thank you!
OK, now that I know what number we’re talking about, that’s insane!
20 handle
handle is the # before all the 000,000’s
so 20 handle = 20 million
The anit-AY people think they’re pretty slick lol…Dave is correct. Border’s backed out because the company is having financial issues and has considered closing/delaying other locations as well.
According to Neil, Borders backed out because they were going through some company-wide restructuring and they had essentially backed out of all new stores around the country until the restructuring is done. Nothing to do with AY. Actually, for a retailer, the extra foot traffice from the arena and the 7,000 residential units would be a big plus, not a minus. Isn’t there currently a Borders across the street from MSG? I don’t think Borders has an aversion to be near an arena at all.
Maybe I’m missing something glaringly obvious, but what’s a 20-handle?
Yeah, Borders pulling out must be about AY.
It couldn’t possibly have anything to do with them losing money for over a year and closing a bunch of stores.