Brooklyn Condos Being Bought By...Brooklynites
Contrary to what many people assumed, current Brooklyn residents, rather than their brethren across the East River, are driving the sales of new condominiums in their own borough. According to the Daily News, Brooklynites have been the biggest buyers in some of the most high-profile conversions and new developments in recent months. At 110 Livingston,…
Contrary to what many people assumed, current Brooklyn residents, rather than their brethren across the East River, are driving the sales of new condominiums in their own borough. According to the Daily News, Brooklynites have been the biggest buyers in some of the most high-profile conversions and new developments in recent months. At 110 Livingston, for example, where 90 percent of the units are sold, almost 60% of the buyers were from Brooklyn. At One Hanson Place, which is 55 percent sold, 48 percent of buyers have been from Brooklyn, compared to only 34 percent from Manhattan. Even at Richard Meier’s OPP, Brooklyn rezzies have held their own against Manhattanites (40 percent each). And at One Brooklyn Bridge Park, 56 percent of prospective buyers have been from Brooklyn. One exception to this trend has been Northside Piers in Williamsburg, where just 21 percent of buyers have been from Brooklyn. As Highlyann Krasnow of The Developers Group points out, though, the figures may be slightly misleading. She hypotheizes that many of the new condo buyers lived in Manhattan until very recently, perhaps renting a place for a year or two in Brooklyn to test the waters before committing to ownership. Seems like a reasonable theory to us.
Condo Sales Stunner [NY Daily News]
Photo by jschinn
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I don’t think anyone moves to Brooklyn to “test the waters” that’s an idiotic statement. It just so happens that people already here in Brooklyn are buying at these new developments.
Oh I think that you’re going to just love One Hanson! Welcome to Brooklyn!
Count me as a Manhattan transfer. Just bought at One Hanson after 10 years renting in Manhattan. Can’t wait to move to Brooklyn!
Even the trashiest fedders building is marketed as a ‘luxury condo’ My husband and I laugh whenever we see one of those ugly boxes with the inevitable ‘luxury condo’ sign out front.
how does a guy trying to make ends meet afford a $650K mortgage? if you know, please let me know! most people who seem middle class and afford such mortgages are usually getting help from family.
I should say though that these days I don’t know where to draw the line. My friend just bought a two story house in East New York for $650,000. I generally think of him as a guy that is trying to make ends meet and I generally think of $650,000 as a lot of money.
I didn’t mean this building. I think of this as a luxury building. I was speaking generally of all the new building.” Affordable” being the buildings that this site refers to as Fedders- the boxy ones. There seem to be many of them going up. I think of One Hanson, the Richard Meier building and the other one by BAM as “luxury”.