Checking In On The Factory Lofts
According to a post on Curbed last month, the developer behind The Factory Lofts at 66 North 1st Street has gone bust, a theory supported, though, not confirmed, by the fact not a single apartment (out of 21 in the building) is showing up as sold on StreetEasy. (The project’s website has also gone down…
According to a post on Curbed last month, the developer behind The Factory Lofts at 66 North 1st Street has gone bust, a theory supported, though, not confirmed, by the fact not a single apartment (out of 21 in the building) is showing up as sold on StreetEasy. (The project’s website has also gone down and we’ve also heard that the developers have been incommunicado.) Which is too bad, as far as we’re concerned. We love the original building and the addition, though Scarano-designed, worked fine in our view. The flop is in sharp contrast to the booming sales at another conversion project, Mason Fisk.
66 North 1st Street Lisings [StreetEasy] GMAP
Development Watch: Sky’s the Limit on North 1st [Brownstoner]
Williamsburg’s Factory Lofts Takes Ball, Goes Home [Curbed]
Chop the price in 1/2, the building will fill up overnight.
I have not been in there, but I’m having a hard time imagining 21 units in a building this size. The addition is not bad in my mind either, though some of the other work ain’t so hot. I particularly dislike the way they redid the base of the building – you are left with two stories of historic building sandwiched between an aluminum base and a two-story addition.
As far as I can tell from the tiny postage stamp photos, these lofts are a billion times better than most. For one thing, they’re real.
So does this mean nobody liked them or they were too expensive? Or did the developer go bust before they could sell anything?