Brooklyn Can Finally Get Down With OPP
Starting this week, Brooklynites will have a chance to visit the sales office for On Prospect Park right here in Brooklyn. The development, which has been on the market since October 2006, has only had a sales center in Tribeca, but there’s now going to be one on-site at the Richard-Meier designed condo, according to…
Starting this week, Brooklynites will have a chance to visit the sales office for On Prospect Park right here in Brooklyn. The development, which has been on the market since October 2006, has only had a sales center in Tribeca, but there’s now going to be one on-site at the Richard-Meier designed condo, according to Mario Procida, a principal of SDS Procida Development Group, which is developing On Prospect Park along with Gordon Group Holdings. The building is about 40 percent sold, says Procida. “I’d like to tell you that we were all sold out, but that wouldn’t be true,” he says. “Sales haven’t been spectacular, but they’ve been good, and we’re pretty happy with them.” Procida says the development is more or less “hitting its numbers,” sales-wise. The condo is still under construction and should be ready for move-ins this fall. There’s been quite a bit of demand for bigger units at the development, and Procida says a few buyers have purchased multiple units in order to combine them; his team has also combined some units to give prospective buyers larger layouts. “We started out with about 114 units and now we have around 100,” he says. Procida says he thinks OPP sales will pick up with the on-site sales office and because the building is near completion. “People are looking for more immediate product,” he says. According to StreetEasy’s OPP page, the priciest listing in contract is a $3 million, 2,470-square-foot two-bedroom and the most expensive unsold unit is a 3,408-square-foot four-bedroom duplex penthouse.
On Prospect Park Listings [Corcoran]
More Mega-Units at Meier’s OPP [Brownstoner] GMAP
Using Meier to Sell Brooklyn to Manhattanites [Brownstoner]
Wide Price Per Square Foot Range at OPP [Brownstoner]
12:40 should be referred to as On Drugs, or OD for short. Not to be confused with Next to Drugs, Kinda Near Drugs or Around the Circle from Drugs.
“Just wait until there are 100 different window treatments. Or pieces of furniture up against the window.”
The window treatments ARE regulated. As for furniture next to windows, between the reflection on the glass and distance from the park (that’s the way most people will view this building, from the park) it won’t stand out as much as that. I don’t see how it’s a big concern aesthetically.
This building is not on Prospect Park. It should have been called Next to Prospect Park. NPP for short. Or Kinda Near Prospect Park. Which is more fancy, KNPP not to be confused with KPMG. Or Around the Circle from Prospect Park. ACPP not to be confused with AARP.
Gorgeous building! Can’t wait to see it completed.
From an investor standpoint, I think in the long run these will hold (and ultimately increase in) their value better than any other new building currently in the Borough.
If I’m betting on this vs. a $1,200 psf condo in Carroll Gardens (or just about any other neighborhood), I’ll take this in a heartbeat. As an investor, I would take One Brookyn Bridge as a close second. However, it is wouldn’t be my #1 or #2 condo of choice as a residence.
It’s certainly, as Jerri said, a special property attracting a special clientele. For fun (and not to compare), I noted that the penthouse at 795 Fifth Avenue (the Pierre) is still on the market after 882 days – yes, some places are not targeted to everyone…
There are $1200 sq/ft condos in Carroll Gardens. Yeah, it’s true.
http://curbed.com/archives/2008/01/31/development_du_jour_116_3rd_place.php
I agree…1100 psf is a lot of money. But I also think this is the nicest new property in Brooklyn.
40 units out of 100 is not bad considering the prices. Did you see that Corcoran link which lists the apts. already sold? Those are some hefty numbers that people have plunked down to live there. Surprising actually.
This place is a special property and attracts a special clientele. It’s not for everyone so it takes a while to find those who would be interested in buying one.
This is like buying a $5,000 purse. They aren’t going to stock 1000 of them at Target. There is maybe one or two in the Madison Avenue boutique and it might sit there for a while till someone comes in and falls in love with it.
I think the onsite sales office will help enormously. It’s difficult to see this building and not be at least mildly taken with it, the location and the views.
Actually, 11:34, I was told that window treatments are regulated, perhaps by the by-laws.
Jerri – weren’t the vermeil sales all two bed and up? 11:12 was referring to the horribly overpriced one bedrooms at OPP, and his point was that the people buying $1m plus apartments these days want more space to they can expand their families.
I guess OPP could combine more units, but I don’t think that will solve the problem. $1100 sq/ft is very expensive for Brooklyn no matter how big the apartment or how nice the building is.