Price Increases at One Brooklyn Bridge Park
On Friday StreetEasy recorded slight price increases on about a dozen units listed for sale at One Brooklyn Bridge Park. For example, a 1,020-square-foot unit went from asking $965,000 to being listed for $995,000; the same condo was originally listed for $1,300,000 in 2008. Most of the prices bumps were 3 or 5 percent. The…
On Friday StreetEasy recorded slight price increases on about a dozen units listed for sale at One Brooklyn Bridge Park. For example, a 1,020-square-foot unit went from asking $965,000 to being listed for $995,000; the same condo was originally listed for $1,300,000 in 2008. Most of the prices bumps were 3 or 5 percent. The massive conversion was nearing the half-sold mark last summer.
One Brooklyn Bridge Park [StreetEasy] GMAP
bobbyi, your post is a perfect example of why most all message boards are useless for real research (they function mostly for entertainment value). Doubt you, or most of the negative posters, have ever seen set foot in the building.
Galbklyn, sorry to hear about your situation, which many people found themselves in. It’s not a good situation for anyone – buyer or seller. But I find it curious that you contend that Levine was not acting in good faith. You signed a contract, no doubt without contingencies, and the terms of that contract were enforceable. If the market continued to soar, would you have accomodated Levine by renegotiating the price of your unit to a higher price to reflect the increase in value? Of course not. I certainly think it would have made sense for Levine to have worked with you to renegotiate the contract, but it is not bad faith to seek to enforce the terms of a contract. And if one of approximately 230 sold units is in foreclosure (and that’s a big if), what’s the point?
I also disagree that the property had no hope of “regaining value ever.” The prices are already substantially higher then the lows from Oct. 2010. Harbor facing units have recently sold for $1000/aq ft. As the Park continues to be completed and the building continues to sell, prices are likely to continue to climb. It may be a long road back to what your contract price was, but there certainly was and has been gains in value at OBBP.
Way too many brokers who rep this building have posted on this thread. You know who you are, and frankly you’re not fooling anybody. This place Was a piece of shit in 2008 and now it’s a piece of shit with a price increase.
I went into contract at the height of the market (I know), but pulled out when due to close (Oct 2008) because of the following: (1) refusal of developer to lower the price despite the market crash and an obvious reduction in value; (2) question on whether the bank would appraise the apartment other then what the developer wanted; (3) no where near 50% sold threshold (I remember closer to 15%) and an abject refusal by Levine to negotiate; (bank also was playing fast and loose with lending requirements throughout…).
Left lots of cash on the table, but that was better then facing years of paying off a loan on a property that had no hope of regaining value. EVER.
All in all a complete nightmare, mainly because I was dealing with people not acting in good faith. fyi – I understand one of the apartment is in foreclosure.
“what a horrible, horrible, horrible place to live?” spoken like a true hater. hope your foot doesn’t grow much in the next 5 years. tougher to pull it out of your trap.
thals’ comment is spot on.
If you can afford to, move there. The area will be unrecognizable in 5 yrs. More than you can say for any other over priced building in a prime BK location to date.
11217, I dont want to waste people’s time so NO, I wont go check out willow house as that’s richie rich folks territory and I’m still 1 winning lotto ticket away from that.
Clearly you missed where I said “So I guess they aren’t even half sold”
Idiot.
And an idiot who has poor reading comprehension. The worst kind.
“I believe there are about 440 units.”
11217 PWNED!
***Bid half off peak comps***
“everything is flying off the shelves in BoCoCa + BK Heights so I think it’s worth a shot trying squeeze out a few extra bucks.”
Really? You should check out Willow Street.