Prices Drop at the Oro Tower
The Oro, a condominium tower in Downtown that reached completion as the real estate boom went bust, is now cutting its prices by up to 25 percent to boost sales. Since the building’s marketing campaign launched two years ago, only 90 out of the 374 units have closed, reports Crain’s. The publication lists a studio’s…
The Oro, a condominium tower in Downtown that reached completion as the real estate boom went bust, is now cutting its prices by up to 25 percent to boost sales. Since the building’s marketing campaign launched two years ago, only 90 out of the 374 units have closed, reports Crain’s. The publication lists a studio’s current price as $295,000, while another three-bedroom goes for over $1 million, and Street Easy has an active one-bedroom listed for $539,000; you can see all of the listings here. What’s interesting is that in the Crain’s article the developer says that he has no interest in converting the empty units to rentals, as other buildings have done to remain afloat. “Oro has always been a condo building and we intend to keep it that way,” he said. Nevertheless, there are two active rental listings on Street Easy, a studio for $1,800 per month and a one-bedroom for $2,850, suggesting that a couple of the original buyers are feeling a little more open-minded on the rental question.
Condo Prices Slashed 25% at Big Brooklyn Tower [Crain’s] GMAP
Work Resuming at Oro Part Deux? [Brownstoner]
Oro at 306 Gold Street [StreetEasy]
Orestes;
I have read “The Power Broker”. In fact, I re-read it last year. In my mind, it’s just a hatchet job on a great man.
The book is written in a complete vacuum. Never once does he put Moses in the context of his era. For instance, it never discusses the Interstate Highway Act and its effect on ALL cities of that era. Likewise, it treats the Title 1 program in a complete vacuum.
Caro never suggests what SHOULD have been done as an alternative. Finally, the tile is laughable. To suggest that Robert Moses was singularly responsible for the fall of NY is ridiculous, just on the face of it.
Benson- I suggest you read the Moses biography, The Power Broker. Aside from educating you about Moses, it’s also a great read. For my money, the last thing any city needs is another Robert Moses.
“Bloomberg is an egomaniac with Robert Moses aspirations. ”
Well, there’s yet another reason to vote for him. This town sorely needs another RM. Great public works have come to a standstill in the past generation.
nobody is indispensible.
Southbrooklyn- right on! Bloomberg is an egomaniac with Robert Moses aspirations. He has improvidently spent billions of dollars on bad projects (new stadia, outrageous public leases, etc.) while nickeling and diming the working people of the city. He believes no one has the right to criticize him and, sadly, the media and the Democratic party have let him get away with it. Need I remind all of you lemmings that Bloomberg swept American citizens off the streets during the Republican convention without legal cause and detained them for days in unsafe conditions. How can anyone endorse that kind of behavior?
I can’t believe such a nice opportunity to pee all over the brooklyn condo market has been wasted. Mayor shmayor. mutant asset bubble. asshats. come on people…
fsrg- wouldn’t that be too easy? I don’t think my heart could stand the shock. 🙂
“Bloomberg has been an effective mayor, and even I can admit, overall he has been a good one”
Considering how rare it is to have a good/effective public official – shouldnt that end the debate right there?
I never hated Dinkins and I thought he never got a break. That said, Guiliani was more effective at getting what he wanted. That doesn’t necessarily mean I think he was a good mayor- couldn’t stand him. Bloomberg has been an effective mayor, and even I can admit, overall he has been a good one. I don’t like everything he’s done by a long shot. I think he’s arrogant and doesn’t even think about people who aren’t in his income bracket but his businesslike approach to running the city was a breath of fresh air after the take no prisoners reign of Giuiliani.