Rentals, Price Cuts and Loan Extension at 1BBP
One Brooklyn Bridge Park, the high profile condo conversion set in Brooklyn Bridge Park on the Brooklyn Heights waterfront, announced late yesterday that it had managed to successfully negotiate an extension on its loan agreement for another two year, buying it some time to try to move some of the many unsold units in the…
One Brooklyn Bridge Park, the high profile condo conversion set in Brooklyn Bridge Park on the Brooklyn Heights waterfront, announced late yesterday that it had managed to successfully negotiate an extension on its loan agreement for another two year, buying it some time to try to move some of the many unsold units in the luxury building; to that end, prices were cut across the board by as much as 20 percent in some cases. According to the website, this means that studios are now as low as $500,000 and a two-bedroom can be had for under a million bucks. We believe that our new pricing structure creates smart investment opportunities for buyers who will be able to realize long-term appreciation on these residences,” said R.A.L.’s namesake Robert Levine. In the mean time, up to 25 percent of the units will be offered as market-rate ($1,875 for studios, $2,800 for one-bedrooms) rentals. (Note: One Brooklyn Bridge is an advertiser on Brownstoner.)
Stribling Closes at 1BBP, Optimistic About Spring [Brownstoner]
Tough Times at One Brooklyn Bridge Park [Brownstoner]
What’s New at OBBP [Brownstoner] GMAP
This place is amazing. They even have rent to buy options and every condo I visited had huge ceilings. It feels so much bigger than the sq. ft. make it seem. When the park is done everyone will want to live here. Plus virtual golf and an entertainment theatre? pretty sweet. The views are absolutely beautiful . . . I think anyone who is into open houses and seeing what is on the market needs to give this place a chance. the times for open house are on http://www.onebrooklyn.com
I have to agree with some of the earlier posters that this isn’t really Brooklyn Heights. You are kind of in the middle of nowhere. You have to walk a few blocks to really get to Brooklyn Heights and further for any decent restaurants or services.
Assuming that the park gets done (huge assumption), the area around the park will be nice, but the price per sq. ft. is just too high for that risk.
Also, I wouldn’t compare this to Dumbo. At least, in Dumbo you have easy access to a grocery store or restaurant.
I wasn’t really in the market, I just like to go to open houses and I was visiting friends in the Heights, which is across the street (not “up the hill”). I really liked the unit I saw facing north to the Bridge. really liked it.
Enough to sell my house? Who can sell a house in Brooklynh today? there’s the rub.
The apartment in the DUMBO thread appeals to me too. I guess I’m dreaming of big windows and views, two things you don’t get in a brownstone.
DOWN GOES BROOKLYN!!! DOWN GOES BROOKLYN!!!
***Bid half off peak comps***
sam- like i said it’s cool for a year or two but i found i wanted to live closer to stores and transpo for less money. air quality is crappier down there too…
Cool Sam – what ultimately made you decide against this buildling, as it seems you were in teh market.
dh, you mean the west side.
the lower floors are definitely not good, but I saw a fifth floor unit facing west that had really nice open views of brownstone brooklyn all the way to the Hanson Place tower.
it was surprisingly nice. And the huge windows let absolutely no sound in. so it is really just the lower four floors facing west that are the subpar units. They will probably rent those indefinitely.
i didn’t mean to sound like i was hating on the entire building.
just meant to hate on the east side of the building.
The lower floor apartment facing the BQE are the least desirable but there are relatively few of them, why hate the whole building?
I for one, would never get bored of a panoramic view of the bay, which is more interesting than an east river view. The change of seasons, the boat traffic, the big liners coming in and out. How could it be boring?