Sales Reach Halfway Point at Huge ENY Condo Conversion

It’s been years since we checked in at the sprawling East New York condo conversion MeadowWood at Gateway, but a press release just announced that the complex is half sold. According to the release, “MeadowWood at Gateway, located at 12205 Flatlands Avenue, has surpassed the ever-important 50 percent-sold milestone with 635 out of 1,152 condominium homes now sold or in contract. Fillmore Real Estate, the exclusive sales agent for MeadowWood at Gateway, attributes the success of this condominium development to the combination of a high quality product at surprisingly attractive prices – starting at $120,900 for the fully renovated, spacious studio to four bedroom homes for just over $300,000.” Before the conversion, the 19-building complex, known as the Fairfield Towers, housed rental units. An investment company purchased the buildings in 2006 and earmarked $40 million for their rehabilitation. Despite condo prices going up here in 2008, sales have remained steady during its almost-five years on the market.
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Photo from MeadowWood at Gateway site.