Set Speed Condo Report

Due to the slim pickings in the Brownstone Brooklyn market, we again move over to Greenpoint/Williamsburg to take a look at one of their new offerings. The Aurora, on 30 Bayard St is a new construction project located on McCarren Park that is 13 stories high. It is located about 8 blocks from the Bedford stop on the L train and about 3.5 blocks from the Nassau stop on the G train.

While not all the units are listed on the Developers Group site, it is safe to say that there are at least 50 units in this project. Sizes range from 670 square feet to 1088 square feet on the listed units. Common charges range from $322/month maintenance and $56/month real estate taxes to $577 and $100. Apparently the released units are so new that there are no asking prices on the DG site yet, although it mentions that prices start at $490K. Prices are relatively in line with what’s out there today in the market, although it should be noted that this immediate area is and will be overrun with a voluminous supply of condos in the next 6-9 months. The buyer should tread carefully and (gasp), even try and negotiate prices.

The pedigree of this building is high-profile, as far as most Brooklyn projects go. The building’s architect is Karl Fischer and the interiors are designed by Andres Escobar, who also did the Gretsch Building in Williamsburg. In addition, Brooklyn boro president Marty Markowitz graced the crowd at the opening party. Ceiling heights range from a tad under 10 feet to 12 feet. The appliance suite includes a SubZero fridge and Wolf range. The amenities include private parking, a doorman, a health club, a common roofdeck and Fresh Direct Priority Service. An open house is scheduled for this Sunday from 1-4PM
Homepage [Karl Fischer Architects] GMAP
The Aurora [Developers Group]
The Next Williamsburg? [The Real Estate]

Every Thursday, ltjbukem, whose own blog Set Speed scrutinizes the progress and quality of new developments in the area we know as Brownstone Brooklyn, pens a guest post about goings-on in the condo market with an emphasis on new projects.