Toren Gets FHA Status, Tenants and a New Pool!
Big news in Downtown Brooklyn! Toren, the 240-unit, SOM-designed tower at Flatbush and Myrtle Avenues, just received approvals from both FHA and Fannie Mae, which means that it’ll be much easier for first-time buyers to step up to the plate. As for folks who’ve already bought in the 38-story building (it’s currently 50% sold), the…
Big news in Downtown Brooklyn! Toren, the 240-unit, SOM-designed tower at Flatbush and Myrtle Avenues, just received approvals from both FHA and Fannie Mae, which means that it’ll be much easier for first-time buyers to step up to the plate. As for folks who’ve already bought in the 38-story building (it’s currently 50% sold), the TCO was recently issued, making it possible for the first wave of buyers to start moving in. Most exciting of all, these early inhabitants will be able to take a dip in the just-completed pool. We’ve got the first photo of the never-before-seen pool below.
Toren Holds First Closing, Wants in on FHA Program [Brownstoner]
Crunch Time at The Toren [Brownstoner] GMAP
I like the look of the bldg as well but you walk out the door to the clusterf**k of Flatbush Avenue and Manhattan Bridge traffic. no thanks.
flatbush ave needs the BIG DIG. yeah right.
Is this the one that looks like a Lego Transformer?
Just FYI:
Toren, the condo building under construction on Flatbush Avenue in Downtown Brooklyn has won three CNBC Property Awards.
The awards going to Toren include:
Best Condominium New York
Best High-Rise Architecture USA and
Best Developer Website.
I don’t get why people are against new buyers getting FHA loans. I don’t mind my tax dollars going to help some folks buy into the neighborhood. If the buildings are filled it is much better for the area than sitting empty. I rather the taxes go to my fellow neighbors than to pay the salaries of a lot of useless politicians or bureaucrats, or the people who schedule the never ending cycle of road construction / repair/ dig up/ and repair again.
Also, I thought that the new guidelines require a 10% down payment.
They’ve taken the scaffolding down around the perimeter of the Toren and it looks really great.
Once they remove the scaffolding from The Avalon that entire strip is going to be VASTLY improved.
I love this building.
Ugliest building ever – nice pool though
M4L;
Agree 100%. These FHA loans are akin to the sub-prime loans that got us in this mess to begin with. I could see the need for short-term help for the housing market ($8000 tax credit, etc.) but these loans are ticking time bombs.
I cant imagine why anyone would pay big money to live on flatbush and Myrtle.
i wanna pee in that pool so badly. actually the FHA thing makes me wanna drop the kids off there instead
*rob*