Belltel Releases Rebrands Some Upper Floors
Yesterday The Eagle reported that the developer of the Belltel Lofts released floors 10 through 18 at the art deco building to the market (we hadn’t realized that they weren’t available already), rebranding the upper levels as the Sky View Residences; at the same time, prices on seven of the lower units were reduced. The…
Yesterday The Eagle reported that the developer of the Belltel Lofts released floors 10 through 18 at the art deco building to the market (we hadn’t realized that they weren’t available already), rebranding the upper levels as the Sky View Residences; at the same time, prices on seven of the lower units were reduced. The newly-released units range in price from $820,000 to $2,000,000. The 27-story, 250-unit building is now 55 percent sold, according to the Douglas Elliman broker on the project; then again, they were 50 percent sold back in November 2008.
A Few More Sales Trickle In at BellTel [Brownstoner]
Belltel Joins the FHA Club [Brownstoner]
Targeted Price Cuts at Belltel Lofts [Brownstoner]
Checking In On The BellTel Lofts [Brownstoner]
Belltel Parking On Tap [Brownstoner]
Belltel Lofts: 50% Percent Sold [Brownstoner]
The Belltel Lofts: 40 Percent Sold [Brownstoner]
I like these, the windows are big so there is plenty of light. Yeah they are studio’s with an office but it’s a neat layout, different than all the traditional one bedrooms. There is no traffic on three sides of the building so it’s quiet and there is lots of transit in the area. Metrotech is love/ hate.
Strange that these are asking $1000 per sqft when the lower levels are only 500. I can see more for the views but double?
“Belltel Lofts released floors 10 through 18 at the art deco building to the market (we hadn’t realized that they weren’t available already)”
Inventory games. The banks are not alone with their stockpiles of preforeclosures. The 5 percentage point uptick is “not very encouraging” (poor little suckers who bought or maybe that was a shell game too). The remaining bulls are running out of time. This economic depression gets deeper daily. Look at today’s Commercial Clutch. Virtually, only government is spending (with more debt and less taxes).
The dirty little secret: housing relies on the economy but the economy relies housing. Hence, housing IS the economy. Where it goes, the economy will follow (deflation!). It’s a classic Ponzi scheme in collapse mode.
***Bid half off peak comps***
Denial! I can’t believe that after selling 7 units in the last year, with about 100 yet to go, their best and brightest response is to lower the official prices to what had been available to anyone visiting the building. If it had been enough, wouldn’t they have sold more units?
> now 55 percent sold… they were 50 percent sold back in November 2008.
Awesome, they’re right on track to be sold out by 2020.
Zinka, it seems you are confusing the 7 lower floor studios that had prices cut with the larger units on the 10-18th floor that are being released/rebranded, whatever. While the article is unclear, I don’t believe these are studios or are having their prices cut.
I challenge anyone to claim these are a decent deal . . . for anyone except broke and dump count dracula wannabe, like hipster notes
If you read the press release (cough) Brooklyn Eagle closely, these apartments were ALREADY on the market. They just sold poorly because it’s kind of a crappy conversion and they were priced too high. They’ve now lowered the prices and rebranded. But it’s not a release. If you look at Streeteasy you’ll see that many of these apartments have been for sale for years.
This building is a great opportunity if you’re a single, cash poor vampire.
I would not buy into a building that only required 3% down.
Also lack of windows a problem.