Atlantic Terrace Update
A spokeswoman for the Fifth Avenue Committee says that closings at Atlantic Terrace, the new-construction co-op on Atlantic and South Oxford, are slated to begin in the middle of next month, and that 65 percent of the building’s units are spoken for. There are signed contracts on 54 of the 59 below-market units—the majority of…
A spokeswoman for the Fifth Avenue Committee says that closings at Atlantic Terrace, the new-construction co-op on Atlantic and South Oxford, are slated to begin in the middle of next month, and that 65 percent of the building’s units are spoken for. There are signed contracts on 54 of the 59 below-market units—the majority of which were available to buyers making 80 percent or less of the area median income—while five of the 20 market-rate co-ops are in contract, and there are accepted offers on four others. The development got its temporary certificate of occupancy in February. StreetEasy shows asking prices for the market-rate units going from $365,000 for a 684-square-foot one-bedroom to $1,095,000 for a 1,818-square-foot, two-bedroom (plus office) penthouse.
Checking In On Atlantic Terrace [Brownstoner]
Launch at Atlantic Terrace [Brownstoner] GMAP
“What’s the story with AY? Isn’t it delayed/possibly scrapped?”
CTBK: When you went to the open house, did you not notice the cranes across the street and the structural steel carapace of the new arena? Additionally, there was a Bloomberg article today saying that FCR is trying to move ahead with the first residential tower asap. They’re looking for a $100 million construction loan. It’s on!
I’ve heard that there are closings on June 2nd & June 3rd and that some folks are moving in on the June 3rd.
ESDC just approved 6AM construction on Atlantic Ave. across the street from this building (along with Sat. construction.)
ESDC just approved 6AM construction on Atlantic Ave. across the street from this building (along with Sat. construction.)
Yes the subsidized units carry lots of sales restrictions which the market rate units don’t have. I took a look at an open house a few weeks ago and the market rate units are actually well laid out. Not sure if the subsidized have the same layouts but I know they have lower end bathroom tiles/fixtures, kitchen appliances/cabinet faces, lack a washer/dryer. So it’s definitely more upscale. I’ve seen a few of the other condos in the area and it seems to be a on par with anything out there. The penthouse duplexes are REALLY nice but out of my price range. 🙁 The walk to the Atlantic Pacific station is about 2-3 city blocks distance and nearby shopping is a real selling point. I was concerned about noise from Atlantic Ave but the windows isolate the sounds fairly well. What’s the story with AY? Isn’t it delayed/possibly scrapped?
These units are a “long walk from fulton/lafayette” only for lazy fatasses.
Anyway, this will be worthless once AY is built…
Does this mean the neighborhood won’t be “destroyed” by Atlantic Yards???
Re: MarionG – I’ve had my fill of condos!!! Too many of them out there. I don’t want some investor purchasing the unit(s) next door to my new home and then renting out to whoever they want for as long as they want. Plus I think you’re wrong about the pricing between the market units and limited income units – the markets are unrestricted and the low incomes are pretty heavily regulated by the government to make sure there is always a difference between them.
Likely that the affordable units are on lower floors facing Atlantic. That’s how they did it on Roosevelt Island–affordable units faced Queens, market-rate units faced Manhattan.