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December 5, 2006

Condos Sales Strong at 110 Livingston

building
The Daily News reports that more than half the units at 110 Livingston, the former Board of Ed building in Downtown Brooklyn being converted into condos by Two Trees Management, are in contract. When the sales office opened almost three months ago, there were 1,200 people signed up to check out apartments. Given the building's architectural pedigree (McKim Meade & White) and convenient location, the demand is not surprising, especially given the average price of $678 per square foot, far lower than the pre-sales buzz. The offering is attractive enough that even former city employees who used to work in the building are signing up. A few blocks away, at the BellTel Lofts, Douglas Elliman reports that 13 of the building's 219 units are in contract and another 14 contracts are being processed.
Condos Replace Offices [NY Daily News] GMAP
Board of Ed Building Sales "About to Start" [Brownstoner]




Posted by Brownstoner at 9:27 AM | Comments (12)
Categories: Development

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But the question remains: Will the condos be haunted by the ghosts of bloated bureaucrats, moaning and sobbing in the night for taxpayer dollars?

Posted by: Brenda from Flatbush at December 5, 2006 9:49 AM

As a buyer in this building who also looked at 110 livingston, I can say that for those in the market for 2 bed plus office, Belltel has many more interesting options at less $ per sq. ft. Also, the rooms in Belltel seemed to be a more liveable size, while the layouts in 110 you really had to squeeze to get living and dining into the main room. To me this made up for the slightly less good location (though closer to Q train, 2 stops from union square).

The article also talks about the grocery store rumor. A Whole Foods in that building would be within walking distance from Brooklyn Heights and Boerum Hill, but not sure they'd to it given the plans in Gowanus.

Any thoughts?

Posted by: Anon at December 5, 2006 9:54 AM

9:54,

I think Brooklyn could easily handle two Whole Foods in those two different sections. The one at 110 would cater to BK Heights, DUMBO downtown, Fort Green, and Clinton Hill while the Gowanus would get Park Slope and the rest. I think it is defnitely feasible given the store's popularity in Manahattan.

Posted by: Anonymous at December 5, 2006 11:06 AM

I'll agree with Anon @ 11:06. Based on the Fairway I bet two Whole Foods could easily be supported. A lot of the Fairway people drive and I bet the Gowanus Whole Foods would be no exception. The one in Belltel would cater to those with better access to Mass Transit I imagine.

Posted by: cobblestoner at December 5, 2006 11:34 AM

I was in the market for a condo/coop, so I signed up for 110 Livingston street months ago, maybe even a year ago, not heard anything on it. It 's difficult to see these condos. There's been talk of VIP showings etc....Who wants to deal with that, and the waiting list? Few months ago it was 1,800 people on the list in a NYT article, now its 1,200 in Daily News. The number is all over the place? If there are so much interest, why would the price drop per sq ft price? Its hard to get an accurate picture of what percentage is actually sold/contract because developers hold back on release of units.

Posted by: Anonymous at December 5, 2006 11:50 AM

11:50, you can just call their office and schedule an appointment to see the units, they're very nice.

110livingston.com

Posted by: anon at December 5, 2006 12:03 PM

Anon 9:54,

I actually thought the layouts at 110 Livingston were more thoughtfully laid out. The cheaper 2bd units I looked at Belltel were actually studios with 2 "home offices"--ie, no windows in the bedrooms. True 2bd units were pricier than their counterparts at 110 with similar sq footage.

Not to mention that BellTel's location isn't just "less good" than 110's--it's much worse, although it'll probably get better quickly.

Very curious to see if they can land a TJ's or Whole Foods. That should help significantly with the retail mix at the (currently depressing) Fulton Mall.

Posted by: Anonymous at December 5, 2006 4:19 PM

I am curious to see how both Beltell and 110 livingston do against all new construction like Oro and Forte. Do people think there is more of a premium on landmark buildings or on new construction?

Posted by: Anon at December 5, 2006 6:07 PM

A Whole Fooods was rumored in DUMBO, but it was just that... a rumor. I won't get my hopes up just yet...

Posted by: Anonymous at December 5, 2006 11:06 PM

I am very impressed with every developers ability to get the word out that Whole Foods or Trader Joe's is looking at their retail space. Honestly, is there a condo development out there that hasn't floated that one? Why oh why do people still fall for it?

Posted by: Anonymous at December 6, 2006 3:35 PM

I heard a rumor that Whole Foods is looking at a spot in The Broken Angel. Just what I heard.

Posted by: Anonymous at April 30, 2007 9:14 AM

Brenda, shut up. You post that every time 110 is mentioned and it isn't funny anymore. Yes, it was a hideous bureaucracy in many ways but (most of) those of us who worked there didn't make much money and tried to do our best for the children of this city.

Posted by: Anonymous at April 30, 2007 10:50 AM

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