Oro Closings Becoming a Reality
The Real Deal reported yesterday that Oro buyers should see closings begin within the month. Forty-five percent of 303 units have been sold by Prudential Douglas Elliman, though some of those sales are a year old; it’s been a long wait for the 40-story building, which “critics have accused of being out of character with…
The Real Deal reported yesterday that Oro buyers should see closings begin within the month. Forty-five percent of 303 units have been sold by Prudential Douglas Elliman, though some of those sales are a year old; it’s been a long wait for the 40-story building, which “critics have accused of being out of character with the public housing projects and low density brownstones in nearby Fort Greene.” Left on the market: 132 units from $357,000 to $1.43 million.
Oro Closings Finally Expected to Begin [The Real Deal]
My husband and I were looking at Oro, One Brooklyn Bridge, Belltel, Forte, and One Hanson Place in January – April 2007. We decided in the end to move to One Hanson Place and haven’t regretted it.
Oro’s sales are obscenely slow, the floorplans were too small for the price, and the neighborhood is abysmal right now. It could improve, but who wants to wait that long? They won’t even get the second tower built at this rate.
One Brooklyn Bridge hasn’t even gotten off the ground yet.
Belltel has no windows. 🙁
Forte, being right across the street from OHP, is just not worth it. It’s more expensive and has less attractive floor plans. Not only that, but the word in the neighborhood is that it’s only got 20-25 people living in the building and can’t seem to sell anymore.
Contrast that with OHP, which is currently 80% sold and 55% closed, with expected 90% closed by the end of the year.
While I wish for the success of these developments because it will only help downtown brooklyn as a whole, some of these developers just didn’t make good decisions.
And that’s sad because Brooklyn deserves better.
They shoulda built this PJs 21 stories like a lot of the others, then we could call in ‘contextual development.’
Yeah. I also don’t understand why being out of character with the nearby projects is a bad thing. Would those critics rather that all the new buildings built around the projects look the projects? That would be so inspring and beautifull….
how dear someone build something out of character with the nearby PJs.
It’s going to be a very long time before Fulton Street gentrifies. That mall has extremely high rents, and does very well, in spite of its repetitive stores and pawn shops.
I’m not liking Oro at all. That yellow brick is not going to hold up to the vehicular exhaust, and it is rather boring in design.
It will become the “corridor o’ prosperity” between there and Ratnerville when it’s finished.
Oro is beautiful & Toro will be too. However, the streetscape is a mess as there’s no discernable retail like one would see on any avenue in Manhattan. Foot traffic is imperative along Flatbush to make it successful & I ain’t be talkin’ about those peeps who frequent the Fulton Mall. I’m talking the everyday kind you’d see on 3rd Ave in the City. What is to become of middle flatbush near Fulton Mall. There be some ghetto eastablishments there like Pawn shops & TGIF & check cashing joints. I don’t like that. Any future plans to build that middle section of flatbush up??
Whoa. That is interesting, FtGreeneCorey!
I bought at Oro…my wife and I signed our contract October 1st of last year, so by the time we close it will be over a year. One of the interesting tidbits from the Real Deal article that I had not realized was that the original developers (United Homes) flipped the property over to the new owners (Greenfield Partners). This must have occurred very very recently (like within the last two months). I assume the new owners are committed to selling out the building no matter how long it takes.