Price Cuts at One Brooklyn Bridge Park
On the heels of the news that the developer of One Brooklyn Bridge Park has started renting out a small portion of the 300 or so units that remain vacant comes word of price reductions at 15 apartments in the fancy waterfront complex. The affected units range from a 589-square-foot one-bedroom that started out asking…
On the heels of the news that the developer of One Brooklyn Bridge Park has started renting out a small portion of the 300 or so units that remain vacant comes word of price reductions at 15 apartments in the fancy waterfront complex. The affected units range from a 589-square-foot one-bedroom that started out asking $500,000 last December before dropping to $415,000 in June and then $325,000 last week (35 percent off peak!) to a 2,295-square-foot four-bedroom that started out at $2,750,000 before going to $2,295,000 and now $1,995,000. Are these levels starting to get interesting yet?
Renting 1 BBP: ‘We Would Like Things to be Different’ [Brownstoner]
Rentals, Price Cuts and Loan Extension at 1BBP [Brownstoner] GMAP
Levine Talks One Brooklyn Bridge Park Closings [Brownstoner]
You all must be really old or really out of shape. I know people in the building so i’ve done that walk a bunch of times. Yes, it’s uphill, but it’s a fairly gentle slope and I find that I’m not breathing hard or sweating at all when I get to the borough hall stop. Y’all gots to hit the gym people! 20 minutes on the elliptical 3 times a week. Come on!
the walk is a nightmare. it’s all uphill and that shuttle is gone the minute the developer sells enough of these turkeys to call it even
“I walked down there the other day. Its not as bad as I would have thought.”
Yes, it’s the walk UP that’s the difficult part.
anyway back to the topic they need to be moving at least 10 places a month through rentals or sales and I just dont see it happening. I guess we will see
I like that I can get to midtown in the same amount of time as folks in BH and Park Slope! I like in Ditmas Park. Funny people.
Hopefully you work in DUMBO if you live there!
Lender and/or equity participant (AIG) must be applying significant pressure to developer. Watching a number of these high profile developers speak at industry get togethers over the past 12 months I have been amazed at the steadfastness of their pricing and optimistic outlook for absorption at the current asking prices. Lender sees the writing on the wall, why not the developer? It must be hard for developer to accept that they may have been wrong with their sales strategy and that they are not bigger/stronger than the forces of the market.
and the slide marches on…
I eat lunch at 4:30.
That’s part of what made Rob’s comment so funny, Carol Gardens!