One Brooklyn Bridge Park Makes List of City’s Top Sellers

By on November 17, 2010 9:21 am in Real Estate

Crain’s reports today that over the last nine months condo sales at One Brooklyn Bridge Park rank as the second highest in New York City.  That’s partly due to price reductions the report says:

Crain’s: Similarly, massive condo conversion One Brooklyn Bridge Park in Brooklyn Heights—a former Jehovah’s Witness warehouse—also went through a price correction. There, the cuts varied from just a few percent to as much as a 30% discount, depending on the location of the apartment in the 438-unit building. Prices for the apartments, which range from humble studios to three-bed, three-bath penthouses, range from $425,000 to $7 million. The opening of two portions of the Brooklyn Bridge Park, which is basically the building’s backyard, also helped lift sales, noted Rachel Poggi, director of sales for One Brooklyn Bridge Park.

“The park is a huge plus for the building,” said Ms. Poggi, adding that One Brooklyn Bridge just recently reached 55% sold or in contract.

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  • tb

    A friend lives there and she can see into at least 18 other apartments from her window. An extra perk I guess.

  • Johny

    The BQE just next door for a significant portion of the building is just a deal breaker for me

    (constant noise-pollution)

    + beside the park, the building is pretty much isolated from the rest of the nabe…

  • http://loureads.com Lou

    I can’t wait until that group of residents starts complaining about aspects of the park they don’t like. I wonder how they’ll influence the park? I mean if there is noise and stuff they don’t like will the high paying residents be more able to flex a muscle to get something in the park changed? I guess we’ll see how things go. I think about when certain movies were played on the grass at Pier 1 BBP and how people complained about the noise…

    I wonder if they’ll ever be able to attract businesses into those ground floor store fronts. You have a small captive clientele and then park goers… Seems like a hard sell for a building thats charging up to $7 Million. I’m sure they are asking a stupid penny for the store fronts.

  • Andrew Porter

    I too am wondering about the location of the sold versus unsold apts. I’d imagine those with the best views have sold well, while those with great views of the BQE (endless headlights at night, noise and vibration even through double-glazed windows) are still likely unsold.

  • Cranberry Beret

    @Lou – interesting question of whether 1 BBP residents will have more muscle than others. But re: the noise complaints – I think it was reasonable for Heights residents not to expect stadium-level sound systems set up on the piers that would carry that level of noise all the way up the hill into the neighborhood…no 1 BBP owner should have any similar expectation.

  • Dom

    For everyone’s concern regarding the BQE, it will go under a major rehabilitation…will take a long time, but when it’s done, it will be much quieter…whether the work is just redoing it to current saftey specs, covering it, or making the tunnel…either way, you have multil million dollar properties on the West Side Highway of Manhattan which the likes of Martha Stewart, Nicole Kidman, and Hugh Jackman live.

    More of the BQE sides are occupied actually…developer is slowing the release of the other major view apartments as inventory levels drop all over BK+city, and demand goes up to compensate for the downturn that is now becoming an upturn.

    I do live in the building…it’s fantastic. The NIMBY issues are the same as everywere in NYC…’no electric substation in my backyard’, ‘no big box store in my back yard’, ‘no nightclub on my block’. etc, etc, etc…

    Reality check, NYC is still a growing city, with expectaions of 1million more people over the next decade. As the waterfront becomes more precious, those locations will go up higher and higher in value.

    And, last but not least…it is connected to the neighborhood! A lot of lazy people think a highway stops you from walking to River Deli for a great dinner? Or, going to Iris Cafe for the best latte? Or, heading to Montague Street? Pullllleaze!

    We have the shuttle from our building which I NEVER use…to walk to the subway for just 5 or 10 minutes is the BEST THING EVER…I relish walking by the most gorgeous buildings in the heights everyday to and from work.

    And the retail space will eventually get filled. Someone, somewhere, will need to start or open a business for some reason, and will find this spot appropriate for their business needs.

  • ilikebrooklyn

    I just recommended it to my cousins. There are still units with good views… not of the BQE.