How Do Ya Like That: Proposed Look Of The Pierhouse Brooklyn Bridge Park Condos

By on June 5, 2013 7:50 am in brooklyn bridge park, Development

The NY Post reports on the Toll Brothers and Starwood Capital’s unveiling of the “new look” of the Pierhouse condos planned for Brooklyn Bridge Park’s Pier 1.

NY Post: The Pierhouse apartments are stacked vertically and many feature private outdoor terraces filled with trees, grass and other planting “We wanted to bring the feel of being in a park up into the building,” David Von Spreckelsen, of Toll Brothers, told The Post.

The lower units face the new Squibb Park Bridge linking the park to Brooklyn Heights above. The Brooklyn Bridge is slightly past the hotel to the north.

The new development is essential to completing the entire 85-acre park project as it will generate $3.3 million in revenues towards the expected $16.1 million annual maintenance budget, officials say. It will also include restaurant and retail space, a banquet hall, fitness center and 300 parking spaces.

This development will join One Brooklyn Bridge Park and the proposed residential project on John Street. DUMBONYC reported on the plans for John Street yesterday.

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  • Sylvester

    Question: When is the BBP going to build underwater condos to sell?

    Answer: The next big, big storm.

  • Sylvester

    I agree.

  • http://www.youtube.com/watch?v=UlsiLOnWCoI Arch Stanton

    So you are saying, a major park can be supported by donations and funding other than condominiums.

  • PB

    Actually, if you read through all my examples above you’d note that only the Highline, to my knowledge, is 100% funded privately.

    (I just looked into it. Their website says it’s 90% privately funded. And their annual upkeep is only $3 million. Most the money they raise is for capital expenses — to finish building the park. And ha ha, it turns out that the city is allowing buildings along the Highline to build much taller than before but when they build the buildings have to pay into a special “Highline development fund” so there you go, condos are paying for this park too.)

    The rest of the parks I mention, even with all their fundraising, still rely on the city parks department for quite a bit of upkeep, staffing and services. (For example, over $6 million of Central Park’s $37 million budget comes from the city.) My understanding is that such city support was not on the table for BBP.

    Yes, it’s impressive that Central Park is able to raise over $30 million from private sources every year but look at the difference in constituencies. Central Park has 7 miles of properties *directly* bordering the park with about 5 miles of that as some of the most expensive homes in the city. BBP, on the other hand, has about a mile of border and many the homes along that border can’t even *see* the park.

    So, if you think you can find someone to give over $35 million to BBP — as billionaire Barry Diller and his wife Diane Von Furstenburg did for the Highline — and then find someone to match that generosity every other year (as the budget is ~$15 million a year) then sure, we can drop the condos. Sounds like a plan. Let me know when you’ve got the donors signed up. :-)

  • 28 year resident

    two words: ug ly
    At least cold

  • 28 year resident

    At least the cold storage buildings were historical. they should have been utilized instead of a new Walmart looking building

  • David on Middagh

    Please don’t keep bumping a 60+-comment long, two-month-old conversation unless you have breaking-news facts to add. Thank you!

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