Blocks & Lots

Building profiles: 5 Brooklyn condos likely selling soon

The Brooklyn condo market is soaring to record highs as NYC real estate recovers from COVID. What’s more, the borough boasts a deep bench, with successful buildings in a diverse array of neighborhoods at a wide range of price points.

There’s more on the way. Marketproof tracks condo buildings, including those under construction, currently selling, and those that have moved on to resales. Below we’ve selected five Brooklyn projects that recently had their offering plans accepted. They are likely to begin sales soon.

Here they are in no particular order.

1. 774 Marcy Ave

The city accepted 774 Marcy‘s offering plan in May 2020. The project has six units priced at $600–900k. That includes five 1-beds asking for $600–700k and one 2-bed asking for $900k. The average asking PPSF is $1,000. The new condo is located in Bedstuy.

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2. 1080 Lorimer

Slate Property Group is the developer behind this rehab condo. Renovations should finish up this year, and the city accepted its offering in December 2019. The average asking price for the Greenpoint building’s 29 units is $1,462, on the higher end for Brooklyn condos. The plurality of the units are 2-beds for $1.38–2.45m. MNS is handling sales.

3. 1901 Ocean Ave

This Royal Builders building is in Midwood. Its offering plan was accepted eight months ago. The average asking PPSF is $689, and its five studios are asking for just $300–365k. Two-beds are asking for $700k or less. The building has 23 units, and construction should finish next year.

4. 227 Berkeley Place

This National Realty Investment Advisors building’s offering was accepted in February 2020. The Park Slope rehab condo offers four 2-bed units on four floors. The apartments are priced at $1.6–2.29m with an average asking price of $1,627.

5. Umbrella Factory

This East Williamsburg rehab condo had its offering accepted two years ago. SL Development and Local Capital Group are backing the building, which has 69 units across seven floors. Its average asking PPSF is $1,438. That includes nine studios priced at $675–715k. 1-beds make up the plurality of units and are asking for $775k–1.2m. MNS is taking care of sales.

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The photo above is courtesy of 1080 Lorimer.

Joe Zappa