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Apr. 30, 2013

Brooklyn Heights Condos Near Sellout

By Dees Stribling, Contributing Editor

New York—Condo sales have been gathering momentum in New York since last year, with new properties in various parts of town reporting increasing sales. The trend continues: in Brooklyn Heights, One Brooklyn Bridge Park reports that the property is now 95 percent sold, with only 17 of the building’s 438 residences remaining on the market.

One Brooklyn Bridge Park is located within the 85-acre Brooklyn Bridge Park that comprises 9 acres of waterfront sports fields and playgrounds, a kayak launch, waterpark, picnic tables, and proximity to the water. The property, which was developed by RAL Cos., offers skyline views of Manhattan and the adjacent park.

The property also benefits from a recent donation by Joshua Rechnitz—some $40 million—for the construction of a cycling track; tennis, volleyball, basketball and gymnastics facility; and a boathouse, near Pier 5 in Brooklyn Bridge Park. The gift is believed to be the largest one ever made to a New York City public park. The 115,000-square-foot facility will allow for year-round competitive athletics.

One Brooklyn Bridge Park has an industrial past. Completed in 1929, the structure was warehouse at first and later a printing and shipping plant for Jehovah’s Witness-themed publications, until the mid-2000s.

Among the available residences are a duplex townhome that’s priced at just shy of $5 million, which includes a five-bedroom, five-bathroom residence comprising nearly 5,000 square feet, with 20-foot ceilings and north- and western-facing views. Another available residence is a penthouse unit, which is a three-bedroom, 3.5-bathroom space of nearly 4,700 square feet, priced at $5.5 million.

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