Brooklyn Heights Condo Project Reports Brisk Sales
The appetite for condos seems to be back in certain markets, such as parts of New York, if buyers' enthusiasm for buying them is any indication.
New York—The appetite for condos seems to be back in certain markets, such as parts of New York, if buyers’ enthusiasm for buying them is any indication. 20 Henry Street, a condo development in Brooklyn Heights, for instance, reports that about two-thirds of its residences are now under contract after four months on the market with pricing averaging $1,000 per square foot, according to Stribling Marketing Associates, which is handling the sales.
The project originally won approval in 2006 and previously launched sales two years later in a instance of unfortunate timing. Hard times for the New York condo market and other problems delayed the re-starting of the sales effort until February of this year.
Designed by PKSB Architects, 20 Henry has 38 residences ranging from studios to four-bedroom units. The six penthouses feature private roof decks and, in some cases, professionally landscaped rooftop gardens.
Besides the condo units that are now contract, so are four of the six penthouses. Prices for the condos start at $450,000 and top out at about $2.6 million, with penthouse pricing ranging from $2.1 to $2.55 million, so it appears that deep-pocketed buyers are interested in Brooklyn once more. Stribling Associates executive vice president Michael Chapman says that there’s been a diverse mix of buyers, including from those from Brooklyn, Manhattan, other parts of the country and abroad.
The property is actually composed of two buildings, the restored 19th-century Middagh Building on Henry Street and a new addition on Poplar Street. The Middagh Building, which was built in the late 19th century, was formerly the home to Peaks Mason Mints. Its exterior has been restored to feature the property’s original brick façade, exposed buttresses and rows of massive arched industrial windows. The façade also includes the original “Peaks Mints” lettering as homage to the property’s past as a candy factory.
The property features a private, landscaped entry courtyard that connects the two buildings, with a vertical “green wall” extending along the Poplar Building façade. 20 Henry also offers on-site resident management, an attended lobby, a fitness center, bicycle storage, refrigerated storage and separate private storage for purchase.