One Brooklyn Bridge Park - Positive Comments

I'm all for it. All other threads seem to be one or two posters defending a building and everyone else tearing them down. There are good condos in Brooklyn with 1BBP my favorite.

Hear hear. Good initiative jmtdesign! We have lived in 1BBP for over a yr and absolutely love it. I am amazed at the constant misinformation spewed about this devt in these threads, and have essentially stayed away from them as they seem to invariably descend into moronic assertions about how many half blocks we are from the subway, or how the developer will revert to auction. Prospective buyers (if you manage to tune out the noise), know this: the experience of living here is top notch. We have been very happy w/ the construction and appliances. The staff is fantastic. The parking is dirt cheap. Maintenance is affordable thanks to the J-51 abatement (15 yrs). The light and volumes in our unit contimnue to dazzle us- daily. (sorry if it sounds corny but it's true).
And now, i will cede the floor to people who have never lived here and will assertively state that a view or duane read is actually a better deal per sq foot because it is 1 block from the subway...

Sure. The only people on this thread will be brokers. Why would you avoid reality here?

Being stubbornly bearish about every development is as disconnected from "reality" as broker spin. I think that's kind of the point.

great timing of this post with the upward price changes....hmmm...something fishy going on here.

positivecarry, thanks for bringing no substance to your post. What reality do you speak of? Yours? (newsflash your reality is not everyone's reality).

squarefoot, what upward price changes? Two posters indicated that 1BB wanted to try to move prices upward sometime soon, i.e., when the park is finished. Wow, what a shock that that a building may want to try to get more money for a unit. Only time will tell if the market will support any price increase if it actually happens. I've been dealing with the building for several weeks and no changes on any unit that I've been looking at.

My reality is not everyone's reality? Huh? Do you have a alternate reality where there isn't 17% unemployment?

Take a look at the front page of the journal and let me know what reality you live in.

What is the deal with this guy? http://www.brownstoner.com/forum/archives/2009/11/one_brooklyn_li.php

I wants to sue the developer for planting trees that might/is blocking his city views? Really? What a nutjob. This person bought on the 4th floor, can't be that hard to figure who it is.

Wanting to sue because of planted trees!?! The condo board when it forms should be on the lookout for this trouble maker... but, I'll bet this person is exactly the type to run for the board and make his imagined troubles, everybody's troubles.

Guess the lesson jtm is that. like sex and violence, incidiary posts sell, and ones that merely try to inform prospective buyers without doomsday spin are relegated to the dustbin or irrelevance... LOL! Hopefully people wont only focus on the 300 + posts on BPP. Cheers

1onewon quote:
"... but, I'll bet this person is exactly the type to run for the board and make his imagined troubles, everybody's troubles."

To tell you the truth, this is exactly the kind of person you would want on the condo board. Someone that will fight the developer for their rights, makes sure items promised in the offering plan are adhered to, demands excellence from the management company and from the building personnel that they hire, makes sure deficiencies in the building construction get fixed, etc..

What you don't want is someone that is lazy and doesn't address the concerns of the building residents. Trust me, "these" people are the ones that get stuff done for the building. On the flip side, "these" people are also very anal and will make very strict condo house rules. I.e. 80% floor coverings on the hardwood floors!, charge $300 to use your own common areas - pool table, gym, roof deck, etc, if you bring more than 2 friends with!, and etc, etc..

Back to the issue of positve comments -- I too have lived here for over a year -- moved late last Summer. The experience has been great.

hi gator, do a search for recent price changes, i counted 8 upward in my price range.
i agree they should get what they can, and they are nice, but with the common charges, the timeline, the market, blah blah, i'll stop, everyone knows the issues with this building, good luck to the sellers and the buyers.

positivecarry, yes people are aware of the unemployment situation and the general state of the economy. The point is, what's your point in repeating this (and I don't mean you in particular, just in general) in every thread? It's a bit paranoid to think that anyone doing otherwise is necessarily a broker, no?

i just think it's kind of funny on a real estate board to start a thread for only positive thoughts, affirmations if you will. group hugs.

I am POSITIVE that prices will fall much further before these units sell out.

Bjw,

Setting up a post for "only positive comments" sounds a bit socialist, dontchathink? This isn't a north korean newspaper. It's a board about NYC real estate. People with a vested interest in earning a $ from suckers willing to buy into this project post and hide behind a username. This is exactly why I wanted for this place to be more of a social networking site, where you could learn more about a poster. That way, people could see how many brokers are here and what their agenda is. I've never liked the bait and switch of properties and everyting else brokers do to earn a living. Most scum are focused on the transaction, and what is going to pay them today. They're missing the forest for the trees. If they spent a little time putting together a group of clients who buy multiple properties, they wouldn't have to resort to this internet garbage that poison's this board.

positive, I don't know how that qualifies as "socialist" but I get your point. I agree they should make some changes to make this site more interactive, etc., but mostly I just hope for a balanced message board, not one where people just nod along to whatever a few dominant posters have to say, or are combative just to get a rise out of others. I don't think you're really an offender there, but I hope you can see why your initial post here doesn't really do anyone much good. As for the actual spamming brokers (and other lost souls) on this site, the best thing to do is just ignore them.

most people are bears...cant help that

I agree with you bjw. I'm against a "always sunny" spot for a building because there will be people who could be misled. If anything, reading both sides of the arguments here has given more info than I ever could have asked for.

Marco,
That's not how this board was 18 months ago

positivecarry, couldn't agree more. This board was indeed very different way back when, and that "bitter renter" stuff rubbed me the wrong way, just as its flipside does now. Thankfully, it tends to be a minority, even if that minority is often quite vocal.

> I am amazed at the constant misinformation spewed about this devt

Interesting that you are inferring that only the negative posters had the misinformation.... I probably saw more coming from guys like NYCMatt, who was trying to talk up the building.

> Being stubbornly bearish about every development is as disconnected from "reality"
> as broker spin. I think that's kind of the point.

If you're claiming that the detractors of this development say the same about every development, you're off your rocker.

1BBP has some pretty darn specific problems, and is priced at the top end of the spectrum.. pretending its getting heat only because of the market is, well, insane.

There is good reason this building has had major sales problems, even relative to other developments.

> > most people are bears...cant help

> That's not how this board was 18 months ago

Because most Americans don't have a clue.... they base their evaluation on "investments" on recent performance.... which is about the biggest mistake one can do.

If thats the only reason a bear is a bear, that isn't intelligent either.... but, there is plenty of fundamental info supporting the notion that prices are still out of whack.

I loved the bitter renter comments. It was more proof that I was on the right side

Btw, I am not a broker. Far, far, far from it. Just want to hear anything good about this development and from people who actually like the place. The good points are ammo too. Obviously, I can get an informative fair dose of the other side of the coin from other threads.

All I am saying is that I have looked at a ton of places and my eyes may bleed. I am not an authority figure on the real estate world but, something keeps drawing me back to OBBP. It truly is an extremely nice place. Their prices are up there, but the condos are solid. Quality wise they kill the competition. I know that many of my assessments are more based more on taste, and not on statistics. The folks behind the design of this place deserve an award or something. ( except for the pendant lights over the kitchen )

Issues aside about location etc. I can't even begin to list all of the places that seemed sketchy 10 years ago. and the hundreds of problems that could go wrong.

Another thing why the hell would anyone want the water front to fail in the first place ? Even if you do not buy a place down there, the park is going to be a huge asset to the area.

For all the people who are going to slaughter this post, I think it is fair to hear both sides.

Also, we are all nerds.

the coolest nerds ever though

Apparently the building is now 49% sold, according to the brokers and the banks that will finance. Contracts out will bring it to 50% or just above.

Wow, after how many years? Still not at 50%? Wow.

Look, the building has 960,000 square feet - more than 80% the sf of the Chrysler Building. If they get to 50% it's pretty impressive.

which is to say, there's still 480 000 sf left! Everyone should really rush to the sales office or miss the deal. :)

Plus, recorded sales up to Sept 29 on SE show only 174 units, while the building has 449 (as per NYbits)! That's 38.75% to be exact. Even there's some lag in recording, it can't be anywhere close to 49% sold. I guess another hyperbolic sales agent gave you an inflated #, that has included all contracts signed and contracts out or maybe something more...

A 30 story new development to the southwest and a 150 ft tall midrise to the south have been confirmed (you can pull out all the details on-line). They will totally block sunlight & the Liberty view for any units on the south side of OBBP. As a result, 04 line, ie. is almost totally empty until now.

@buybuy - I agree about the Southern facing units not being desirable. Pricing is a roughly $200k difference between identical Northern and Southern facing units. I'd quibble with your assessment about the amount of light that one will lose when they build, but I'm not willing to take the risk regardless.

I was given the 49% figure by the bank. While this is what's reported to them by the Sponsor and sales team on their questionnaire, I have no idea how willing they'd be to mark up the sales percentage on the financing questionnaire or what, if any, repercussions exist for over-stating the sales figures to the banks.

The only reason I see the figures meaning anything comes in when assessing financing and future resale. The building is still the building with its positive and negative factors. Everyone has to assess what's worthwhile to them, and what, if any, risk they're willing to take.

1) OBBP has always had preferred lenders, so it's not like there will be a watershed btwn "no financing before 50%" & "easy financing after"; 2) banks include "in contract" in the percentage sold; see Be@schermerhorn discussion board: some banks start offering financing before any closing letter was sent out.
1 Grand Army Plaza claims 60% sold now. You should go to their on site to see if the sales becomes much more animated now! ;)

OBBP has been sluggishly but steadily closing 4-6 units every month. That's about +1%/month. You can calculate how long actual closings can reach 50% at this pace from 38%...

"which is to say, there's still 480 000 sf left! Everyone should really rush to the sales office or miss the deal. :) "

lol

The cheapest unit is a studio for half a million dollars. It probably faces the BQE. No thanks.

I can buy a much nicer house in the midwest for $150,000.

Did anyone read this.....
http://ny.curbed.com/archives/2009/12/08/parks_cash_injection_wouldnt_actually_postpone_condos.php
Looks like the city may build about to 1,200 condos surrounding One Brooklyn Bridge. These pads for the development of these condos seem like they would block most of the views from the units???
Any thoughts?

Oh also, isn't funny how the sales team shows pics from the best units (the most expensive in the line); however, rarely shows pics from the remainder of the units which mostly don't have views?

Anyone got any insight on how much of the construction loan is still outstanding? Whether the remainder comes due in May 2011? Whether the foreclosure on RAL properties in Telluride are likely to break any covenants or otherwise prejudice another extension?

During due diligence, we learned that the outstanding construction loan has been extended to 9/1/11 with options to extend until 3/1/13 and 9/1/13.

As discussed above, the new construction will likely block some of the Southern and Western views from the Southern side of the building. Units on the North, West, and East side of the building will not lose any views due to this construction, if it occurs. Units on the South side of the building are generally being traded for $200k+ less than identical units on the Northern side of the building.

Units on the East side of the building, which overlooks the BQE and Brooklyn Heights, can actually have decent views, especially once you're above the 5th Floor.

The park recently received a generous donation:

http://www.nytimes.com/2012/04/20/nyregion/40-million-pledged-for-brooklyn-bridge-park.html?_r=1&ref=nyregion

When we expanded our recent search to include new buildings in Brooklyn we looked here. We looked at 1 BR/ 1.5 BA options and were very impressed with the apartments. Very expansive living rooms, nice kitchens, well appointed. I preferred the one floor options to some of the duplex units we saw, but that was a personal preference. Honestly the BQE issue didn't concern us as has been reported by others. Light was good on all units we saw. The park area behind the building was an attractive feature as well, and further development we thought will only enhance the building. As to potential concerns there is a lot of common area to heat/AC ( I thought the lobby and hallways were awfully warm the day we visited) and I always worry about who will pay for amenities when sponsor leaves. While we didn't end up making an offer/buying here, it was a viable option and was in the running.

Curious why bring directly on a constantly busy noisy highway is of no concern. The apartments on the water side might be ok but I wouldn't consider anything on the highway.

Highway noise is hardly noticeable by the 9th floor. It wasn't bothersome on the 7th floor either. I've never been on the lower floors, but they can just install the soundproof windows.

Soundproof windows can work decently... buy they are never actually soundproof.

And there is one catch... they have to be closed! ;-)

People seem to leave that out... imagine never being able to open your windows. And it isn't just noise, it is dirt. Expect a layer of soot every week, either on your window, or in your apartment near the window if you open it.

I had a friend who lived 3-4 stories above the BQE trench near Atlantic, and it was not good...

You can't just listen to the general noise... consider the less frequent "bumps", a truck hitting a pothole, a screech, etc. You only need one of those a night to bother you.

it's a land lease--that's positive, right?

I guess it's also not worth living in Manhattan either because there's just as much road noise and soot.

well no--it's certainly preferable, though, to live in places which are not enveloped in exceptionally high 24 hour concentrations of auto exhaust--place that exist in Manhattan, Brooklyn, and throughout the city--1BBP just isn't one of those places--in fact it's quite thoproughly enveloped 24/7

now back to the shilling!!

even if you face the FDR in the city you will not get as much exhaust. the trucks are the biggest problem with the diesel stench.

Yeah, I have lived in a bunch of places in Manhattan, had noise, had dirt.... and never got anything like the BQE soot... it is fairly bad. I wonder how often they clean the windows on the model apartments?

What is the current % sold here?

I'm glad the wind blows in land.

unfortunately, if you face the bqe, the wind does not go around the building to blow stuff away from you but swirls around the building. try to pacify yourself with something else please.

> What is the current % sold here?

good question... anybody know?

Somewhereelse, this building must scare you, since it used to be owned by Jehovah's Witnesses, right? You are scared of Jehovah's Witnesses, aren't you?
Oh, that thread was deleted after your attacks.

I got attacked by Jehovah's Witnesses?

I'm a Jehovah's Bystander. We're like the Witnesses but we don't get involved.

somewhereelse: The J. Witnesses have overseas hq.s in
Suriname and Zambia in addtion to the usual countries.

Last time I was in Manhattan a smiling Witness gave me a flyer. there's going to be a big worldwide convention event going on June 1st - June 3rd.

It starts at 9:20am each day so if you can't make it on time maybe huntersburg will hold a seat for you.

"You can't just listen to the general noise... consider the less frequent "bumps", a truck hitting a pothole, a screech, etc. You only need one of those a night to bother you."

One word: DOWNSHIFTING.

It's right near the building that virtually every tractor-trailer cruising at 70 miles an hour has to downshift to 35 just to make the bend (or slow down for traffic approaching the bridge).

Loud.
As.
Hell!

Matt, you should take a writing class. You need it.
You write "one word" then after the one word, you write a two line sentence, and then stutter out an additional 3 words.

Huntersburg, you've got a bug up your ass about everything I say. Maybe you should get a life.

Not
Sure
How
I'd
Get
A
Bug
In
My
Ass!

harlembuyer
about 5 hours ago
ignore this person
report abuse
I'm a Jehovah's Bystander. We're like the Witnesses but we don't get involved.

That was very funny.

That's a Wright joke, I think. Very good one.

"One word: DOWNSHIFTING.
It's right near the building that virtually every tractor-trailer cruising at 70 miles an hour has to downshift to 35 just to make the bend (or slow down for traffic approaching the bridge)."

Didn't think about that... but it is definitely not a quiet area.