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Condominiums selling fast in Brooklyn’s tallest tower

When it comes to condominium sales in and around the Big Apple, some buildings sell out faster than others. A little more than two weeks after units were first made available for purchase, roughly 40 percent of the 104 condos in Brooklyn's tallest tower, located at 388 Bridge St., have been sold.

With interest rising, owners have decided to move forward with the sale of 40 penthouses. These were not supposed to hit the market for another three weeks.

The man in charge of sales and leasing in the building discussed the recent sales, saying, "We had people wanting to take a look at the penthouses and wanting to make offers. One of the things that is helping is that there is very little for-sale product available in Brooklyn right now, and certainly nothing in a building like this."

It appears that the owner of this building made a good decision, due in large part to the fact that there are not many for-sale condominiums in the Brooklyn area. In fact, many of the people who are interested in buying in the building have been previously renting in the area.

The remaining units for sale are priced between $700,000 and $1.6 million, with penthouses reaching $6 million.

With 53-stories, this tower is the largest in Brooklyn at the present time.

There is a lot that goes into a condo development such as this one, often starting with the conversion from another type of property. Once construction comes to an end, it is time for the sales and leasing team to take over.

Source: Crain's New York Business, "Sales soar at Brooklyn's tallest building" Mark Fahey, Jun. 24, 2014

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