Sunday, September 12, 2010

Real estate ad: Beat the Nets to Brooklyn

Well, maybe real estate agent Delroy Bodley could use a little help with fonts and proofreading (click on graphic to enlarge), but he gets credit for being the first to presume that the arrival of the Atlantic Yards arena will boost downtown real estate values:
GET THE OLD BROOKLYN PRICES BEFORE THE NEW DOWNTOWN BROOKLYNS ARRIVES, THIS IS A AMAZING DEAL THAT JUST WILL GET BETTER & INCREASE IN VALUE AFTER THE NEW ARENA OPENS IN 2012.
If so, then shouldn't those luxury condos on the Atlantic Yards site go up lickety-split?

Well, maybe not. The apartment at issue is about $700 a square foot. Forest City Ratner, according to a KPMG report, is counting on sales prices of $1217/sf in 2015 up to $1369/sf in 2019.

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