Sunday, September 27, 2015

Synergy! 550 Vanderbilt sales office opens at arena (plus a pricey penthouse)

What a difference (nearly) 12 years makes. When Atlantic Yards was announced in December 2003, the project was to include 4500 rental apartments, half of them below market, and 2 million square feet of office space. Jobs, housing, and hoops.

By 2005, thousands of condos had been swapped for office space, and ultimately 1,930 condos were approved, for a project renamed last year Pacific Park.

Combine that opportunity with the continuing growth of the Brooklyn and Prospect Heights market and the result, as noted by DNAinfo in a report from the launch of a sales office for the first condo building, 550 Vanderbilt, a 2,859-square-foot penthouse condo with a wrap-around terrace, for $6.8 million. (Should we expect more articles when the other two penthouses are unveiled.)

And, featured at the sales office, as noted below, are the cookbook from Franny's (born April 2004) and food from Brooklyn Larder (born June 2009). In other words, the delay in construction certainly fueled increased property values.

And, as shown in the photos below from Twitter, the arena and Brooklyn surely offer synergy.

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