550 Vanderbilt (at Dean). Pacific Park, FKA Atlantic Yards

whynot_31

"Groundbreaking for 550 Vanderbilt is set to occur by the end of the year, with sales starting mid-2015."

Source and more text: http://newyorkyimby.com/2014/10/revealed-550-vanderbilt-avenue-17-story-pacific-park-brooklyn-condo-tower.html

The ramen place, Chuko, is in the small building on the left

foolio

looks like theyre removing the tree and bushes my dog likes to pee in. not looking forward to a year of construction noise

whynot_31

Of the many large developments coming to the area, I believe this is the only one which has declared it will be a condo.

I expect prices to be around $1100 a sq ft, depending on finishes.

chekhovian

What is the tallest building in the Flatbush/Atlantic/Utica/Eastern parameters?

I'm guessing it will be one of the Barclays Center buildings when completed.

Vanderbilly

Despite my mild concern that this building could block the tiny splinter of manhattan I can see from my window, I'm a little excited for this whole project to get underway. 

I can't help but to imagine what 400,000 sq ft of ground floor retail will look like spanning those blocks btwn vandy and barclays.   It's like a whole new neighborhood sprouting up.

  

chekhovian

A whole new neighborhood called Pacific Park.

whynot_31

Pacific Park may have as many residents as Prospect Heights currently has....

whynot_31

The area is now surrounded with construction fences, and ground breaking was today (12/15/2014) for the building that will go up on Carlton.

The corner of Vanderbilt and Dean is visible on the right side of this photo:


Photo via Laurie Cumbo's Facebook feed

Here's the developer's website: http://pacificparkbrooklyn.com/

foolio

even though no new information has been presented i didnt grasp just how large this project was until just now. 14 buildings? thats like a micro stuy town. definitely will make vanderbilt much busier in all regards when all is said and done.

pheightsresident

Not only Vanderbilt, but Washington, Flatbush (as if Flatbush needs anymore foot traffic) and even Franklin will benefit greatly from increased foot traffic and consumer spending. 

ehgee

What's the zoning on that McDonalds? It can't last long after all these towers go up.

whynot_31

It could last a while: The owner is likely earning more from appreciation of the land than from selling combo meals. If I were them, I would do that for as long as I had nothing that provided a higher ROI.

Press re: the beginning of Pacific Park
http://www.nydailynews.com/new-york/brooklyn/de-blasio-hails-affordable-complex-3-500-apartments-article-1.2046637

http://ny.curbed.com/archives/2014/12/16/first_look_at_pacific_parks_shopdesigned_affordable_building.php

http://www.wsj.com/articles/second-apartment-tower-near-barclays-center-in-brooklyn-new-york-breaks-ground-1418668908

ehgee

I suppose any new condos there will have a lot of competition until Pacific Park is filled up. And that might take us through the next market cycle.

suppleknuckles

man, this does sort of bum me out. when i lived on dean and washington, on a fine day i would sit on the bench outside woodwork and experience spectacular sunsets over that parking lot. those days are clearly over. i don't live in p heights anymore so i guess i can't be too bummed.

i am a little glad they're condos. i'm sure they'll be insanely expensive when they finally hit the market, but it does seem like pickings are really slim for people looking to buy in this part of brooklyn these days.

whynot_31

Construction on the rest of the Pacific Park is now beginning:

http://therealdeal.com/blog/2015/02/19/forest-city-moves-to-build-23-story-resi-building-at-pacific-park/

psbklyn

I hope the new inhabitants will have the good sense not to have cars!  I've lived in Cobble Hill (12 years) and Prospect Heights (5 years), and I think the construction that's been already been done has changed this general area of Brooklyn into something that's more Manhattan-like.  I'm not sure it's necessarily benefited all of the businesses in the area, either -- Marco's closed, despite a rave review in the NYT -- and there are other vacant spots on Flatbush and Vandy.  

I'm sure it seems cool for new young people with money moving in, but the area has already grown very congested and that's going to really ramp up with two new apt complexes on Dean St between Flatbush and Vanderbilt).  

People who prefer a sleepier Brooklyn now need to go quite a bit south. There don't seem to be many areas to throw up large apt complexes in South Brooklyn/Windsor Terrace/Park Slope, thankfully.  I think that's a good thing.  I'm on my way out of Brooklyn, which I feel sad about, but the areas I've loved no longer hold the appeal they did 10-20 years ago. 

ehgee

I hope the new inhabitants will have the good sense not to have cars!  I've lived in Cobble Hill (12 years) and Prospect Heights (5 years), and I think the construction that's been already been done has changed this general area of Brooklyn into something that's more Manhattan-like.  I'm not sure it's necessarily benefited all of the businesses in the area, either -- Marco's closed, despite a rave review in the NYT -- and there are other vacant spots on Flatbush and Vandy.  

I'm sure it seems cool for new young people with money moving in, but the area has already grown very congested and that's going to really ramp up with two new apt complexes on Dean St between Flatbush and Vanderbilt).  

People who prefer a sleepier Brooklyn now need to go quite a bit south. There don't seem to be many areas to throw up large apt complexes in South Brooklyn/Windsor Terrace/Park Slope, thankfully.  I think that's a good thing.  I'm on my way out of Brooklyn, which I feel sad about, but the areas I've loved no longer hold the appeal they did 10-20 years ago. 

The issue is that practically everyone wants a quiet safe neighborhood just outside the main center of activity. If the law is used to keep such a neighborhood intact at its current scale, it becomes astronomically expensive, as we've seen with Greenwich Village/Park Slope/Cobble Hill/etc. Especially when a million people have moved here over the past 20 years or so, and they generally want to live along the subway rather than at the far fringes of the city.

There is, in fact, plenty of room to throw up large apartment complexes in South Brooklyn. The lots of small woodframe houses in South Slope would be a natural spot, but it's mostly illegal under zoning laws. Instead such houses are becoming astronomically expensive, despite being built as humble workingman's housing.

psbklyn

I don't disagree with you, ehgee.  As I said, clearly there are people who think the changes to these areas are great and find the 10-20 floor apt complexes awesome.  I don't happen to, although I get their appeal for newcomers.  I suppose you're right that they're keeping prices down, although not at reasonable levels at over $2k for a 1BR.

I'm just glad there a still charming and quiet pockets in Brooklyn Heights, Carroll Gardens, Ft. Greene, Park Slope, etc.  I'm not willing to spend the money for the abbreviated space I can afford in these areas, but I still really enjoy walking around in them.

whynot_31

550 Vanderbilt has a teaser site up, presumably because it expects to be able to sell some units before the building is complete.

http://news.buzzbuzzhome.com/2015/02/550-vanderbilt-pacific-park.html

ehgee

http://550vanderbilt.com/cn/

something something target market something something

That said, hopefully having these flooding into the market will pull down pricing on the Clinton Hill Coops.

whynot_31

The complex is now owned by Chinese investors, so I now wonder if that version of the site is for those investors.

From my understanding many of the investors will be benefitting from a program that rewards them with US citizenship.

https://www.google.com/search?hl=en&source=hp&q=chinese+investment+in+us+for+citizenship&gbv=2&oq=chinese+investment+US+citizen&gs_l=heirloom-hp.1.0.0i8i30.1172.8160.0.10953.29.22.0.7.7.0.452.2087.19j2j4-1.22.0.msedr...0...1ac.1.34.heirloom-hp..0.29.2117.xbyQ9uDYAHg

whynot_31

While the text below is interesting, what I find most revealing is that this project is being described in the same breath as these other 12 buildings:

http://m.nydailynews.com/life-style/real-estate/13-hottest-new-nyc-condos-hitting-market-article-1.2186549

"In Brooklyn, a behemoth is coming. Greenland Forest City Partners, a partnership between Barclays Center developer Forest City Ratner and Chinese real estate giant Greenland Holding Group, is slated to launch sales at the first of four expected condo towers comprising its massive Pacific Park project in June.

The 17-story luxury tower, under construction on the northwest corner of Vanderbilt Ave. and Dean St. in Prospect Heights, will have 278 units ranging from studios to four-bedroom homes, priced from $550,000 to $5 million. Buyers won’t be able to move in until late 2016, though, since the building is still under construction.

The property, designed by top architecture giant COOKFOX, will have a landscaped roof terrace, a residents’ lounge, a library, a playroom and a fitness center. It’s slated to overlook a brand new 8-acre park, which is also planned as part of Pacific Park.

Corcoran Sunshine Marketing Group is heading up sales."

suppleknuckles

rode my bike down dean st last weekend and was shocked to see they put up the most imposing wood-painted-green construction fence i've ever seen. it's actually about 2 stories high. sort of creepy to ride next to. 

wouldn't be fun to live in the first two floors of any apartment building across the street

whynot_31

I assume the section of the fence that lines Vanderbilt will be taken down once they complete this building, but I expect the rest of it to be up until at least 2019.

It is going to be weathered and warped by then.

whynot_31

The next building has been approved: 26 stories. 615 Dean

http://therealdeal.com/blog/2015/06/01/pacific-park-is-getting-a-new-26-story-resi-tower/

pheightsresident

I guess this will be in the middle of the block? Good to see progress coming along. 

whynot_31

363,000 BSF.
278 ft tall.

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=1&passjobnumber=320625267&passdocnumber=01

ehgee

Looks like the basement hole has been concreted in.

whynot_31

Here's the latest rendering for the entire site when complete.



Here's the latest succinct description:

http://therealdeal.com/blog/2015/06/01/pacific-park-is-getting-a-new-26-story-resi-tower/

suppleknuckles

ohhhhhhhhhhhh man

crownheightster

Are they going to empty Manhattan to fill these towers? Whoa.

whynot_31

Manhattan, along with the city as a whole, will continue to grow.

These buildings with be filled with people's primary and secondary residences, along with office space and retail.

ehgee

Are they going to empty Manhattan to fill these towers? Whoa.

Fun fact— NYC has gained around 1.3 million residents in the past 25 years.

whynot_31

One can now buy units at 550 Vanderbilt.

http://www.brownstoner.com/blog/2015/06/atlantic-yards-condos-on-vanderbilt-debut-at-565000/

...but you can't move in yet.

Vanderbilly

$565k for a 415 ft studio.   And that's the earlybird special!

My guess, these units will find Chinese buyers paying all cash upfront, who will rent them out and just barely scrap a monthly profit.  Anyone paying a mortgage on a unit like this ends up with 3K in monthly expenses.  That's too much for a shockingly tiny studio on Atlantic Avenue in prospect heights.

http://marketplace.brownstoner.com/listing/CORCORAN-3468961/550-vanderbilt-331-downtown-brooklyn-prospect-heights-brooklyn-ny-11201/

crownheightster

Shockingly expensive. Never did I think studios on Atlantic Yards would cost more than half a million dollars.

whynot_31

"Anyone paying a mortgage on a unit like this ends up with 3K in monthly expenses."

Mortgage?

I suspect the vast majority of the people buying in these buildings will buy the units largely in cash.

For some, it may be a second home that is rarely used.

Other may choose to have a mortgage, but only to the extent that the tax benefits suit them.

....I don't think these units are going to be filled by residents trying to make ends meet.

More press:

http://www.550vanderbilt.com/

http://www.nytimes.com/2015/06/14/realestate/first-condos-soon-for-sale-at-barclays-center-site.html?_r=1

ehgee

Do y'all seriously think there won't be many owner-residents in this building? The $800,000 price for a 1-bedroom is well within the price range for a professional couple— something like $3,000 a month for the mortgage with good credit. Obviously it's not easy for anyone to save the down payment for that kind of mortgage, but there are a lot of jobs that enable that kind of saving in Manhattan. And the whole inequality thing also means that couples with 6-figure jobs jobs likely have rich parents that could 'help', and might well feel inclined to give their children a nice wedding gift instead of waiting to pass everything on when they die.

My impression is that the all-cash international buyer is either an investment fund buying in neighborhoods they think will appreciate fast like Bed-Stuy, or an individual parking money in a fancy neighborhood in Manhattan. The merely wealthy are then priced out to units like these.

People pay $3,000 a month to rent at 341 Eastern Parkway:

http://streeteasy.com/rental/1502247-rental-341-eastern-parkway-crown-heights-brooklyn

And  people pay almost $3,000 a month for a rental in 500 Sterling, which seems like a poorly-built building in an inferior location:

http://streeteasy.com/rental/1335566-rental-500-sterling-place-crown-heights-brooklyn

http://www.brownstoner.com/blog/2015/03/renters-upset-about-insane-coned-bills-to-heat-crown-heights-luxury-building/

And obviously you don't get a rental as a place to park your money.

People are likewise paying similar money for condos/rentals in worse locations in terms of commute & immediate neighborhood:

http://streeteasy.com/building/500-4-avenue-brooklyn/5d

http://streeteasy.com/building/475-sterling-place-brooklyn/2e

http://streeteasy.com/rental/1398748-rental-500-4th-avenue-gowanus-brooklyn

The prices are stupid-high, but they're pretty much in line with what people are paying in Brooklyn these days. Hopefully Atlantic Yards will sop up some of the demand that would otherwise shoot ever-further into PLG and Crown Heights.

whynot_31

"Do y'all seriously think there won't be many owner-residents in this building?"

For the project as a whole, I expect that about 80% of the market rate units will be occupied by tenants more than 70% of the time.   Meanwhile, I expect 99% of the rent stabilized (affordable) units to be occupied, more than 99% of the time.

I believe 550 Vanderbilt is all market units.

Pacific Park will create a bunch of units:
"In all, the plan, now more than a decade in the making, calls for 14
residential buildings with 6,430 apartments, including 2,250 subsidized
units, with a completion date of 2025."
 
http://www.nytimes.com/2015/06/14/realestate/first-condos-soon-for-sale-at-barclays-center-site.html?_r=0 

...but I don't know that we will ever be able to definitively declare it affected the changes occurring in elsewhere.  

 

thedept

Here's the latest rendering for the entire site when complete.



Here's the latest succinct description:

http://therealdeal.com/blog/2015/06/01/pacific-park-is-getting-a-new-26-story-resi-tower/

Hang on, they may have left half a foot or so of unbuilt space. Quick, someone design an ultra-skinny condo!

whynot_31

Make sure not to cramp the new park (for which the development is now named), or the new K - 8 school that will be located in the complex!

http://www.brooklynian.com/discussion/45695/pacific-park-to-create-new-middle-school-for-prospect-heights/p1

Vanderbilly

On the Apt prices.  I do think they're high.  

3k for a 1 bedroom is totally normal in this city now.  But we're talking 630 ft. Thats quite a bit smaller than average.  I live in a condo building of all 600ish ft units.  Its almost all singles here.  Couples can make it work in this space, but at 4k (mortgage plus CCs), dual owners should opt for the one amenity that this place can't offer, space.  They can still find it at that price, elsewhere in the neighborhood.

maggie

@whynot_31, just to clarify there is no decision about what kind of school will be located in the complex, other than that it will be a public school facility that is presently proposed to be constructed so its spaces would be suitable for middle school or elementary school students, or both.  in this district almost all of our schools are co-located with middle school students in elementary school buildings and vice-versa, and how the building is constructed does not predict its ultimate usage.

prospect heights residents and the larger school community of the district where pacific park is located are urging the DOE to make it into a dedicated middle school. we have been told that no decisions will be made about the utilization of the school for many months, but we are continuing to advocate strongly so the DOE can begin to work with us pro-actively and so parents can know that there are new, high quality options on their way.  we're looking to get more input from the stakeholder communities - parents, educators, and potential arts, cultural and tech institutions that could be partners in a first-rate middle school for our district. if anyone is interested in being involved, feel free to DM me! 

whynot_31

Ok, I'll just call it "a public school" for now.

whynot_31

On the Apt prices.  I do think they're high.  

3k for a 1 bedroom is totally normal in this city now.  But we're talking 630 ft. Thats quite a bit smaller than average.  I live in a condo building of all 600ish ft units.  Its almost all singles here.  Couples can make it work in this space, but at 4k (mortgage plus CCs), dual owners should opt for the one amenity that this place can't offer, space.  They can still find it at that price, elsewhere in the neighborhood.

Can they?

Check out these interiors and finishes. http://newyorkyimby.com/2015/06/revealed-more-interiors-for-550-vanderbilt-avenue-pacific-park.html

BTW, a rendering for 38 Sixth Avenue was published today. It will rise in an area that used to have bike rikes.

whynot_31

Here's a nice overhead view of the buildings. The ones with the little arrows are presently in construction. The rest are planned.

Curbed published it.

crownheightster

I wish that they would have an affordable condo option. Like, affordable for moderate income homeowners. I'd say that they ideal would be 2 bedroom units for around $400-500,000, maybe three bedrooms for up to $700,000, depending on size and view. It could be a lottery, like Navy Greene.  

whynot_31

There are still Mitchell Lama and HDFC coops around:

http://www.nytimes.com/2014/06/29/realestate/affordable-new-york-apartments-with-a-catch.html?_r=0

http://www.nyshcr.org/Programs/Mitchell-Lama/

...but using those types of subsidizes to create NEW ownership housing for NYC's middle class has fallen out of fashion.

whynot_31

Renderings of the park that will be created in the center of the buildings.

http://therealdeal.com/blog/2015/06/24/a-look-at-forest-citys-8-acre-pacific-park-green-space/

There is no word whether it will have the private security and clean up crews that places like Battery Park City employ, but that seems likely.

Vanderbilly

I can't help it.  I find it fun to imagine what walking through this thing will be like.  One interesting note from the daily news article this came from, while the park is slated for 2025, there will be a swarth of park completed next year with the opening of the first Vanderbilt tower. So, the couples in those tinsy 4k 1 bedrooms (on floor 2!) have something besides a hard hat war zone to peer off on to.  

whynot_31

I think you are correct in stating that the park off Vanderbilt, despite opening next year, will largely be looked at until the majority of the complex is complete in 2025.

The noise and the dust won't make it a pleasant place to sit or stroll until then.

whynot_31

The large green plywood construction fence that surrounds the site will soon be home to murals and art:  http://www.brooklyneagle.com/articles/2015/7/20/pacific-park-brooklyn-unveils-‘pacific-park-arts’-collaboration-crown-heights

suppleknuckles

ugh don't even get me started on mike perry >_>

whynot_31

The fence will come and go.

...but the impact of 550 Vanderbilt is here to stay.

636 sq ft in it will run you $960k.
1 BR, 1 BA

http://www.corcoran.com/nyc/Listings/Display/3481725

whynot_31

The 20' high plywood fence will soon have murals. The peasants will be given hotdogs.

whynot_31

Road closure tomorrow:

whynot_31

Here is a view of 550 Vanderbilt from the to-be-created park, looking east:



http://www.archdaily.com/768997/cookfox-architects-550-vanderbilt-condo-opens-for-sale

Vanderbilly

It's hard to imagine this as the view from the western end looking east.  In reality the building construction comes right to the sidewalk.  I don't know where those embankments of grass would sit.  There should be a building on top of that young couple. 

whynot_31

That's the beauty of renderings; They are not actually part of the offering plan.

So, the people who are buying these units do not have any real recourse if (after closing) they conclude the buildings and the surrounding park do not really look like this.

I'm also interested in seeing how this privately run "open to the public" park is going to operationalize that concept.

Will they dedicate the resources required to keep the homeless out, as Brooklyn Bridge Park, the High Line, and Battery Park City have done?

homeowner

I think they'll find it easier to keep out the homeless by keeping out the public a la many of the other privately operated public spaces in the city. What this really means is that access will be for limited hours of the day and won't involve teens, people on bikes, skates, skateboards, or any engaging in any other activity normally found in a park.

whynot_31

The above rendering does not show any benches, so they are off to a good start at creating a venue one merely passes through.

I assume that the operators will couple this lack of benches with a rule that says you can not obstruct the walkway (ie stop on it).

All of which will successfully create what the customers seek: A museum to trees and landscaping reminicent of some of the best "you can only come in if you have a bracelet" resorts.

whynot_31

It will soon become very noisy, until late.

Vanderbilly

8 am on a saturday morning?  Drilling?   Can they possibly have an argument as to why this is remotely necessary?

By the way, biked by this morning.  I counted 8 stories so far on the shorter portion of the building.  That's already taller than the picture.   Mr. Oder, what say you?

whynot_31

They making progress



more photos:
http://ny.curbed.com/archives/2015/10/21/pacific_parks_550_vanderbilt_takes_shape_in_brooklyn.php#more

capa1010

Almost a story by week, right? It's already feeling very Manhattan down there......

notsayin

As of this morning...

notsayin

Really? Is it only me? Across multiple devices over many years?!

notsayin

I inverted the second one...same result.

whynot_31

I don't know why it works on my phone and not yours

rogers_sterling

My wife and I were walking by Friday night, and the construction site was making all sorts of noise in the wind. It didn't look secure, and there was someone there recording video. Anyone who live near there know anything about this?

whynot_31

Atlantic Yards Community Update meeting

When: Wednesday, December 9, 6:00PM
Where: 55 Hanson Place, First Floor Conference Room

Greenland Forest City Partners will present an overview of the upcoming construction activities surrounding the project. Please plan to arrive promptly in order to provide time for presentations and questions and answers from the community members. If you have any questions please contact Nicole Jordan at atlanticyards@esd.ny.gov.

whynot_31

When this project began, FCP was required to hire local workers.

In response, it agreed to make one of the buildings composed of modular units and construct them at the Navy Yard.    Some people claimed that this would foster similar projects in the future.

Well, I hope they were looking into the distant future, because it seems this method of constructing buildings is economically not feasible to the degree that the Navy Yard facility will be closed once the building is completed. 

Here's press on how the first building has now topped out.

whynot_31

A collection of the renderings:

http://www.brownstoner.com/blog/2015/12/pacific-park-rendering-664-pacific-street-b15/

whynot_31

Units in 550 Vanderbilt continue to be pricey:  http://www.550vanderbilt.com/availability

whynot_31

550 Vanderbilt now topped out 

whynot_31

Applications for affordable apartments at 461 Dean Street to be available in February

In February 2016, applications will be accepted for 181 affordable rental apartments at 461 Dean Street in the Pacific Park (also known as Atlantic Yards) development. Prospective applicants may contact MHANY Management for more information at (718) 246-8080, ext. 224, by email to pacificpark@mutualhousingny.org, or through the HPD Housing Connect web site at http://www.nyc.gov/housingconnect.

whynot_31

535 Carlton now topped out. http://newyorkyimby.com/2016/02/pacific-parks-first-affordable-building-tops-out-at-535-carlton-avenue.html

whynot_31

whynot_31

A description of most of the buildings is now up:  http://pacificparkbrooklyn.com/living/ And, windows are going in on Vanderbilt

whynot_31

The buildings to be built along 6th Avenue now have renderings:

 http://newyorkyimby.com/2016/03/new-renderings-released-for-38-sixth-avenue-in-pacific-park.html

whynot_31

6th Avenue site now going up:

http://newyorkyimby.com/2016/04/23-story-303-unit-affordable-residential-tower-rises-at-38-sixth-avenue-prospect-heights.html

whynot_31

https://twitter.com/lowenliu/status/720074379200176128

whynot_31

Some details re: the affordable units in 461 Dean http://ny.curbed.com/2016/4/26/11511436/pacific-park-modular-building-461-dean-affordable-housing-lottery

more:  http://fortgreenefocus.com/blog/2016/04/26/181-units-lottery-tomorrow/

whynot_31

whynot_31

whynot_31

Advertised in surrounding CBs as well:

whynot_31

Despite not being ready for occupancy, 550 Vanderbilt is now 50% sold.

http://therealdeal.com/2016/06/29/pacific-parks-550-vanderbilt-is-50-percent-sold/

"Nine months after officially launching sales, Pacific Park Brooklyn’s first condominium building is 50 percent sold, the developer said.

More than 140 units at 550 Vanderbilt Avenue are now in contract, with a blended average sale price of $1,500 per square foot."

whynot_31

Prices of the remaining units:

http://550vanderbilt.com/availability/

whynot_31

whynot_31

whynot_31

snazzy promo video:

 

https://twitter.com/pacificparkbk/status/768537282504720384

foolio

pacific park: where exclusively rich white people live

nice that they shot in the neighborhood but they could have at least *tried* to put people of color in it. 

whynot_31

Lottery for the affordable units at 535 Carlton now open.

 http://affordable.535carlton.com

howncreights

@foolio, wow.  That is pretty astonishing.  Maybe it is secretly a Trump building...

whynot_31

On Sunday, there will be open houses at 550 Vanderbilt.   ...might be the only time I ever get to visit.

 http://streeteasy.com/building/550-vanderbilt-brooklyn

whynot_31

Not many units remain unsold at this point, and they are stating "immediate occupancy"

 http://550vanderbilt.com/availability/

foolio

this article indicates that they still had over 100 units available at 550 vanderbilt (as of 6 weeks ago) and sales have been slowing down. now that they've decided theyre not going to build the other towers on that block, i wonder if they will still build out the planned public park there. that was the only silver lining to that whole monster project

https://therealdeal.com/2017/02/27/sales-at-forest-city-greenlands-550-vanderbilt-slow-down/

whynot_31

I have read of an overall slowdown in the luxury condo market.

Also, this building is not close to trains.

crownheightster

And they don't have their beautiful Pacific Park yet.

Vanderbilly

And those who bought one bedrooms to rent out, just from a model they viewed in a showroom in Hong Kong will have to ask $4000/month rent to cover their monthlies. 

whynot_31

I wonder how much of a factor Trump plays.

IE Part of the appeal of these apartments are that they make the buyer eligible for citizenship.

Has the perceived value of citizenship been decreased as a result of Trump's proposed spending cuts, and general persona?