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Development Update-O-Rama The Best-Selling Buildings Are All In Brooklyn And Toren Is Tops
Ladies and gentlemen, your best-selling building through the first three quarters of 2010: Toren! The Downtown Brooklyn zebra tower sold 99 units at an average price of $513,712, according to a PropertyShark report mined by Crain's. In second place was One Brooklyn Bridge Park, which sold 88 units. In fact, the top of the list is dominated by Brooklyn buildings that used big PriceChops to clear a backlog of inventory—near-foreclosures Warehouse 11 and Forté also hover near the top—which has us wondering if there are any bragging rights at all that come with being at the top of this list. Yes, we say! (Hey, times are tough out there.) According to the story, Toren had aimed to sell its apartments at $750 per square foot, but today the prices are averaging $690/sqft. True, but what it lacks in profits it more than makes up for in cultural cachet. There's a Toren drinking game, for crying out loud!
Tuesday, November 16, 2010