The Real Deal New York

Sales launch for condos on last vacant Dumbo waterfront spot

One John Street building marks fourth project in the area for Alloy Development

September 29, 2014 09:30AM
By Claire Moses

Renderings of One John Street in Dumbo, Brooklyn

Renderings of One John Street in Dumbo, Brooklyn

Sales officially launched Monday for condominiums located on the Dumbo waterfront’s last plot of undeveloped land.

New renderings of the units as well as floor plans were released on Monday by Alloy Development and Monadnock Construction, the site’s developers.

Construction at One John Street, a 12-story residential development located inside Brooklyn Bridge Park that will house 42 condominiums, has also started recently. Completion is expected mid-2016, said AJ Pires, a partner at Alloy Development. On Monday, the developer put seven units on the market. The three- and four-bedrooms range from 2,400 square feet to 3,600 square feet per unit.

Two penthouses – one priced at $4.95 million and one at $5.65 million – are being released. The building will ultimately have six penthouses, three of which will be duplexes.

Roughly a third of the apartments – or 14 units – in the building have already been sold, Pires said, as part of a friends and family event. Overall, prices range between $3.5 million and $8 million in the building.

Alloy is also bidding on a plan to build a much more controversial development, two proposed residential towers that will include affordable housing, on the other end of Brooklyn Bridge Park. No developer has been chosen for that project yet, but it has been met with opposition from the community.

Alloy and Monadnock won the bid to construct the building at One John in July 2013. The project is the firm’s fourth development in the area. The company also developed 185 Plymouth Street, which is now sold out, along with 192 Water Street and the Dumbo townhouses.

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