Corcoran replaces Halstead at Toren

TRD New York /
Jul.July 15, 2011 05:15 PM

BFC Partners Partners has hired the Corcoran Group as the new exclusive sales and marketing agent for the Toren at 150 Myrtle Avenue in Downtown Brooklyn, replacing Halstead Property Development Marketing, BFC announced today. Corcoran took over marketing the project today.

The 240-unit, 37-story condominium is 79 percent sold, with approximately 20 percent of the total sales taking place in 2011, according to BFC. The developer hopes to see the building sell out by the end of the year.

“Developers make these decisions for various reasons,” said Juliana Brown, senior managing director at Corcoran’s Fort Greene office. “Halstead’s been on it for a number of years and [the developers] felt they wanted a fresher face.”

Sales will be headed up by Corcoran sales agents Marco Auteri and Alexander Capoccia.

Sales began at the high-rise in March 2008 and were slowed down significantly by the economic downturn, Brown said.

However, in the last few months, Halstead has been achieving a sales rate of approximately 10 deals per month.

“We leave Toren secure in the knowledge that the development is properly positioned for the future,” said Stephen Kliegerman, president of Halstead Development Marketing, in a statement. He declined to comment further.

Brown said Corcoran was most likely chosen for the breadth of its connections and greater online presence than other firms. Still, she is not sure that the building will sell out by year’s end.

“What I hope versus actual reality may differ,” she said. “Those six months include the low of August… and Christmas and Thanksgiving towards the end of the year. Is buying a penthouse in Brooklyn going to be a top priority for people?” she said. “I don’t know.”

The building’s remaining apartments are on the larger end, Brown said. The top eight floors of the tower consist of eight one-bedroom penthouse units and 24 duplex penthouse units of two and three bedrooms. Active listings on range from one- to three-bedrooms and $560,000 to $1.48 million in price.

Among the building’s unique selling points are a 25-year 421a tax abatement, Brown said. The building also boats a multi-level roof garden, an outdoor screening area, a library, fitness center and indoor swimming pool.

Donald Capoccia, managing director and founder of BFC, was not immediately available for comment, but said in a statement: “It was a pleasure working with the Halstead team over the last three years. They guided us through a tough economy.”

Related Articles

49 East 10th Street and Barbara Corcoran (Credit: Google Maps and Getty Images)

Corcoran to shut down office in building partly owned by Barbara Corcoran

Corcoran President & CEO Pamela Liebman (Credit: Corcoran, Getty Images)

Welcome to Queens: Corcoran opens first borough outpost

Corcoran CEO & President Pamela Liebman (Credit: iStock)

Corcoran begins new lead-gen push via Facebook ads

Bill Cunningham and Citi Habitat's Gary Malin. The longtime president of sales is leaving the firm.

Corcoran shakeup: Bill Cunningham out; Gary Malin now COO

Realogy CEO Ryan Schneider

To pay off debt, Realogy to sell relocation biz for $400M

Cee Scott Brown and Jack Pearson

A top Corcoran team in the Hamptons bolts for Compass

Kate and Brian Meier

Corcoran’s Brian Meier heads to Christie’s

From left: RealPlus' Eric Gordon, Corcoran's Pam Liebman, Halstead's Diane Ramirez, Douglas Elliman's Howard Lorber and Brown Harris Stevens' Bess Freedman (Credit: Eric Gordon by Emily Assiran, Getty Images, Halstead, BHS, iStock)

Terra sells part of RealPlus stake to Corcoran and Elliman