The Stahl Organization has released prices for its 144 condominiums at its 53-story, 378-unit hybrid tower at 388 Bridge Street, currently the tallest residential building in Brooklyn. The smallest one-bedroom condo will hit the market asking $730,000, while the priciest four-bedroom penthouse will ask just shy of $6 million, according to the developer. The building will house rentals and condos.
“There is a drought of apartments,” Roger Fortune, a vice president at the Stahl Organization, told the Wall Street Journal, referring to the low inventory of condos in Downtown Brooklyn and the low vacancy rate for rental apartments.
Halstead Property’s William Ross, who is overseeing sales at the 575-foot-high tower, told the paper that he had a list of over 400 potential buyers that had expressed interest in the condos even before prices were released.
The rental component of the building consists of 234 units, ranging from $2,540 per month for a lower-level studio to $6,290 per month for an upper-level two-bedroom. The units range from 490 square feet to 1,166 square feet, and renters will be able to move in by February. [WSJ] – Hiten Samtani