The priciest Brooklyn condo filings of 2019

The Front and York building in Dumbo topped the list with a value of $833 million

New York /
Dec.December 10, 2019 09:30 AM
From left: renderings of 1 Propect Park West, 85 Jay Street and 98 Front Street in Brooklyn (Credit: StreetEasy)

From left: renderings of 1 Prospect Park West, 85 Jay Street and 98 Front Street in Brooklyn (Credit: StreetEasy)

UPDATE: Tuesday, Dec. 11, 2019, 12:38 p.m: Yoga studios, private parks, multi-level fitness centers: Developers behind this year’s 10 priciest Brooklyn condo filings are leaning into health-conscious amenities in the battle for buyers.

In an effort to inspire visions of a lifestyle, rather than just a place to live, marketing materials for 98 Front in Dumbo claim spaces inside the property are “designed to practice self-care.” At another Front Street project, three blocks away at York Street, a sprawling private park is advertised as “over 25,000 Square Feet Of Magical Moments.”

With a valued sellout on acceptance more than $500 million higher than the second-placed filing, Front and York easily leads the top-10 list. The total sellout value of all the featured properties is slightly more than $2 billion — 14 percent lower than the total of last year’s list.

Condo developers clearly don’t see Dumbo’s popularity waning any time soon: Three of the borough’s top five developments this year are in the formerly industrial area. Most are new construction. The third-place project is a former nursing home across from Prospect Park and the 10th-place project, Barry Leon’s 475 Washington Avenue, is also a conversion.

1. Front and York Condominium, CIM Group, LIVWRK | $833 million
The Morris Adjmi–designed Front and York condo is the clear leader of this year’s top Brooklyn filings, with a sellout valuation slightly less than last year’s priciest, Tishman Speyer’s 481-unit project at 11 Hoyt Street.

Located in the center of Dumbo, the 408-unit Front and York condo features a private park, fitness center, game room, children’s playroom and indoor and outdoor pools. Listings range from a one-bedroom on the seventh floor asking $980,000 to a three-bedroom penthouse for $4.3 million. Construction is scheduled to be completed in 2021.

2. 98 Front Street Condominium, Hope Street Capital | $270 million
A distant second on the 2019 list, this project has just over half the sellout price of last year’s No. 2 finisher, a two-tower development looking over Brooklyn Bridge Park.

The 10-story development at 98 Front Street was designed by ODA and features 165 units, an indoor saltwater pool and a 7,000-square-foot rooftop deck. Occupancy is expected in spring 2020.

3. 1 Prospect Park West Condominium, Sugar Hill Capital Partners | $199 million
This massive building was constructed in 1925 as a fancy hotel and club but eventually deteriorated and became a nursing home. Rebuilt from the inside, it will offer 64 residential units, many with views of Prospect Park. The 10-story building will include a private art gallery, rooftop deck and residents’ club.

Sales, to be handled exclusively by Douglas Elliman, are expected to launch next fall.

4. 111 Montgomery Street Condominium, CIM Group, LIVWRK | $153 million
Located near the Brooklyn Botanic Garden, this 12-story building will feature 163 units, each with one to three bedrooms. Amenities include a landscaped rooftop terrace, a children’s playroom and fitness center. Its $153 million sellout trails last year’s fourth-ranked filing, the Brooklyn Grove at 10 Nevins Street ($197 million).

5. 168 Plymouth Street Condominium, Alloy Development | $132 million
Closing out the top five is another Dumbo property. This one brands itself as the “the last loft conversion in Dumbo,” bringing together two buildings around a private courtyard. The 46 units include townhouses, penthouses, brick-and-timber units and daylight factories.

6. 1 River Park Condominium, Fortis Property Group | $113 million
This distinctive building facing the Manhattan skyline is marked with curved terraces designed to convey a soft, undulating appearance. Inside, 48 units span over 20 stories. Amenities include an outdoor theater, heated outdoor pool and an open-air yoga deck.

7. 575 4th Avenue Condominium, Daten Group | $108 million
This 11-story building at the Gowanus end of Park Slope features a children’s playroom, music room, yoga studio and “community lounge.” According to a filing with the with the state attorney general’s office, the building includes 70 residences, three commercial units and 40 parking units.

8. Symon Condominium, Orange Management, Lonicera Partners | $92.8 million
Branded as “quietly elegant and thoroughly Brooklyn,” this boutique condominium at 76 Schermerhorn Street sits between Brooklyn Heights and Downtown Brooklyn. The development offers 59 units, including a four-bedroom penthouse asking $3.35 million, and a fourth-floor one-bedroom asking $805,000.

9. Winley Plaza Condominium, Golden Eighth Avenue Realty | $76.2 million
The condo filing for 5521 Eighth Avenue in Brooklyn’s Sunset Park details plans for 41 commercial condo units across roughly 42,500 square feet. Flushing developer Andy Wong is leading the project; his entity has owned the property since 1989 and previously filed condo paperwork in 2016.

10. 475 Washington Avenue Condominium, Barry Leon | $71.6 million
Long Island-based developer Barry Leon plans to turn a formerly rat-infested rental building into a condominium with 60 units.

Correction: This story has been updated to reflect that that 1 Prospect Park West Condominium will contain 64 units, not 63. In an earlier version of this story, Triumph Property Group was incorrectly identified as the developer of 98 Front Street.

Source: TRD analysis of condo plans accepted by the Attorney General between Jan. 1, 2019 and Dec. 2, 2019 in Brooklyn. Current sellout price is as of Dec. 2, 2019. 

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