Brooklyn new development overview

Yoga studios, private parks, multi-level fitness centers: Developers behind last 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 85 Jay Street, another Front Street project a few blocks away, 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 anytime 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.

10 Priciest Brooklyn Condo Filings Accepted in 2019

RankPropertyDeveloperSelloutResi Units
185 Jay StreetCIM Group; LIVWRK$833M408.00
298 Front StreetHope Street Capital$270M165.00
31 Prospect Park WestSugar Hill Capital Partners$199M55.00
4111 Montgomery StreetCIM Group; LIVWRK$153M163.00
5168 Plymouth StreetAlloy Development$132M46.00
6336 and 354 Hicks StreetFortis Property Group$113M48.00
7575 4th AvenueDaten Group$108M70.00
870 Schermerhorn StreetOrange Management; Lonicera Partners$92.8M59.00
95521 8th AvenueGolden Eighth Avenue Realty Corp.$76.2M41.00
10475 Washington AvenueBarry Leon$71.6M60.00
Source: First published in December 2019 on TRD analysis of NYS Attorney General data on Brooklyn projects filed in 2019. The sellout price is the current price.

Most Active Brooklyn Developers in 2019

Rankdevelopersq. of
1Brodsky Organization1.2M2
2Arker Companies1.1M8
3 (tie)LIVWRK$916,0252
3 (tie)CIM Group$916,0252
5Hudson Companies854,4225
6Two Trees Development807,3881
7L+M Development Partners739,7284
8Halcyon Management690,5603
9Extell Development689,5591
10Fortis Property Group685,8156