Condo projects are still a big part of the development picture in the outer boroughs, but Queens and Brooklyn took a step back in the value of its top condo filings this year.
The total projected sellout of the 10 largest projects registered with the state this year in Queens and Brooklyn was $1.06 billion, an 18 percent decline from $1.29 billion last year. It was still nearly triple the $384 million total of the top 10 from pandemic-ravaged 2020, but half of the 2019 sum.
Last year’s list was buoyed by Fortis’ Olympia Dumbo, which blew away all rivals with a $375 million projected sellout. This year’s top project was barely two-thirds of that.
Outside of the top spot, however, this year’s top 10 goes toe-to-toe with 2021’s. There are the same number of $150 million projected sellouts (three) and only one fewer $100 million sellout than a year ago.
Below are this year’s priciest condo filings in Brooklyn and Queens, based on offering plans accepted through Dec. 1 by the state attorney general.
1. 29 Huron Street, Greenpoint | Quadrum Global | $252 million
The most valuable filing outside of Manhattan this year belongs to Quadrum’s The Huron in Brooklyn.
The London-based firm bought a vacant warehouse on the site for $45.5 million in 2014. The development will include 171 units, ranging from studios to four-bedroom apartments. Amenities for the 175,000-square-foot, two-building development include an indoor saltwater pool, fitness center, playground and coworking spaces.
Sales for the Morris Adjmi Architects–designed project — which got a $126 million construction loan in July — launched in September when broker Ryan Serhant captained a boat party on the Greenpoint waterfront.
2. 144-49 Northern Boulevard, Flushing | CW Northern | $196 million
Sponsor CW Northern LLC filed plans to build Northern Parc in Queens four years ago. The HCRE-developed property will span 213,000 square feet, split between residential, commercial and community space.
The 17-story development will have 172 units. It is being designed by My Architect PC.
3. 45-30 Pearson Street, Long Island City | Ascent | $155 million
Ascent Development’s 130-unit Greene hit a bump earlier this year when brokerage Modern Spaces sued, alleging the developer canceled the brokerage’s exclusive sales agreement without cause.
Ascent bought eight properties to assemble the development site, spending $33.8 million over four years. In May 2021, the developer landed $48.2 million in construction loans to build the project, increasing its unit volume by 30 percent from initial plans filed in 2019.
4. 533 Pacific Street, Boerum Hill | Sterling Town Equities | $87 million
Sterling Town is putting up 41 units in Brooklyn, between 3rd and 4th avenues. The 11-story Post House is being designed by Isaac & Stern Architects.
Amenities planned for the development include a greenhouse that opens to a private courtyard, a fitness center, a children’s playroom and a pet spa. Compass launched sales at the condo in May, according to New York Yimby, and closings are expected to begin early next year.
Fourth Avenue, the western border of Park Slope, is gradually being converted from a vehicular thoroughfare lined with low-scale commercial properties into a more pedestrian-friendly residential boulevard with boxy apartment buildings and some restaurants.
5. 37-26 32nd Street, Long Island City | Zhongyin Lyu, Jianfei Chen | $78 million
Designed by Andreas Escobar and Steven Jacobs of SBJ Group, Eden Condominium was finished this summer, two years after construction began. It stands seven stories and includes 70 units.
Developers Zhongyin Lyu and Jianfei Chen projected a sellout of $71 million. Nest Seekers International is handling sales, with units priced at $550,000 to $1.2 million, or an average of $1,200 per square foot, according to BuzzBuzzHome.
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6. 37-19 32nd Street, Long Island City | Yiming Li | $68 million
Fewer than 500 feet away from Eden Condominium is competition in the form of Meridian Towers Condominium. The project is set to include 86 units. Yiming Li is the principal of the development group behind it.
7. 10 Quincy Street, Clinton Hill | Loketch, Meral | $68 million
The 46-unit development is underway at a site where the Salvation Army sold a warehouse to Loketch Group and Meral Property Group for $28.5 million in January 2020. S3 Capital Partners provided $50 million for the acquisition and redevelopment of the Brooklyn property.
Sales, led by Corcoran, launched in March, Brownstoner reported. Only two units are priced at more than $2 million at the site, which formerly housed a four-story, 19th century industrial building designed by Francis Kimball.
8. 350 Butler Street, Park Slope | Brooklyn Home Company | $56 million
The project, one of the largest condo filings in the second quarter, is being designed by Robert Litchfield Architect. Its 34 units are priced at an average of $1.6 million.
Exterior work on the 48,000-square-foot property was ongoing in June, according to New York Yimby. Construction of the 11-story building is expected be completed early next year, the publication noted.
9. 30-05 Vernon Boulevard, Astoria | $56 million
The Marina Astoria in the titular Queens neighborhood has projected sellout similar to that of 350 Butler but nearly twice as many units. Plans were filed for the 52,000-square-foot building nearly seven years ago.
Its 67 units are being sold for an average of $1,249 per square foot, according to NewDevRev. Nest Seekers International is marketing the luxury waterfront property, which includes a landscaped courtyard, fitness center, library, pet spa and co-working space.
10. 132-27 41st Road, Flushing | NY Excelsior Development | $41 million
Rounding out the outer boroughs’ top 10 is Century Tower in downtown Flushing. NY Excelsior filed plans in 2018 for a nine-story, mixed-use building, according to New York Yimby. There are 30 units in the development.