A converted Williamsburg warehouse that was once the base of operations for a prominent bourbon distributor was the priciest condominium filing approved by the New York Attorney General’s Office in 2016.
Kushner Companies is turning the massive Cass Gilbert-designed Austin Nichols House at 184 Kent Avenue into luxury condos, and planning to make a tidy profit while they’re at it. The accepted sellout price of $427.3 million makes it the borough’s most expensive condo filing of 2016, according to analysis by The Real Deal.
Brooklyn is a hive of development activity right now, and sales prices in the borough hit record levels in the third quarter of 2016. The median price of condos reached $812,008 and new development condo prices climbed 27 percent year-over-year to $778,452. We looked at the condo offering plans accepted by the Attorney General in 2016, and ranked the biggest projected sellouts in the borough.
Project include: Austin Nichols House, Hendrik Condominium, The Standish, The Nevins, The Baltic, 251 First Street, Vue Condominium, Polhemus Residences Condominium, 755 Kent Avenue, and Venetian Condominium.
171 Columbia Heights
Developer: DDG and Westbrook Partners
Project Sellout: $116 million
DDG is joining forces with Westbrook Partners to convert the former Standish Hotel in Brooklyn Heights from rentals to condos. It’s the first time DDG, led by CEO and Chairman Joseph A. McMillan, Jr., has forayed into Brooklyn.
The companies paid Taurus Investment Holdings $60 million for the building. Taurus had converted the property from a hotel into a 94-unit rental building after buying it from the Jehovah’s Witnesses for $50 million in 2007.
The beaux-arts building will feature a 24-hour doorman and concierge service, a fitness studio, a playroom, a landscaped rooftop terrace with harbor views, and has resident storage and bicycle storage available for purchase.