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March 31, 2012

After Atlantic Terrace sells out condos, a search for a restaurant or gastropub close to arena for ground-floor space

Atlantic Yards Report

Brownstoner reported March 29:

Atlantic Terrace, the co-op on Atlantic Avenue with both market- and affordable-rates units, has sold out. The buildings hits the milestone about one-and-a-half years after hitting the market. Heather Gershen, the director of the Fifth Avenue Committee, said “we’re very pleased from both the timing and the pricing perspective” and that all units are expected to close within the year.

It obviously took longest to sell the market-rate units; I pointed out last October that the pricing was way less than Forest City once expected, though if Forest City's modular plan comes to fruition, its costs will be lower, and the prices also will fall.

link

Related coverage...

Brownstoner, All 80 Units Have Sold at the Atlantic Terrace Co-op

Atlantic Terrace, the co-op on Atlantic Avenue with both market- and affordable-rates units, has sold out. The buildings hits the milestone about one-and-a-half years after hitting the market.

NoLandGrab: The affordable-housing score — Atlantic Terrace 60, Atlantic Yards 0... despite the latter being announced four years before Atlantic Terrace even broke ground.

Posted by eric at March 31, 2012 11:21 PM