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Manhattan may be home to the priciest sellouts, but Brooklyn appears to be the land of opportunity for the city’s condominium developers.
The borough was home to nine of the city’s 10 largest condo filings accepted by the Attorney General’s office in the second quarter, with the projects combining for a $160.8 million projected sellout across 181 units.
Still, Manhattan claimed the top spot with L+M Development Partners affiliate LMXD, Daiwa House Texas and Lendlease’s 41-story mixed-use tower at 100 Claremont Avenue in Morningside Heights, adjacent to Columbia University’s Union Theological Seminary. The developers are aiming for a $133 million sellout across 165 residential units, according to the filing plan. They could face an uphill climb: Sales of new development condos citywide plummeted 30 percent last month, falling below pre-pandemic levels for the first time this year.
Last year, the developers secured a $250 million construction loan for the project, which was designed by Robert A.M. Stern Architects and SLCE Architects, according to filings.
Second on the list, in terms of the number of units, was AIG Developers’ project at 323 Lenox Road in Flatbush, where 49 condos have a projected sellout of just under $30 million, according to the offering plan. The seven-story building was designed by Studio C Architects.
Corcoran’s Roni Dotan is handling sales for the building, where units start at $499,000, according to Yimby.
Third on the list is 350 Butler Street in Park Slope. Designed by Robert Litchfield Architect and developed by The Brooklyn Home Company, its 34 units have a projected sellout of $56 million, or $1.6 million each — the priciest of the 10 projects on the ranking.
Titan Realty & Construction is the general contractor on the nearly 50,000-square-foot building, according to Yimby. Marcus Attorneys’ Guillermo Santiago is the sponsoring attorney on the plan.
The fourth-biggest plan by number of units was another Park Slope project developed by the Brooklyn Home Company. Designed by Mesh Architecture, the building at 670 Union Street has 14 units and a $30 million projected sellout.
Fifth on the list is a 14-unit building at 2135 Homecrest Avenue in the Homecrest area of South Brooklyn, with a nearly $6 million projected sellout. An entity called Chan on Homecrest, Inc. is developing the project.