Last condos left at 160 Imlay St. will hit the sale market this spring
Eye on Real Estate: Residential conversion of Red Hook's New York Dock Co. Building continues
Ghost-white 160 Imlay St., which has been shrouded in black construction netting for oh so long, has a surprising new look.
It’s covered from top to bottom in tightly sealed sheets of plastic.
“We wrapped the building before Christmas,” Patty LaRocco, a licensed associate real estate broker at Douglas Elliman who is in charge of condo sales at the Red Hook development, told the Brooklyn Eagle. “It keeps the heat in.”
Warm air is piped into the property from portable heaters to improve working conditions for construction crews. They are on the job seven days a week at the historic cast-in-place concrete building, which has been undergoing a residential conversion for the past three years.
Est4te Four, a development firm that first made its name in Milan, is turning six-story, century-old 160 Imlay St. into 70 condos plus first- and second-floor commercial space.
Until recently, there was no glass in the former New York Dock Co. building’s huge windows, which are 12 feet by 16-and-a-half feet in size. On cold days, freezing winds whipped through the long-vacant structure.
Now window frames have been installed on the building’s residential floors, namely the third through sixth floors. Sixty percent of the window glass is in. The elevators are being put into place.
“It’s full speed ahead,” LaRocco said.
Initially, condo sales were expected to close in September 2016. The project got delayed a year, she noted.
The building’s interior is being laid out as five separate “cores,” with each core consisting of apartments clustered around an elevator instead of lined up along hallways.
In three of 160 Imlay St.’s five cores, condo sale closings are expected to take place by October 2017, LaRocco said. For apartments in the fourth and fifth cores, closings will take place after that.
Indoor parking for penthouse owners
Sale contracts were signed in 2014 for the 56 apartments that LaRocco released to the market back then.
The apartments that were kept off the market will be put up for sale in the spring, she said.
Six of them are penthouses of 2,800 to 4,000 square feet in size, “white boxes” whose purchasers will pick out the finishes themselves and do their own buildouts, LaRocco said. One is a “super-penthouse” on the roof of 160 Imlay St. That condo’s purchaser will also do its buildout.
The other units that will hit the market are 973 to 1,750 square feet in size and are on the east side of the building, which doesn’t face the shoreline.
Asking prices for this final batch of condos, with the exception of the “super-penthouse,” will range from $1,100 to $1,300 per square foot, she said.
Tenants have not yet been chosen for commercial spaces on the first two floors of the building.
“Nothing has been solidified. A lot of people want the spaces,” she said. “Some local tenants are under consideration.”
Residents’ common spaces, a gym and 10 indoor parking spaces for penthouse owners will also be located on these floors.
LaRocco, who currently lives in Manhattan, plans to move to 160 Imlay St.
She bought a water-facing two-bedroom condo on the fourth floor of the building.
Low-rise buildings on the Brooklyn-Port Authority Marine Terminal’s Pier 11 stand between 160 Imlay St. and Red Hook’s shoreline.
From shoreline-facing condos on the third floor, you can see the Statue of Liberty and the Manhattan skyline, LaRocco said.
On the fourth floor, you start seeing water.
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