Wednesday, March 26, 2008

Oro Condo, Downtown Brooklyn, More Than 50 Percent (Sort of) Sold?

As seen from the west, the 40-story Oro Condo towers over much of Downtown Brooklyn. (That's part of Concord Village out in front.) The Oro stands at 306 Gold Street.

How are sales? Joe Chan, President of the Downtown Brooklyn Partnership, in a letter to the Brooklyn Eagle on March 14, disputed that they were "lagging." He said that, as of March, the Oro Condominium was over 50 percent sold.

The Eagle responded: "According to StreetEasy, Oro Condominiums with 303 units has no recorded sales, 90 units 'in contract' and 72 'previous listings,' which are listings taken off the market for whatever reason, including if they are in contract, for example."

When McBrooklyn checked StreetEasy on Tuesday, 95 units were in contract, with 72 "previous listings." (The "no recorded sales" thing throws us.) If all of these numbers indicate units sort of sold (almost sold? probably sold?), then the Oro has (definitely, sort of) crossed the 50 percent mark, with 167 tied up one way or the other. Unless not.

The Prudential Douglas Elliman web site shows 19 available apartments, and a gazillion "in contract."

Brownstoner, meanwhile, speculates on the probability of Son of Oro ever being built -- and what it may turn out to be if it is.

Photo by MK Metz

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