ODA New York's 98 Front Street is one of many new luxury DUMBO developments to rise in recent years offering an unsurprising menu of amenities to draw monied buyers (read: an indoor saltwater pool, spa, fitness center, coworking space, communal rooftop, etc.). Although 98 Front's shared comforts and conveniences may not be extraordinary, the quality of its architecture is far from boilerplate. With a shifting cubic facade and an elegant material palette, the concrete build manages to dodge the new-development-mundane aesthetic and make a statement of its own.
"There is a simplicity in 98 Front Street’s design in the materiality and process that accentuates the building’s jewel box facade," said ODA founder Eran Chen, in a statement. "To provide residents with the best living experience, we played with the geometry and layouts to create open floor plans that allow for flexible programming for living, working, and entertaining at home, while maximizing the available light, air and outdoor spaces of each residence."
Indeed, what ODA's design efforts have yielded are more than 100 unique floor plans with more than half of the 165 units afforded private outdoor spaces; the impact is felt on the interior and visualized on the exterior.
The unique program has certainly been a draw for buyers, accelerating sales for its developer Hopestreet Capital. The building opened in January with over 50 percent of its 165 units sold, while a 2020 closing set a new local sales record of $2,100 per square foot.
Real Estate Weekly also highlights that "98 Front is also the first new development in Brooklyn to obtain Fannie Mae approval. This enables any lender nationwide to offer the most attractive interest rates and up to 95 percent financing. No other new condominium in Brooklyn or Manhattan has had such strong sales velocity that has enabled the coveted approval."
To that point, Sha Dinour, partner of Hopestreet, adds, “98 Front has successfully met buyers' expectations by delivering finished condominiums on time, avoiding potential financing risks that are surfacing for purchasers at other new developments. 98 Front is the only new development in the area to have sold this number of units in such a short period of time, despite the pandemic.”
Asking prices range from approximately $650,000 to $4,000,000, and a handful of rentals are being offered between $2,996 and $3,500.
- DUMBO (Urbanize NYC)
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