Already 26 stories tall (7 more to go), Oro Condominium (306 Gold Street) is easily seen from Vinegar Hill at the 99 Gold Street building.

 Oro Condo area map (from orocondos.com)

Previously:
{99 Gold Withdrawing Offering Plan, Turning to Rentals, 25Apr2007, DumboNYC }
{Any 99 Gold Street Updates?, 2Mar2007, DumboNYC }
{99 Gold Street Update (10/9/06), 9Oct2006, DumboNYC }
{orocondos.com, 306 Gold Street}

 99 Gold Street, Brooklyn, 3/31/2007 (Click for larger version)

After throwing a big opening party with free alcohol and food and an appearance by former NY Knicks basketball player John Starks last June at 99 Gold in Vinegar Hill, the Developer’s Group have decided to withdraw the offering plan on the building. The building will turn into a rental building but no word yet on prices. 99 Gold is joining 133 Water Street in turning rental. I’ve confirmed rumors from contract holders. One contract holder had this to say:

“There were 44 contracts signed – and another 11 being held back by the developer for friends and family. Our rep at Developer’s Group is pretty shocked as with a building almost 50% sold this almost never happens. The reason I guess is that many of the less desirable units were not moving and they didn’t want to risk bearing the cost of 40 unsold units after the building closed. We were told they decided that renting them would be more profitable in the long term.”

I thought the condos were pretty nice, had huge windows, and quality finishings. I hope the contract holders were treated fairly and didn’t have their deposits tied up for too long. One Dumbo-based realtor told me that they have many more buyers than there are inventory for Dumbo and Vinegar Hill, so they were a bit surprised with the 88-unit building not selling well. A commenter on Brownstoner had this to say about 99 Gold on March 5: “I bet this building will go rental b/c Developers Group can’t sell anything. I guess time will tell.” That person was right.

 99 Gold Street, Brooklyn, 3/31/2007 (Click for larger version)

{Any 99 Gold Street Updates?, March 2, 2007, DumboNYC}
{Dumbo’s 133 Water Goes Rental, April 9, 2007 Brownstoner.com}

 99 Gold Street, 2/2007

We’ve received several emails from people wondering about 99 Gold Street, but we haven’t heard of any updates. Any buyers care to share? We were last there 5 months ago in October, but as Brownstoner.com said, in yesterday’s post, “99 Gold seems to have faded from the public consiousness.” There are 21 units on the market (Developer’s Group just updated the listings today) out of 88 units, and a commenter mentioned closing dates of May. We also want to know what’s up with 99 Gold.

 99 Gold Street, 2/2007

{99 Gold: Wassssuuuuppppp, brownstoner.com}
{99 Gold Street Update (10/9/06), DumboNYC.com}
{99goldstreet.com}

  * My photo stitching abilities are subpar, so you can look at the properties separately below.

These two adjacent properties in Vinegar Hill are being sold as a package for $2.5million. They are at 100 and 102 Gold Street, right across from 99 Gold Street Condominiums. The listing from Fillmore.com states:

“Houses to be knocked down for development. Sold as package- 100 and 102 Gold Street. (2) 25′x100′ lots. R6A Zoning. Starting price is $3.2 mil. Owner will entertain all reasonable offers.”

The exterior doesn’t seem to be in great shape, and it’s close to the Farragut Housing Complex. It’s zoned for R6A Zoning, which means they typically produce six-story apartment buildings designed to be compatible with existing buildings found in older neighborhoods. Anyone have more info on this listing? Do you think the potential value is worth $2.5million?

  100 Gold Street, Vinegar Hill

  102 Gold Street, Vinegar Hill

{fillmore.com, webID: 606064}

We’ve seen a lot of buzz on the development at 99 Gold Street in Vinegar Hill, Brooklyn. Designed by Scarano Architects in Dumbo and marketed by The Developers Group, this building was converted into 88 studio, one, and two bedroom lofts, and has a small non-regulation basketball court in the basement.

Okay, this isn’t really an update, but I was over there yesterday to check out the progress, and it looks like from the outside, most of the work has been completed. I went to the opening “launch party” this summer (has it already been 4 months ago?) and saw the apartments, the rooftop, and the basketball court. The finishes were nice, and the building seemed solid, but until more stores/services come to the area, residents will have to go to Brooklyn Heights for their pharmacy.

 99 Gold Street before conversion. Photo from The Developers Group

Aside from some reported price cuts by Robert Guskind at Curbed, we haven’t heard too much in the past month about 99 Gold. With the updated prices, the condos range between $522/sq.ft. for a studio with 2 bathrooms (1571 sq.ft.) to $969/sq.ft. for a penthouse two bedroom, 2 bathroom (not including the 1077 sq.ft. of outdoor space). Below are some photos taken this weekend.

From Scarano Architects:

“99 Gold is a renewal pioneer within the area’s industrial landscape. An upscale loft conversion is the latest trend in stylish city living, which redefines the 19th-century concrete and block building, originally designed to house and supply New York’s souvenir market. Following that industry’s decline and decades of misuse and neglect, vast quality-of-life improvements are assured by this adaptive reuse.”

 Click photo for close-up. 99 Gold in Vinegar Hill, October 8, 2006

 Click photo for close-up. 99 Gold in Vinegar Hill, October 8, 2006

Some sample pricing:

• 1 bed 1 bath, 757sq.ft. $575,000 ($759/sq.ft.), $328 maintenance, $48 tax
• 0 bed 1 bath, 988sq.ft. $645,000 ($653/sq.ft.), $412 maintenance, $61 tax
• 2 bed 1 bath, 1035sq.ft. $699,000 ($675/sq.ft.), $432 maintenance, $64 tax
• 2 bed 2 bath, 1215sq.ft. (1106sq.ft. outdoor space) $1,150,000 ($946/sq.ft.), $636 maintenance, $94 tax

Does anyone have info on move in date or how sales are going so far?

{99goldstreet.com}
{scaranoarchitects.com}

Navy Street (Sands St. to Hudson Ave)

The Brooklyn Greenway Initiative is a project to create a connection between numerous waterfront communities now divided by highways and transit infrastructure for waterfront access, bike trails along 14 miles of Brooklyn waterfront.

The planned pathway spans from Greenpoint to Navy Yards, Vinegar Hill, and Dumbo down to Red Hook. For joggers, bikers, and pedestrians, the route through Vinegar Hill and Dumbo would give a good view of the bridges and the waterfront:

Route in Vinegar Hill – Ideal route for Brooklyn Bridge Park and proximity to waterfront is Gold St. to John St. to the Jay St. park gateway. This could result in a segment of unique character through an historic neighborhood.

Looks like the project may finish by the time the Brooklyn Bridge Park is scheduled to finish around 2010.

{Brooklyn Greenway Initiative via The Brooklyn Record}