2014

Oro Condominium in Downtown Brooklyn Hits 50% Sold Mark

New marketing strategy proves successful in effort to improve sales pace

BROOKLYN, N.Y., March 29 /PRNewswire/ -- Downtown Brooklyn's Oro condominium, the 303-unit luxury building at 306 Gold Street, has reached the 50-percent-sold milestone with more than 152 units sold.  Sales have soared at the 40-story property with 61 deals made since September 2009. 

Much of the recent sales success can be attributed to Oro's new marketing strategy developed by Rose Associates when they were designated as the sales and marketing agent for the building last fall.  Prices have been reduced to adapt to market conditions, and units were individually re-priced with adjustments from 6 to 25 percent.  In addition, a new advertising campaign was launched late last year, the model apartments were redesigned, and the Web site was re-tooled.  As a result, sales surged to an average of 10 deals per month.  

"Oro's sponsor was in a great position to react to market conditions," said Robert Scaglion, Senior Managing Director of Residential Marketing for Rose Associates. "Construction was complete, and many of the purchasers from the pre-construction phase had already moved in so there was lender confidence.  The market is entirely different today than it was when they began selling these apartments.  The sales pace indicates that the building is priced for today's market."

Oro is one of the first residential buildings to be completed in Downtown Brooklyn and is among the first to offer Manhattan-style, high-rise doorman living.  The building, which was one of the first new residential developments to complete construction, has pioneered the transformation of the area into a vibrant, residential neighborhood.

Oro includes a mix of studio, one-, two- and three-bedroom units ranging from 450 square feet to more than 1,500 square feet.  Large windows and high ceilings in each unit maximize the dramatic, panoramic city views of Manhattan, Brooklyn, Queens, Staten Island and New Jersey.

Building amenities include a two-level, state-of-the-art fitness center with a basketball/racquetball court, a resident lounge with screening room and wet bar, an indoor swimming pool and a parking garage.  

Each home features exquisite details such as: exotic Brazilian hard wood floors throughout; sleek kitchens featuring European-style cabinets with matte lacquer finish, Quarella Lagos Blue Engineered Stone countertops complemented by ice-glass backsplashes, GE stainless steel appliances, Kohler fixtures; and luxurious baths with Durango stone walls, soaking tubs, glass-enclosed showers, cherry wood and sycamore vanities, Ozer white countertops, Zucchetti/Isyfresh faucets, and Porcher/Cubo fixtures.

Situated in a prime location, Oro allows easy access to the Brooklyn and Manhattan bridges and multiple train lines.  This is especially attractive to buyers looking for close proximity to Manhattan without paying Manhattan prices.  Its location right across the East River from the Financial District makes for a quick commute.  Additionally, Downtown Brooklyn offers many amenities with dining, shopping and cultural options that rival those found in Manhattan.

SOURCE Oro Condominium




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