atlantic terrace

Brooklyn Real Estate: Atlantic Terrace

There was little chatter about this development when I had visited it early 2011, and there still seems to be little discussion. Its forum on streeteasy is eerily silent. I stumbled upon it practically by accident. And I was suspicious. It seemed nice, but again how can NO ONE be talking about it? First, the lobby is modern,  minimalist and manned by a concierge / doorman who seemed to hate their job, but managed to get us to sign in. We met the sales agent in one of the penthouses, and it was impressive. A well laid out duplex, and windows on top of windows, on top of windows! With a porch! Almost love at first sight. But what about the rest of the complex? Not quite as overwhelming, but still a lot to talk about. For one, it’s Gold LEED certified. Not just “on track” for that certification (read Toren) but they’ve got the gold. One of the first in Brooklyn. Their finishes while not the fanciest, are sustainable and aren’t hard on your eyes. I especially liked the in-wall air units. Except for the duplex none of the windows were much to write home about, but we did see a few south facing units so you’ll probably get a lot of light. I liked the in-kitchen window, that’s always a nice touch. The hallways were actually very impressive, they *smelled* clean, as if fresh air was being pumped in, it probably was.

Now for the more interesting stuff. This development is a coop. Really? Yes, you read that right there’s a new GREEN building, that’s a coop, in Brooklyn. We were assured though that the board wasn’t unreasonable, the agent didn’t expect any problems. Uh-huh. The location, while not bad for convenience — about a brisk 10min walk to most subway stations, is practically sitting on the lap of the new Barclay’s center, upcoming home of the Nets, so expect to see a lot of traffic during game time in the near future. Finally, price. The market units weren’t offered at a great price.  8J a 1,067sqft unit was listed for $610k late 2010 and recently reduced by 2% to $599k, with common charges in excess of $1.1k (maybe some tax deductions?). The unit seems to be in line with what nearby developments are offering, maybe even on the more affordable side with the recent reductions. But, since the affordable units (which are the majority in this development 60/80)  are built in with the market rate units, you’re likely to see that your neighbor got your exact / very similar unit, just MUCH cheaper. Irksome.  All in, the market-rate units weren’t really that compelling. I’d rather go up the block to some of the new developments in DoBro, or even Prospect Heights and not have to deal with having Barclays Center / Nets Game traffic as my direct neighbor.

Disclaimer: These reviews were written before I was a real estate agent, and reflects my previous opinions solely as a buyer.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>