What's Happening?
A penthouse at One Domino Square in Williamsburg, Brooklyn, has entered into a contract for $7 million, potentially setting a new sales record for the area. The 2,000-square-foot penthouse, known as Penthouse
3A, features a 1,000-square-foot wraparound rooftop terrace with views of the river and city. This follows a previous record set by another penthouse in the same building, which sold for $7.7 million last year. The building, developed by Two Trees Management and designed by Annabelle Selldorf, includes a 39-story tower with 160 condos and a 55-story rental tower with 400 units. The development is noted for its extensive amenities, including an aquatics center, resident lounges, and proximity to Domino Park.
Why It's Important?
The potential record-setting sale of Penthouse 3A underscores the continued demand for luxury real estate in North Brooklyn, particularly in the Williamsburg area. This demand is driven by the unique offerings of One Domino Square, such as its architectural design, high-end amenities, and location. The sale reflects broader trends in the luxury real estate market, where unique properties with desirable features continue to attract high prices despite broader economic fluctuations. This development could influence future real estate projects in the area, encouraging similar high-end constructions.
What's Next?
With the continued interest in One Domino Square, the remaining units are expected to sell out by the end of the year. The success of this development may prompt further luxury real estate projects in Williamsburg and similar neighborhoods. Real estate developers and investors will likely monitor the market closely to identify opportunities for new projects that can capitalize on the demand for high-end urban living spaces.
