Hope Street Capital’s 98 Front St., DUMBO’s newest ground-up condominium, has opened its doors to its first residents with more than 50 closings occurring by the end of 2020, following the recent completion of the luxury building. It’s now more than 50% sold.
The developer says 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% financing.
“Today more than ever, achieving 50% sold and a Fannie Mae Approval is critical— especially as banks tighten their lending standards,” said Sha Dinour, partner of HSC.
The 10-story luxury condominium comprises 165, studio, one-, two-, three- and four-bedroom residences ranging in size from 400 to more than 2,000 square feet. Asking prices for the remaining units range from approximately $650,000 to $4 million.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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