Hope Street’s 98 Front St. Passes 50% Sales Threshold
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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).