Hope Street Capital receives TCO for 165-unit condo in Dumbo with $274M sellout

Jeffrey Gershon’s Hope Street Capital, on August 31, was issued a temporary certificate of occupancy for construction of a 165-unit, 145,419-square-foot condominium at 98 Front Street in Dumbo.

The condominium plan, number CD180246, was submitted on June 14, 2018, and declared effective January 23, 2020 by 25 units or 15 percent. The building currently has a total sellout price of more than $274 million, according to the state Attorney General’s website.

The TCO comes one month after the developer had a condominium declaration recorded for the development.

The plans, pre-filed on November 13, 2017, call for the construction of a 120-foot tall, 10-story residential building. The time from pre-file to TCO was two years and 10 months.

The project is described in the filings as: new 10-story residential r-2 building.

The building plans show that the cellar of the development has numerous amenities such as a pool, spa, steam room, exercise room, children’s play rooms, recreations rooms, and lounges. The cellar also has four dwelling units and the lower halves of an additional four duplex units. The ground floor has a community center, eight dwelling units, and the upper halves of the four duplex units. The second floor has 16 dwelling units, floors three through seven each have 20 dwelling units, the eighth floor has 11 dwelling units, and floors nine and 10 have nine dwelling units. The roof provides a tenant deck as well as private terraces for the 10th floor units.

The architect was ODA.

The property was acquired for $60 million on November 7, 2017. The parcel was one of several Jehovah’s Witnesses properties in Brooklyn that the religious group had been selling at the time.

Direct link to Acris document.LINK

Direct link to DOB document.LINK