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	<title>Observer &#187; Brooklyn Finally Comes Around to Meier&#8217;s On Prospect Park </title>
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		<title>Observer &#187; Brooklyn Finally Comes Around to Meier&#8217;s On Prospect Park </title>
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		<title>Brooklyn Finally Comes Around to Meier&#8217;s On Prospect Park</title>

		<comments>http://observer.com/2011/01/brooklyn-finally-comes-around-to-meiers-on-prospect-park/#comments</comments>
		<pubDate>Wed, 05 Jan 2011 23:36:23 -0400</pubDate>
					<link>http://observer.com/2011/01/brooklyn-finally-comes-around-to-meiers-on-prospect-park/</link>
			<dc:creator>Matt Chaban</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/on_propsect_park.jpg?w=225&h=300" />Richard Meier <a href="/2000/richard-meier-builds-perry-street-palace-calvin-and-martha">caused a near riot</a> when his Perry Street lofts opened last decade in the far West Village. The two glassy towers were <a href="/2008/real-estate/hugh-jackman-contract-over-25-m-meier-s-perry-triplex-will-it-last">so popular</a> they spawned a third next-door and nearly transformed the neighborhood.</p>
<p>The developers at SDS Procida were hoping for a similar success in Brooklyn, where they built On Prospect Park, essentially one of the lofts turned on its side, a swooping wall of glass on Grand Army Plaza.</p>
<p><a href="/author/dana-rubinstein">Our old colleague</a> Dana Rubinstein checked out the condo's slow but steady progress in <em>The Journal</em> this week, revealing that the building, after a half-decade of marketing and considerable price-cuts, has <a href="http://online.wsj.com/article/SB10001424052748703820904576058201587893320.html?mod=WSJ_NY_MIDDLEThirdStories">finally sold out half of its units</a>, albeit with mixed results.</p>
<blockquote><p>The dissonance with brownstone Brooklyn has outraged some neighbors.</p>
<p>The design's supporters, however, argue that, like the arch and  library, it's a reflection of the times in which it was built. "What do  you people want in 2010, the Acropolis?" wrote a commenter named  CommentQueen in one of the many online debates on the subject.</p>
<p>Good or bad, the design was no match for the downturn. The price of  the first condo that sold, a fifth-floor unit that closed Dec. 23, 2008,  was an impressive $3.2 million. A unit in the same line on the 10th floor sold one year ago for $1.57 million. "When late '07 hit, all projections on almost anything went out the window," Mr. Procida said.</p>
</blockquote>
<p>Yet the most interesting discovery came in a follow-up blog post: Despite the building's apparent Manhattan appeal, half of the apartments that have sold were <a href="http://blogs.wsj.com/metropolis/2011/01/03/who-lives-in-richard-meiers-brooklyn-condo-brooklynites/">purchased by Brooklyn buyers</a>. So much for brownstone dissonance. It also just goes to show that <a href="/2010/brobos-paradise">the entitled, moneyed classes of BroBos</a> may not be what we thought them to be.</p>
<p><strong><a href="mailto:mchaban@observer.com">mchaban [at] observer.com</a> </strong>|<strong> <a href="http://twitter.com/MC_NYO">@mc_nyo</a></strong></p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/on_propsect_park.jpg?w=225&h=300" />Richard Meier <a href="/2000/richard-meier-builds-perry-street-palace-calvin-and-martha">caused a near riot</a> when his Perry Street lofts opened last decade in the far West Village. The two glassy towers were <a href="/2008/real-estate/hugh-jackman-contract-over-25-m-meier-s-perry-triplex-will-it-last">so popular</a> they spawned a third next-door and nearly transformed the neighborhood.</p>
<p>The developers at SDS Procida were hoping for a similar success in Brooklyn, where they built On Prospect Park, essentially one of the lofts turned on its side, a swooping wall of glass on Grand Army Plaza.</p>
<p><a href="/author/dana-rubinstein">Our old colleague</a> Dana Rubinstein checked out the condo's slow but steady progress in <em>The Journal</em> this week, revealing that the building, after a half-decade of marketing and considerable price-cuts, has <a href="http://online.wsj.com/article/SB10001424052748703820904576058201587893320.html?mod=WSJ_NY_MIDDLEThirdStories">finally sold out half of its units</a>, albeit with mixed results.</p>
<blockquote><p>The dissonance with brownstone Brooklyn has outraged some neighbors.</p>
<p>The design's supporters, however, argue that, like the arch and  library, it's a reflection of the times in which it was built. "What do  you people want in 2010, the Acropolis?" wrote a commenter named  CommentQueen in one of the many online debates on the subject.</p>
<p>Good or bad, the design was no match for the downturn. The price of  the first condo that sold, a fifth-floor unit that closed Dec. 23, 2008,  was an impressive $3.2 million. A unit in the same line on the 10th floor sold one year ago for $1.57 million. "When late '07 hit, all projections on almost anything went out the window," Mr. Procida said.</p>
</blockquote>
<p>Yet the most interesting discovery came in a follow-up blog post: Despite the building's apparent Manhattan appeal, half of the apartments that have sold were <a href="http://blogs.wsj.com/metropolis/2011/01/03/who-lives-in-richard-meiers-brooklyn-condo-brooklynites/">purchased by Brooklyn buyers</a>. So much for brownstone dissonance. It also just goes to show that <a href="/2010/brobos-paradise">the entitled, moneyed classes of BroBos</a> may not be what we thought them to be.</p>
<p><strong><a href="mailto:mchaban@observer.com">mchaban [at] observer.com</a> </strong>|<strong> <a href="http://twitter.com/MC_NYO">@mc_nyo</a></strong></p>
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