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$6.6M Apartment is Brooklyn's Most Expensive New Construction in 5 Years

By Gwynne Hogan | October 25, 2016 2:49pm
 The Oosten at 421 Kent Ave. features 216 units, including townhouses, as well as outdoor space.
The Oosten at 421 Kent Ave. features 216 units, including townhouses, as well as outdoor space.
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The Oosten

WILLIAMSBURG — L-train shutdown fears aren't enough to suppress all real estate prices in the area, apparently.

Brooklyn's most expensive newly-built apartment in recent history has just sold in Williamsburg for a whopping $6,608,443, according to property records and a real estate brokerage firm that tracks the sale price of new developments across the city.

The waterfront penthouse in the Oosten building at 429 Kent Ave. in Williamsburg is a six-bedroom, six-bathroom, 5,000-square-foot space, according to its StreetEasy listing.

The sale was finalized on Oct. 22. It was bought by a limited liability company called PH Unit Holding, property records show.

While the New York Post reported the penthouse had been in contract for sale in 2015 for $6.49 million, the finalized deal was $100,000 more than that.

That's despite an earlier dip in condo prices that some attributed to worries about a looming L train shut down scheduled to begin in 2019.

Since 2011, just two new construction sales in Brooklyn have come anywhere near the October purchase, according to quarterly reports from MNS Real Impact Real Estate.

In 2012, a penthouse at 1 Grand Army plaza sold for $5.1 million and a Brooklyn Heights apartment went for $4.9 million in 2014.

The Oosten, built by Chinese investors XIN Development, boasts a roof deck, swimming pool, a juice bar, yoga room, private gardens and an art gallery and has 216 apartments. A spokesperson for the building didn't respond to a request for comment.

Williamsburg real estate continued to dominate transactions this quarter, according to the MNS quarterly report released Monday.

Half of all new studios and one-bedrooms sold in Brooklyn were in Williamsburg this quarter and the highest price per square foot for a new apartment was also in the neighborhood — a penthouse at 280 Metropolitan Ave. sold for $3.25 million, or $1,917 per square foot.