Historical Context
1091 Rogers Avenue’s origins trace back to its days as a traditional Brooklyn property, reflecting the neighborhood’s historical charm. Before its redevelopment, the building’s structure and purpose were rooted in a bygone era of Flatbush, characterized by residential properties that catered to the needs of a growing urban population.
Flatbush has long been a melting pot of cultures, offering a unique blend of architectural styles ranging from Victorian-era homes to modern developments. This historical backdrop adds a layer of depth to the story of 1091 Rogers Avenue, making its rehabilitation not just a real estate project but also a nod to the enduring legacy of the neighborhood.
Project Overview
The redevelopment of 1091 Rogers Avenue into a boutique sponsor condominium represents a thoughtful approach to urban living. The project, undertaken by 1091 Rogers LLC, involved comprehensive rehabilitation to meet modern standards. Designed by Melamed Architect, the building seamlessly integrates contemporary aesthetics with practical design elements, ensuring a balance between form and function.
The building features four floors with a total of eight residential units. Sales for the property commenced in January 2023 and are managed by Compass, a leading real estate sales agency. The project's timeline reflects meticulous planning, with key milestones such as the offering submission in 2022, the acceptance of the offering plan in December 2022, and the issuance of the certificate of occupancy in mid-2023. These milestones underscore the commitment of the project’s stakeholders to delivering a high-quality living space.
Layout and Features
1091 Rogers Avenue is designed to cater to modern urban lifestyles, offering a range of amenities and features that enhance its appeal.
Structural Overview
The building has four floors and eight units, providing an exclusive living experience in a boutique setting. This low-density configuration ensures privacy and comfort for residents, making it an attractive option in the bustling Flatbush area.
Amenities
The property includes a range of amenities that cater to diverse needs:
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Elevator Access: Enhances convenience for residents.
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Outdoor Spaces: Units feature private backyards, terraces, and balconies, offering personal outdoor retreats.
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Modern Conveniences: Includes intercom systems, a virtual doorman, and bike storage facilities.
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Recreational Areas: A garden and a roof deck provide relaxing communal spaces.
These features reflect the developer’s focus on creating a well-rounded living environment that prioritizes comfort and functionality.
Sales and Market Trends
The sales trends for 1091 Rogers Avenue provide valuable insights into the property’s position in the Brooklyn real estate market.
Sales Velocity and Performance
Since sales began in January 2023, the building has achieved a sales velocity of 0.1 units per month, with two out of the eight units sold (25% of the total inventory). The absorption rate suggests that the sellout period for the remaining units could extend to approximately six years, based on current trends.
Price Range and Market Competitiveness
The asking prices for units range from $389,000 to $799,000, reflecting a balance between affordability and the premium amenities offered. Recent price changes for specific units, such as a 20.28% increase for Unit 2F and a 33.41% increase for Unit 4F, indicate growing market interest and the building’s potential for value appreciation.
Unit Breakdown
The building offers diverse unit types to accommodate various buyer preferences.
Studio Units
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One studio unit, which has already been sold, was listed at $359,000. This unit’s compact design and affordability made it an attractive choice for buyers seeking entry-level homeownership in Brooklyn.
One-Bedroom Units
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Six one-bedroom units are available, none of which have been sold yet. These units are priced competitively, with listings such as Unit 1R at $599,000 and Unit 4F at $449,000.
Two-Bedroom Units
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One two-bedroom unit, Unit 4R, remains available with an asking price of $669,000. This unit offers additional space, making it suitable for small families or those seeking extra room.
Role of Melamed Architect and Compass Sales Agent
The successful redevelopment and marketing of 1091 Rogers Avenue can be attributed to the contributions of Melamed Architect and Compass.
Architectural Design
Melamed Architect played a pivotal role in shaping the building’s modern aesthetic. The firm’s expertise is evident in the thoughtful layout, high-quality finishes, and integration of natural light throughout the property.
Sales Strategy
As the sales agent, Compass has been instrumental in promoting the property to prospective buyers. Their data-driven approach and market insights have helped position 1091 Rogers Avenue as a desirable option in the competitive Brooklyn real estate market.
The Appeal of Flatbush Brooklyn
Flatbush is a neighborhood that offers a unique blend of historical charm and contemporary living, making it an ideal location for properties like 1091 Rogers Avenue.
Connectivity and Convenience
The building is located near the 2 and 5 subway lines, providing easy access to Manhattan and other parts of Brooklyn. This connectivity enhances its appeal to professionals and families alike.
Cultural and Community Attractions
Flatbush is home to a vibrant community rich in cultural diversity and local attractions. From the historic Kings Theatre to Prospect Park, residents of 1091 Rogers Avenue have access to a wide range of amenities and activities.
Modern Amenities and Living Experience
The living experience at 1091 Rogers Avenue is defined by its modern amenities and thoughtfully designed spaces.
Interior Features
Each unit has high-quality finishes, including custom cabinetry, state-of-the-art appliances, and central heating and cooling systems. These features provide a comfortable and convenient living environment.
Outdoor Spaces
Private backyards, terraces, and balconies offer residents their retreats, enhancing the overall living experience. These spaces are particularly valuable in urban areas, where outdoor areas are often limited.
Communal Areas
The garden and roof deck provide opportunities for social interaction and relaxation, fostering a sense of community among residents.
Market Analysis and Future Prospects
The Brooklyn real estate market continues to evolve, with properties like 1091 Rogers Avenue poised to benefit from ongoing development and demand.
Current Trends
The property’s asking prices and sales performance align with broader market trends in Flatbush, where demand for modern, well-located condominiums remains strong. The gradual sellout rate suggests the building’s appeal will endure as the neighborhood attracts new residents.
Long-Term Potential
As Flatbush undergoes further development and infrastructure improvements, the value of properties like 1091 Rogers Avenue is expected to be appreciated. The building’s modern design, prime location, and comprehensive amenities make it a sound investment for buyers and investors.
Conclusion
1091 Rogers Avenue represents a significant addition to the Flatbush real estate market. Its thoughtful redevelopment, modern amenities, and prime location make it an attractive option for those seeking quality living spaces in Brooklyn. As the building continues to attract interest, it stands as a testament to the potential of urban redevelopment in preserving the historical charm of neighborhoods while meeting the demands of modern living.
FAQs
What types of units are available at 1091 Rogers Avenue?
1091 Rogers Avenue features a mix of units, including studio, one-bedroom, and two-bedroom condos. This variety allows potential buyers to choose a unit that suits their lifestyle and budget.
What amenities does 1091 Rogers Avenue provide?
The building offers modern amenities such as an elevator, a garden, a roof deck, bike storage, and private outdoor spaces like terraces and backyards. These features aim to enhance convenience and provide a comfortable living experience.
How is the neighborhood around 1091 Rogers Avenue?
Flatbush, Brooklyn, is a vibrant and culturally rich neighborhood. It is well-connected to public transportation, has diverse dining options, and offers attractions such as the Kings Theatre and Prospect Park.
Who is the architect behind 1091 Rogers Avenue's design?
The design of 1091 Rogers Avenue is the work of Melamed Architect. The firm is known for creating practical and aesthetically pleasing designs that meet modern urban living requirements.
What is the current sales status of units at 1091 Rogers Avenue?
Currently, 25% of the units have been sold, with two out of eight closed. Compass manages the sales, and the remaining units are available for purchase.
