Pierhouse Condominium

90 & 130 Furman Street, Brooklyn, NY 11201

Overview

A 108-residence leasehold condo in two buildings inside Brooklyn Bridge Park, sponsored by a Toll Brothers affiliate. Owners pay PILOT and ground rent through common charges, and the buildings share systems with a neighboring hotel. The offering plan specifies Gaggenau appliances, a washer and dryer in each apartment and ducted heat pumps for heating and cooling.

Address: 90 and 130 Furman Street, Brooklyn Bridge Park, Brooklyn
Plan: CD130156, accepted for filing in February 2014
Residences: 108 for sale, 86 at 90 Furman Street and 22 at 130 Furman Street. Of those, 17 are one-bedrooms, 26 two-bedrooms, 42 three-bedrooms, 18 four-bedrooms and 5 five-bedrooms, from about 999 to 4,885 square feet. Apartment N-413 houses the resident manager.
Other units: two retail units, an event space of about 17,250 square feet, a Brooklyn Bridge Park space and a garage unit, none offered for sale
Parking: the garage unit is for public parking, with no guarantee or priority for owners
First offering: 108 residences at about $396.5 million in total, from $995,000 for a one-bedroom to $9.95 million for a five-bedroom at 130 Furman Street. These are sponsor offering prices, not sales. The Attorney General's record now lists about $489.3 million for the offering.

SubmittedMarch 2014
AcceptedFebruary 2014
31 amendments
First sale
Latest sale

Sales

106 of 109homes sold (97%)

Every sale: 106 homes, with price and dateSee it free →

From city records (ACRIS), through Sep 30, 2026.

First-Year Budget

From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)

Ask Claude or ChatGPT: How do Pierhouse's common charges compare with similar buildings? →

Property Taxes

The plan's first-year tax estimate, checked against the city's real bills.

Each home's estimate, city bills and tax breaksSee it free →

Closing Costs

The buyer pays the NYC and NY State transfer taxes, which a seller usually pays.

All 2 closing costs in the plan, with their pagesSee it free →

The Building

Finishes

Rogers Marvel's report lists every fixture by model, with "or equal" substitutions allowed (compare with our NYC condo finishes guide).

Kitchen

Gaggenau appliances: a Vario bottom-freezer refrigerator, a dishwasher, a built-in oven, a microwave, a gas cooktop and a recirculating visor hood. Three smaller homes (N-534, N-824 and N-1018) get narrower Gaggenau models.
A Summit wine cooler, a NatureMill compost bin, slide-out trash bins and an In-Sink-Erator disposal.
Stone counters with an undermount Blanco sink in the island, and a Grohe faucet. A stained wood panel with built-in lights hangs over each island.

Baths

Duravit toilets throughout, with Duravit Vero sinks in stone counters in the primary and secondary baths.
Waterworks faucets, shower heads and hand showers. Some primary baths have a freestanding Waterworks tub.
Powder rooms have a Waterworks pedestal sink on steel legs and a recycled stone slab wall.
Primary baths have stone tile floors and a stone accent wall. Secondary baths have mosaic tile floors.

See how these names compare in our bathroom brands guide.

Floors, Ceilings and Windows

Wood floors on an engineered backing over an acoustical mat. The plan targets STC 57 and IIC 57 sound ratings between floors.
Ceilings with a concrete skim coat, about 9 to 10 feet 8 inches in most rooms. Double-height duplex living rooms are about 18 feet 7 inches at 90 Furman Street and about 20 feet 6 inches to 21 feet 10 inches at 130 Furman Street.
Pioneer casement windows with double-pane, low-E glass by PPG. They swing in so you can clean them from inside.
The facades are stone veneer and metal panels. 130 Furman Street's lower floors are isolated from subway vibration.

Laundry, Heating and Cooling

A Bosch Axxis ventless washer-dryer combo in every home. There's no shared laundry room.
Johnson water-source heat pumps in each home heat and cool. Gas boilers on the roof of 90 Furman Street supply the heating loop and hot water.
Electricity is metered by unit. Gas for heat, hot water and cooking is paid through common charges.

Amenities, Staffing & Transportation

The amenities are indoor rooms split between the two buildings, and both buildings' residents can use all of them (compare with amenities by building size).

90 Furman Street

A fitness room on the first floor, set on an acoustically isolated slab.
A screening room with reclaimed wood floors and felt walls, plus a kitchenette with a Gaggenau under-counter refrigerator and microwave.
A children's playroom on the second floor with an adjoining terrace, and a residents' meeting room.
A bike room in the cellar.

130 Furman Street

A second fitness room on the first floor.
A pet wash station.
A young adults' study and meditation room with a kitchenette and a half bath.

Good to know: there's no pool and no shared roof deck. The plan says there are no common outdoor roof terraces, and every terrace belongs to the apartment it adjoins. Most homes have one.

Staffing and Services

Each building has a doorman in its lobby 24 hours a day. The year-one budget assumes a Local 32BJ union staff:

A full-time resident manager and a full-time handyman.
Eight full-time doormen or concierges, plus one doorman working 16 hours a week.
Three full-time porters.

Payroll and benefits come to about $794,000. The garage, retail and event space units cover about 11% of staff time. See where common charges go.

Location & Transportation

Neighborhood: Brooklyn Heights, Brooklyn
Subway: 9 min walk to High St A C; Clark St 2 3, 11 min
Parking: 1 parking unit in the plan

Amenities, Staffing & TransportationSee it free →

Amendments

Amendment 31 Jan 22, 2019

Purchase prices for two residential units have been adjusted, changing the total offering price to $489,301,000.00.

Unit S-108 price changed to $5,395,000.00
Unit S-408 price changed to $4,995,000.00
Total offering price now $489,301,000.00
Schedule A prices decreased for 2 homes (median -13.1%): S-108 $6,250,000 → $5,395,000; S-408 $5,750,000 → $4,995,000

Amendment 30 2018

Financial update showing 11 unsold residential units with pricing and common charges, board composition after sponsor turnover, and fiscal year 2017 financials.

11 residential units remain unsold with total offering price of $56,100,000
Aggregate monthly common charges for unsold units: $41,716.70
Aggregate monthly estimated PILOT charges for unsold units: $44,848.41
Sponsor turned over board control on September 27, 2017
Board of Managers now consists of 7 members, 4 owner-occupants and 3 sponsor-affiliated
Financial Statement for fiscal year ending June 30, 2017 included as Exhibit B
Operating budget for fiscal year commencing July 1, 2018 adopted as Exhibit C
Schedule A prices decreased for 1 home (median -2.0%): S-406 $5,050,000 → $4,950,000

Amendment 29 Aug 2, 2018

Purchase price of one residential unit changed.

Unit S-406 purchase price set to $4,950,000.00
Total offering purchase price now $490,911,000.00

Amendment 28 Jun 21, 2018

Purchase prices for three residential units were changed, updating the total offering price to $491,011,000.00.

Unit N-411 price set to $4,750,000.00
Unit N-415 price set to $3,300,000.00
Unit N-1007 price set to $5,750,000.00
Total offering price now $491,011,000.00
Schedule A prices decreased for 2 homes (median -9.6%): N-411 $5,800,000 → $4,750,000; N-415 $3,650,000 → $3,300,000

Amendment 27 Apr 24, 2018

Corcoran Group replaces the previous selling agent, and 16 residential units remain unsold with updated financial information.

Selling agent changed to Corcoran Group at 1 Pierrepont Plaza, 15th Floor, Brooklyn, NY 11201
16 residential units remain unsold
Aggregate monthly common charges for unsold units: $61,433.19
Aggregate monthly estimated PILOT charges for unsold units: approximately $66,485.27
No residential units currently rented
Board of Managers turned over to owners on September 27, 2017; currently 7 members, 3 affiliated with Sponsor
Schedule A prices decreased for 6 homes (median -7.1%): N-210 $5,500,000 → $4,950,000; N-212 $5,250,000 → $4,950,000; N-411 $6,240,000 → $5,800,000; N-415 $4,490,000 → $3,650,000; ...

Amendment 26 Apr 20, 2018

Purchase prices increased for five residential units, raising the total offering price to $493,611,000.00.

Unit N-208 price changed to $4,495,000.00
Unit N-800 price changed to $5,950,000.00
Unit N-1007 price changed to $6,950,000.00
Unit S-101 price changed to $4,750,000.00
Unit S-106 price changed to $4,295,000.00
Total offering price now $493,611,000.00
Schedule A prices decreased for 5 homes (median -10.3%): N-208 $4,995,000 → $4,495,000; N-800 $7,900,000 → $5,950,000; N-1007 $9,490,000 → $6,950,000; S-101 $5,295,000 → $4,750,000; ...

Amendment 25 2018

Purchase prices for five residential units were increased, raising the total offering price to $496,111,000.00.

Unit S-409 price changed to $7,495,000.00
Unit S-408 price changed to $5,750,000.00
Unit S-113 price changed to $6,250,000.00
Unit S-108 price changed to $6,250,000.00
Unit S-106 price changed to $4,650,000.00
Total offering price now $496,111,000.00
Schedule A prices decreased for 5 homes (median -16.6%): S-106 $5,445,000 → $4,650,000; S-108 $7,240,000 → $6,250,000; S-113 $7,490,000 → $6,250,000; S-408 $6,995,000 → $5,750,000; ...

Amendment 24 2018

24th amendment updates sponsor principals, discloses 15 unsold units with pricing and common charges, adds Tax Cuts and Jobs Act disclosure, and establishes building-wide smoking prohibition.

Richard Hartman and Peter J. Monte are no longer Principals of Sponsor
15 Residential Units remain unsold with total offering price of $99,400,000
Aggregate Monthly Common Charges for unsold units: $58,795.75
Aggregate Monthly Estimated PILOT charges for unsold units: approximately $63,217.03
Sponsor turned over Board control at First Unit Owners' Meeting on September 27, 2017
Tax Cuts and Jobs Act disclosure added: tax information in plan may be inaccurate due to 2018 law changes
Smoking prohibition: no smoking of any kind permitted in any Building area including units and private balconies
No unsold units subject to mortgages; Sponsor current on all financial obligations
Schedule A prices increased for 13 homes (median +7.3%): N-208 $4,750,000 → $4,995,000; N-212 $4,950,000 → $5,250,000; N-411 $5,800,000 → $6,240,000; N-415 $3,650,000 → $4,490,000; ...

Amendment 23 Mar 12, 2018

Prices of 14 residential units raised; total offering price now $499,516,000.00.

Unit N-1007: $7,500,000.00
Unit S-409: $8,500,000.00
Unit N-800: $6,990,000.00
Unit S-108: $6,750,000.00
Unit S-408: $6,750,000.00
Unit S-113: $6,650,000.00
Unit N-411: $5,800,000.00
Total offering price: $499,516,000.00
Schedule A prices decreased for 13 homes (median -6.8%): N-208 $4,995,000 → $4,750,000; N-212 $5,250,000 → $4,950,000; N-411 $6,240,000 → $5,800,000; N-415 $4,490,000 → $3,650,000; ...

Amendment 22 2017

Financial update showing 21 unsold residential units with their prices, common charges, and PILOT payments.

21 residential units remain unsold
Aggregate monthly common charges for unsold units: $66,530.58
Aggregate monthly estimated PILOT payments: $82,442.89
No residential units currently rented
Sponsor turned over board control at first owners' meeting on September 27, 2017
Board consists of 7 members; 4 are owner-occupants, 3 affiliated with sponsor
No unsold units subject to mortgages
Schedule A prices increased for 9 homes (median +8.0%): N-210 $4,950,000 → $5,500,000; N-411 $5,950,000 → $6,240,000; N-415 $3,750,000 → $4,490,000; N-1007 $7,950,000 → $9,490,000; ...
Schedule A prices decreased for 1 home (median -12.4%): N-824 $1,700,000 → $1,490,000

Amendment 21 Oct 10, 2017

Purchase prices for 9 residential units were changed, raising the total offering price to $504,331,000.00.

Unit N-210 price changed to $4,950,000.00
Unit N-411 price changed to $5,950,000.00
Unit N-415 price changed to $3,750,000.00
Unit N-1007 price changed to $7,950,000.00
Unit N-1012 price changed to $4,995,000.00
Unit S-101 price changed to $5,150,000.00
Unit S-111 price changed to $3,450,000.00
Total offering price now $504,331,000.00
Schedule A prices decreased for 9 homes (median -7.4%): N-210 $5,500,000 → $4,950,000; N-411 $6,240,000 → $5,950,000; N-415 $4,490,000 → $3,750,000; N-1007 $9,490,000 → $7,950,000; ...

Amendment 20 Jul 19, 2017

Price of one residential unit changed, raising the total offering price to $509,216,000.00.

Unit S-105 price changed to $3,995,000.00
Total offering purchase price now $509,216,000.00

Amendment 19 Jul 17, 2017

Purchase prices updated for 18 residential units, and total offering price restated to $508,966,000.00.

Purchase prices for 18 units changed (N-208, N-212, N-411, N-415, N-824, N-1007, N-1012, S-100, S-101, S-105, S-106, S-108, S-111, S-113, S-405, S-406, S-408, S-409)
Total purchase price of offering now $508,966,000.00
Schedule A on page 93 revised with new offering prices
Schedule A prices decreased for 17 homes (median -10.3%): N-208 $5,900,000 → $4,995,000; N-212 $5,800,000 → $5,250,000; N-411 $6,800,000 → $6,240,000; N-415 $4,900,000 → $4,490,000; ...

Amendment 18 May 3, 2017

Amendment discloses 37 unsold units with pricing and financial details, beginning common charge collection June 9, 2017, and adopting operating budget for fiscal year 2017-18.

37 residential units remain unsold as of amendment date
Board of Managers to begin collecting monthly common charges from all unit owners as of June 9, 2017
Aggregate monthly common charges for unsold units: $99,756.33
Aggregate monthly estimated PILOT payment for unsold units: approximately $102,831.30
No residential units currently rented
Operating budget adopted for fiscal year commencing July 1, 2017
Board of Managers controlled by Sponsor with designated members Thomas Dillon, Tyler Kalian, and Carla Curcio

Amendment 17 Feb 8, 2017

Architect's report amended for bathroom count corrections in three units, non-residential units conveyed to affiliate, and fifty-six residential units remain unsold.

Unit S-401 bathroom count corrected to 4-1/2 baths (was stated as 2 full and 2 half)
Unit S-402 bathroom count corrected to 2 full and 2 half-baths (was stated as 4-1/2)
Unit S-409 bathroom count corrected to 3 full and 2 half-baths (was stated as 2 full and 2 half)
Non-Residential Units (Event Space, Retail Unit 1, Retail Unit 2) conveyed to Brooklyn Pier 1 Hotel Owner, L.P. effective December 22, 2016
Fifty-six residential units remain unsold with aggregate monthly common charges of $139,717.87
Aggregate monthly estimated PILOT payment for unsold units approximately $144,140.01
Floor plans revised for units S-401 and S-402 with corrected square footage text

Amendment 16 Dec 5, 2016

First unit closing occurred September 7, 2016; 100 units remain unsold; architect estimates $8,000,000 needed for permanent certificate of occupancy; unit designations and floor plans revised; declaration address updated.

First unit closing (Unit N-530) occurred September 7, 2016
Temporary certificate of occupancy issued August 11, 2016; most recent TCO issued November 1, 2016
Sponsor must obtain permanent certificate of occupancy within two years of first closing
Escrow account balance as of September 30, 2016: $32,330,004.19
Architect estimates $8,000,000 needed to obtain permanent certificate of occupancy
100 residential units remain unsold
Unit S-400 combined with S-401 and redesignated as Unit S-401
Floor plans revised for 22 units to reflect custom work and as-built conditions

Amendment 15 Jul 26, 2016

Amendment reclassifies portions of six units as enclosed Limited Common Elements beyond the property line, updates floor plans and square footage measurements, and clarifies maintenance responsibilities.

Units N-530, N-532, N-822, N-824, N-1016, N-1018: portions of dining rooms, offices, dens and/or bedrooms reclassified as enclosed Residential Limited Common Elements
Revised Schedule A with updated square footage for affected units and their Limited Common Elements
Unit owners of affected units responsible for nonstructural maintenance and repairs to their Limited Common Element portions
Revised floor plans for affected units annexed as Exhibit A
Unit measurement definition amended to reference seismic joint centerline for affected units
Save the View Litigation: Second Action dismissed in its entirety
Architect's Report amended with changes dated July 26, 2016

Amendment 14 Jan 7, 2016

Amendment updates litigation status, architect's report, and first closing date to June 1, 2016.

First closing now projected for June 1, 2016 (previously October 1, 2015)
Architect's Report amended with revised floor plans for certain units
Save the View litigation: two lawsuits filed; court denied injunctions; Sponsor expects dismissal
First Year of Condominium operation estimated June 1, 2016 through May 31, 2017
Rescission rights clarified for purchasers if closing delayed 12+ months beyond projected date

Amendment 13 Aug 5, 2015

The amendment updates architect's report with as-built ceiling heights, revised floor plans for certain units, addresses pending litigation, changes ILSA filing requirements, adds artwork disposal rules, provides IRS tax deduction ruling, and extends the plan's effective period.

Architect's Report amended with as-built finished ceiling heights for units at 90 and 130 Furman Street
Revised floor plans for certain Residential Units (list on page 30 of Amendment to Report)
Save the View litigation: court ruled in favor of Defendants June 10, 2015; bulkheads and roof structures comply with height requirements
ILSA filing exemption applies to Purchase Agreements signed on or after March 25, 2015
By-Laws amended to require Board to offer Sponsor first right to accept or reject artwork before removal or transfer
IRS private letter ruling confirms Unit Owners can deduct PILOT portion of Common Charges as real estate taxes
Effective period of Offering Plan extended for six (6) months from acceptance of Thirteenth Amendment

Amendment 12 2015

Plan declared effective with 60 units purchased; sponsor address updated; escrow moved to Capital One; two unit pairs combined reducing total units from 108 to 106.

Plan declared effective with 60 units purchased (57% of units)
Sponsor name corrected to Brooklyn Pier 1 Residential Owner, L.P. at 75 Broad Street, Suite 2100, New York, NY 10004
Escrow accounts transferred from HSBC Bank NA to Capital One Bank NA
Units 8400 and 8401 combined into Unit 8400; Units N1000 and N1002 combined into Unit N1000
Total units reduced from 108 to 106
First unit closing deadline extended to October 1, 2016
Sponsor waives right to seek specific performance against defaulting purchasers
Title review fee of $750 deleted; purchasers no longer charged at closing

Amendment 11 Sep 11, 2014

Purchase prices for 77 residential units are updated, with total offering price now $521,816,000.00.

Purchase prices for 77 residential units revised on Schedule A
Total offering price updated to $521,816,000.00
Schedule A prices increased for 97 homes (median +2.7%): N-101 $2,600,000 → $2,900,000; N-103 $2,800,000 → $3,100,000; N-105 $2,700,000 → $3,000,000; N-107 $3,300,000 → $3,400,000; ...

Amendment 10 Aug 14, 2014

Price of one residential unit increased, raising the total offering price.

Unit N-807 purchase price changed to $3,587,800
Total offering price now $505,837,800.00

Amendment 9 Jul 28, 2014

Purchase price for one residential unit (N-520) increased to $4,220,000, raising total offering price to $505,575,000.00.

Unit N-520 purchase price set to $4,220,000
Total offering price now $505,575,000.00

Amendment 8 Jun 30, 2014

Purchase prices increased for four residential units; total offering price adjusted to $505,355,000.00.

Unit N-107 price changed to $3,300,000
Unit N-504 price changed to $3,950,000
Unit S-101 price changed to $6,000,000
Unit S-105 price changed to $4,250,000
Total Purchase Price of Offering now $505,355,000.00
Schedule A prices increased for 4 homes (median +6.5%): N-107 $3,100,000 → $3,300,000; N-504 $3,825,000 → $3,950,000; S-101 $5,600,000 → $6,000,000; S-105 $4,050,000 → $4,250,000

Amendment 7 Mar 2, 2014

Purchase prices for three residential units increased; total offering price now $504,430,000.00.

Unit N-506 price changed to $2,500,000
Unit N-512 price changed to $4,150,000
Unit N-800 price changed to $7,800,000
Total Purchase Price of Offering now $504,430,000.00
Schedule A prices increased for 2 homes (median +5.1%): N-512 $3,950,000 → $4,150,000; N-800 $7,600,000 → $7,800,000

Amendment 6 Apr 24, 2014

Purchase prices updated for 68 residential units across multiple floors.

Purchase prices changed for 68 units listed in Schedule A
Total offering purchase price now $503,830,000.00
Schedule A prices increased for 94 homes (median +9.1%): N-200 $3,250,000 → $3,950,000; N-202 $2,900,000 → $3,350,000; N-204 $3,500,000 → $3,850,000; N-206 $2,600,000 → $2,900,000; ...

Amendment 5 Apr 7, 2014

Purchase prices for 5 residential units were changed, resulting in a new total offering price of $469,345,000.00.

Unit N-208 price changed to $5,400,000.00
Unit N-532 price changed to $5,050,000.00
Unit N-1016 price changed to $4,350,000.00
Unit S-102 price changed to $3,250,000.00
Unit S-106 price changed to $5,450,000.00
Total offering price now $469,345,000.00
Schedule A prices increased for 5 homes (median +4.8%): N-208 $5,150,000 → $5,400,000; N-532 $4,900,000 → $5,050,000; N-1016 $4,150,000 → $4,350,000; S-102 $3,150,000 → $3,250,000; ...

Amendment 4 Mar 25, 2014

Purchase price of one residential unit increased, raising the total offering price.

Unit N-200 purchase price raised to $3,700,000
Total Purchase Price of Offering now $468,395,000.00

Amendment 3 Mar 20, 2014

Purchase prices updated for 87 residential units across the building.

Purchase prices changed for 87 named units on Schedule A
Total offering price restated to $467,945,000.00
Schedule A prices increased for 108 homes (median +5.1%): N-101 $2,550,000 → $2,600,000; N-103 $2,750,000 → $2,800,000; N-105 $2,650,000 → $2,700,000; N-107 $2,920,000 → $3,100,000; ...

Amendment 2 Mar 12, 2014

Purchase prices for 109 residential units are revised, with total offering price now $446,085,000.00.

Purchase prices updated for 109 residential units (N-series and S-series)
Total offering price revised to $446,085,000.00
Schedule A prices increased for 108 homes (median +6.1%): N-101 $2,500,000 → $2,550,000; N-103 $2,700,000 → $2,750,000; N-105 $2,550,000 → $2,650,000; N-107 $2,860,000 → $2,920,000; ...

Amendment 1 Mar 3, 2014

Purchase prices for 96 residential units updated; total offering price now $419,630,000.00.

96 residential units have new purchase prices listed in Schedule A
Total Purchase Price of the Offering is now $419,630,000.00
Schedule A prices increased for 108 homes (median +5.3%): N-101 $2,400,000 → $2,500,000; N-103 $2,650,000 → $2,700,000; N-105 $2,500,000 → $2,550,000; N-107 $2,800,000 → $2,860,000; ...

What each amendment changed, line by lineSee it free →

Fine Print

What's Specific to It

A leasehold condo in a park: the land belongs to the Brooklyn Bridge Park Development Corporation. The plan's 97-year lease started July 1, 2012, and the condo board becomes the tenant after the first closing.
PILOT instead of property taxes: owners pay PILOT to the park through the condo, not to the city. The money helps fund the park.
Ground rent starts later: the sponsor pays base rent for the lease's first five years. From July 2017 the condo pays $655,760 a year, rising 7.5% every five years from the 10th lease year.
A hotel next door: a separate hotel tenant leases part of the same parcel. The condo's heating boilers and water heaters also serve the hotel and sit on the hotel's gas meter, and the condo pays the hotel its share.
Mostly duplexes: nearly every home is a two-level apartment, and one is a triplex on the 9th through 11th floors. Some 130 Furman Street duplexes have living rooms over 20 feet tall.
Public restrooms in the building: 130 Furman Street holds public restrooms and park maintenance and storage space for Brooklyn Bridge Park.

Pierhouse sits on Furman Street inside Brooklyn Bridge Park, which the plan describes as stretching about 1.3 miles along the East River from Atlantic Avenue to Jay Street. The 10-story north building is at 90 Furman Street, and the 5-story south building is at 130 Furman Street. Its offering plan spells out what you own, what you'll pay the park and who you'll share the site with. For how this kind of ownership works, see our guide to ground lease condos.

Fine Print Worth Knowing

Ground rent and a security fund: once the condo starts paying base rent, it must also keep a security fund with the landlord equal to a year's base rent. Owners can be assessed to top it up. If the board fails to pass owners' rent payments on to the landlord, the lease could be terminated.
Your lender comes second: any mortgage must be subordinate to the lease, and your lender must sign a subordination agreement. Unpaid PILOT and rent are paid ahead of your first mortgage.
Tied to the hotel: until both projects are complete or the first unit closes, a hotel lease default could also be a default under the condo's lease. The hotel and the condo also share heating, cooling and water systems and split their costs.
Floodplain: part of the site is in a FEMA AE flood zone. The buildings are designed to be dry flood-proofed one foot above the advisory flood elevation, and the garage ramp has a flood barrier.
The park isn't guaranteed: the plan makes no promise about when or whether park facilities will be finished. Park use may bring noise and traffic.
A mortgage application to a Toll affiliate: buyers must either apply to TBI Mortgage, a Toll Brothers affiliate, at no cost or sign a cash-sale statement. You aren't required to take its loan. Disputes with the sponsor go to binding arbitration.
Services tied to sales: until 75% of homes are sold, the full staff and some amenities may not be available. Because the sponsor can rent unsold homes, that point may never come.

FAQ

Do Pierhouse owners own the land?

No. Pierhouse is a leasehold condo on a 97-year ground lease from the Brooklyn Bridge Park Development Corporation that began in 2012. Owners pay their share of PILOT and, from July 2017, ground rent of $655,760 a year (rising 7.5% every five years from the 10th lease year) through common charges.

Does Pierhouse have a pool or a roof deck?

No. The plan lists two fitness rooms, a screening room, a children's playroom with a terrace, a meeting room, a pet wash and a young adults' study room. There are no common roof terraces, but most apartments have a private terrace.

Is there parking at Pierhouse?

There's a garage below the two buildings, but it's a separate commercial unit open to the public. The plan gives apartment owners no guarantee or priority for a space, and the garage owner decides how many spaces there are.

Where this comes from: the building's offering plan (CD130156) as filed with the New York Attorney General, including its Special Risks, Summary of the Lease, Description of Property and Improvements, architect's report, Schedule A, Schedule B, Non-Residential Units and Identity of Parties. Prices are the sponsor's offering prices, not sales, and budget figures are the sponsor's first-year projections. Later amendments may change them. Updated October 2026.

Team

Sponsor: Brooklyn Pier 1 Residential Owners, L.P., an affiliate of Toll Brothers. Its principals are David Von Spreckelsen, Richard Hartman and Peter J. Monte.
Ground landlord: Brooklyn Bridge Park Development Corporation, a subsidiary of Empire State Development
Architect of record and design architect: Rogers Marvel Architects
Structural engineer: DeSimone Consulting Engineers
Mechanical engineer: Dagher Engineering
Managing agent: Century Management Services
Selling agent: Toll Brothers Real Estate (a sponsor affiliate)
Sponsor's counsel: D'Agostino, Levine, Landesman & Lederman
PILOT and tax projections: Israel Schechter, PLLC

The plan doesn't name an interior designer for the apartments.

Zoning

Zoning district: M2-1
Special district: Special Scenic View District (SV-1)

Today's zoning, from city data (PLUTO 26v2).

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The Condo Book Project Are Pierhouse's common charges high for the area? They're in line. Pierhouse budgets $0.92 per square foot a month, against a $0.94 median for the 9 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?