Converted Brooklyn toy factory gets ready for playtime

Real Estate Weekly, Sept 8, 2004

The Toy Factory Lofts, the first luxury residential condominium project to be completed in downtown Brooklyn, is gearing up to begin sales at the end of the month, pending final approval of the offering plan by the Attorney General's office, announced Natalie Cadoch, director of marketing for the developer, Winchester Realty, LLC.

Located at 176 Johnson St., in the former factory where the popular Electric Football games were once manufactured, the Toy Factory Lofts' 56 condominium units are being marketed by The Developers Group. Setting the standard for other residential projects in the area, the building will feature amenities appealing to young professionals, such as a fitness center, common roof deck and on-site parking. Marketing efforts are focusing on a buyers' demographic similar to such nearby areas as DUMBO, Williamsburg and Fort Greene.

A website has been recently launched, thetoyfactorylofts.com, to further market the property through virtual tours, photographs and location maps.

The individual units, which are priced from the mid $200,000's, include high-end GE stainless steel kitchen appliances, granite kitchen countertops, four-inch wide plank oak floors, separate in-unit laundry rooms with washer/dryer hook-ups, jet-spray tubs and above-counter bathroom sinks, high-speed Internet and cable access, modern light fixtures and abundant storage space.

Moreover, all of the units in the 64,000 s/f, eight-story building have 11-foot high ceilings and oversized, wall-to-wall 8-foot high windows. Many of the lofts offer views of the Manhattan skyline, Williamsburg Bridge, Manhattan Bridge and Brooklyn cityscapes. The location is also three stops away from Manhattan and close to such trendy Brooklyn neighborhoods as DUMBO, Cobble Hill, Brooklyn Heights and Fort Greene.

"Between the price point, convenient location and wonderful amenities, I know we have a winning project," said Ms. Cadoch. "But because downtown Brooklyn is still a new location for luxury residences, our market will most likely consist of first time buyers and younger, professional types initially. In terms of amenities and design, though, we surpass most of the condos in Williamsburg, DUMBO and Fort Greene. And as the area's pioneering condo conversion, we're right on target from a pricing standpoint."

With its uniquely livable design, The Toy Factory Lofts has already won a coveted 2004 SARA Design Award of Honor. The eight different unit lines feature open space designs with alcoves that may be adapted for enclosed rooms. The common area hallways are patterned in a zigzag fashion, creating private entry alcoves leading into spacious interiors. In addition, the building's structural columns have been designed into both the lofts' interiors and the common hallways, evoking a dramatic, yet playful quality reflective of the building's origins as a toy factory. The lofts range in size from 600 s/f to nearly 1,200 s/f.

The revitalization of downtown Brooklyn is well underway with several new commercial and residential projects currently in progress. Other residential projects slated for the area in the immediate future include 53 Boerum Place, 125 Court St. and 110 Livingston St.