Quay Tower (50 Bridge Park Drive)

The 125 offered residences run from two-bedrooms through four-bedroom lines and a penthouse tier, with the aggregate initial offering of $507.66 million implying an average above $4 million — the highest-priced initial offering scale in Brooklyn at its filing. West-facing residences are organized around private elevator landings; finishes throughout are Marmol Radziner's specification. Every residence includes an in-unit washer and dryer; heat is provided by gas-fired boilers with residences metered for their own energy use per the plan's energy schedules; 71 storage lockers were offered separately.

The unit hierarchy follows the water. Harbor-facing lines above the parkland hold the building's defining views — the Statue of Liberty, the harbor, lower Manhattan — and carry the building's premium; east-facing lines trade the harbor for the Heights bluff and morning light at meaningfully different price points. The building's one non-residential unit was intended under the plan for conveyance to the park's side as a public facility serving Pier 6, with its common expenses specially allocated at zero — a quirk worth knowing, as residential owners carry the associated costs, and a literal expression of the building's relationship to the park.

Quay Tower operates as a full-service condominium with a resident manager housed in Residence 2B under a lease from the sponsor to the board (the offering plan sets out its below-market rent schedule and the board's associated costs). Common charges carry the building's operations plus each unit's proportionate rent — base rent and PILOT — under the ground sublease; the board also maintains a security fund with the park landlord sized to base rent and PILOT benchmarks, replenishable by special assessment if drawn. As at the park's other buildings, owners cannot pay or look up PILOT through the Department of Finance; the condominium's billing is the record, and lenders' escrow arrangements must run through it. The offering plan's income tax counsel opined that PILOT is deductible as real estate taxes for itemizing owners, subject to the standard limitations; confirm current treatment with your adviser.

Purchasers at closing contribute two months' common charges to the working capital fund. The building's offering plan, amendments one through six, and purchase application are maintained in The Roebling Research Library and shared with clients during diligence.

Ground rent and PILOT: Paid through common charges; PILOT equals full tax-equivalent assessment. Price the all-in monthly, not the fee-simple convention.

Lease term: Expires July 27, 2109; no renewal right; interests are surrendered at expiration (offering plan).

Park Transfer Fee: 0.75 percent of the sale price on resales from the tenth anniversary of substantial completion, payable to the park; allocation between buyer and seller is negotiable, but payment is a condition of any valid sale.

Subletting: Permitted for entire residences only; no transient tenancies (offering plan).

Pied-à-terre / LLC / foreign buyers: Permitted (standard condominium).

Pets: Pet-friendly (pet-wash on site); confirm restrictions at application.

Washer/dryer: In every residence.

Working capital: Two months' common charges per purchaser at closing.

Recent sales

Recent closings at this building, from The Roebling Research Library. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.

Market read. Most recent trades (2026 to date) cleared a median $1,654/sf (floor-adjusted) across 6 sales. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount 5.6% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-00245-7502; each condominium apartment is its own tax lot). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage from recorded condo declarations and offering plans.

Read the lease summary before the floor plan. PILOT-inclusive common charges, base rent, the security fund, the 2109 expiration with surrender, and the 0.75 percent Park Transfer Fee on resales are all structural. None is exotic once understood; all belong in your underwriting, and our carrying-cost analysis prices them explicitly.

The view tier is the value tier. Harbor-facing lines above the park canopy carry the building's premium; east-facing lines are a different, more accessible product. Price accordingly, and visit at more than one hour of day.

Interiors are a genuine differentiator. Marmol Radziner's specification is consistent building-wide and distinct from the borough's developer-standard finish packages; turn-key condition here carries real premium.

Transit is a walk. Borough Hall's 2/3/4/5 and Court Street's R are up Joralemon or Atlantic; many residents organize around the ferry at Pier 6's doorstep, Atlantic Avenue, and car or bike commutes.

Condo mechanics are standard, with one addition. A right of first refusal applies; the leasehold adds the lender recognition requirements described in the plan — use counsel familiar with Brooklyn Bridge Park's structure.

Market the records and the scarcity. Brooklyn's price ceiling was set in this building; 126 units and no comparable tower on the park is the pitch, and the borough's trophy-buyer pool knows the address.

Get ahead of the leasehold conversation. Provide the lease summary, the PILOT explanation, and the all-in carrying analysis in the deal room; buyers who hear the structure first from their own attorney negotiate more defensively.

Model the Park Transfer Fee into net proceeds. Once applicable, the 0.75 percent fee is negotiable between the parties but must be paid; your net sheet should carry it from day one.

Price against the sponsor curve and your line. With a short resale record, the original sponsor pricing trajectory on your specific line, adjusted to 2025 conditions, is the honest anchor.

If you're considering Quay Tower, also evaluate:

• One Brooklyn Bridge Park (360 Furman Street) — the park's warehouse conversion next door; loft volume, deeper amenity stack, and an owner-favorable lease endgame at a lower basis
• 90 Furman Street — the Pierhouse condominium at Pier 1; the park's other for-sale leasehold, mid-rise against the Promenade
• One Clinton (1 Clinton Street) — Brooklyn Heights' fee-simple new-development tower inland at Cadman Plaza; the structural alternative for buyers wary of leasehold
• Front & York (85 Jay Street) — DUMBO's full-block amenity condominium; broader amenity program, different waterfront
• 1 John Street — the park's boutique condominium at the DUMBO end; same PILOT framework, 42-unit scale
• J Condominium (100 Jay Street) — DUMBO's established view tower at a more accessible basis
• 1 Main Street (The Clock Tower) — the trophy loft alternative for harbor-view buyers who want volume over altitude