Rose Associates Completes Sales at Oro

Posted On January 30, 2013

Rose Associates, the New York-based full-service real estate firm, announced today that the last apartment available at Oro is in contract. This marks the completion of sales at Oro, a 303-unit condominium residence at 306 Gold Street in Downtown Brooklyn. 

“We are very pleased that Oro is now 100 percent sold,” said Robert A. Scaglion, senior managing director of residential marketing at Rose. “Since we took over marketing, we were able to maintain a steady pace of sales without compromising price. In fact, we instituted six price increases over the past 12 months.” 

The glass and brick Oro was designed by Ismael Levya and is comprised of studio, one-, two- and three-bedroom homes. The building was first introduced in 2009 and Rose took over marketing in September 2009. At the time, Oro faced a shortage of capable buyers due to the recession. Rose introduced a rent-to-own program that delivered immediate results with 15 apartments converted from rent to purchase. The rent-to-own program was terminated in 2010, and by early 2011 Rose was selling an average of six condominiums per month. 

"We had a very active year, with more than 60 apartments selling in the past 12 months," said Rafa Maciejak, manager of residential sales for Rose Associates. "A selection of these homes sold at north of $900 per square foot, which is a positive sign for this neighborhood." 

Oro residents enjoy impressive views from floor-to-ceiling glass windows, and homes that feature hardwood floors and sleekly designed modern kitchens. The building has 24-hour doorman service, a heated, indoor lap pool and a two-story fitness center with a cardio deck, free weights and a basketball and racquetball area. There is also a screening room and mahogany residents lounge. 

In recent years, Rose has become increasingly active in Brooklyn. The company handled pre-development consulting and marketing at 34 Berry Street, a seven-story Williamsburg rental, and at 184 Kent, a 340-unit rental residence also located in Williamsburg. Rose will continue to manage Oro and will be handling select resale apartments. 

About Rose Associates, Inc.

Based in New York, Rose Associates is a developer, owner and operator of premium residential properties. From planning a new development to managing day-to-day property operations, the Rose 360 Platform offers a full range of services designed to maximize the value of real estate. The firm oversees more than 26,000 units across New York, with approximately $2 billion in projects under development. Rose recently opened the historic skyscraper 70 Pine Street, which the firm is transforming into a luxury rental property with 644 residential units, 132 extend-stay apartments and a destination restaurant/lounge occupying the top four floors.

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