Originally, One Boerum Place “was very much envisioned as a condo,” says Fisher. “At that time, the condo market was roaring and all signs were pointing to continued growth, and in our company’s history, this was the culmination of the condo pipeline we’d amassed.”
By 2019, New York’s luxury condo market was no longer roaring, though it was certainly chugging along compared to a year later, when the city’s housing market cratered during the pandemic. “We really started bottoming out in 2019, or it seemed like the bottom,” says John Walkup, the co-founder of UrbanDigs. “Then Covid hit and shook everything up again.”