Brooklyn Tower Empty Despite Luxury Appeal

The Brooklyn tower empty issue is raising eyebrows across the real estate world. Although this supertall skyscraper offers sweeping views and a standout design, it remains largely unoccupied. The 93-story building, located at 55 Fleet Street, was expected to redefine downtown Brooklyn living—but so far, it’s eerily quiet.

One of the tower’s few residents, Perri Feinstein, said, “I literally don’t see anyone, ever.” She lives on the 15th floor and moved in through New York’s housing lottery, paying $2,630 a month. While she loves her apartment’s light and design, she noted the absence of any usable amenities.

High Prices, Low Turnout Keep Brooklyn Tower Empty

With units ranging from just under $1 million to $8 million, many buyers are hesitant. Only 19 of the 143 condos have sold since the building opened. Even with its glamorous touches—like a sun deck, a fitness center, and the tallest basketball court in the Western Hemisphere—the tower struggles to attract interest.

Real estate broker Ryan Garson said the skyscraper was designed to rival Manhattan’s elite addresses. However, its luxury pricing doesn’t match the local market. “It came out like a Billionaire’s Row tower, but without the square footage,” he explained.

Architecture Stuns, But Atmosphere Falters

The building’s jagged, jet-black silhouette and copper base have earned it comparisons to Sauron’s Tower from The Lord of the Rings. While architect Gregg Pasquarelli calls it “Brooklyn’s Empire State Building,” many locals see it as intimidating.

Feinstein described the look as both “sexy” and “powerful,” yet admitted it can be isolating. “It’s cool to live here, but it’s lonely,” she said. “And there’s still no gym or shared spaces open.”

Foreclosure And Delays Slow Momentum

A foreclosure in 2023 led to Silverstein Capital Partners acquiring the property for $672 million. The management shift caused delays in opening resident amenities. This added to the sense that the Brooklyn tower empty situation could last longer than expected.

Despite that, Garson remains hopeful. He believes the tower is positioned for a turnaround once buyers recognize its long-term value. “Brooklyn is still emerging,” he said. “But once people catch on, this building could lead the way.”

Can Brooklyn Tower Bounce Back?

There are early signs of promise. A studio unit recently sold for $905,000—the highest price-per-square-foot studio sale ever in Brooklyn. Garson compared the tower’s slow start to Manhattan’s 125 Greenwich, which finally gained traction after years of setbacks.

The developer also took advantage of New York’s expired tax incentive program, offering 20% of the units as affordable housing. That mix of luxury and subsidy adds complexity but could help future sales.

As new construction slows across the city, the Brooklyn tower empty state may prove temporary. With few competitors in the pipeline, this skyscraper could eventually become the crown jewel of downtown Brooklyn real estate.