This week’s report focuses on a project located catty-corner to the proposed Atlantic Yards project and at the nexus of three burgeoning neighborhoods–Fort Greene, Boerum Hill and Prospect Heights. Located above the Dunkin Donuts diagonally across from the Atlantic Center, this condo project has the benefit of being well-located for transportation options. Given the convenient location, you’d think that this would have sold out quickly. Not the Case: Only 2 of the the 7 units are in contract according to the Corcoran site. The rest of the places are priced from $379,000 for a 527-square-foot studio to $595,000 for a 1,025-square-foot duplex. The fact that these apartments are listed in the Recent Listings section of Corcoran suggests that their asking prices have been lowered considerably since they were originally offered. Common charges are $178 a month to $459/month for real estate taxes for the largest units to half those for the studio.

A few positives of this project are the central location, good light, nearby access for the religious-minded, quick shopping access and, for some, the availability of duplex units. A few negatives are bad light if the 17 Gehry towers are built at the Yards, noise from 4th Ave/Flatbush/Atlantic traffic and litter from Dunkin Donuts patrons down below. Judging from the pictures on the site, amenities include granite counters and stainless steel appliances as well as wood strip floors. At $495,000 for an 1,149 square foot duplex, these units just might appeal to a single person or young couple who can live in a lively and bustling area and yearns to have a work space separate from their living space. But as of yet, no one has stepped up to the plate.
Atlantic Avenue Condos [Corcoran] GMAP

Every Thursday, ltjbukem, whose own blog Set Speed scrutinizes the progress and quality of new developments in the area we know as Brownstone Brooklyn, pens a guest post about goings-on in the condo market with an emphasis on new projects.