It looks like the developer of new condo building at 622 Foster Avenue in Midwood doesn’t want to stick around through the arduous sales process. The seven-story, 35-unit building (with an additional 10,000 square feet of commercial and community facility space) is being offered as whole while the last bit of construction is being completed and the offering plan is up for approval. The price? $25.5 million. At that price of over $500 foot, a buyer would have to have a pretty optimistic outlook for what he was going to be able to turn around and sell the individual units for, no? Can anyone point to a good comparable for this building?
622-630 Foster Avenue [Douglas Elliman] GMAP P*Shark
Photo by Nicholas Strini for Property Shark