Condo of the Day: 118 State Street
A prospective buyer has a post on the Forum about whether prices at 118 State Street, a 150-year-old carriage house that’s been converted into four condos, are too high, even for the Heights: The renovation work looks pretty nice, and it is a prime block, but does anyone on this forum other than Corcoran brokers…
A prospective buyer has a post on the Forum about whether prices at 118 State Street, a 150-year-old carriage house that’s been converted into four condos, are too high, even for the Heights:
The renovation work looks pretty nice, and it is a prime block, but does anyone on this forum other than Corcoran brokers think that over $1200/sq ft is going to sell in BROOKLYN? I think this is absolutely absurd since we’ve seen pretty nice 2 bedrooms for under $1 million in this neighborhood, but maybe I’m wrong.
As it turns out, one of the units has already gone into contract, according to Corcoran’s listings page, but at least one person who responded to the post agreed that 118 State’s prices may be a bit nosebleed: “I wouldn’t pay that… for 3 million you can buy a very nice brownstone in PS.” Then again, you don’t find many brownstones with 25-by-90-foot floorplates in this great a location either. (Disclaimer: This property was advertised on Brownstoner briefly last spring.)
118 State Street [Forum]
The Carriage House [Brennan Real Estate]
118 State Listings [Corcoran]
Mr. Brennan, why did you choose to use laminated cabinets for a luxury property?
I’d live here
Dear Mr. Rehab – Why surprised? What is the extent of your dealings with LPC?
D Brennan
Whatever, Mr. Brennan– the windows still don’t look right. I’m really surprised they would clear LPC.
If you are a buyer and are interested in learning why this project is different from what is alternatively available in the market place please do not hesitate to contact me via email. I am the developer. I would more than happy to go over all the construction details and explain why certain decisions were made, including those related to the street facade (which the LPC has a heavy hand in).
Donald Brennan
dbrennan@brennanrealestate.com
For the record – all windows are custom high performance double-glazed insulated Kolbe products, clad exterior (low maintenance and durability) and wood interior. They are not stock aluminium windows as some of the above posts have incorrectly stated.
I think the fact that only one of these is in contract speaks for itself. The others have sat unsold for several months now. Time for a price cut. Anyone who thinks anywhere in Brooklyn will be at $2000 sq/ft any time soon is either a broker with dreams of commissions dancing in her head or a Brooklyn property owner hoping to sell their apartment to fund their retirement.
so as a compteting broker, 5:55 we should listen to your non biased viewpoints as the word of the lord??
no thanks.
From someone who has sold a lot of houses in the past two years a figure of $2000 per square foot is simply ridiculous. The Manhattan market is being held up by “some” Wall Streeters and the falling value of the dollar. This will probably only be the case for another six months or so. State Street is the fringe of the Heights and is often used as a shortcut for folks who wish to avoid traffic along Atlantic Avenue. Properties which are appropriately priced have accepted offers within a month or so of coming on the market. And so it goes….. Due to lack of current inventory, agents and brokers are taking overpriced listings and then attempting to manage sellers’ expectations. This is not the proper way to do business.
Charlie…
Ridiculous– but I guess it takes all kinds. Me, I’d rather spend $2.8 on 60 St. Marks Place in the Slope, and have myself a 4-story Italianate brownstone packed with original details, and sporting a really nice backyard. And no set monthly charges, condo meetings, or annoying neighbors tromping above you.