Kodachrome Goes Rental
In another clear sign developers are having a tough time moving condos, word on the StreetEasy discussion board is the Piet Mondrian-inspired 192 Spencer Street in Bedford Stuyvesant, also affectionately dubbed the Kodachrome building, is going rental. Last November, we reported 10 percent price cuts, bringing one bedrooms down to $325,000 to $611,100 depending on…
In another clear sign developers are having a tough time moving condos, word on the StreetEasy discussion board is the Piet Mondrian-inspired 192 Spencer Street in Bedford Stuyvesant, also affectionately dubbed the Kodachrome building, is going rental. Last November, we reported 10 percent price cuts, bringing one bedrooms down to $325,000 to $611,100 depending on size (with tightened lending practices, the down-payment for those units would be $65,000 to $122,220). Calls to the developer and sales agent were not returned, but listings have been pulled from The Developers Group website. After the developer closed on the property in 2004, an 18-unit condo across the street sold out within six months for $300,000 to $445,000, according to Property Shark. Was Kodachrome priced too high for the area or was its timing just bad? Or is the area just not quite there yet?
Kodachrome Building Open For Business [Brownstoner] GMAP
‘Kodachrome’ Building Underpromises, Overdelivers [Brownstoner]
Somebody remind them that you need a C of O from the DOB to rent. You can look across the street at Mandy Brach’s epic fraud as well.
Right gwbrubaker–the design looks more DDR than Soviet. I guess the developer is changing its name to “VEB, The Developers Group” 🙂
LOL @ Forrestian. You hit the nail on the head. I was thinking Karl Marx Stadt Expo building.
No chance 11:31. Where are the requisite offset balconies and hideous window guards to keep their spawn from falling out?
Looks good to me. I like the look.
building is totes fab. location blows chunks.
building is totes fab. location blows chunks.
Brownstoner’s opinion of this building has me totally confused… one month it’s “great” and another it’s “an incredibly ‘fugly’ building”.
I think it looks a bit GDR/Soviet myself… but Ostalgia is cool sometimes, jah?
i wouldn’t buy one of these with YOUR money.