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In today’s edition, The Brooklyn Eagle trumpets the news that Halstead has begun marketing condos at both 870 Pacific Street (pictured) and 136 St. Marks Place. 870 Pacific has actually been on the market since early November, as we reported at the time. The real news there is that the eight units received a round of single-digit price cuts last week; prices now range from $299,000 for a 477-square-foot studio to $760,200 for a 1,254-square-foot two-bedroom. As for 136 St. Marks, the article claims that the “sister building” at 134 St. Marks Place (covered here) sold out last year “in just a few weeks” (though this was after a couple of years of false starts). As we noted back in 2007, 136 St. Marks is the mirror image of 134, though, frankly, it all looks like one building from the outside. (We suspect there are marketing and financing benefits to dividing the place up into two buildings; easier to get to 50% sold, etc.) There are nine units at 136, ranging from $425,000 to $795,000.


What's Your Take? Leave a Comment

  1. Helming? (I know, @ the helm but…)

    16x works for Pac St studios (1.5k/mo) but not 2BRs (4 grand/mo, um, no!). Historic 10x (by rate ramp?) crashes everything.

    “dividing the place up into two buildings; easier to get to 50% sold”

    Nice. Games like these are anecdotal to the current double dip.

    ***Bid half off peak comps***