New Brokers, Some Price Cuts for OPP's Remaining Units
We haven’t checked in on sales at the Richard Meier-designed On Prospect Park for quite some time, but a press release that was sent out this morning brings us up-to-date on what’s going on with the condo: Brown Harris Stevens is the development’s new broker, taking over from Corcoran to market the remaining 21 unsold…
We haven’t checked in on sales at the Richard Meier-designed On Prospect Park for quite some time, but a press release that was sent out this morning brings us up-to-date on what’s going on with the condo: Brown Harris Stevens is the development’s new broker, taking over from Corcoran to market the remaining 21 unsold units in the building. The release notes that 10 of the unsold condos have been put on the market and that some are “price-improved.” A quick scan of StreetEasy reveals some of the price cuts: A two-bedroom that was listed for $935,000 when Corcoran had the listing is now asking $850,000; another two bedroom has dropped in price from $945,000 to $895,000; and a three-bedroom last listed for $1,800,000 is now asking $1,700,000. The building is 80 percent sold overall.
1 Grand Army Plaza Listings [Brown Harris Stevens]
Sales March on at On Prospect Park [Brownstoner] GMAP
So what – these condos will have virtually no taxes for 10 years..and then in 10 years (probably only 7 left) it will have extremely high taxes and the city will be reaping a windfall.
What is obscene is the thousands of $2M+ brownstones that are paying $2,000-$3000 of annual RE taxes – FOREVER
going back to the post about the Gehry designs at AY. this goes to show everyone that brooklyn is still not ready for “expensive” “star-chitect” designs and the hefty price tag. it has been what? at least four years? and this building has yet to sell out.
tax abatements have nothing to do with blight.