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January 25, 2006

No Luck on Luquer: New Condos Too Pricey

Over at 423 Smith, they're bemoaning being priced out of a location that they thought was in reach:

condo space

Mostly disappointed with the buildings going up in the neighborhood, I thought the condos going up on Luquer Street (between Smith and Court) to be acceptable and could see myself living there. And then I saw the prices! $1,095,000.00 for a 1 bedroom, 2 bath? Holy Jeebus! Granted, that’s the most expensive unit and you can get a 2 bedroom, 1 bath for $650,000.00 - but even that still seems ridiculous to me for this end of Carroll Gardens. Don’t get me wrong, I love all of Carroll Gardens and would gladly move from my Union Street apartment to Luquer (closer to work!) but I think I’d rather spend my 1 mil on a brownstone.

We agree with the sentiment, but unfortunately $1 million ain't gonna go too far in the Carroll Gardens brownstone market either.
191 Luquer Street [Corcoran] GMAP
Luquer, Filthy Lucre [423 Smith]




Comments

Any reason why these were originally on the Developers Group site and now are being marketed by Corcoran?

Posted by: Anonymous at January 25, 2006 11:16 AM

wow, pricey, but for a million, you could buy "the owners portion" of a 3 family in CG ... with probably more sq footage and upside, total price, say 1.5 million, with 2 1 bd apts, and owners duplex .... maintenance and taxes combined for this project would be about the same money as taxes and maintenance on a b'stone ....

of course you would have to come up with more down payment money .. but isn't that what mom and dad are for? or maybe a sub prime 2nd

Posted by: chuckdwawa at January 25, 2006 11:34 AM


Having been inside these Condos, I can say that they are some of the nicest new Condos I have seen in a long time. The architect really did a fantastic job.

Posted by: veggieburger at January 25, 2006 12:07 PM

These are really premium condos, not sure they are a good proxy for the general pricing in the neighborhood. I've seen the development and think that there is definitely a mark-up associated w/ the architecture/finishing.

Posted by: Anonymous at January 25, 2006 1:34 PM

the developers group couldnt sell them

Posted by: Anonymous at January 25, 2006 2:05 PM

The $1,095,000 is almost 2000 sq. ft. That's about $565.00 per sq. ft. Sounds decent to me, but I could be wrong.

Posted by: Anonymous at January 25, 2006 3:47 PM

Over $1 million to access your tiny bedroom through the dining room or kitchen? or am I mis-reading the floorplans?

Posted by: Anonymous at January 25, 2006 4:05 PM

What's most disappointing to me, besides the price, is how tiny the windows are in the bedrooms, and building'ss very close proximity to the elevated train track that are NOT soundless when the F or G train passes by. Much better designed modern building is currently being constructed on 2nd Place and Henry Street.

Posted by: Anonymous at January 25, 2006 4:19 PM

Do you know who's building the one on 2nd Place and Henry?

Posted by: Mary at January 25, 2006 4:38 PM

Can't remember who the developer is. There is a large board posted next to the building. It has all that info on it.

Posted by: Anonymous at January 25, 2006 5:48 PM

From an architectural standpoint this is a much more interesting building than the one on 2nd place. That building feels like the typical boxy condo tower. This is much smaller and more unique.

Posted by: Anonymous at January 25, 2006 6:03 PM

When I'm on the F train and looking at project, I always see how the huge air handler on the roof of the penthouse was installed inclined the rest of the roof rather than plumb. That is, what could have been a juicy silhouette, a piece of LA in Brooklyn, just looks slap dash and not controlled. Oh well.

Posted by: Anonymous at January 25, 2006 6:25 PM

You heard it here first people. There's a large sign with information posted on the site. Imagine that.

Posted by: Anonymous at January 25, 2006 6:58 PM

The development on 2nd Place is way out of context to the street, it distracts you from the beautiful queen annes to the west. The ugly silver are handler/vent on top, couldn't they've painted it black or something... geeze

Posted by: Anonymous at January 25, 2006 7:46 PM

developers do the same thing most over zealous sellers do - price way to high and then be pissed down the line when whatever it is won't sell. When a seller is "house proud" as these guys rightly are, they're blinded by their own emotional attachment.

Posted by: Anonymous at January 26, 2006 12:51 AM

Don't get ahead of yourself. The developers group priced these units and they priced them wrong beacause they don't know lick about the market!

Posted by: Anonymous at January 26, 2006 11:17 AM

trying finding a 850 sq. ft. condo in carrolls gardens with luxury finishes and balconies for under $700 k. what you are getting is a deluxe apartment with beautiful wood floors, amazing cook's kitchen and two bedrooms with balconies off the front and back in a great brooklyn neighborhood.

Posted by: Anonymous at January 26, 2006 5:33 PM

This whole thread is prompted by some sadly mis-informed person thinking he or she can buy a brownstone for the price of a luxury condo in carroll gardens. The whole premise makes no sense to begin with. This person probably couldn't afford either one.

Posted by: Anonymous at January 26, 2006 9:09 PM

We viewed a beautiful development in Carroll Gardens on Carroll Street. The finishes we were shown were beautiful. It is between Hicks and Columbia but some of them even come with parking and they were priced well under $700 a square foot. The views of Manhattan are spectacular.

Posted by: Anonymous at January 26, 2006 10:46 PM

That thing on Hicks is disgusting!

Posted by: Anonymous at January 28, 2006 7:05 PM

To come off cheap... Christiana

Posted by: Christiana at November 21, 2006 12:41 PM

Correction: Virtua Fighter Limited Time PS3 Exclusive..

Posted by: Baby Gay at January 4, 2007 11:07 AM

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