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April 13, 2006

Set Speed Condo Report: Park Circle

condo
As the trickle down effect makes its way through Brooklyn, buyers who are priced out of some of the primer parts of Brownstone Brooklyn have gone hunting in some of the nearby neighborhoods, including the areas by Prospect Park's Parade Grounds. Looking to stretch their dollars, buyers have targeted Ditmas Park, Prospect-Lefferts Gardens and Kensington in search of housing.

This week's report focuses on Park Circle at Prospect Park, a 30+ unit condominium located at 346 Coney Island Avenue. Units range from a 900-square-foot 1-bedroom, 2-bath to a 1,680-square-foot 3-bedroom, 2-bath. Prices run from $380,000 to $975,000 while maintenance runs from $293/month to $547/month and real estate taxes from $10 to $20/month.

Most units feature outdoor spaces to take advantage of their view atop the southern tip of Prospect Park. There is a doorman, available parking, washer/dryers and a video security system. This address is zoned for PS 130 at 70 Ocean Parkway and JHS 62 at 700 Courtelyou Road per the NYC Department of Education website. As for transportation, the building is located 3 blocks from the F stop at Ft. Hamilton Parkway or a long 3-block walk to the Q at Parkside Avenue.

Brownstoner readers in the past have lamented the lack of quality amenities nearby, like restaurants and grocers. Coney Island Avenue is also quite a commercial street with gas stations, auto body shops and has its share of run-down storefronts. On the positive side, easy access to the Park is incomparable, and if you're an avid tennis player, the indoor tennis courts are a few blocks away.
New Developments [Corcoran] GMAP
New Condos on CI Avenue [Brownstoner]

Every Thursday, ltjbukem, whose own blog Set Speed scrutinizes the progress and quality of new developments in the area we know as Brownstone Brooklyn, pens a guest post about goings-on in the condo market with an emphasis on new projects.




Posted by Brownstoner at 11:34 AM | Comments (22)
Categories: Condos

Comments

Those views are gonna be phat, phat, phat and $380K for 900 sf doesn't sound so bad to me.

Posted by: Anonoomoos at April 13, 2006 1:05 PM

What's this area like at night?

Posted by: Kel at April 13, 2006 1:29 PM

dead at night

Posted by: Anonymous at April 13, 2006 1:40 PM

The area's dead or you're dead if you walk there?

Posted by: Kel at April 13, 2006 1:55 PM

The are is dead in the sense that it's extremely quiet and there are very few bars and restaurants nearby. Very safe, though.

Posted by: Anonymous at April 13, 2006 2:26 PM

Well...moderately safe. (Argyle and Stratford between Church and Coney were once described thus by our 7-0 beat cop: "If you could just wall in those blocks, we'd be fine." And it is dead, except for the horsies at Caton stable. The walk to the 'F' is a b*tch; you have to cross the Coney Island traffic circle...and it is indeed a long way to the Q and B, very long blocks. The headwaters of Coney Is Ave are still a wasteland of auto shops, and the chunk of Church Ave between Ocean Pkway and Ocean Ave is a wasteland, too. But you are steps from the tennis bubble, and you have the distinction of living in a blocky ziggurat even bigger and uglier than the one across the circle overlooking the piece-o-suburbia Commerce Bank.

Posted by: Brenda from Flatbush at April 13, 2006 3:12 PM

Actually the walk to the F is easy. If you lived at these condos you'd walk west on Caton to the entrance on the west side of Ocean Parkway. (That allows you to stop by the market on your way home too.)

The walk to the Q and B is less than 10 minutes from there.

As far as it being 'dead'- there are a number of developments going on there and I would venture that the lot that was formerly used by the nursery might become a new development. Granted it's not 5th Avenue- but if prospective buyers had $800,000 for a two bedroom they probably wouldn't be looking here in the first place.

Posted by: P at April 13, 2006 3:36 PM

development all over brooklyn is so insane. not only are crack houses going for nearly a million dollars but buildings built on possible toxic dumps are being touted as luxury lofts!!
will it ever end?

Posted by: rp at April 13, 2006 4:35 PM

Brenda:

Argyle and Stratford run parallel to Coney. Did you mean between Church and Caton?

Posted by: Anonymous at April 13, 2006 5:58 PM

Yes, I meant between Church and Caton, thanks. We've lived in this nabe for years, chimes in the Spouse, and he says "this is no great shakes for a 'luxury' condo" that's also ugly.

Posted by: Brenda from Flatbush at April 13, 2006 7:12 PM

I drive by this place everyday, and have to agree it's ugly. Looking at the floorplans on Concoran, I also see that the rooms are irregularly shaped, which makes it a harder to place furniture well. I don't know, I'm looking for a place to buy now, but don't think I'll consider this building...

Posted by: Anonymous at April 13, 2006 11:37 PM

I own a house in center slope and a house in Ditmas Park which is few blocks down. The location of this condo is excellent, no problem at night and to the losers here that think that you're dead if you walk at night I'd say your chaces to be mobed in P.S are greater than in Park circle. It is in fornt of the police station. Few garges and gas stations are not a sign of crimes as ignorants losers are posting here.
Let me tell you about this area: there are 3 hugh sites that are waiting for luxury condos along Coney Island Ave.
300 yards from these condos. I guarnetee
that once it is being occupied at no time you'll see around 200 more new luxury condos being built. within 3 years all garages and junks will be out and the whole strip will be condonized
big time with big premiums.My opinion there will be a big shopping cneter build on one of these garages/gas stations and you all park slopers will be playing tennis and shopping as well.

Posted by: developerxx at April 14, 2006 3:44 AM

Developerxx,

All that change in only three years?That sounds like pie-in-the-sky thinking, but hopefully you're correct. Time will tell.

Posted by: Anonymous at April 14, 2006 8:06 AM

I have to agree. CIA is ripe for 4th ave style developments of commercial and residential buildings. 4th ave didn't take that long so I don't think three years is pushing it. I also agree on the safety issue, the freaking police station is right across the street.

Posted by: Anonymous at April 14, 2006 11:58 AM

I think previous posters were saying that the AREA is dead at night, there being no one around, and nothing to do (which is true); they weren't commenting on it being an unsafe neighborhood!

Posted by: Anonymous at April 15, 2006 5:53 PM

Ummm, are you crazy? It is pretty unsafe, go see for yourself...

Posted by: Anonymous at April 16, 2006 8:13 PM

Actually, I live her and see for myself every day. It's not dangerous, except for the isolated blocks mentioned above, and if you were living in Park Circle you would have absolutely no reason to set foot there - period.

Posted by: Anonymous at April 17, 2006 8:19 AM

Sometimes I get the impression that for some people who visit this site, the only definition of "safe" is the upper West Side or a neighborhood pretty much devoid of ethnic minorities or lots of spare income... I've lived in some of the toniest nabes in Manhattan, and some of the least desirable (LES before it was the LES of today), not to mention Park Slope and some less trendy Brooklyn destinations. The only time I ever heard someone scream for his/her life at knifepoint was outside my $7000 per month 4 bedroom 4 bath brand new loft conversion just a few blocks north of Union Square... about seven years ago. The city seems to get safer every day. I was a bit intimidated by the LES back then (five years ago) but it was very safe and friendly. I've found the same true of Brooklyn, for the most part (no specific nabes mentioned, don't want to get back into THAT thread)... This neighborhood is fine.

Posted by: Anonymous at April 17, 2006 8:25 AM

Neighborhood is fine and getting finer.

Posted by: Anonymous at April 17, 2006 10:48 AM

Condos are overpriced for this nabe. Anyone smart enough to comparison shop will find much better deals -like the same apt. in Prospect Heights for much less.

Also the psychology of new construction never ceases to amuse me.
Does anyone really think NYC developers aren't going to build cheap and sell high? Think of granite countertops as lipstick on a pig and you get the idea.

There are several new bldgs in park slope as we speak in arbitration with the NY AG's office over sponsors who built on the cheap, leaving new condo boards with defective money-pit buildings. Kiss your tax abatement benefit goodbye.

Anyone even thinking about a new construction home should be very, very careful about what they are buying. Hire an engineer to check it out.

Posted by: Alo at April 17, 2006 3:45 PM

I agree that the Commerce bank is ugly as sin, but it replaced a gas station, so tit for tat, really. The time to get up in arms is when something beautiful is razed for complete crap. This happens all the time. Take a walk past the yellow brick refinished home on cortelyou on rugby (past thread). Ouch.

Posted by: Anonymous at April 18, 2006 9:35 AM

I live in this neighborhood right behind this building and have watched this monstrosity go up. It may be cheaper than park slope, but it is still too expensive for me. 300k for 900 sq ft. might be cheap for NYC but it is still inhuman. As for safety, this neighborhood has very few stores or late night amenities but it is totally safe. The walk to the F train is tolerable. and you all sound like the whitest bunch of yuppies, I am disgusted quite frankly.

Posted by: the horror at April 25, 2006 12:08 AM

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