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December 12, 2006

Mixed Results on Greene and Grand

318 grand
There are a handful of buildings near the intersection of Grand and Greene in Clinton Hill that have come online in the past few months with wildly divergent levels of success. 318 Grand Avenue, which was divided into three three-bedroom condos, recently sold out after some minor price-cutting. Across the street, the five-story rental charging upwards of $2,000 a month for a one-bedroom has been filled, we reported last month. Meanwhile, after failing to find a buyer, the developer of this heinous monstrosity, has been trying in vain for the last several weeks to find a couple of suckers to pay him some rent to no avail. Hah! And a little further east, at the Shoe Factory, we hear that sales are going more slowly than hoped, despite a fairly significant price cut. We're a little surprised by that one.




Posted by Brownstoner at 10:54 AM | Comments (18)
Categories: Market

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Comments

That is hardly a heinous monstrosity.. It's out of scale but otherwise looks good to me. ,if you were living in it, you'd have more space.. I think you missed the mark on this one, since it's in your 'hood.

Posted by: Anonymous at December 12, 2006 11:19 AM

I don't even know where to begin to respond to the anonymous comment defending the heinous monstrosity, so I'll just leave that alone.

Now a note related to the picture: in the lower left-hand corner you can see a small building. I live a block away, and so my wife and I have been watching the work on that little building with interest -- it looks like it should be a restaurant or small commercial space.

When my wife asked someone who was working on the building, though, they told her that it was going to be a residence. Anyone got any info?

Posted by: W.B. McNamara at December 12, 2006 11:32 AM

Was the person defending the heinous monstrosity looking at the photo of the brick building at the top of the article rather than the actual monstrosity shown on the link? That's my guess.

Posted by: Anonymous at December 12, 2006 11:38 AM

Yeah, we bet they did not click thru to the linked photo...

Posted by: Brownstoner at December 12, 2006 11:58 AM

Yes, the attached low level building is going to be two apartments. My understanding is that they have been sold already, but not sure. My friend who lives across from the "monstousity" refers to it as the "Gaza Strip" building (which may be unfair to residents of that territory who have lived under occupation for two generations - oh no, what have I started...)

Posted by: putnam-denizen at December 12, 2006 12:18 PM

W.B McNamara, I went to the open house for these units and the small building you are refering to with the nice Pella windows was being sold as a condo along with the other three units.

It is a duplex where a large portion of the floor area is beneath grade. It also has a roof deck. The store front / live work area above grade is really nice, as is the unit. It's a little awkward the way the space is cut up, but the workmanship looked pretty good. I thought this unit had been sold by Jerry Minsky along with the other ones, but I could be mistaken.

Posted by: Shahn Andersen at December 12, 2006 1:31 PM

think you're right, Shahn

Posted by: Brownstoner at December 12, 2006 4:22 PM

242 Greene- Shoe Factory Lofts Price
1A 2208 2BR 2.5BTH 875,000 Available
1B 2006 2BR 2.5BTH 785,000 Contract Out
1C 2001 1BR 1.5BTH Yard 785,000 Available
1D 1170 1BR 1BTH Terrace 585,000 Available
2A 1558 3BR 2BTH 725,000 Available
2B 1231 2BR 1.5BTH 595,000 Contract Signed
2C 1666 3BR 2BTH Terrace 875,000 Available
3A 1558 3BR 2BTH 750,000 Contract Out
3B 1231 2BR 1.5BTH 620,000 Contract Signed
3C 1666 3BR 2BTH 825,000 Contract Signed
4A 1558 3BR 2BTH Roof 800,000 Contract Signed
4B 1231 2BR 1.5BTH Roof 675,000 Available
4C 1666 3BR 2BTH Roof 875,000 Available

Posted by: tips at December 12, 2006 4:30 PM

I saw the units at the shoe factory. They were nice. Anyone has a clue why they are not selling?

Posted by: Anonymous at December 12, 2006 4:32 PM

They sure are big enough.

Posted by: Anonymous at December 12, 2006 5:02 PM

I think they are great deals too. Those are massive apartments. But they are selling. Looks like almost half are gone already. It’s not as if they are $300K studios… in a 100 unit building. There’s really only one or two of each unit.

Posted by: brktwo at December 12, 2006 5:32 PM

heh tips: a contract out means absolutely nothing...it sounds good, but until the buyer returns it with the deposit and the seller signs, it might as well say AVAILABLE!!! we are not as stupid as you would like us to believe.

Posted by: Anonymous at December 12, 2006 6:35 PM

Hey hostile anonymous person. Thanx for helping me read. I had punched the letters O-U-T on my keyboard but until you gave me this helpful advice I had not a clue what that word meant. Just

Posted by: tips at December 12, 2006 6:44 PM

Question, if you had a choice bewteen the lofts on Greene Ave and the cheaper ones at 970 Kent St which would you prefer? The quality and space at both are similar(would give the shoe factory a slight advantage) the views at Kent are wonderful,however, the Projects are right accross Dekalb Ave.

Posted by: Anonymous at December 12, 2006 7:44 PM

In addition to 318 Grand Avenue having a complete sell out so too did 434 Waverly Avenue.

Posted by: anon at December 13, 2006 8:59 AM

Who had 434 Waverly?

Posted by: anonymous at December 13, 2006 9:00 AM

The upper duplex in the heinous monstrosity has been rented. The lower triplex I believe is still on the market. That huge front window (covered with plywood in the photo) is really bizarre -- I was in there one evening showing it to some people (who actually liked it, except that the lower level only had a half bath and they wanted a full), and someone knocked on the window and asked me if I lived there. Really like living in a fishbowl -- first purchase would have to be drapes or shades or blinds or something.

Posted by: babs at December 13, 2006 1:31 PM

I live around the corner in the Ping Pong building...that 1/2 sized thing is bizaare, with the Home Depot front door and all. It is a f'ing monstrosity. A couple of years ago, an architect acquaintance of mine almost bought that plot which I wish had happened because he would have done a lot better with the space, for sure.

While were at it, what's the deal with that truly awful rental development on Classon between Clifton & Lafayette? These developers are destroying this neighborhood.

Posted by: jvf at December 13, 2006 7:54 PM

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