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May 16, 2007

A Tweak and a Trim at One Hanson Place

Despite having surpassed the 50% sales mark, they're still fine-tuning the pricing over at One Hanson Place. Surprisingly, a 1,050-square-foot two-bedroom on the 17th floor was just trimmed from $883,858 to $864,471; less surprisingly, a 590-square-foot one-bedroom on the 19th floor received a heftier reduction from $642,147 to $598,930. (We'd think that $800 a foot for a two-bedroom would be getting the job done; we can see why a smaller apartment asking over $1,000 a foot needed a push.) We were up on those upper floors a few weeks ago and remain bullish on this building.
One Hanson, Apartment 17G [Corcoran] GMAP
One Hanson, Apartment 19E [Corcoran]
One Hanson Breaks 50 Percent Barrier [Brownstoner]

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Comments

For many years I worked on the 23rd floor of One Hanson... incredibly beautiful views!
Oh to have an apartment there!

Posted by: bren at May 16, 2007 12:51 PM

Big development in this area was inevitable ... it was on the table back in the 60's before the city went broke.

Posted by: bren at May 16, 2007 12:59 PM

Hey, if I had the money I would buy in that building for $800 a foot. That's a good value compared to townhouse renovations in Park Slope. Those views are incredible and the finishes in the building look great. Screw 'Atlantic Yard Effect'. That area of Brooklyn is a hot ticket.

Posted by: Bobby at May 16, 2007 1:03 PM

I totally agree!

Posted by: bren at May 16, 2007 1:11 PM

all of brooklyn is a hot ticket these days.

Posted by: anon at May 16, 2007 1:15 PM

i'd take that 19th floor apartment in a flash. perhaps even less than a flash. seems like a deal, for a number of reason, to me. despite the *potential* AY effect.

Posted by: christine at May 16, 2007 1:17 PM

I think what he meant by
ATLANTIC

YARDS

EFFECT

is that this building in construction phase is already over 50% in contract.
As a positive not negative.

Posted by: Anonymous at May 16, 2007 1:19 PM

$800 a foot? Some apartments in One Hanson are going for $650 a foot

http://corcoran.com/property/listing.aspx?Region=NYC&ListingID=873264

That's a damn good deal by any measure. In 10 years this will be one of the best places to live and those prices will have skyrocketed. Meanwhile though, you have to deal with the construction and the chance that AY will be a complete disaster. That, and the fact that there's a lot of other things available explains why things are slow at One Hanson. And also, both these apartments directly face all the new construction, and so suck balls.

Posted by: Anonymous at May 16, 2007 1:31 PM

$650-1000/square foot ... A-Y-E my A-S-S

Posted by: Anonymous at May 16, 2007 2:09 PM

What are the carrying charges?
This building has an enormous expanse of exterior masonry. Local Law inspections will mandate repairs immediately. That's the only drawback I see with this.

Posted by: anonymous at May 16, 2007 2:20 PM

$650-800/sf I can see... but that 1BR is still over $1K/sf, and it doesn't make any sene to me. Granted, it's a piece of Brooklyn's history, and the views tend to be great. But the fact remains that walking out of that building onto the corner of Hanson & Ashland (& Flatbush & 4th & Atlantic). I'm just talking about the pure sensory experience: at the convergence of three major automobile thoroughfares and on top of the city's third-largest transit hub, it's a traffic- and pedestrian- clogged nightmare, very loud and very smelly.

Now if they simply moved the residential entrance over to Ashland Place, or (probably impossible) sent a corridor over to St. Felix Street, it would change things consierably, and make it much more attractive to this potential buyer.

Posted by: Anonymous at May 16, 2007 3:48 PM

ATLANTIC YARDS EFFECT = $$$$ FOR HOMEOWNERS

Posted by: Anonymous at May 16, 2007 4:06 PM

When the lucky owners are looking out their windows at the large trashy Arena, surrounded by fried chicken joints, strip clubs, parking lots and honking traffic they will be able to reflect on the AYE at leisure.

Posted by: Anonymous at May 16, 2007 4:27 PM

Posted by: Anonymous at May 16, 2007 4:28 PM

besides the bank, what else used to be in this building? offices - public/municipal and private? Amazing that this is now real estate property

Posted by: Anonymous at May 16, 2007 5:04 PM

I agree with the "bullish" sentiment. This is a gorgeous building in an area that's soon to be booming. Plus, you can walk to get fried chicken!

Posted by: Anonymous at May 16, 2007 5:09 PM

"When the lucky owners are looking out their windows at the large trashy Arena, surrounded by fried chicken joints, strip clubs, parking lots and honking traffic they will be able to reflect on the AYE at leisure."

OMG...THIS is what it's going to be like??

where? i want to move in!!!!!

Posted by: anon at May 16, 2007 5:21 PM

If I'm living in a 2 story house next to Atlantic Yards I'm bummed because because the scale and character are so ridiculously different.

If I'm living on an upper floor of the Williamsburg Bank building I'm into Atlantic Yards becuase its bringing me things to do.

Posted by: Anonymous at May 16, 2007 6:08 PM

Typical AY opponents melodrama. I like the possibility of strip clubs, though.

Posted by: Anonymous at May 16, 2007 6:08 PM

in time it will be a nice place to own especially if you have a view but for the next 5 years there are still better options I think.
The apartments are not all that, the "home offices" are another way of saying "featureless windowless airless room", the bedrooms are smaller than I expected. The maint and taxes are either large now, or will end up being large over time as the abatements ease (I forget which). Lastly, but not least, you are in a disgusting island of chaos and traffic and dust which is fine if you love your view and your apartment but leaving it three times a day and seeing the tree-lined streets out of reach would just make me wish I'd purchased a chunk of real estate on a nice block (or at one brooklyn bridge park!)

Posted by: Anonymous at May 16, 2007 8:04 PM

http://corcoran.com/property/listing.aspx?Region=NYC&ListingID=873264

$650 a sq ft? Measure it out..
150+360+187+150(kitchen/foyer)+150(wic/ensuite) = 997
(I am being generous and rounding up every x and y dimension to nearest foot)

997 @ 858k = $860 a sq ft! and you still have hefty closing costs (paid by buyer), to push that to 900 a sq ft..

then there is the $1300 a month in maint+taxes.. over $1.50 a (real) sq ft..

Posted by: Anonymous at May 16, 2007 8:10 PM

Wait a minute: What are the apartments like? Does anyone have any opinion, feedback on the actual layout, light, height ceilings, finishes etc. . of the apartments? I might have missed some major thread about this that was already up, if so, ignore me.

Posted by: Anonymous at May 16, 2007 8:28 PM

The apartment layouts are very tight. There is not a lot of space.
But for us old brooklynites the building is all about going to the dentist. Too many root canal ghosts in those old walls, i doubt I would ever feel comfortable.

Posted by: anonymous at May 16, 2007 9:23 PM

"But for us old brooklynites the building is all about going to the dentist. Too many root canal ghosts in those old walls, i doubt I would ever feel comfortable."

true and truly funny

Posted by: Anonymous at May 17, 2007 1:50 AM

I thought we had gotten rid of all the "old brooklynites."

--- just kidding ---

Posted by: Jim at May 17, 2007 9:14 AM

Jim:
Ha! You wish.
We old Brooklynites can eat you tender pups for breakfast. Watch out.

Posted by: anonymous at May 17, 2007 11:06 AM

I've been to this building and don't think that the majority of the apartments will have any of their views blocked by the AY project. The apartments on the south side of the building have views of the statue of liberty and down 4th avenue. Its my impression that the yards are further north and east, thus not in eye sight.

Posted by: Anon at May 17, 2007 11:38 AM

My husband and I purchased a condo in One Hanson overlooking Fort Greene. The view is absolutely gorgeous and we paid about $720 sq/ft.

Between being in this building, the AY development, and the accessibility with respect to Manhattan, the prices are only going to skyrocket over the next 10 years.

My opinion is that the only people bitching about One Hanson are those people too poor to afford a place. :)

Gentrification baby!! :D

Posted by: Anonymous at May 27, 2007 12:38 AM

I agree with anonymous the view of Fort Greene is beautiful. I can't afford it, but I'm not bitching because my nephew bought it.

Posted by: guest at April 13, 2008 4:27 PM