Development Watch: Smith N Court, Part 2

Since we first discussed the development known as Smith N Court at 52 Dean Street, the building's facade has changed color and most of the brickwork has been put into place. No price information has been added to the website so all we have to go on is the email tip we received back in April which said that the triplex townhouse was asking $2,725,000 and that the cheapest apartment was asking $610,000. The person who answered the phone at the sponsor's office confirmed they were already in sales mode but no one ever got back to us to give us more color. Based on the floorplans (which are available on the website), the layouts look pretty nice. The two-bedrooms in particular (which range in size from just over 1,000 square feet to just under 1,600 square feet) have nice layouts. Other than that, we don't have a lot to go on. Do you think this looks promising in general? Has anyone have more info on the pricing?
Homepage [Smith N Court] GMAP P*Shark DOB
Smith N Court Blows Its Load [Brownstoner]
Smith & Court Condos [Set Speed]

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you can see some on brooklynbridgerealty.com site

they say $610k to $2.8M.

example with floorplans #4E - 776sq ft, $650k, $220cc,$50tax

Posted by: Anonymous at June 11, 2007 12:12 PM

I called the broker and was told that the cheapest they have is a one bdrm for 610K.I think the prices are ridiculous based on the pics.

Posted by: anon at June 11, 2007 12:22 PM

For those prices I would buy in Morningside Hghts and Harlem.

Posted by: anon at June 11, 2007 12:25 PM

The old floorplans had sq. ft. for each room - they don't appear to anymore (at least on the plans I looked at just now). I seem to recall that the numbers indicated that the rooms were in fact much smaller than it would appear simply from the drawings themselves.

Posted by: EJ at June 11, 2007 12:26 PM

12:25, why would you rather buy in Morningside Heights or Harlem? Just to say you live in Manhattan?

I agree with everyone that these condo's are overpriced (can't speak to the quality) but you can't argue with the neighborhood. It's much nicer and closer to everything in Manhattan south of Midtown than either of the hoods you mentioned.

Posted by: Anonymous at June 11, 2007 12:35 PM

went to the open house a coupld of weeks ago - after a 45min wait in line we left and never got to see the condos.

Posted by: had to wait at June 11, 2007 12:52 PM

Looked at the 'townhouse' which is 2.725 + 70k for a parking space. Has a decent amount of outdoor space but feels boxed in (and due for more development other side of Dean St). Despite wall of windows all the way up from 'basement terrace' (which at least brings some natural light and ventilation in) a third of the space is below grade yet package is priced comparable to harbor views in 360 Furman. This unit also gets nailed for the highest common charges despite getting the least utility from what is budgeted for.

Posted by: no cigar at June 11, 2007 2:43 PM

I did the tour - space still very raw but good layouts and nice terraces in most units - parking price is plain crazy - and finishes didnt look great either from the display they had - no model was ready when I went a month ago

Posted by: K at June 11, 2007 4:01 PM

If parking costs $400 a month ($4,800 per year) that is enough to service $75K of mortgage (@6.50%), so you can make a case that the spot is worth it $70K.

Posted by: Anonymous at June 11, 2007 4:51 PM

yes, but often the case that there is a monthly CC and tax on the parking spot too. Don't know specific of this offering though.

Posted by: Anonymous at June 11, 2007 5:27 PM

Crazy over priced units for noisy heavily commuted street.

Pushy obnoxious sales agent.

70,000 for a parking spot is outrageous!

Posted by: anon in B>Hill at June 11, 2007 8:52 PM

Crazy over priced units for noisy heavily commuted street.

Pushy obnoxious sales agent.

$70,000 for a parking spot is outrageous!

Posted by: anon in B.Hill at June 11, 2007 9:02 PM

That block has so much traffic, from everyone coming down Brooklyn Bridge Blvd, it's the first place to turn east. It is friggin' NOISY. I hope these places have good insulation.

Posted by: usedtoliveonthisblock at June 12, 2007 12:10 AM

I went to see the units the first day that they open for sale. The units are nicely laid out and all units come with a storage space in the basement. Parking spaces are either $40K (uncovered) or $50K (covered). Overall the the developer is doing a nice job with finishes and several of the units are in contract

Posted by: JLWelger@aol.com at June 12, 2007 9:28 AM

I went to see the units the first day that they open for sale. The units are nicely laid out and all units come with a storage space in the basement. Parking spaces for sale seem a bit high, but when you do the math, they are within reason and add to re-sale value. Overall the the developer is doing a nice job with finishes and several of the units are in contract

Posted by: JLWelger@aol.com at June 12, 2007 9:41 AM

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June 11, 2007

Development Watch: Smith N Court, Part 2

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