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August 23, 2007
‘Shangri-La’ No Paradise for Buyers. Or Brokers.
Seems like two brokerages weren’t enough to get buyers interested in a newly constructed, but aesthetically challenged, Greenwood Heights condo building. Our pals at StreetEasy passed along a tip that there’s been a changing of the marketing guard for the colorfully named Shangri-La at 710 Sixth Avenue. Prudential Douglas Elliman is now handling sales for the development, replacing Brooklyn Properties and Brown Harris Stevens. Elliman has apparently shed the building’s name—it’s now more somberly listed as simply 710 Sixth Avenue—though there’s been no price chopping along with the other changes. (Surprising, given that none of the 15 units found a buyer over the last couple of months.) The apartments are still averaging around $600 a square foot, with the lower floor condos going for about $400 a foot and the upper-floor apartments asking in the $750-a-square-foot range. What's going on here? Could it be that people just don't want to pay up to live in an ugly, generic building?
710 Sixth Avenue [Street Easy] GMAP
Listings: 710 Sixth Avenue [Prudential Douglas Elliman]
New Development: Greenwood's Shangri-La (Not) [Brownstoner]
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Comments
I live near this monstrosity. It's not surprising that it hasn't sold any units given that:
- construction was shoddy
- the units still aren't finished
- the worksite is a mess
- on a daily basis, they are digging up and re-digging up the sidewalk and street in front of the building
- the building going up next to it had no work done on it for a year and became an eyesore
- the con ed substation is on the next block
All in all, I can't imagine what they were thinking when the built it.
Posted by: guest at August 23, 2007 1:13 PM
If the taxes are really $6,720 Per Month that's insane. Is that a typo?
Posted by: guest at August 23, 2007 1:20 PM
I don't think the exterior design is a big deal. People live in all the fedders buildings in the city, and honestly, compared to some of those, this is not that bad.
Posted by: guest at August 23, 2007 1:29 PM
I looked at a one bedroom in Fort Greene last week that was around the same price as the 6th Ave place. Although the FG place was slightly smaller, it had much more charm and is located better area.
525K for a one bedroom in the sloppy building, which won't age very well? This is about 200K overpriced in my opinion, especially if you compare what's available in more prime Brooklyn. But hey someone will buy it.....
Posted by: guest at August 23, 2007 1:33 PM
I looked at some units here: the construction is pretty shoddy, the layouts are not great, and your back balcony looks out over a paved lot. Unless you absolutely need new construction you could get nicer place in an older building for the same money. Maybe developers need to realize that they can't sell anything at any price just because it's in Brooklyn.
Posted by: guest at August 23, 2007 2:39 PM
If the 4 bed was 300,000 it would be fine.
shit I would buy that for 300,000
Posted by: guest at August 23, 2007 2:52 PM
um...4 room/1 bed
Posted by: guest at August 23, 2007 2:53 PM
"Maybe developers need to realize that they can't sell anything at any price just because it's in Brooklyn."
Here-Here!
Posted by: Action Jackson at August 23, 2007 4:47 PM
Maybe part of the problem is that the building's primary selling points, according to the written listing, is that it has a common roof deck (which you will use exactly once) and garbage chutes on every floor. (EVERY floor? Really?) Not that I don't wish *I* had a garbage chute. But still. Fugly fugly fugly--that's what you get, fugly-building builders!
Posted by: Rehab at August 23, 2007 4:52 PM
i go on my common roofdeck almost every day.
speak for yourself.
Posted by: guest at August 23, 2007 5:06 PM
All these crappy new buildings better start planning to rent.
Posted by: guest at August 23, 2007 5:21 PM
I *was* speaking for myself, guest 5:06. I find roof decks useless--both buildings I've lived in that had them were always empty, windswept, and full of huge pots with dead evergreen shrubs--because having to take an elevator up to your outdoor space renders it too much of a pain to be very valuable. More to the point, I think it's pretty sad that the broker can't think of anything more important to say about the property. Like, say, what features the APARTMENTS have?
Posted by: Rehab at August 23, 2007 5:52 PM
This development has numerous problems which can all be summed up by location; looking out over graveyard, looking at an empty parking lot, looking at a few fire burnt buildings, looking at an electrical transformer. There is only so much one can hide from their surroundings and these ones are god-awful. Plus, you are many blocks from transportation and shopping and prety much anything. Too much money for too little stuff. I saw what the developer paid for it compared with now, the profit hoped for and that too is the problem. A simple double your money might be good enough for some, but leave it to the super greedy to greed themselves out of even that. Now this property is overexposed, overpriced and not likely to capture any buyers.
Posted by: guest at August 23, 2007 6:47 PM
Hell, I live on the first floor of a walk up and have my own back yard and I still occasionally climb the stairs to chill on the roof -- and we don't even have a deck!
Posted by: sstrudeau at August 23, 2007 6:53 PM
August 23, 2007 6:47 PM
Neighborhood is not quite as bleak as you paint it. Kitty-corner to GREEN-WOOD CEMETERY (not any old bone yard) and yes, the rest of the block is so-so, bit not a reason to trash the area, especially with the rehab of the vibrant side blocks.
The building on the other hand, well, it trashes itself.
Posted by: Action Jackson at August 24, 2007 12:12 AM
Crap building on a ugly block. The cemetery is a welcome spot of greenery and quiet, but Shangri-La is also less than a block away from an electrical substation. And the last time I walked past, there was a burned-out building across the street.
On a positive note, the BarBQ place at 20th Street is awesome.
Posted by: guest at August 24, 2007 12:32 PM
Guys! I have looked at several projects in the neighborhood and was very impressed by this one. We love the south slope location; it’s a quite nook away from the hustle a bustle of a main street thorough fare. The quality of the finishes that this developer used is obviously of high quality ( have u priced any of these products?). Hopefully, this project sets the bar for others builders to follow with the quality and attention to details.
Posted by: guest at August 24, 2007 1:00 PM
Congratulations to the South Slope – this is just what we needed. A modern luxurious building with very nice finishes, hope other developers follow.
Posted by: guest at August 24, 2007 2:05 PM
I agree, this is truly a high end building with great finishes, lovely views, bright and spacious apartments, private and shared roof decks, elevator, etc. etc. I actually looked at the apartments and liked them very much, enough so that I have an offer in to buy one of the units. Change is good, enjoy it while you can!
Posted by: guest at August 24, 2007 2:06 PM
After looking at several projects in the Slopes, I cannot believe the extraordinary value provided at Shangri-La. Similar projects with fewer conveniences would be double in price just a few blocks away in the North Slope. This is actually very good construction, with beautiful high-end finishes. I can’t ask for a better location for my money and I wouldn’t mind living here at all.
Posted by: guest at August 24, 2007 2:06 PM
[sound of crickets]
Posted by: guest at August 24, 2007 2:22 PM
no comment on the building, but not using a roof deck?
what? I've had proper roof decks 2 different times, including now, and I used the previous one and this one all the time.
mine now is very clean and has amazing views of the city (from billyburg). there's a shared gas grill and tables and chairs.
what's not to like? when we have friends over, they love to hang out there.
Posted by: guest at August 24, 2007 3:03 PM
Boy, the shills for the developer really came out today didn't they ladies?
Posted by: Action Jackson at August 24, 2007 4:03 PM
Indeed. And with such subtlety. In fact I'd say they put the "b" in "subtle."
Posted by: guest at August 24, 2007 4:36 PM
word on the street is that its now 90% sold thanks to the curbed writeup!
hurry up!!! time is running out!!
remember its a LUXURIOUS building with BEUATIFUL HIGH-END FINISHES!!!
HAHHAHHAA!!!!!
ha
ha
ha-ha
-the bitter renter!
Posted by: guest at August 24, 2007 4:48 PM
I think brokers should be compelled to at least admit they are the ones posting on here for their own listings. Would make things more credible all around, eh?
Posted by: guest at August 24, 2007 8:38 PM
I’m no broker nor a disgruntle neighbor, I’m in the market to purchase my next home... I have shopped around, compared prices, finishes, living space, location, with all the competition in the area …I’ve found my ‘Shangri-La’. By the way, the view from the “common” roof deck is amazing. Check it out for yourself
Posted by: guest at August 24, 2007 9:59 PM
Speaking of disgruntle neighbor, I wonder if 4 flat tires’ has any thing to do with all the bad publicity..?? Gotten laid lately…let me guess… probably NOT!!!!!!
Posted by: guest at August 24, 2007 10:09 PM
9:59 -- you're brilliant. keep up the good work.
Posted by: pfa at August 25, 2007 3:36 AM
SO, 9:59, which unit did you buy? I just want to make sure I don't run over there only to be disappointed.
Posted by: guest at August 25, 2007 12:33 PM
9:59--Perhaps U need to consult your broker for that info.
Posted by: guest at August 25, 2007 2:43 PM
someone told me that even the people at elliman were making fun of this place.
these places aren't selling. do not be fooled.
Posted by: guest at August 25, 2007 8:23 PM
8:38 you are right, all those broker comments right in a row, blatant indeed.
Posted by: guest at August 26, 2007 2:33 AM
To Shill:
Try to be a little skillful in your planted comments, that's just pathetic!
Quote: "The quality of the finishes that this developer used is obviously of high quality "
okaaayyy
Posted by: guest at December 4, 2007 1:52 AM
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