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September 27, 2007
Greenwood Hill View-Killer In The Works?
We first looked at the Greenwood Hill Condos on 23rd Street in Greenwood Heights back in 2007 and gave them points for at least trying to be contextual (while doubting the appetite for $600,000 one-bedrooms in the area). Since then, only 19 out of 32 units in the four-building complex have been spoken for. That hasn't dampened the developers' enthusiasm for the location however. Back in July, they picked up the modest frame house at 312 23rd Street, next door to their original project, for a reported $925,000 (see ACRIS). So far, they've completed the asbestos abatement (hence the log cabin look for what was once white-shingled building) and demo, we hear, is slated for October. We're not sure how big a building is in the works since nothing's been filed but feel sorry for those buyers of Greenwood Hill units who views over 312's back yard of NYC and the Statue of Liberty could be hurt by a new development on the site. Update: Speaking of real estate south of the slope, check out the puff piece in today's NY Post.
Listings [Greenwood Hill] GMAP
320-321 23rd Street [Streeteasy]
313-314 23rd Street [Streeteasy]
Frank Castelluccio's Listings [Corcoran]
New Development: Greenwood Hill Condos [Brownstoner]
Condo Buyers Not Biting in Greenwood Heights [Brownstoner]
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Comments
I looked at this place in July. The construction is crap: very shoddy details and bad layouts. It was astonishing how cheap this building looked on the inside.
The realtor was very upfront that the building's west elevation (windows and roofdeck views) could be obscured by new, taller development, but also says that it's "unlikely". So anyone buying there should know that a taller building next door could be a reality. Realtor neglected to mention that the developer was buying the neighboring building.
Posted by: guest at September 27, 2007 12:20 PM
Guest 12:20pm said: "(windows and roofdeck views) could be obscured by new, taller development, but also says that it's "unlikely""
Isn't that really the crux of the issue here?
Seems like a shitty bait & switch by the realtor (no matter how frank he/she was) and especially the developer.
Pay big bucks for a views from lot-line windows (walked by the buildings the other day, an anomaly with the new condos in the area) that now may get covered with a new adjacent property.
I'd be very pissed off.
But, I guess views, light and air are not for sale in our fare City.
They will at least have Green-Wood across the street.
Posted by: Action Jackson at September 27, 2007 12:42 PM
Poor sweet little log-cabin house. Reminds me of Anna-Nicole's baby: so small, so highly valued as an estate asset, so doomed by her greedy handlers.
Posted by: Brenda from Flatbush at September 27, 2007 12:50 PM
The square footage is deceiving. There are no closets in any of the rooms, so factor that into space lost. Very small for the price and location.
Posted by: guest at September 27, 2007 1:01 PM
It's especially comical when you consider you can get a whole house 50 blocks south for an extra $200K.
I'm sorry, but if I have to take a car to get to the fun stuff in Park Slope, I might as well live an extra 10 minute drive away.
Posted by: guest at September 27, 2007 1:16 PM
Yes, when I see poor little houses next door to new developments it always reminds me of the Bugs Bunny episode where he didn't want to give up his hole so the big skyscraper was built around it.
Posted by: 1910 at September 27, 2007 1:38 PM
Is this in Queens?
Posted by: guest at September 27, 2007 1:40 PM
Action: To follow up on what you wrote, if someone's willing to pay big bucks for a view that might be obscured very soon after purchase, then I say that this buyer deserved what he/she got. Maybe that's why people weren't buying here at the July '07 prices. The developer clearly priced these places as if they have a nice view, but also clearly stated that this view might go away. Seems like many people WEREN'T foolish enough to buy into the scam.
Posted by: guest at September 27, 2007 1:46 PM
Brenda from Flatbush - That was great.I nearly passed hummous through my nose.
Anyhoo, I've walked past this building a couple of times and it looks craptacular. One of the weirder features of the street-level units is the skylight that is open to the subterranean "rec room." It's right at passerby peep-down level.
And yeah, what's up with the floor plans? I'm not seeing any closets at all.
Posted by: guest at September 27, 2007 2:05 PM
guest 1:46pm
Guess everyone is becoming a more educated consumer, trial by fire unfortunately.
Who the heck knew the zoning issues in South park Slope before moving there, as an example, if you were not a developer, builder or worked for DOB or CPC.
With the demographic leaning towards young-first time buyers, I bet we see a lot more of this going on. Unless they start reading this blog, LOL.
Posted by: Action Jackson at September 27, 2007 7:09 PM
Is anybody actually buying South Slope condos? They don't seem to be flying off the proverbial shelves at any of the various new developments.
Posted by: guest at September 28, 2007 1:44 PM
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