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October 1, 2007

Condo of the Day: 20 Bayard Street, Cuts and All

20bayard0907.jpg
How are sales going at McCarren Park's 20 Bayard Street? Well, it's a little hard to tell. If you look on Douglas Elliman or StreetEasy, you'll see mention of a total of 25 apartments, 17 of which are shown as being in contract. But if you look at DOB records (and use a little common sense—the building's 18 stories after all), you'll realize that this represents only about 40 percent of the inventory. So while we prep for the inevitable next wave of listings to hit the market, an effort's being made to move the existing seven units that have yet to sell. Which is why, for example, a 1,296-square-foot three-bedroom was just reduced from $1,175,000 to $1,050,000. Think it'll move at that price? Anyone know when the next wave is coming?
20 Bayard Street 3BR [Douglas Elliman] GMAP
20 Bayard Street 3BR [Natefind]
20 Bayard Street [StreetEasy]
Photo by dluther




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People pay a million bucks to live in a glorified dormitory?!?

Posted by: guest at October 1, 2007 12:58 PM

thats nothing - some people pay 2 million bucks to buy a brownstone and then they have to move lodgers in upstairs to pay their mortgage! Its like running a boarding house. I can't imagine living with strangers in the same house.

Posted by: guest at October 1, 2007 1:10 PM

How many people have boarders? like 5? What exactly are you talking about?

If you are talking about renters...you are in the wrong city. There are lots of those here, and yes, lots of people don't need 4000sf all to themselves and rent out some of it.

You're one of those people that like to say something negative about everything, aren't you?

Posted by: guest at October 1, 2007 1:18 PM

No

Posted by: guest at October 1, 2007 1:18 PM

no

Posted by: guest at October 1, 2007 1:19 PM

New tax bill

Last month, Reps. Robert Andrews, D-N.J., and Ron Lewis, R-Ky., introduced HR1876, the Mortgage Cancellation Tax Relief Act of 2007. This bill would eliminate the tax on cancellation of debt income on primary residences, with some limitations.

The tax relief would apply only to "principal residences sold by their owners," not to rental property (which are subject to separate laws) or to vacation homes, according to a fact sheet on the proposal.

"As drafted, the provision will apply to either an original or a refinanced mortgage (regardless of whether it was recourse or nonrecourse), but only up to the amount of the original purchase price of the property" plus the cost of improvements, the fact sheet says.

In other words, if you used a home equity loan to improve your property and defaulted on the debt, you would not be subject to cancellation of debt tax. But if you used a home equity loan to pay off credit cards or take a vacation, you would be, says Linda Goold, tax counsel for the National Association of Realtors.

Hey Dumbasses,
Pray to GOD This don't pass. If this bill goes thru, people WILL walk away from their houses.

BTW Citi Group and UBS Had to write down 3rd quarter profits. If you think that things are ok, you are a clueless asshole!

http://www.bloomberg.com/apps/news?pid=20601087&sid=ayxRAeLa.TfU&refer=home

Posted by: The What at October 1, 2007 1:23 PM

yes, seen crazy brownstones where the top 2 floors are rentals and the parlor floor is all broken up with some little kitchen and the bedrooms are shoved downstairs. lots of people are buying brownstones they don't have quite enough money to maintain or live in all themselves, and lots are not 4000 sq feet either.

a beautiful new condo with sweeping views and amenities is not crazy. and wtf with the dormitory comment? it's all couples and families and rich adults moving to these condos in williamsburg idiot. you think its kids right out of college moving into all these apartments?

Posted by: guest at October 1, 2007 1:24 PM

"BTW Citi Group and UBS Had to write down 3rd quarter profits. If you think that things are ok, you are a clueless asshole!"


yeah, so bad that the dow is up 170 points so far today for a record high.

you need to do a little more reading of articles and not just the headlines, buddy.

the news today was that while 3rd quarter profits were down, they expect 4th quarter to be back to normal and they also said they believe the worst of the credit crisis is behind us.

try reading one of those articles next time you extract shit from it.

Posted by: guest at October 1, 2007 1:28 PM

"it's all couples and families and rich adults moving to these condos in williamsburg idiot."

OOOH...sounds thrilling!! So Williamsburg is dead.

Thought so.

And yes, lots are rich 20 somethings.

Ever been to Brooklyn, bud?

Posted by: guest at October 1, 2007 1:29 PM

Hey, 1:24...I mean broker for twentybayard...

Did you know this website is called BROWNSTONER?

I think you're lost.

Curbed is over that way...

Posted by: guest at October 1, 2007 1:31 PM

hey 1:29

thrilling or not - who cares? wasn't the point. and, for now, the burg sure as shit has better night life and shopping than any other brooklyn hood if you are simply talking cool factor. BUT IRRELEVANT.

own a million $ plus condo in williamsburg in a complex with about 60 apartments, and know others buying in the area, so i know first hand who the hell is buying expensive apartments in the burg. just saying that it is definitely not a dormitory. majority of buyers are couples, and as I said a few rich 20 somethings. in our complex, only three 20 something ish single owners.

ANYWAY, only pointing out that not everyone wants to squeeze into a couple of crappy brownstone floors....

resonding to previous post bud. so whatever....

Posted by: guest at October 1, 2007 1:37 PM

"BTW Citi Group and UBS Had to write down 3rd quarter profits. If you think that things are ok, you are a clueless asshole!"


yeah, so bad that the dow is up 170 points so far today for a record high.

you need to do a little more reading of articles and not just the headlines, buddy.

the news today was that while 3rd quarter profits were down, they expect 4th quarter to be back to normal and they also said they believe the worst of the credit crisis is behind us.

try reading one of those articles next time you extract shit from it."

Yeah Fuckjuice, I read what I post!
BTW The Dow is up because it's called a 'Suckers Rally'! The Big Boys are ramping the Dow and at 3:00 PM They dump!
How the Dow can be up on the Citi and UBS news huh???!!!
Pay attention Asshole!

Also If I was you (THANK GOD) I would check my 401k, Pension or other investments to see if the Mortgage shit is in there!!! Stupid!
October is a VERY BAD MONTH for this kind of shit!

Plus please don't let me be right! I will smear this shit in all your faces!

Someday this war is gonna end.....

Posted by: The What at October 1, 2007 1:38 PM

Isn't this the building that had to apply to the Board of Standards and Appeals for an extension of time for the building permit? I have no experience with this type of application; is it mostly a formality? Or is there real risk to people in contract or considering purchasing a unit?

Posted by: g man at October 1, 2007 1:43 PM

"thrilling or not - who cares?"

You said it all and summed up why a lot of people hate Williamsburg.

I do happen to care what the neighborhood I live in is like.

You see it as a money making machine.

That's the difference and why Williamsburg has completely lost it's soul and why so many of the people who made it an artist enclave have left for greener pastures.

If not, this piece of shit would have sold out a long time ago.

People are onto it. This new construction crap in Williamsburg is gonna be on the market A WHILE...

And p.s. I don't actually think that Williamsburg has the best shopping or dining options in Brooklyn. I like other foods besides mediocre Thai from time to time.

Posted by: guest at October 1, 2007 1:44 PM

These new condo developments are really all starting to look the same: same stainless steel kitchen appliances; same trendy bathroom fixtures that will look SO dated in another decade; same Fresh Direct fridges cuz there's no actual shopping available nearby; same gyms nobody will use. But yes, let's spend millions, folks, just to stay in this fabulous city!

Posted by: Park Sloper at October 1, 2007 1:54 PM

What is the deal with The What? I am getting the sense that he is actually mentally ill. Either that or just a seriously fringe personality. But someone said he is a mortgage broker? That to me is disturbing.

Posted by: guest at October 1, 2007 1:59 PM

I don't mind paying a million bucks for something special to stay in this fabulous city.

But not for this thing.

It looks like it's leaning. And that whole McCarren Park scene is pretty ridiculous on the weekends.

More like the inside of one of the tents at Fashion Week...it's not a park.

Posted by: guest at October 1, 2007 1:59 PM

BESIDES the fact that only in real estate world are any of these condos actually in williamsburg. the zip code of 11211 is technically greenpoint, and this is the zip code of 20 Bayard. so go ahead and pay $1M for your new apartment in greenpoint. doesn't sound so nice, does it?

Posted by: guest at October 1, 2007 2:08 PM

"Yeah Fuckjuice, I read what I post! BTW The Dow is up because it's called a 'Suckers Rally'! The Big Boys are ramping the Dow and at 3:00 PM They dump!
How the Dow can be up on the Citi and UBS news huh???!!!"


Now it's up 197 points.

Where's the "DUMP" "FUCKJUICE"???


Posted by: guest at October 1, 2007 2:17 PM

So a million bucks to live on top of an oil spill in Greenpoint, Brooklyn...with only rich couples and families???!!!

I'll pass.

Posted by: guest at October 1, 2007 2:18 PM

I love how a new development condo in williamsburg, no greenpoint, can drive people to refer to each other as "FUCKJUICE"

Can someone smell tulips?


Posted by: guest at October 1, 2007 2:23 PM

well, technically, the oil spill is located elsewhere, but it still shakes up the idea of the cache of Wburg.

Posted by: guest at October 1, 2007 2:26 PM

The What
Today's Market - a Sucker's Rally? I guess you should know.

Posted by: guest at October 1, 2007 2:26 PM

Actually 11211 is Williamsburg. I lived for years on Havemeyer btw hope and grand, which is smack in Wburg, with that zip code.

and no one is being driven to call each other fuck juice except what, who is crazy.

Posted by: guest at October 1, 2007 2:28 PM

ok fine, williamsburg. call it whatever you want to call it...it's still total crap.

this place missed the mark. just face it.

Posted by: guest at October 1, 2007 2:32 PM

2:32... check it out:

http://www.health.state.ny.us/statistics/cancer/registry/appendix/neighborhoods.htm

Posted by: guest at October 1, 2007 2:41 PM

20 Bayard is having trouble selling. They were quoted in a certain magazine as being 60% sold out however that figure includes a bulk sale of around 14 units that they are trying to pass through. Don't believe what they have on their website. It's just another way to lie. Their brokers lie. The developer lies. Don't believe the hype!!

As for what an apartment is worth...it's worth whatever someone pays for it on the day it sells. Period. Everyone else who thinks they are a real estate analyst can shut the fuck up! If you were so clever and all knowing, you'd be sitting pretty on the balcony of your penthouse somewhere, not jumping on blogs to trash talk developments you can't afford.

No. I'm not a broker.

Posted by: guest at October 1, 2007 2:47 PM

what is your point, 2:41?

it lists both williamsburg AND greenpoint as 11211

and i said it doesn't matter, it's crap.

crap is crap.

Posted by: guest at October 1, 2007 2:48 PM

well that list is incomplete- I had a 11211 zip in wburg. although where these condos are as far as I know was always considered greenpoint.

Posted by: guest at October 1, 2007 2:48 PM

my point is that if you listed this monster as being located in greenpoint, it would change everything. the hype about living in wburg is just all hype. but hey, at least you are closer to the new sewage treatment nature walk. how romantic.

Posted by: guest at October 1, 2007 2:53 PM

not every new development is in greenpoint or on an oil spill.

who says everyone hates williamsburg? i live there as do many friends, and i love it. my place is gorgeous.

what is everyone talking about? have any of the haters ever been to anyone's new condo in williamsburg? i real, lived in one? i don't think so....

Posted by: guest at October 1, 2007 3:04 PM

Yup, been in a couple.

They look as though they were built by children.

Baseboards that aren't lined up, crooked floors, seams showing on the wallboard, rusting patio railings. Pretty bad. This one is supposed to be one of the worst.

I have a bunch of friends in Williamsburg too. All of them have said how the neighborhood is changing and that they no longer enjoy it. One has left for Prospect Heights, another for Bushwick and one for Park Slope.

Glad you enjoy it though. People like different things.

Posted by: guest at October 1, 2007 3:08 PM

Williamsburg is for those who were priced out of Manhattan.

The rest of Brownstone Brooklyn is for those that truly love Brooklyn...in a lot of cases more than Manhattan.

In terms of creating an enjoyable vibrant community to live in, I much prefer the latter.

Posted by: guest at October 1, 2007 3:10 PM

i used to love williamsburg. i live in greenpoint, and used to like it there, too. now i can't afford either place. that's why we hate the new condos. oh, and the fact that they are hideously ugly to look at from the ground.

Posted by: guest at October 1, 2007 3:11 PM

Hey The What - Almost 3:30, still waiting for the "DUMP". I took short positions on this stuff based on your advice and now I am getting burned....

Posted by: newsouthsloper at October 1, 2007 3:24 PM

Where's the sell-off, the what?

It's 3:30 and up 198 points.

You not gonna fess up if you're wrong?????

Posted by: guest at October 1, 2007 3:26 PM

3:08pm

i asked has anyone been in a MOVED in, someone actually lives in it, condo, not one you saw that was being shown to sell. you do a punch list, etc.. when you go to close and a lot gets handled.

and cannot believe that you have been in every development in Williamsburg in any case. i looked at many really terrific apartments before buying one.

do your friends who are moving own or rent? probably rent.

in any case, my place is striking, beautiful. not everything sucks.

3:10pm

think before you say that williamsburg buyers are all from manhattan you should have some sort of hard facts on that. i've been in brooklyn for 10 years, my upstairs neighbors for 3 years (they were in LA before that) and the couple on the 3rd floor had been in williamsburg for 7 years. We all bought last year. Also friends with a couple in a condo building two buildings over that have been in williamsburg for close to 15 years and own 3 bars in the neighborhood. my next door neighbor has lived in the burg for ever and owns a store in the area. we are all well over 30 and of these 5 couples mentioned 4 have children. the realities of who is buying condos in the hood are not the same as the fantasies presented in some of these posts.

think that i am one of just a couple of people posting here who actually owns in williamsburg and the rest of you are speculating.

Posted by: guest at October 1, 2007 3:27 PM

"think that i am one of just a couple of people posting here who actually owns in williamsburg and the rest of you are speculating."


And you are not at all biased though, right?

We should take what you say at face value, because there has been no mention of a glut of new condos in Williamsburg, very shoddy building practices and a huge amount of lying by the developers of 20bayard about how many units have and have not actually been sold.

None of your comments on a blog mainly about brownstones in brooklyn wouldn't have anything at all to do with the fear that your newly purchased condo is depreciating as we speak??

No, didn't think so.

You just wanted to tell us how much you love it.

Riiiiiiiight.

Posted by: guest at October 1, 2007 3:34 PM

"asked has anyone been in a MOVED in, someone actually lives in it, condo, not one you saw that was being shown to sell. you do a punch list, etc.. when you go to close and a lot gets handled.

and cannot believe that you have been in every development in Williamsburg in any case. i looked at many really terrific apartments before buying one.

do your friends who are moving own or rent? probably rent."

i'm curious why it's ok if you speculate...

these were LIVED in friends homes that looked like shit. even they thought so.

and yes, out of the maybe 5 friends in williamsburg i had, those three i mentioned OWNED their places.

the other two rent, and are looking to leave the neighborhood because of expense and what they describe as a mass exodus of everything that was once cool about williamsburg.

Posted by: guest at October 1, 2007 3:40 PM

"People pay a million bucks to live in a glorified dormitory?!?"

Doesn't this question apply to every single apartment in New York City?

If you want to live in NYC (in or near the center- Manhattan) and your only rich (not filthy rich) your only choice is an apartment.

Oh I know its b/c its "new" and you dont like that

Posted by: guest at October 1, 2007 4:05 PM

Nothing to do with new nor being an apartment. Lots of beautiful OLD dormitories.

It's the make-up of the buildings. Lots of loud, rich 20 somethings who have their parents pay their way.

And some of the others will be renting out in no time. These buildings...the ones I've been in anyway feel very transient.

Not unlike a dormitory. That's all.

Posted by: guest at October 1, 2007 4:10 PM

3:34pm

whatever...do not think that my place will lose value. i plan on living with my family in this apartment for a long time. this is why i moved. not a flipper. took almost 2 years to find this place. it is the result of a lot searching and evaluation. have lived all over brooklyn and very familiar with many of the neighborhoods. could not be happier - sorry! williamsburg is totally amazing - all of it. and the commute - including walking home - is terrific! anyway, don't care what you think because i am not selling.

short of having a cocktail party to show off my stunning apartment, not sure what i can do.

i have never posted anything i don't really believe. maybe you do which is why you distrust others.

Posted by: guest at October 1, 2007 4:15 PM

"What is the deal with The What? I am getting the sense that he is actually mentally ill. Either that or just a seriously fringe personality. But someone said he is a mortgage broker? That to me is disturbing."

Yes I Am mentally ill.

"Now it's up 197 points.

Where's the "DUMP" "FUCKJUICE"???"

"Hey The What - Almost 3:30, still waiting for the "DUMP". I took short positions on this stuff based on your advice and now I am getting burned...."

Big Boy's are squeezing the shorts. No dump today but look out this week. Yes I was wrong about today, I'm not right all of the time. It's hard to gage a manipulated stock market. Plus the Dollar took a dump today. Gold is up 5.00 too.

Someday this war is gonna end......

BTW If you want to reply to me get a account punks!!

Posted by: The What at October 1, 2007 4:18 PM

You're right 4:15. with comments from the likes of "The What" I really should trust posters on an anonymous blog more.

Posted by: guest at October 1, 2007 4:21 PM

"I'm not right all of the time."

Try never.

:-(

Posted by: guest at October 1, 2007 4:22 PM

"No dump today but look out this week."

WAIT....Let me get this straight....you mean to tell me the market goes up AND down???!!!

NOOOOOO.....

God, You're a GENIOUS!!!!

Posted by: guest at October 1, 2007 4:25 PM

There is too much speculation as a whole given the new developments in and around McCarren Park. The views from 20 Bayard are stunning. Go see for yourself. I've been looking around wburg for the last 5 years and can't wait to move into this new development. The perimeter of the park is going to appreciate in value over the next few years. And to add....I'm not a 20 something hipster.

Posted by: guest at October 1, 2007 4:29 PM

yea 1.18, renters, boarders, whatever you want to call them. Still strangers living in your house.

Posted by: guest at October 1, 2007 4:42 PM

THE RATINGS GAME
Citigroup upgrade lifts home-builder stocks
Analyst sees signs of near-term bottom, boosts ratings on large-cap names
By John Spence, MarketWatch
Last Update: 12:22 PM ET Oct 1, 2007

http://www.marketwatch.com/News/Story/Story.aspx?column=The+Ratings+Game

This the reason why we had a 197 point gain today. 2 stories one Real Fucking Bad and the others bullshit.
The dumbasses went for the bullshit. Citi and UBS had to write down Billions of dollars! The is a Wyle E Coyote moment! Gravity is calling!!!!

Posted by: The What at October 1, 2007 4:45 PM

you need to head for the burbs, 4:42.

you sound scary.

Posted by: guest at October 1, 2007 4:47 PM

Did you miss the part where it says NEAR BOTTOM?

Do you know what that means???

Yup. You've missed the boat again.

Posted by: guest at October 1, 2007 4:49 PM

Titanic?

Posted by: guest at October 1, 2007 5:26 PM

Sorry, I agree with 4:42. It is what it is.

Posted by: guest at October 1, 2007 5:27 PM

4:42 = 5:27

Posted by: guest at October 1, 2007 5:38 PM

you need to check your math

Posted by: guest at October 1, 2007 5:44 PM

Is it just me, or does 20 Bayard look a little like one of the droids from Star Wars?

Posted by: guest at October 1, 2007 5:51 PM

I used to live on Bayard street and it is in Greenpoint. Get over it please. Also, that building is rediculously UGLY! And the park (where I used to run every day), is so busy now it's like a mob scene after work hours and on week-ends. It also DOES have a dormatory feel, the whole strip of new condos on Bayard do. But I also must say, it might be nice to have a penthouse apt in that building, the problem is that I couldn't live with myself for spending the silly amount of money it would take to live there. Brooklyn is filled with lots of far better places to buy.

Posted by: guest at October 1, 2007 6:47 PM

One more thing. During the time that I lived in a house on Bayard street we had our plumbing replaced. When we chopped down the old plumbing and took a look at it there was black calcinated sludge caked inside the pipe - it was hard black oily substance. The pipe was a large industrial sized pipe, probably about 1" pipe, but there was so much gunk build-up on the pipe that the actual unobstructed pipe size was about 1/2". I am positive that this was oil buildup. I don't know if things have changed in the area or what but I would strongly advise anyone who lives there to only drink bottled water. Consuming oil is toxic.

Posted by: guest at October 1, 2007 7:56 PM

20 Bayard is not the droid I'm looking for.

Posted by: guest at October 1, 2007 8:06 PM

even on brownstoner, it's categorized under both williamsburg and greenpoint....

Posted by: guest at October 1, 2007 8:20 PM

I'll tell you one thing, when AY is built, this piece of trash will be worth about as much as a munge-stain on your momma's panties.

Posted by: guest at October 1, 2007 11:30 PM

I am a big Williamsburg fan. I grew up in Brooklyn and I am one of the few people on this site who seems to think all of this development and "gentrification" is a good thing. Williamsburg in particular has grown so much in the past 5 years. Restaurants, bars, boutiques, galleries, new people, etc. I think that is all pretty exciting.

I happen to not be a fan of this particular building. It just doesn't appeal to my personal taste, but I'm guessing the view is great and its a cool location. So I could understand why people would want to be here. I personally would go for one of the buildings that will come up right on the waterfront at Kent. That whole stretch is going to be incredible within the next 3 - 5 years and that is truly exciting. It has been such an eyesore for such a long time. It's about time people are starting to tap its potential.

Posted by: guest at October 1, 2007 11:42 PM

gREAT PLACE TO TO LIVE IF YOUR WANT TO GET YOUR ASS KICKED BY STREET TOUGHS

Posted by: guest at October 2, 2007 10:53 PM

did you see there website. its amazing
www.twentybayard.com

Posted by: guest at December 19, 2007 9:27 AM

in regards to the oil spill
well the enite area till the water frnt had a oil spill and i would rather live in a new buildingwhere the oil was cleand up.
all those buildings are coded by the DOB as E
and that means that has to pass a enviromental inspection by the DEC

Posted by: guest at December 19, 2007 9:33 AM

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