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November 16, 2007
Price Cuts at Lefferts South

Looks like revamping the marketing strategy for Lefferts South wasn’t enough to jumpstart sales at the condo. Streeteasy is showing price cuts between $20,000 and $44,000 on five of the Caton Avenue building’s remaining nine units. When the building first started selling last February, apartments were asking around $500 per foot—prices that seemed fairly high for the neighborhood. Now that units are selling for slightly less—between $375,000 and $499,000—it’ll be interesting to see whether there’s more interest, and whether these prices impact what nearby developments like Caton Court are asking. Where's the bottom on this baby?
Brokerage Switcheroo at PLG Condo Project [Brownstoner] GMAP
2233 Caton Avenue Listing [Prudential Douglas Elliman]
New Development: The Oddly-Named Lefferts South [Brownstoner]
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Comments
I wouldn't pay more than 2 and change. I have a 4br coop in much nicer part of Caton that i paid 345 k for. ANd I don't think the value has increased all that much.
Posted by: guest at November 16, 2007 12:44 PM
probably more like $280 psf
Posted by: guest at November 16, 2007 12:56 PM
Wow, you paid 345K for a 4br coop? That means everyone who already purchased a condo at Lefferts South should feel very ashamed and foolish with your information, right?
Let me share with you all that I paid $100K for a 17 room WAREHOUSE in an even NICER part of Caton than yours. We have a friendly family of garden gnomes that fan us nightly as we fall asleep under the stars on our deck. We just finished our private walkway directly to the center of the park. We have an Olympic-sized swimming pool, our own coffee shop and fancy restaurant and our building's value isn't going up either, so beware all who read this!
Seriously, your post clearly designed to discourage or upset people is petty and ridiculous, "2 and change"...
Posted by: guest at November 16, 2007 1:18 PM
1:18 why such anger? I think eveyone agrees that those units are overpriced.
Posted by: guest at November 16, 2007 1:22 PM
The gnome part is precious.
Posted by: guest at November 16, 2007 1:29 PM
I was just noting that the "I bought... blah, blah, in a 'nicer' part" could be interpreted with a little extra and probably unnecessary snark on top.
It's a pretty nasty buyers and sellers market right now, and everything seems overpriced in this city -- esp. in Brooklyn.
In the end, if your home brings you joy and you can afford it, more power to you.
Posted by: guest at November 16, 2007 1:36 PM
it's overpriced. williamsburg was trading some units at $500 per sq foot.
this area is far and a bit scary.
Posted by: guest at November 16, 2007 2:37 PM
2:37.
Far is relative. For many people in brownstone Brooklyn Williamsburg, despite it's proximity to Union Square, is the other side of the world--you have to go through Manhattan to get there by subway :-)
BTW, although this condo isn't terribly far from PLG, it shouldn't be indexed under that category.
Posted by: Bob Marvin at November 16, 2007 2:51 PM
2:37.
"Scary" is also relative. I've been in that area a number of times on foot and by bike and never felt worried for my safety.
Posted by: guest at November 16, 2007 3:03 PM
I find that area scary too.
A lot of hair-trigger tempers and public
anger. Scary.
Posted by: guest at November 16, 2007 3:23 PM
to even pretend that this area is as desirable as williamsburg is silly.
there are no good services/restaurants/bars/cafes/stores/supermarkets etc...
and, this is not a brownstone, it's a condo, so why bring up brownstone brooklyn #2:37? And, apparently you think that there are no brownstones in williamsburg? or in greenpoint? not true, but whatever.
In any case, it is far to the city from Lefferts South. um, don't most people work in the city?
also, if you don't think that this area could be scary or dangerous to white people, especially a white woman on their own, then you are naive or very optimistic.
i have been held up more than once. i would never consider ever living near any poor black people again. not alone in that i am sure.
bottom line is anywhere near $500 per sq. foot for these condos is way too high based on comps on condos in better neighborhoods.
also, many people know that you can travel from south to north and back on the B61 or the G.
Posted by: guest at November 16, 2007 3:42 PM
I couldn't agree more with 1:36. Brooklyn isn't the easiest place to buy — if you can find something nice that you can afford than that's great. I think it's exciting to see some new developments popping up in the area and welcome those folks who are moving in.
Neighborhoods change...some of what are now the nicest and priciest areas of Brooklyn were once considered by some as "scary." This area has a lot going for it...transportation, proximity to the park, etc. - there is potential. I've been through that section of Caton and Flatbush many times and have never seen anything sketchy. It's not to say that you shouldn't be careful but you should be careful anywhere regardless of neighborhood. Two guys attempted to mug me in broad daylight in Williamsburg about a year ago...no place is immune.
Posted by: guest at November 16, 2007 3:50 PM
And by the way, 3:50, the two guys who tried to mug me in Williamsburg (a white woman) were in their 20's and WHITE. I currently live in a racially mixed, mostly black neighborhood and your racist comments are disgusting.
Posted by: guest at November 16, 2007 3:55 PM
1:18 - eat my asshole
Posted by: guest at November 16, 2007 11:28 PM
3:55 you can be white and as open to everyone as you can possibly be, but if you live in a mostly black neighborhood which i have done, you can't change what they think of you. obviously, anyone of any race can be a criminal, but i have experienced a great deal of hate directed at me because i'm white by poor black people (not black people i meet through work or the friends I have from school), but people who are pissed that you are there, or looking to jack you.
when a white person moves to a mostly black neighborhood, many black people just seethe at you. this isn't racism. racism is a preconceived notion. i'm talking about what really happens.
i lived in prospect heights for a couple of years and there was always a group of black male teens on the corner after dark. a day rarely passed by that they didn't harass my boyfriend. he survived it of course, but why put up with that? life is too short.
point is, not everyone is going to move to this area because they understand what i'm talking about and just don't want to add that stress to their lives.
i got robbed on park avenue in broad daylight on the upper east side. crime can happen anywhere in NY, but you won't experience racism directed at you for being white in a white neighborhood. let's not pretend that everybody is up for the challenge of moving to a poor black neighborhood.
Posted by: guest at November 17, 2007 12:09 AM
11:28.
Feel free to write crap like that on your own blog but not here.
Posted by: guest at November 17, 2007 9:49 AM
I think you're generalizing a little bit 12:09. I moved into what you refer to as a "poor black neighborhood" 7 years ago.
It's changed considerably over the years, but my neighbors have always been very pleasant. We don't hang out on a regular basis, and I rarely have had long conversations about anything other than "how are you today, nice weather, etc."
When one of my neighbors has a fish fry in the summer - and sell the sandwiches on their front stoop - they can count on me to buy one. In the morning on my way to work, I say "hi" to the people sweeping up the leaves in front of their stoop and they do the same.
My point is, they know me. I've taken the time to say "hello." Many people move into a neighborhood and live in constant fear of the surroundings instead of embracing them. Trust me, I don't think it's a perfect world and I know that all people are subject to racism from every side.
Every situation is different. However, you can't tell me if you respect your neighbors for who they are and what they do, say "hi" when you pass by, and don't act like you are afraid of everyone, that people are going to respond to your presence with constant muggings, hatred and violence. You are eventually going to become part of a community. I did.
Posted by: guest at November 17, 2007 10:07 AM
Exactly, 10:07. I've found the same thing. I greet people on the street in PLG if I meet someone's eyes, and when I do I always get a friendly hello in return. Also once the people in the shops get a read on me that I'm a friendly person, they respond with a lot of warmth. It's about what you put out there, to people.
The guys on the corners on Flatbush are in a culture where they feel they have to act cool or tough. Some might be truly tough-guys, I'm not so naive I think they aren't, but I also know it's an act for a lot of young men. I just walk past them like they're anybody else standing there. Nobody is trying to convince people they should step outside their comfort zone and move into a largely black neighborhood, if that's not the right thing for them. But if you're interested in buying a house for under $1.5 million, it would make sense to be curious to know what people think, who actually do own property and live long term (not just rent for a year with no real investment in the community) in a largely black neighborhood.
Posted by: guest at November 17, 2007 10:58 AM
One additional factor specific to PLG. Although there has been a majority of people of color for 40+, years there have always been a substantial number of white people living here[especially in Lefferts Manor and the surrounding blocks]. Therefore white people have never been perceived as being in any way unusual here. At least,that's been my personal experience over the last 33 years.
Posted by: Bob Marvin at November 17, 2007 12:17 PM
That depends 7:38.
Mine would be virtually nil; yours would depend on how many enemies you have and their penchant for violence.
Posted by: Bob Marvin at November 18, 2007 11:19 PM
I've been very interested in this development and have been itching to get over and see the apartments for a while. I called the broker on their website, who never showed up, and left me stranded in one of the worst areas I've been in a while (I used to live on Eastern Parkway and never had a problem), but here I got harassed by three different groups of dudes, granted it was just after school let out. Also, the pouch on my bike was ravaged through in broad daylight when I went around the corner.
The subway is a serious walk away, the map on Google seems almost absurdly off-scale and I was on my bike. Granted, the layout, price and finished on these apartments are enough to give me the vapours, but you couldn't pay me to live here. There is no food around, you have to walk by broken down cars to get to the supermarket (which was big and seemed nice) but there is nothing to do in this area except to try and make it to prospect park.
If you're intrigued about this units but are at all squeamish about seedy areas, don't even bother. I spoke to the receptionist at the dentist's office at the bottom of the building for a while and he said that the area was pretty awful, that there was nowhere to eat and to just stay out.
Please rebuild this building in Gowanus. K thnx.
Posted by: guest at June 3, 2008 3:58 PM
6/3- 3:58p- Holy Cow!
You are the biggest complainer I have ever seen.
I think you are one of those people that goes to work every morning and spends half the day complaining about how rotten the world is to you.
At the end of your post I was expecting to hear that by the time you had gotten home to whatever hipster, whitebread, stroller mafia neighborhood you live in now- your grannie had died and YOU BROKE A NAIL.
I think your opinion of the neighborhood was sullied by your super negative attitude. Which is what caused you to have such a negative experience in the first place.
If you stand there and act like you don't belong then that's how you will be treated. Try wiping that "fraidy cat" stamp off your forehead and start acting like you live in F$#king NYC.
Men make lude remarks and bikes get stolen EVERYWHERE. You know how many bikes I've had stolen from lower 7th AVE PS in broad daylight. PLEAZE!
IDIOT.
Posted by: guest at June 26, 2008 4:14 PM

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