Condos of the Day: 543 Dean Street

No, people who are in the market for this price range just know to wait right now until prices, and rates, go down.

Posted by: guest at December 19, 2007 12:56 PM

it seems like these type of conversions tend to lag in all neighborhoods - re: 3rd St Park Slope version from awhile back. the appeal doesn't really seem to be there for some reason and that reason is, ultimately, price.

Posted by: guest at December 19, 2007 1:02 PM

Brownstoner - GMAP link points to 52 Montgomery Pl (left over from previous hotd)

Posted by: guest at December 19, 2007 1:03 PM

There is definitely AYE in effect. Who wants to pay that much to be right next to a 10-20 year construction project?

Evidently nobody.

Posted by: guest at December 19, 2007 1:06 PM

The second bedrooms in each of these units is really small. After you put a bed in their how do you function? The layout seems a little awkward as well with the kitchens and bathrooms on opposite sides of the apartment. Wouldn't it have been better to keep them on sequestered on one side of the building so you could make the second bedroom a little larger?

The design is okay and the finishes seem well done but I'm not feeling this. Imagine the demographic that buys these and ask how many of them there are that can afford this. A couple with a one child (squished into that tiny bedroom)?

Posted by: guest at December 19, 2007 1:12 PM

I can't believe thhey would rehab a building glike this and leave out a W/D of the penthouse. What's the point of developers doing this much work?

Posted by: guest at December 19, 2007 1:17 PM

Isn't every second bedroom in these condo's (except the 2nd one in the penthouse) too small to qualify as a bedroom as defined by NYC Building code?

**§[C26-1205.7] 27-751 Minimum dimensions of
habitable rooms.- Habitable rooms shall have a minimum
clear width of eight feet in any part; a minimum clear
area of eighty square feet and a minimum clear ceiling
height of eight feet for the minimum area, except:
(a) A room which complies with the requirements for
natural light and ventilation and in addition has an opening
of not less than sixty square feet into an immediately
adjoining room may have a minimum floor area of seventy
square feet and a least horizontal dimension of seven feet;
(b) A dining space which has legally required
ventilation, and in which the window has an area of at
least one-eighth the floor area of such dining space;
(c) One-half the number of bedrooms in a dwelling unit
containing three or more bedrooms may have at* least
minimum dimension of seven feet;
(d) A room in a class B multiple dwelling as defined in
section four of the multiple dwelling law which may
have a minimum floor area of sixty square feet and a
least horizontal dimension of six feet.

Posted by: guest at December 19, 2007 1:23 PM

PRICE way too high for the combo of unfortunate location AND the underwhelming space and design.

Posted by: guest at December 19, 2007 1:30 PM

Aren't bedrooms REQUIRED to have a window? What is going on with the windowless bedroom scam at this property?!!! Strange...

BTW, to the person who thought there was no W/D, there appears to be one in the penthouse's common bathroom.

Posted by: guest at December 19, 2007 1:43 PM

I always wonder who is making these comments on these boards. Although the price of these were to high intially they seem to be at fair value now. Im sure they will sell within the next 60 days now. Some of u boobs don't have a clue what your talking about or are just sore you can't afford these neighborhoods. Well if you can't go out an work your asses off so you can and quit beig lazy whiners.

Posted by: guest at December 19, 2007 1:47 PM

Hey 1:47 - who are you accusing of being a boob?

Posted by: guest at December 19, 2007 1:49 PM

Are condos typically more expensive per square foot than buying a whole house? Because it seems to me that there are some pretty damn nice limestones in Park Slope right by the park that go for about $700 per square foot so why is it that condos seem to demand the same for not nearly the same quality? Just trying to figure out how these things get priced.

Posted by: guest at December 19, 2007 1:50 PM

1:50 - One reason might be that Townhouse's lose 10-20% (depending on the floor) of their sq footage with stairs, corridors etc

Posted by: guest at December 19, 2007 1:53 PM

Priced too high. A wall of glass with everyone from newswalk looking into your apt. Right next to the stadium. You can buy a floorthru in the north slope for the same price or less.

Posted by: guest at December 19, 2007 1:54 PM

You see, $1 million is still a lot of money. Brokers and sellers think $1 million is the new $500K, but it ain't. It's a shitload of dough.

Posted by: guest at December 19, 2007 1:58 PM

1:47 sounds like an owner/broker who's getting a little stressed out carrying these and watching prices shrink all around him (a woman wouldn't call someone a boob).

Let's face it. This isn't a prime location, the layout is awkward, and the second bedrooms stink. $700 per square foot is VERY OPTIMISTIC.

If I am a buyer a wait another two months and start sending offers that are 10-20% below asking and bet that they accept.

Posted by: guest at December 19, 2007 2:02 PM

It's a lot of money for that beige, green and maroon facade job on a non-prime block in a non-prime neighborhood.

Posted by: guest at December 19, 2007 2:03 PM

"(a woman wouldn't call someone a boob)"

Why not, exactly?

Posted by: guest at December 19, 2007 2:09 PM

How much will they get as rentals?

Posted by: guest at December 19, 2007 2:10 PM

Im not a seller 2:02 just in the real estate business, builder and seller, I buy brownstones and convert them. Yes I am a man and Im not stressed out two of my locations in Park Slope already sold in 6 weeks my new project in Carrol Gardens won't be finished for another 4 weeks and if I really new you I would bet you cash that they sell within 60 days. Thier are a ton of buyers out thier, if u wait too long. If people have money and good credit thier is no problem getting a mortgae. This sub prime thing is all person who should of never gotten mortgages in the 1st place, it was all corporate greed. You see Im not greedy and price accordingly and in this market in Bklyn, manhattan your always a winner if your smart. Its good to wait to see what the market might bring before you buy, but don't wait too long, it may be creep up on u within the next 2 mos and bam, the market comes back strong.

Posted by: guest at December 19, 2007 2:13 PM

I actually think these are done very nicely and smartly considering the space they had to work with. don't think those prices are reasonable however. Seems like there is no difference between condo prices these days - you can be in any neighborhood in brooklyn and they're priced the same. Seems to me a floorthrough in Prospect Heights shouldn't cost the same as one in Cobble Hill.

Posted by: guest at December 19, 2007 2:14 PM

You're funny, 2:13. You might try catching up on the goings-on in the economy before making any bold pronouncements.

Posted by: guest at December 19, 2007 2:28 PM

Boobs will be worthless once AY is built.

Posted by: guest at December 19, 2007 2:41 PM

Boobs will be worth more once the ecomony tanks

Posted by: guest at December 19, 2007 2:50 PM

Boobs are definitely harder to finance now, in this economy.

Posted by: guest at December 19, 2007 2:53 PM

These are still priced too high, even with the price cut. This is not a prime location. Plus, except for the Master BR and bath, all the spaces are cramped. Finishes are nice, but not worth an extra $120,000.

Posted by: guest at December 19, 2007 2:53 PM

I've paid more than these prices for boobs, and all I can say is that these are not prime boobs.

Posted by: guest at December 19, 2007 3:03 PM

No matter how you rationalize it, it is still a subdivided brownstone. The problem with cut-up brownstones, especially modest ones like this one, is that you always get that boarding house feel. You're in a house, but there are little apartments on every floor. It is just not my preference. I am probably too sensitive.
I can see living in a cut-up house if it were really economical. but a million dollars? That seems unreasonable to me.
It seems like one would not get one's money's worth.

Posted by: guest at December 19, 2007 3:09 PM

Boobs are never worthless.
Boobs can always be bought and sold
Boobs make the world go round.

Posted by: guest at December 19, 2007 3:10 PM

those are more like kennels than bedrooms. gross.

Posted by: guest at December 19, 2007 3:11 PM

It's past three o'clock, I guess the middle schoolers have logged on.

Posted by: guest at December 19, 2007 3:14 PM

Hey 3:14, I'd bet almost anything that's it's someone with a post grad education making all the funny comments. Sure they discovered boobs in middle school, but I bet they liked them more and more as time went on.

Posted by: guest at December 19, 2007 3:19 PM

These are way overpriced. This is anonprime block in Prospect Hgts not Park Slope. Lets wait and see how much they cut then by in the new year. I am betting at least another 20%.

Posted by: guest at December 19, 2007 3:34 PM

boobies, boobies, boobies, boobs.

Posted by: guest at December 19, 2007 3:36 PM

Aren't there units in elevator buildings for similar prices?
Why live in a cramped unit that you have to walk up two flights to get to?

Posted by: guest at December 19, 2007 3:37 PM

No Brownstoner it is those dreaded word "Real Estate Correction"

Posted by: guest at December 19, 2007 3:39 PM

I doubt this will sell at the current prices quickly. COMPETITION. COMPETITION. COMPETITION.

This not a traditional b'stone, it's trying to do modern luxe. You can get a 1000 sq ft + similiar styled apartment at the Forte or ORO in the same price range. AND you get much better views.

Where's the WHAT when when you need him/her?
Cause there's only four units this developement is a mini-clusterfuck.

Posted by: guest at December 19, 2007 3:49 PM

Screw AYE. Uhh maybe because spending over a million for a lame apt with a nook for a 2nd bedroom in this area is just...lame?

Posted by: guest at December 19, 2007 3:51 PM

oh and I'd pay 500k for the penthouse.

Posted by: guest at December 19, 2007 3:52 PM

3:37 is right, there are similar apartments, with real bedrooms, in apartment buildings that also come with supers and elevators and more than three families to stake your whole finanical life on.

Posted by: guest at December 19, 2007 4:19 PM

These units are great to rent for a while or to buy at a real cheap price, but I can't see paying real dough on it. There are better options for the same amount of cash.
The paint job on the facade is a little too San Francisco.

Posted by: guest at December 19, 2007 4:22 PM

Here's some absurd math for "boob" man...

1.8 million (and usually a lot less) will get you a comparable building in this hood...THE WHOLE FREAKING BUILDING!

So...he wants 3.8 MILLION for his renovated building...

Even if you bought the best building in that nabe and dumped 700 grand for a gut renovation you still are ahead of the game and have THE WHOLE FREAKING BUILDING.

This guy is into this building for 1.2 million plus his initial purchase price of under 100k...he's just a greedy fool.

He could sell the duplex and the penthouse for 800k each...the floor thru apts. for 500K each and still have doubled his money.

Posted by: guest at December 19, 2007 4:26 PM

exactly 426...thank you for the clarification...finally.

Posted by: guest at December 19, 2007 4:38 PM

I object sternly to the insinuation that we boob lovers have only a middle-school education. I have a graduate degree and agree that boobs make the world go round.

Thank you.

Posted by: guest at December 19, 2007 4:51 PM

So the lower duplex is what? the basement and the sub-basement? Charming. No need to buy a burial plot. when you die you can be buried in place. ughh.

Posted by: guest at December 19, 2007 5:00 PM

When did a fourth floor walk-up become a penthouse? This is liek Bush-speak!

Posted by: guest at December 19, 2007 5:11 PM

The Buildings department should not let people excavate undergound grottos with sunken rear wells and call them "duplexes".
Living underground is really not nice.
It is damp and smelly. After a heavy rain there is a good chance that it will be flooded and very smelly. The basement is bad enough but the cellar? will somebody actually want to live there? It seems inconceivable to me.
This is an affluent country. Life can be good in America. Why live like a nineteenth century indentured servant?

Posted by: guest at December 19, 2007 9:34 PM

This place is way way overpriced and as someone else mentioned you can get a much cleaner, nicer and larger apartment in Forte / Oro for cheaper....I would price all these @ at least 15% cheaper and it would still not be for me..you know AYE and fake "penthouse" view

Posted by: guest at December 19, 2007 10:21 PM

They ruined a perfectly nice brownstone,

Posted by: guest at December 19, 2007 10:28 PM

Paying almost a million for one floor of a brownstone is absolutely crazy, even in the best parts of Brooklyn, which Prospect Heights is not. Brownstones are built to be private houses, not apartments. Greed strikes again.

Posted by: guest at December 19, 2007 10:51 PM

I've actually seen them inside. The design and finishes are much nicer than most condos, including most of the new high rises. Clean, minimal design, with Viking, Bosch, etc. Penthouse has windows on 4 sides, to die for. Prices now seem OK. With adj. interest only, cheaper then renting, but I prefer views from ORO and BB Park which are a lot more expensive however.

Posted by: guest at December 20, 2007 8:11 AM

Oh cut the shit. These condos are way overpriced, no matter how you slice it. AND you'll be right next to a major construction site for the next 20 years of your life.

Posted by: guest at December 20, 2007 10:05 AM

nice apartments, ok location, but crazy prices.
that's a lot of scratch for not very big apartments in a pleasant but hardly prime location.

Posted by: guest at December 20, 2007 10:35 AM

I agree with most of the posts- overpriced. Bedrooms are small but I've seen lots of small in PS (I know this is PH).

My question is how overpriced do people generally think its is? 10%? 15%? I think a lowball offer of 12% below ask would be rejected by this seller right away (not knowing who the seller is- but the original ask was crazy).

Just wanted to see what others thought the right discount % should be. Thanks.

Posted by: guest at December 20, 2007 12:30 PM

I own a duplex condo with the lower level cut out. It's great. We have a walk out patio off of our bedroom. It is not damp, smelly or any of the other things that were speculated above by 9:34pm. Also, because our family sleeps on the lower level, it's extremely quiet, cooler in the summer, and overall, terrific for sleeping. Of course, we can't hear our neighbors either.

think if you are really buying, you go and look at everything you can, and then decide.

broad generalizations aren't really helpful.

Posted by: guest at December 20, 2007 2:49 PM

Your prices are WRONG. Go to Prudential Douglas Elliman website. The penthouse duplex is $999,000, not 1,095,000.

Posted by: guest at December 21, 2007 1:20 PM

Isn't this across the street from what will be the Atlantic Yards?

I moved from Bergen and 6th because that was too close~

Posted by: guest at April 17, 2008 2:19 PM

Isn't this across the street from what will be the Atlantic Yards? You buy it and they will disassembling the building across the st for four years!

Unibelievable I would nt pay this for the whole building! *well maybe

I moved from Bergen and 6th because that was too close~

Posted by: guest at April 17, 2008 2:25 PM