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January 16, 2008
Condos of the Day: 536 Henry Street
It looks like brownstones aren't the only overpriced kind of property in Carroll Gardens these days. The condo conversion at 536 Henry Street has been on the market since around Labor Day, according to StreetEasy. Since then just one of the four units has gone into contract—and it took a small price cut to get it done. In the meantime, there are two two-bedrooms for $869,000 apiece and a three-bedroom for $1,275,000. There's an open house this Sunday from 12 to 1:30, but it's looking like it'll take more than that to move these babies.
536 Henry Street [StreetEasy] GMAP P*Shark
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Comments
I'm so over the overzealous Caroll Gardens market.
It's an ok neighborhood. Good, even.
But it's certainly no Park Slope, Brooklyn Heights or Ft. Greene.
Posted by: guest at January 16, 2008 12:46 PM
CG is great -- but 1.3 for that location? It's so far south you might as well be in key west for that price.
Posted by: guest at January 16, 2008 12:53 PM
LOL! 12:53
Posted by: guest at January 16, 2008 12:55 PM
the shrubs out front are nice...all in military alignment.
Posted by: guest at January 16, 2008 12:59 PM
Btw, they are still putting up balloons in front of that condo conversion on Union (between Henry and Hicks) every Sunday. Don't see much action at the Open House. (I do my laundry across the street.)
Posted by: Carol Gardens at January 16, 2008 1:03 PM
pricey!
Posted by: guest at January 16, 2008 1:10 PM
I guess CG is now officially the most expensive neighbourhood in Brooklyn. Unfortunately most of us did not get that memo.
Posted by: guest at January 16, 2008 1:13 PM
This actually is a prime location imo...only a few blocks from degraw st so not sure about the south/key west comment. South if you think it's in cobble hill, yes.
Agree it's too expensive though, 750/850k is the going rate for 2bdrms in the hood.
Posted by: guest at January 16, 2008 1:14 PM
Brokers are STILL posting on yesterday's HOTD thread trying to pump, pump, pump that house.
Posted by: guest at January 16, 2008 1:17 PM
This place will be worth it once they coat it in gold dust.
Posted by: guest at January 16, 2008 1:19 PM
1,036 sf seems like a pretty small 2-bedroom.
Posted by: Boerum Hill at January 16, 2008 1:31 PM
So-so on the finishes...like the central air...but the location is a little scrappy because of it's proximity to the BQE...second bedroom is really only useful for office and or entertainment room.
In this market, this goes out the door at 700K tops.
Posted by: kuroko at January 16, 2008 1:34 PM
If you are on Henry you won't hear the BQE. Anything within 1/2 a block of Hicks will have a noise problem, especially if you actually like to open a window once in a while.
Posted by: Carol Gardens at January 16, 2008 1:36 PM
Plenty of things have been selling for this much in the neighborhood, at least so far as the two bedroom price goes, so that's not the problem (people on this site really need to get a handle on comps before dissing things everything as overpriced -- and no, I'm no broker, just someone who has been actively looking in this area for the last 12 months).
The problem with these is simply that they're not very nice. The bedrooms are both small, the second one tiny, and the living area is also very small. Fixtures and bathrooms are pretty bland, and upclose the renovation looks pretty cheap (despite the fancy appliances). Overall, it just feels cramped and has no personality -- so I'm pretty sure that's the reason they're not selling. It's a reasonable price for a two bedroom in Carroll Gardens, but simply too much for these pretty blah apartments.
Posted by: guest at January 16, 2008 1:58 PM
Location is not scrappy on Henry street. You don't hear the BQE on Henry since is below ground at that point.
This area is prime Carroll Gardens.
Posted by: guest at January 16, 2008 2:17 PM
Went to an earlier open house last year. Agree with the stated comments; the layout and finishes aren't that great. The sister building (555 Henry - same developers and all the same finishes) was much better, for a similar price. Think that one was sold out quickly; there was only one unit remaining at the time.
The closet in the closet stood out as a particularly stupid design choice.
Carol, I also do my laundry at the place on Union. The place across the street had so many open houses, I finally decided to see what was going on. So. UGLY.
Posted by: guest at January 16, 2008 2:45 PM
The problem with these places is not necessarily the price - you could probably get near that for a real 1000 sq ft + condo with a solid reno job, even in a soft market. But this developer just cut too many corners and the layouts suck. I went to an open house a while back and there was quite a crowd. One guy I know from elsewhere said he put in a $750k bid and was rejected, so this developer only has himself to blame. Kind of like that joker looking for $1.65m for a 2 bedroom condo on state street in Brooklyn Heights - never going to sell without a substantial price reduction.
Posted by: guest at January 16, 2008 2:52 PM
Not entirely relevant, but what's the deal with all the apartments for sale all of a sudden at the Arches in Cobble Hill?
Posted by: guest at January 16, 2008 2:57 PM
The closet-in-a-closet definitely wins the Lay Off The Bong When Creating Floorplans award.
Posted by: guest at January 16, 2008 3:16 PM
I'm still waiting for the first Starbucks with in a Starbucks to open.
Posted by: guest at January 16, 2008 3:24 PM
Can someone please explain to me what a closet inside a closet looks like.
Posted by: guest at January 16, 2008 3:25 PM
I was wondering about Arches too -- could it be that a tax abatement is up or some special assessment is coming?
Posted by: guest at January 16, 2008 3:29 PM
Check out this 2br condo on State Street in Boerum Heights. Way reasonably priced.
http://tinyurl.com/34tes5
Posted by: terrelljonez at January 16, 2008 3:32 PM
David, What the hell is Boerum Heights?
Posted by: guest at January 16, 2008 3:38 PM
Um, meant Boerum Hill. Been so busy trying to sell this sweet apt @ 560 State.
Posted by: terrelljonez at January 16, 2008 3:49 PM
I think there was a flip tax imposed on those first buyers at Arches that is now up (you know, 5% flip tax if you sell in first 2-3 years).
Posted by: guest at January 16, 2008 4:27 PM
Don't by anything from that schmuck David Rogers. He's constantly posting garbage in comments, unrelated to the thread, with links to his Prudential listing.
David, why don't you break down and cut your hair you ugly asshat.
Posted by: guest at January 16, 2008 4:30 PM
Comparing that state street location with prime henry street carroll gardens doesn't make much sense. I don't even consider that in Beurum Hill but brokers are trying to stretch boundries.
Posted by: guest at January 16, 2008 5:14 PM
Holy moly--that Prudential broker DAVID ROGERS is the most desperate scumbag ever. He's posted all over Brownstoner (w/ different ids) and Curbed trying to unload that State Street apartment. DESPERATION!!! Signs of the SLOWING MARKET!!!!
Posted by: guest at January 16, 2008 7:38 PM
This is Prime Henry street If you don't like this part of Brooklyn then Move to Beverly Hills. Mr. B you are Losing my faith in you.
Posted by: guest at January 17, 2008 12:06 AM
The initial post did not say anything bad about the location. It merely said that these condos are overpriced, and other people agree. Including me. I'll be interested in seeing when they sell and for how much. It is not a diss on the area. 12:53 was off with the "Key West" comment as it is a short walk to the train and near the shops on Henry, Union, and those on Columbia.
Posted by: Carol Gardens at January 17, 2008 9:28 AM
The price here is a lttle high, Im finishing my conversion on clinton st now, near hamilton ave, although I can hear the gowanus I have the walls well insulated inside and although I live in the bldg as well after the first week you don't even hear the highway anymore or you don't notice it. Mine are two bedrooms with Chefs Stainless eat in kitchens and designer bathrooms. Both have 15x20 private roof decks and 7x10 balconies off the bedrooms. I used all top of the line materials and appliances, I figure I will sell one pretty quickly for 700-750K. Im not greedy.
Posted by: guest at January 17, 2008 9:38 AM
All of these conversions of 3-4 family houses into condos are entering a market with a ton of new construction condos already out there. Agree that this is getting to be more of a risk?
Posted by: guest at January 17, 2008 12:55 PM
That closet within a closet would be a huge asset to a secretive homosexual.
Posted by: Rehab at January 17, 2008 1:18 PM
" All of these conversions of 3-4 family houses into condos are entering a market with a ton of new construction condos already out there. Agree that this is getting to be more of a risk?"
Its only risky if you are in debt for the construction. You can always get high rent until the market gets expensive again. Remember once Atlantic Yards starts to happen and the new downtown bklyn starts anywhere in the adjoining 4 -5 neighborhoods the real estate will sky rocket. So even if u buy a condo today, in 10 years you'll make a ton of money when u sell it becuase bklyn downtown will be built.
Posted by: guest at January 18, 2008 8:02 AM
I dont think it's risky at all. I find a unit in a 3-4 family house on henry st far more desireable than of the new construction crap on 4th ave, AY, w-burg, etc.
Posted by: guest at January 18, 2008 11:00 AM
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