Update on the 166 Montague Street Conversion

And they will sell like CRAZY

Posted by: guest at February 6, 2008 12:15 PM

That's cheap PSF compared to this neighborhood:

http://www.nytimes.com/2008/02/06/greathomesanddestinations/06gh-london.html

Posted by: guest at February 6, 2008 12:24 PM

Very busy corner. If they don't do adequate soundproofing these will not go for anywhere near $1200/sq foot.

Posted by: guest at February 6, 2008 12:44 PM

If it is marketed as being in Carroll Gardens or Park Slope, they will get their price.

Posted by: guest at February 6, 2008 12:50 PM

This is not Manhattan. Drop it below $1000/sf or watch them languish.

Posted by: guest at February 6, 2008 1:14 PM

I use to live on Clinton street in Brooklyn Heights and that street is very noisy. It is a main thoroughfare for all the commuters from Staten Island and southern Brooklyn and taxi cabs to get to the city. There is a constant honking of the horns throughout the day and throughout the night, car alarms blaring and fire trucks using it to get to where ever. Soundproof or double paned 1/4" laminated glass is a must.

Posted by: guest at February 6, 2008 2:07 PM

who in their right mind thinks these developers spending MILLIONS are not putting in soundproof windows?

Posted by: guest at February 6, 2008 2:40 PM

2:40 - the more the developers spend, the lower their margins. I wouldn't put it past them to cheap out on the (significantly more expensive) soundproof windows, esp. on the higher floors.

Either way, $1200/square foot for the ugliest corner in Brooklyn heights proper seems pretty optimistic to me in this market. Aren't those very nice condos at 118 State Street (nicer block, also asking around $1200/ft) STILL sitting on the market after first being listed in June 2007?

Posted by: guest at February 6, 2008 2:54 PM

I don't think an apartment in a walkup carriage house can be compared to an elevator turn-of-the century office building with high-ceilings and views of manahattan.

$1200sf will be a steal

Posted by: guest at February 6, 2008 3:07 PM

3:07 - $1200 sq/ft for a condo in a mediocre location in a neighborhood that has rarely if ever broken $1000 other than for well renovated single family townhomes? A steal? Are you kidding?

Posted by: guest at February 6, 2008 3:10 PM

You might want to open a window now and again, you know, like 7-9 months out of the year.

Posted by: guest at February 6, 2008 3:15 PM

They are asking over 1000sq ft for 1BBP and for 1PP (Meir building), meanwhile this is IN Brooklyn Heights - 2 blocks from BMT and IRT subway (and 5 blocks from IND), it will have Manhattan views from many of the apartments (which are more or less protected by zoning) and the building is GORGEOUS.

The reason why the price for condos rarely break $1000 a ft in BH is because there are virtually NO condos in BH! The few larger multi-family buildings are generally co-ops (which cost less per sq ft with higher carrying costs).

Posted by: guest at February 6, 2008 3:30 PM

Um, aren't both 1 Brooklyn Bridge Park and OPP having trouble moving their remaining units? And the jump from an average of $1000 to $1200sf is a BIG leap.

This building itself might be gorgeous, but the per square foot price will depend entirely on what the finished product looks like. And even if it is friggin spectacular, $1200 per square foot is not going to happen in this market.

Posted by: guest at February 6, 2008 3:57 PM

I work right around the corner from this building. Although it technically is Brooklyn Heights, it's in one of the worst areas of the neighborhood. Previous poster is right about the noise and the constant stream of cabs honking up Clinton Street. Not to mention it's only a block away from Court Street, which in this area of town can be a bit desolate and sketchy once the sun sets. It's not a residential location at all and the M/R train lets out on the same corner, just steps from the building entrance. There are roaches in the Lychee Nut restaurant next door and the employees there hang out behind the building and are constantly banging things and yelling. Not to mention the homeless man who sits by the M/R entrance each day, who is benign enough, but does the developer plan on finding accommodations for him so his "unsightly" presence doesn't upset the residents' views from their luxury windows?

I can't ever imagine wanting to live in this location. Brooklyn Heights, as a general rule, is quite lovely. But on this corner? No way.

Posted by: guest at February 6, 2008 4:57 PM

Residents can also enjoy the years of construction that will come from the building of a high-rise across the street on top of the Rite Aid

Posted by: guest at February 6, 2008 5:16 PM

5:16PM
I'm curious to what you're referring to? Do you have a link?

Posted by: guest at February 6, 2008 6:16 PM

Plenty of really affluent folks love Brooklyn Heights, these apartments will go like hot cakes.

Posted by: guest at February 6, 2008 6:50 PM

Speakng of hotcakes, I'm gonna check out the IHOP. Plenty of really affluent people love the Rooty Tooty Fresh 'N Fruity combo.

Posted by: guest at February 6, 2008 6:57 PM

Ha! IHOP!
I would say most folks in Brooklyn Heights do not even know what that is.
The thing is this: when it comes to rich folks, the stereotypes are sort of true.
They tend to be well educated, they tend to be workaholics, they tend not to eat pancakes as part of their normal diet, and they love Brooklyn Heights. So go figure.

Posted by: guest at February 6, 2008 7:09 PM

I like pancakes, Brooklyn Heights and this building.

Posted by: guest at February 6, 2008 10:03 PM