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February 15, 2008
Condos of the Day: 384 Maple Street
The developers of 384 Maple Street, a six-unit condo building in Crown Heights, were trying to flip the project back in 2006 before it had even begun. Too bad for them that they didn't find a buyer back then. So far, the end-product has not been moving so well: After four months on the market, six units are still available and one just got a big price cut. We're a little unclear how many units there are in all—the new building application called for 10 but the Elliman site lists only six. Prices range from $550,000 for a 1,566-square-foot three-bedroom to $799,000 for a 1,834-square-foot three-bedroom. There's an open house on Sunday from 12 to 2.
384 Maple Street [Douglas Elliman] GMAP P*Shark
Development Opp: Karl Fischer, Off The Rack [Brownstoner]
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Comments
That's not Crown Heights, it's the far eastern edge of Prospect Lefferts Gardens bordering on Wingate.
Posted by: guest at February 15, 2008 12:46 PM
How is this area overall?
Posted by: guest at February 15, 2008 12:50 PM
We live on Maple Street but inside Lefferts Manor. I don't know this stretch of Maple even though it's only 2 blocks from the Lefferts Manor district. We shop on Nostrand but that's as far as we've ventured. There are decent markets like an excellent fish market and a bakery on Nostrand near this condo. This would be close to the 2/5 subway. That's all the info I can share, myself. Others would know more.
Posted by: guest at February 15, 2008 12:56 PM
It looks close to the subway, and is certainly "Affordable" for condos of this size.
Posted by: guest at February 15, 2008 12:58 PM
Wonderful place to drop 3/4 of a million dollars. Just be sure to walk in pairs or groups, never alone, and never ever venture outside after sundown. Lovely neighborhood. I'd love to spend that kind of money there. NOT
Posted by: guest at February 15, 2008 1:08 PM
Cant you buy brownstones in this neighborhood for close to that kind of scratch?
Posted by: guest at February 15, 2008 1:11 PM
This is hysterical. Looks like these developers were guessing a little on the optimistic side of the gentrification wave. If they were smart they would have made these all one bedrooms and priced them at ~$200k to appeal to the first time buyer who is willing to live a bit more out-of-the-way. Why would a family want to live here? May as well wear a 'Mug Me' sign around your neck when you walk out of this heap.
Keep on chopping Elliman.
Posted by: guest at February 15, 2008 1:14 PM
I agree these places are ugly and overpriced and a long walk to the train, but $5 says the last four comments are from the same ip address.
Posted by: guest at February 15, 2008 1:27 PM
you would lose 1:27 - I posted 1:11 but not the others.
Posted by: guest at February 15, 2008 1:31 PM
The price of $550,000 for a 1,566 square foot 3BR certainly reflects this building isn't located smack in the middle of Brooklyn Heights. This particular block won't appeal to everyone, but all apartment and condo sales are slow and taking several weeks or a couple months to sell, even in better locations. It only makes sense a non-prime location would take even longer. People keep gleefully reminding everyone it's not the bubble anymore, but then turn right around and base their judgements on standards that were specific to the bubble. Kind of illogical. Things just aren't going to sell overnight anymore, anywhere, unless it's a fantastic location that's a bit underpriced. But how rare are those? Sellers in the better locations are still stubbornly pricing things high. Even if they sit there unsold.
Posted by: guest at February 15, 2008 1:32 PM
GMAP link typo: "hhhttp"
Posted by: HerWayOrTheHighway at February 15, 2008 1:38 PM
Nobody is going to spend that kind of money or anything close to live in that hood in this RE market. Period
Posted by: guest at February 15, 2008 1:45 PM
Actually, people spend more on condos in that area if it is within the boundaries of the Jewish neighborhood. The new condos going up north of Kings County Hosptial are actually more expensive, and they are selling.
This condo is sorta nearby, so maybe the developers should market to that demographic.
Posted by: guest at February 15, 2008 2:13 PM
Is this thing actually built yet, or is still just girders and computer renderings?
Posted by: guest at February 15, 2008 2:19 PM
1:31, I owe you a beer. Apologies.
Posted by: guest at February 15, 2008 2:26 PM
Strange that this condo building on the outskirts of PLG is considered real estate "news" by Brownstoner, even though most people in PLG barely know it exists.
The real news of the neighborhood everyone is talking about is the 20-30 story luxury condo with retail and parking underneath being built on Lincoln Road near the park in PLG, next to the B/Q stop. The scaffolding is up and demolition started this week. Also in PLG there's the condo being built on Ocean on the park, the demolition was completed recently. AND just this week the property next door to it went up for sale listed with Sotheby's and being marketed specifically to developers.
I'd have thought for those following Brooklyn real estate in any serious way those developments would merit the attention. Not this building. I hope this building sells its units but it's true it is a bit ill-conceived, the sizes of the units and the location.
Posted by: guest at February 15, 2008 2:36 PM
Agree with 2:36 as a lifelong PLG (in the Manor)resident this shows how out of touch Mr. B is. You can't limit a blog to searching a few mainstream sites.
Posted by: guest at February 15, 2008 2:55 PM
these are big apartments though. big apts are hard to find at these prices. worth taking a low ball stab at it if you want to stay in the city and need a big place.
Posted by: guest at February 15, 2008 3:13 PM
Especially since this development was discussed on Across The Park several months ago...
Posted by: guest at February 15, 2008 4:08 PM
I've also heard that these apartments are built so that installing a second kitchen for kosher needs would be relatively easy, adding appeal to the Orthodox market, which is an increasing presence in this area.
Posted by: guest at February 15, 2008 4:27 PM
These apartments were conceived for the Jewish population nearby. That's apparent from the size of the apartments as well as oddly placed sinks in hallways, which are intended to be used as ritual sinks, or maybe to separate meat from dairy. That part of PLG is close to the subway and no more dangerous than many other parts of Brooklyn.
Posted by: guest at February 15, 2008 4:59 PM
I would never consider an apartment in this building without a doorman or live-in super, neither of which is planned.
Posted by: guest at February 15, 2008 5:07 PM
Pretty old news--Across the Park had this over three months ago:
http://acrossthepark.typepad.com/atp/2007/11/384-maple-st.html#comments
At the risk of sounding like some of the obvious shills who posted on ATP, the building [which has indeed been built] looks nicer than other new construction in the neighborhood [OK--that IS rather faint praise].
Also, despite what some "asshat" posters have written [thank you "What", for that word], this block may be less aesthetically attractive than PLG blocks further west, but it's actually pretty safe.
Posted by: Bob Marvin at February 15, 2008 5:42 PM
"Cant you buy brownstones in this neighborhood for close to that kind of scratch?"
Yes, for the price of the most expensive apartment, although probably a small two story that's about the same size.
Posted by: Bob Marvin at February 15, 2008 6:09 PM
Is the area ok? The price does seem great!!!! We have two children and we need space...
PLease tell us what you know...
Posted by: guest at May 14, 2008 1:01 PM
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