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March 31, 2008
Closing Bell: 4th Avenue Condo Close to Selling Out
The Crest, the 4th Avenue condo on 2nd Street, is apparently 90 percent sold and ready for move-ins. The sign above is taped to the outside of the building, and a local entrepreneur has put up his own sign next to the Crest's, in a bid, perhaps, to do business with the building's new residents. StreetEasy shows eight active listings left at the condo that go from $559,000 (734-sf 1-bed) to $738,000 (985-sf 2-bed). GMAP
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Comments
This must be a mistake, right The What?
You told me the sky is falling.
Posted by: Biff Champion at March 31, 2008 4:07 PM
Ready for move-ins? I'll believe it when I see it...
Posted by: denton at March 31, 2008 4:13 PM
The Argyle is also less than 1% built.
Posted by: guest at March 31, 2008 4:14 PM
Pretty impressive then that they sold over 60% and still have 99% of it left to built.
Posted by: Biff Champion at March 31, 2008 4:17 PM
"build" that is... (been reading The What too much)
Posted by: Biff Champion at March 31, 2008 4:19 PM
I would agree, Biff.
Goes to show that if you build something not completely hideous (aka Novo) you have a good shot at selling a few units.
Posted by: jerri blank at March 31, 2008 4:22 PM
The truly impressive thing is how many suckers are willing to be strung along for five years while their unbuilt condo loses value in a declining market.
Posted by: guest at March 31, 2008 4:23 PM
4:23, while I agree buying pre-construction is a risky proposition, I'm sure a lot of "suckers" have done pretty well buying pre-construction and selling post. In fact, it seems even recent projects (i.e., J Condo, 110 Livingston, etc.) are already being flipped for a profit.
Posted by: Biff Champion at March 31, 2008 4:26 PM
Crest is very bit as ugly as Novo. Argyle looks like it will come out nice, if it actually resembles the rendering when it's done.
Posted by: guest at March 31, 2008 4:27 PM
Jerri, I also think the Toren is an interesting project that will liven up the Brooklyn skyline. Then again, I'm not a snooty architect wannabe that feels the need to trash every new, bold project.
Posted by: Biff Champion at March 31, 2008 4:28 PM
Ok Biff (You are making to hard for me to Chill).
Now it says "apparently 90 percent sold and ready for move-ins" and "Immediate Occupancy". Which one is it? Oh I know, Brownstoner called the Broker. Like he called the Broker on 119 Bainbridge St., oh I see. Lets look at the word "apparently", shall we.
apparently |əˈparəntlē; əˈpe(ə)r-| adverb [ sentence adverb ]
as far as one knows or can see : the child nodded, apparently content with the promise.
• used by speakers or writers to avoid committing themselves to the truth of what they are saying : foreign ministers met but apparently failed to make progress.
Lookie here "used by speakers or writers to avoid committing themselves to the truth of what they are saying"
I rest my case.
The What
Someday this war is gonna end...
Posted by: guest at March 31, 2008 4:29 PM
Biff Champion = jerri blank
Posted by: guest at March 31, 2008 4:33 PM
bought in williamsburg in 2006 - 2 flips last fall in our building one was 30% over purchase price. that was well in to the down market too. the other unit was at almost 20% over (smaller apt).
buying pre-construction is perhaps a small risk at best. most buidlings come to market and do fine.
Posted by: guest at March 31, 2008 4:33 PM
Oh, thanks The What. That helps. Let me try the word in a sentence. Here goes:
APPARENTLY, The What is a middle aged, balding white broker living in Lodi, NJ.
How did I do?
Posted by: Biff Champion at March 31, 2008 4:36 PM
4:33 #1 = clueless
Posted by: Biff Champion at March 31, 2008 4:36 PM
I moved into the crest this weekend so you morans shouldnt comment if you dont have all the facts.
Posted by: guest at March 31, 2008 4:37 PM
I live on this block and the open house on Sunday was VERY active - quite a frenzy of yuppies congregating at the entrance. And yes, it does look almost ready for move ins.
Out of curiosity I went to one of the first open houses, when it was still a construction site. The apartments were OK - not terrible, but small rooms. I could not figure out for the life of me how you'd place both a dining room table AND a sofa in the living area.
Posted by: guest at March 31, 2008 4:40 PM
These Condos don't have enough closet space. Master bedroom closets are a joke. For a couple, that's not enough room.
We're an average couple in a two bedroom and I have 2 closets in my entry (one for coats, one for shoes, umberellas, etc.), 2 closets in the hallway by the bedrooms (one with all the linens, one with the vacuum, tools, junk, etc.) and 1 wall to wall in the master bedroom and 1 in the second bedroom, and I still wish I had more closets.
So, what are they thinking in these Condos, where are you going to put everything?
Posted by: guest at March 31, 2008 4:43 PM
Why can I only find three recorded sales for this building on property shark and streeteasy? Not going to officially call BS on their broker's classy little signage, but busy open houses and a small number of active listings do not necessarily mean closed sales and move-ins.
Posted by: guest at March 31, 2008 4:49 PM
4:49, perhaps there are only 3.33 apartments?
Posted by: Biff Champion at March 31, 2008 5:02 PM
U-haul needs to build 10 more stories on top of its existing 4th Ave warehouse space to accommodate all these new closetless condo buyers! They could paint a tromp l'oeil image of what a real luxury building ought to look like on the blank wall space.
Posted by: guest at March 31, 2008 5:10 PM
"U-haul needs to build 10 more stories on top of its existing 4th Ave warehouse space to accommodate all these new closetless condo buyers"
Or maybe you can stop filling your life with crap and buy fewer, nicer quality things.
How many closets do you really need?? Big sale at Walmart this weekend?
Posted by: jerri blank at March 31, 2008 5:18 PM
Zing!
Posted by: guest at March 31, 2008 5:18 PM
Oh, snap! But I do have to wonder where one would keep anything other than a modest wardrobe looking at the floorplan (not that I can discern the actual closet space, just the number of closets). Where would one store a bicycle for instance? Perhaps in the parking space alloted to the unit? It might be cheaper to buy the adjoining apartment and use it for storage, given the price of parking spaces these days.
Posted by: Biff Champion at March 31, 2008 5:25 PM
They already have bedbugs?
Posted by: guest at March 31, 2008 5:25 PM
It's amazing that some people have nothing to do but sit around all day making nasty comments about things they don't even know about. I've checked a few different sites to see what people are saying about new developments and it seems there is so much negativity about so many new buildings. I don't see what is so hideous about the Crest and Novo. What are you people looking for? In the past, 4th Avenue was never a place I would consider living beause it just didn't seem like a residential area. These new condos are bringing new life to 4th Avenue and when the buyers decide to resell their units in 5 or more years and make a big profit, won't you all be jealous.
I have checked out the Crest and Novo and yes, they are a little small and not a lot of closet space but they are by no means hideous. If you don't plan on moving all your furniture from a house into a small apartment, you won't have a problem and there are so many ways to make a closet fit a lot more than you think.
For all those who have bought in the Crest or Novo especially those who have moved in already, enjoy your new home and don't let all the negative comments get to you.
Posted by: guest at March 31, 2008 5:29 PM
What’s with NOVO's rather hideous entryway signage on 5th Street?
Have you seen it? Throw-up colored sand tones with nasty lettering.
I'm convinced the developer just doesn’t care … he could have spent the same amount of loot on an entry that looked good.
Posted by: guest at March 31, 2008 5:30 PM
5:29...
I agree with you that all new developments should not be trashed, and that some people just want a nice, clean space. Personally I don't understand the closet issue, but that's irrelevant.
I don't however agree with you about the Novo. That place is an eyesore. Surely you must have SOME standards?
This country is all about saying everything is fine and pretend we live in a fantasy world. It's all about denial.
I think it's perfectly fine (and healthy in fact) to say...no...that isn't fine. It was cheaply built and ugly.
Sure it's better than an abandoned parking lot, but can you try to have at least a FEW standards??
The Crest is still rather ugly, but I think it works a little better than Novo.
Of course all the new people moving in should be happy and thrilled about their new place. If they cared what people on an anonymous blog thought about the most expensive purchase they will probably ever make, they are to put it frankly...idiots.
Posted by: jerri blank at March 31, 2008 5:38 PM
Hey Faded type troll - I know Im not supposed to feed you, but seriously dude, you are totally ruining this site for the rest of us with your totally childish crap.
At first I thought you were a little annoying but made a reasonable point, but now you are just a jerk-off spammer who obviously gets off drawing attention to himself in the most childish manner possible.
Do you really think you are making a serious point or have you realized you are just clogging up this site with useless and irrelevant crap.
Please find another site to act like a 12 year old on.
Mr. B - Please find a way to block this moron.
Thanks!
Posted by: guest at March 31, 2008 5:39 PM
Good for Novo. Although it is not an architectural masterpiece, what it brings to the neighborhood, 4th Ave to be exact, are tax paying consumers. Bottom line is, these are tax generating owners who will take care of their property. It will not be another car shop or Office Depot with a block size parking lot.
It is not 15 CPW, but it is better than the previous reality.
Good for Novo, Crest, Argyle and most important of all - hooray for 4th Ave.!
Posted by: guest at March 31, 2008 8:03 PM
I am buying a unit at the Crest. The bulding has exceeded my expectations. The workmanship is superior, the gym is over the top, and the kitchens and baths are fabulous.
I'm thinking of flipping it since it is so beautiful. I'm closing in about two weeks and there are people already closed and living in the building.
Posted by: guest at April 1, 2008 9:28 AM
9:28 = the brokeriest broker in the history of brokerdom.
Posted by: guest at April 1, 2008 9:40 AM
the brokers are going broke!
Posted by: guest at April 1, 2008 10:33 AM
i hope it is 90% sold. let more people blow their wads on these value traps so the good stuff will have less demand. you can keep your 5-10% down, awkward floorplan, ugly, noisy and dirty 4th ave trash. i will keep socking away for something with more integrity in the true slope and now i don't have to worry about competing with you. build more of these eyesores please!
Posted by: guest at April 1, 2008 11:53 AM
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