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April 9, 2008

4th Avenue's Argyle 60% Sold

The Argyle condo is shaping up to be a sales success story. Sixty percent of units in the under-construction building on 4th Avenue and 7th Street are in contract, according to Dan August Cordeiro, a senior managing director with Corcoran Sunshine, which is marketing the condo. Sales for the building began in October, and the sales office is located an avenue and a few blocks away from the development, on 5th Avenue in Park Slope proper. Cordeiro says having the off-site sales office has been helpful, and that the prices on units have been raised three times. He thinks the main selling points are the "quite lovely" floor plans and "spot-on" pricing. Prices are now averaging around $700 to $750 a square foot, which "is still a relatively good value" for the area, according to Cordeiro. "Most of the buyers are from Park Slope," he says. "People who really get the Slope understand that 4th Avenue is now part of the neighborhood." Although the building is very much still under construction, it's scheduled to be ready for move-ins by the end of this year.
The Argyle [Official Site]
The Argyle Follows 4th Avenue Pricing Pattern [Brownstoner]
The Argyle: Using 5th Avenue to Sell 4th [Brownstoner] GMAP

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Comments

NO!!!

Fourth Avenue needs to remember its place!

Posted by: guest at April 9, 2008 10:44 AM

I really like the Argyle - especially compared to Novo. The location is no 5th Ave, but at these prices you can't really expect that.

Posted by: guest at April 9, 2008 10:54 AM

I know a couple people who have bought places here. Seems to be the best of the 4th Avenue lot so far.

Posted by: jerri blank at April 9, 2008 10:57 AM

jerri blank = Corcorass broker

At least it's nice to see apartments selling at a rational rate. 60% sold since October seems to be much more reasonable than bidding wars over non-existant buildings.

Posted by: guest at April 9, 2008 11:01 AM

Done by end of this year :-) Must be well built. With more and more people moving to Bay Ridge and out there...4th avenue will becoming a race track. Enjoy living on a highway.

Posted by: guest at April 9, 2008 11:02 AM

and Santa Claus and the Tooth Ferry exist.

I don't trust a one source story where the only source is a real estate broker with an obvious bias.

Posted by: guest at April 9, 2008 11:06 AM

Can anyone tell me why these new buildings have such a small number of 3 bedroom apartments. It seems with all the kids in Park Slope that Parents with 2 small children would be so hungry for an apartment that they could own for years while the kids get older. If I was a developer I would make this building 50% 3 bedrooms.

Posted by: guest at April 9, 2008 11:06 AM

Posted by: guest at April 9, 2008 11:08 AM

Chatham condo in Hells Kitchen was built in less than a year AFAIR. (http://www.mgroupnyc.com/chatham_44_464_w_44/condo)
That is a luxury condo in Manhattan. This a mid level condo in Brooklyn. I'm pretty sure 1 year construction is more than reasonable.

LOL you said Bay Ridge.

Posted by: guest at April 9, 2008 11:09 AM

and Santa Claus and the Tooth Ferry exist.

I don't trust a one source story where the only source is a real estate broker with an obvious bias.

Posted by: guest at April 9, 2008 11:09 AM

I guess argyleparkslide.com and argyleparkslum.com were taken?

Posted by: guest at April 9, 2008 11:10 AM

You are correct, 11:06. There is a need for 3 bedroom apartments in Park Slope. But not so much along 4th Avenue, I don't think. I see parents more inclined to be closer to Prospect Park and singles/young couples closer to 4th and 5th Avenues.

The Vermeil and On Prospect Park have 3 bedrooms for sale. I'm sure there are others. There are also 3 bedrooms in brownstones that occassionally come onto the market.

I don't see The Argyle as a building attractive to a couple with 2 kids.

Posted by: jerri blank at April 9, 2008 11:11 AM

Did anyone else see the trees depicted on middle of 4th Avenue on the Argyle site...? Is that planned, wishful thinking, or just a way of fooling potential buyers...?

Posted by: guest at April 9, 2008 11:16 AM

@11:09 AM
Trust me: Bay Ridge people love to drive through Park Slope. Must be fun to pay $1millio n to live right in front of a race track.

Posted by: guest at April 9, 2008 11:19 AM

There is virtually no possibility of developing high density housing in Park Slope near the park. While the zoning allows for medium-density multifamily dwellings on the blocks along the park - they are also landmarked. This is why the area hasn't changed since the depression.

Had the depression not happened, it would be totally lined with 15+ story buildings. Instead, we have a couple highrises but also lots of townhouses and small apartment buildings.

Personally, I think the historic district should stop at 9th street. I'd say the majority of the buildings on Prospect Park West south of 9th street are not particularly significant and some of them look like slums. The southwest corner of Prospect Park is perfect for high-density development.

Lobby your local government officials. It is only natural that high density development should surround a major park like Prospect Park. It is a travesty of justice that such a beautiful community asset can only be enjoyed by the privileged few.

Posted by: Polemicist at April 9, 2008 11:20 AM

Park Slope is nice but I dont think it compares to the Cobble Hill area...

What is with the fascination of the P-SLOPE area?

Posted by: guest at April 9, 2008 11:23 AM

Park Slope is nice but I dont think it compares to the Cobble Hill area...

What is with the fascination of the P-SLOPE area?

Posted by: guest at April 9, 2008 11:23 AM

Don't think anyone here said there is a fascination with the "P-Slope area," 11:23.

We are discussing a building being constucted in Park Slope, however.

We'll talk some about Cobble Hill next time there is a thread on it though.

Posted by: jerri blank at April 9, 2008 11:30 AM

11:23 -

I live in the Cobble Hill area and love it, but I see why people with or without children love Park Slope: good public schools and a huge backyard, known as Prospect Park. I mean, as beautiful as Cobble Hill is, there's not much green space (both Cobble Hill and C. Gardens parks are tiny and there's a small handful of playgrounds). Those are the same reasons that many people I know with or without kids move to the UES and deal with having tiny apts: Central Park. Park Slope holds a similar attraction for many but you get more personal space for the same money.

Posted by: guest at April 9, 2008 11:41 AM

Prospect Park for me is the one thing, above all else, that keeps me in Park Slope also.

If you are the outdoors type as well as a city type like I am, there is nothing more refreshing than being able to crawl out of bed on a Sunday morning, take a blanket, some food, a book and a few smokes up to the Park.

It's a real treat every time. Never gets old. I find it the single best attribute of the neigborhood and I was willing to pay a premium to live within spitting distance of it.

That being said, I LOVE Cobble Hill also.

Posted by: jerri blank at April 9, 2008 11:51 AM

Just another note on that from what I've witnessed. A lot of people after a certain number of years CRAVE that outdoors stuff more and more...especially when you have kids. It's one of the reasons many people end up moving to the burbs, I think.

I think Prospect Park is the reason why people who move to Park Slope seem to be able to endure city life for a long time. If I lived in Chelsea, I don't think I'd be able to last a lifetime living with little to no greenery around me.

Living in Park Slope with all that parkland right there is JUST ENOUGH so that I do not crave the feeling of needing to leave for "greener pastures"

Everyone has a different threshold though, when it comes to this stuff. I have friends who could go the rest of their lives and never see another plant again.

Posted by: jerri blank at April 9, 2008 11:57 AM

3br issue=simple

On a per sq ft basis (which is the way you invest in these things) - you simply get more return on the smaller apartments - this is true even if the building turns rental.

Posted by: guest at April 9, 2008 11:57 AM

11:23, I like Cobble Hill as well (and spend lots of time there), but I don't get how you can say Park Slope doesn't compare to it.

I would rather shop in Park Slope, dine in Park Slope and have the chance to spot Jerri on a Sunday morning smoking on a blanket in Prospect Park.

Posted by: Biff Champion at April 9, 2008 12:00 PM

RE 3 br issue: Wouldn't a developer rather make money, than end up renting out all these crappy buildings? I'd bet that if they were 3 br, even the crap would go.

Posted by: guest at April 9, 2008 12:04 PM

RE 3 br issue: Wouldn't a developer rather make money, than end up renting out all these crappy buildings? I'd bet that if they were 3 br, even the crap would go.

Posted by: guest at April 9, 2008 12:05 PM

Move in by the end of the year...

We all know that is not gonna happen. In the last four months they haven't even gotten up another floor. I've never seen a worker on sight there. So happy I decided to look elsewhere.

Posted by: guest at April 9, 2008 12:17 PM

I think Cobble Hill Carroll Gardens is a much nicer area than Park slope. I think what most forget is how small Cobble and carroll are Park slope is Huge and expanding.

Posted by: ronman at April 9, 2008 12:19 PM

It's great that you love Cobble Hill and CG over Park Slope, 12:19. I take it you live there. That's the beauty of it...everyone has different likes/dislikes and taste. And everyone has things that are more or less important to them.

If everyone liked the same thing, we'd have a problem.

Posted by: jerri blank at April 9, 2008 12:24 PM

This one seems to be nicer than the other current 4TH Avenue construction. Hopefully for the current buyers it will sell out; I think the other ones are in trouble. What people understand is that 4TH Ave is the only place most younger buyers can get into the neighborhood, and this looks a lot nicer than the Novo or Crest. The location is not great from a traffic perspective, but it's not too far from stuff.

Posted by: guest at April 9, 2008 12:24 PM

"Park slope is Huge and expanding."

Not to state the obvious, but clearly that means a lot of people do like Park Slope, no?

Posted by: guest at April 9, 2008 12:27 PM

I think rather than live on 4th Ave. to claim you live in Park Slope, you'd be better off going slightly further West the Gowanus area or to C. Gardens around 3rd and Smith. The amount of time it takes to get to Prospect Park is comparable. Or, move east to Flatbush and be right next to the park.

Posted by: guest at April 9, 2008 12:31 PM

I can understand that on a square foot you can get more return on your investment, but it seems like a demand is not being met. And if one marketed a building with a majority of 3 bedrooms geared towards kids, I betcha the thing would be sold out before opening day. That is the return I would like if I was a developer, not some per square foot number crunching accoutant stuff. In other words High demand MOre money per sq. foot. seems like a reasonable approach.

Posted by: guest at April 9, 2008 12:47 PM

"think Cobble Hill Carroll Gardens is a much nicer area than Park slope. I think what most forget is how small Cobble and carroll are Park slope is Huge and expanding."

why must you Brooklynites constantly comapare your genitalia. Are you that insecure?

Posted by: guest at April 9, 2008 12:52 PM

Jerri:

Townhouses in Park Slope sold for more per square foot than in Chelsea well into the 1990s. It was only in the past 10 years that Chelsea has taken off as any kind of special neighborhood.

Posted by: Polemicist at April 9, 2008 12:55 PM

12:47 - you may have a point today - but when all these buildings were being planned sales were not a problem at all.

Also remember the land is sold as $ per buildable foot - and construction costs are based on buildable foot - so while you may think you wouldn't care about (total) sale price per buildable foot - anything that brings down the average can seriously cut into your (and your investors) margin (and believe it or not, if you bought the land recently the margins weren't all that great)

Posted by: guest at April 9, 2008 1:21 PM

I am looking at buying a condo at the Argyle or one in Boerum Hill - Cobble Hill... If the apt is 500 square feet can you really figure out the price per sq foot?

For instance one apt is about 500 sq feet and is about 390K its roughly $800 psf...

What I am asking is can you really use the price per square foot for smaller apts???

Thanks

Posted by: guest at April 9, 2008 1:46 PM

1:46 - in most brooklyn condos, it appears that you pay a higher price per sq. foot for smaller apts. however, really special buildings or Penthouses or waterfront property with manhattan views, will also usually show higher psf prices too.

Posted by: guest at April 9, 2008 1:58 PM

Jerri: I don't live in Carroll Gardens or Cobble hill , I live in Sunset park and hope to one day get enough money to move to CG or CH. I will say this all 3 are nice areas.

Posted by: ronman at April 9, 2008 2:07 PM

Jerri: I don't live in Carroll Gardens or Cobble hill , I live in Sunset park and hope to one day get enough money to move to CG or CH. I will say this all 3 are nice areas.

Posted by: ronman at April 9, 2008 2:13 PM

I think all the 3BR folks have never had kids.

If you have kids, you have to teach them to cross the street and get around the 'hood. No parent is gonna want their kids to cross 4th Ave until they are like 14, at least. And there's nothing in the other direction. So, the Argyle is not gonna attract any parents.

I'm amazed that people buy from a rendering that may or may not be true, in a development that has been two stories for months and months.

Posted by: denton at April 9, 2008 2:13 PM

Ronman,

Judging by this post from you in January, it sure would sound as though you live in Carroll Gardens. Every other post you've made has referred to the neighborhood (most of the time saying how it's better than somewhere else) and not once a mention of Sunset Park till today. I don't want to start anything with you, but please quit it with the neighborhood bashing. It's extremely immature. All of these neighborhoods are beautiful and have different things to offer.

***
"I Think Mr. Brownstoner needs to go to carroll Gardens a little more often. Ummmm Hello this is the safest nabe besides Brooklyn heights in Brooklyn. UMMM no there is no inventory glut, there is nothing for sale. I can not believe you people don't get it how close to manhattan Carroll Gardens is 3 stops. 24 min to midtown what more do you want? and yes the school is a top notch ps58. If you guys think you can find better than go buy in Clinton Hill."

Posted by: jerri blank at April 9, 2008 2:14 PM

1:46PM

Total square feet will only give you an idea. Look at the floor plan to get an idea of USABLE square feet. A 650 sqf might be more spacious than a 700 sqf. Remember total square feet is derived from the OUTER walls.

Usually in the same condo building the bigger the place is the price per square feet goes down (assuming certain amenities are the same). This is true for Manhattan, Queens and Brooklyn lux condos. This is basically because construction cost ratio goes down as the place gets bigger. Bathroom ratio, outdoor space, better appliances, higher floors, views, etc, are the factors that will usually make the price per square feet.

but generally as I mentioned, bigger units are lower priced per square feet assuming the same amenities.

Posted by: guest at April 9, 2008 2:16 PM

I've noticed small, 300sf or 400sf studios that certainly sell for more than 300K and 400K so yes, I do think that sometimes smaller apts (both co-op and condo) do command a price premium per square foot.

Posted by: jerri blank at April 9, 2008 2:19 PM

Perhaps ronman doesn't live in CH, but is a broker in CH (or perhaps has some other business there and interest in promoting it). If that's not the case, I don't understand the innuendo's that he lives there (also not trying to start anything - I just don't get it).

Posted by: Biff Champion at April 9, 2008 2:24 PM

Jerr : not trying to start anything like I said I don't live in CG or CH and I am no scumbag Real estate agent. But here is what I do know. Every time there is something good about CG nobody says a word on this board. Anytime something bad goes down the people of Park slope jump all over it. See what is working on this board is favoring those that have the time to monitor it all day. Mr B makes sure his area Clinton Hill gets a lot of attention. park slopers make sure everyone knows they are the best by bashing everyone else. So it's time others open up their eyes to what type of propaganda is being thrown around . If I want to stick up for CH CG it's my choice. I do not have time to go back and see what nonsense you have said on this board but since you do have fun.

Posted by: ronman at April 9, 2008 2:45 PM

A few more quotes from you, Ronman.

***
"I think Carroll Gardens is much nicer than park Slope and safer to"

"House is worth it very much so." (Regarding a 3.95 million asking price on 78 3rd Place in Carroll Gardens)

"I think that Henry street all the way down from Bklyn Heights to Carroll Gardens is Beautiful and one of the nicest blocks in NYC. They should just leave it alone."

Posted by: jerri blank at April 9, 2008 2:53 PM

Ronman, there are lots of people who support CG and CH and say many positive things about them - and rightfully so, they are both very nice neighborhoods, as is PS. I'm in BH but enjoy hanging out in CH and PS (and CG to an extent).

It's Mr B's blog - he can put up what he likes. And we can ignore the blog if we don't like it and start our own. There are many PS'ers, including Jerri, who often compliment other areas (as he did above) and will be critical of their own areas when justified. (One of the reasons I wish people signed in more, as you do, is so one could distinguish between those who blindly and constantly boost their 'hood versus others who are more objective.)

Posted by: Biff Champion at April 9, 2008 3:00 PM

Jerr: again what's your Point? I like CH and CG.

Posted by: ronman at April 9, 2008 3:00 PM

BIFF: Could not agree more with you . I love all of the areas 2 but there are to many on this board from park slope that bash other nabes 2 much. Enough Is enough with that.

Posted by: ronman at April 9, 2008 3:06 PM

My point is that you make it a habit of bashing other neighborhoods.

Your comments instigate others unnecessarily.

Anyone can scroll through your comments and see that you have some vested interest in CG/CH that goes beyond simply wanting to stand up for a neighborhood which is not your own.

Also you say you live in a brownstone with transom windows, which are in short supply in Sunset Park. Possible, but unlikely.

Carroll Gardens and Cobble Hill are wonderful neighborhoods. No one has disputed that. But you are discrediting yourself by being so one-sided about the matter.

Posted by: jerri blank at April 9, 2008 3:07 PM

BIFF: Could not agree more with you . I love all of the areas 2 but there are to many on this board from park slope that bash other nabes 2 much. Enough Is enough with that.

Posted by: ronman at April 9, 2008 3:09 PM

Jerr: I don't have a transom above my door? ok walk down 46 street take a look. Tell me what you think when you get back.

Posted by: ronman at April 9, 2008 3:12 PM

Ronman, you posted this on February 8, 2008:

"Can anyone advise me on this front door issue. I was quoted $23,000 for a pair of Sugar Pine front doors from a wood craftsman recomended on this site. To me this seems like a lot of money. Currently i have a single door with a transom on top. I was hopeing to change that to 2 full length doors with no transom. Has anyone bought new doors? what was the price? Would it be less expensive if i went with 2 doors and a transom? Has anyone bought doors from Eddie and had them look the way they intended? thanks"

Posted by: jerri blank at April 9, 2008 3:16 PM

Ronman, honestly I haven't witnessed as much bashing of other 'hoods here of late. In fact, I was pleasantly surprised over the last couple of days when people said positive things about Park Slope and didn't immediately get attacked.

Posted by: Biff Champion at April 9, 2008 3:17 PM

Problem that you are not acknowledging is that all of the park slopers are the ones doing the bashing of other areas.I mean hello am i wrong here?

Posted by: ronman at April 9, 2008 3:26 PM

Problem that you are not acknowledging is that all of the park slopers are the ones doing the bashing of other areas.I mean hello am i wrong here?

Posted by: ronman at April 9, 2008 3:31 PM

"I mean hello am i wrong here?"

Yes, about many things. Anytime someone uses the word "all" when referring to a group of people you are wrong. Especially when you are referring to people on a blog which is 95% anonymous.

And you can add liar to your list of credentials as well.

Posted by: jerri blank at April 9, 2008 3:33 PM

Jerr: what did i lie about? tell me please.

Posted by: ronman at April 9, 2008 3:36 PM

Jerri, give it a break. You're being a pest.

Posted by: guest at April 9, 2008 3:41 PM

Don't call me Jerr. That's for friends only.

See 3:16 for your lie. 3:12 you say you have no transom and I found your post which says you do.

This is my last comment to you.

Posted by: jerri blank at April 9, 2008 3:41 PM

Jerri, give it a break.

Posted by: guest at April 9, 2008 3:58 PM

Sorry to disturb you 3:58. I don't appreciate those who lie.

First it's transoms, next it's weapons of mass destruction.

I prefer to nip it in the bud these days...just in case...

Posted by: jerri blank at April 9, 2008 4:41 PM

JERR: I said I do have a transom U F*%^$ing Idiot. The only weapon of mass distruction is that little pee shooter in your pants you foolish foolish boy. Stop smoking the dust Little JERRY

Can anyone advise me on this front door issue. I was quoted $23,000 for a pair of Sugar Pine front doors from a wood craftsman recomended on this site. To me this seems like a lot of money. Currently i have a single door with a transom on top. I was hopeing to change that to 2 full length doors with no transom. Has anyone bought new doors? what was the price? Would it be less expensive if i went with 2 doors and a transom? Has anyone bought doors from Eddie and had them look the way they intended? thanks"

Posted by: ronman at April 9, 2008 5:07 PM

Jerri and Biff prove everyday they are losers, Ronman don't go there, walk away for God's sake WALK AWAY.

Posted by: guest at April 9, 2008 5:20 PM

Listen, I love trolling as much as the next person - but still, you guys are way too easy!

"I love Carroll Gardens! Park Slope sucks!"

That should not invite 30+ responses on this site.

Posted by: Polemicist at April 9, 2008 5:22 PM

"JERR: I said I do have a transom U F*%^$ing Idiot."

Whoops! Someone got told.

Posted by: guest at April 9, 2008 6:00 PM

"Listen, I love trolling as much as the next person"

Finally, the first accurate statement from the PoleDude.

Posted by: guest at April 9, 2008 8:29 PM

"Listen, I love trolling as much as the next person"

Finally, the first accurate statement from the PoleDude.

Posted by: guest at April 9, 2008 8:58 PM

Jerri and Biff -

Are you guys for real? I mean, how much trolling through old posts did you have to do to find all of those quotes?? Seriously, give it a rest - nobody cares (other than you two) if this guy exaggerates.

Seriously, you guys win the awards for most "stuck-up douche" and "biggest blow-hard douche".

Posted by: guest at April 9, 2008 11:35 PM