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April 23, 2008
Caton Avenue Condo Plans For Sale: Flatbush Edition
Yet another Caton Avenue property is for sale with approved plans for condos, this one in Prospect Lefferts Gardens. Last week, we wrote about 417 Caton Avenue, on the market for $1.35 million, and Caton On the Park (technically on Caton Place, which is really close to Caton Avenue), where construction on 107 apartments abruptly stopped with 40 percent of the work done. This newest property has plans to build 27 apartments and 24,400 square feet, only a few blocks away from Prospect Park. Asking price is $1.83 million, not much more than the $1.2 million purchase price two years ago. Think this one will be able to find a buyer?
Work Stops At Caton On the Park [Brownstoner]
417 Caton Avenue Going For Another Flip [Brownstoner]
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Comments
So confused. Isn't this Kensington? It states the location as Kensington on the other Brownstoner threads about this street.
Posted by: guest at April 23, 2008 11:45 AM
That's actually in Flatbush. PLG begins at Clarkson, a few blocks north of there.
Posted by: Frederick Law Homestead at April 23, 2008 12:17 PM
Caton runs through Kensington and Flatbush. This end is definitely in Flatbush.
Posted by: curiositykilledthecat at April 23, 2008 1:09 PM
So maybe change the category of the post to the correct neighborhood?
Seems nobody is around lately.
Posted by: guest at April 23, 2008 1:43 PM
FWIW PLG is also in Flatbush--it's the northern tip. Flatbush is very big. This building is in Flatbush, but not AFAIK in any part with a separate name. It's very close to the historic center of Flatbush (the Dutch Reformed Church, Flatbush Town Hall, etc.).
Posted by: Bob Marvin at April 23, 2008 1:54 PM
"Asking price is $1.83 million, not much more than the $1.2 million purchase price two years ago."
A >50% increase in two years isn't much more?
Posted by: Flatbushwhacker at April 23, 2008 2:59 PM
Flatbushwhacker, you beat me to it. Not only a 50%+ increase in two years, but in two years during which (let's finally face facts, people) the market around here hasn't really moved.
I swear, sometimes I worry that Mr. B doesnt understand money very well. Or, to put it more mildly and precisely (knowing as muach as anyone about his backstory) that his perception of value is warped by the series of windfalls in his own real estate history.
Posted by: sdrubbins at April 23, 2008 5:15 PM
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