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May 19, 2008
Condos of the Day: 255 1st Street
Corcoran just launched the sales campaign for 255 1st Street, the 32-unit condo that once upon a time was called The Gowanus (despite being located between 4th and 5th avenues). Thus far, only five listings have popped up, ranging from a $800,000 one-bedroom to a $1,100,000 three-bedroom. The pre-opening sale was held on Saturday. Anyone go?
255 1st Street Listings [StreetEasy] GMAP
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Comments
that one bedroom looks like a joke.
almost $1000 a square foot for a 1 bedroom apt on 4th avenue, and the bedroom can only fit a twin bed?
amazing.
Posted by: guest at May 19, 2008 1:01 PM
I agree - these prices look pretty high to me, although drving past the crest on 2nd & 4th last night there seemed to be plenty of folks in there already so 4th ave is not putting folks off. Perhaps the parking space is bidding these places up. Will be interesting to see how 1st st sales go.
Posted by: guest at May 19, 2008 1:06 PM
I don't go to that part of town.
Posted by: guest at May 19, 2008 1:20 PM
These look like really bland apartments and they are coming to the market at a bad time. The only people the folks at Corcoran are kidding is themselves; this is just unrealistic pricing.
Posted by: bookistan at May 19, 2008 1:23 PM
Only an idiot would buy an 1100 sf place for $1M. That being said, there are plenty of idiots.
Posted by: guest at May 19, 2008 1:24 PM
This is too funny. I'm sure these apts will sell, as did all the other junk on or near 4th ave, but I'll never understand it. 4th Ave will never be nice. Come check out my $1,000,000 condo next to a nasty McDonald's with view of a cab stand and Staples. Oh and I can hangout on my balcony and look at all that traffic on 4th ave which is only going to get worse. 4th ave will never be the new 5th.
Posted by: guest at May 19, 2008 1:27 PM
@ 1:27pm "4th ave will never be the new 5th."
That's right. Isn't 4th meant to be the new Park Ave? lol
Posted by: guest at May 19, 2008 1:31 PM
What's going on with the development that is just a bit further up the block towards 5th avenue on First Street. It's been dormant for a couple of years now I believe.
Posted by: Brooklynnative at May 19, 2008 1:35 PM
How much can a 1100 sf $1M apt. appreciate in value? My guess is very little, if at all.
Posted by: guest at May 19, 2008 1:37 PM
Mmmmmm-mmmm, they still have that new rental smell.
Posted by: guest at May 19, 2008 1:38 PM
Does the 3br have ANY windows - other than the balcony?
Posted by: guest at May 19, 2008 1:42 PM
1:27 - the other "junk" on 4th was WAY less expensive.
Posted by: guest at May 19, 2008 1:44 PM
Come check out my $1,000,000 condo next to a nasty McDonald's with view of a cab stand and Staples.
um...come check out my 7 million dollar triceba loft overlooking new jersey, the henry hudson expressway and a gas station...
you are clueless dude. half of manhattan is or was next to something crappy, but costs twice as much. if you didn't want to live in a mixed income community, you shouldn't have moved to nyc.
Posted by: guest at May 19, 2008 1:48 PM
I'm lovin' it!
sure hope the prospective buyer can imagine the car stereos blasting the building while idling in the mickey d's drive-thru...
Posted by: guest at May 19, 2008 1:50 PM
they cannot seriously be asking 800k for a one-br that can only fit a cot and a chair in the bedroom? pathetic.
Posted by: martis at May 19, 2008 1:53 PM
4th avenue is the new meatpacking district.
gowanus is the new west chelsea.
Posted by: guest at May 19, 2008 1:54 PM
Denial is the new irrational exuberance.
Posted by: guest at May 19, 2008 1:59 PM
c'mon, you can open the windows here and huff free mickey d's grease & flavor enhancer #637!
Posted by: guest at May 19, 2008 2:03 PM
you morons cant afford to even look at these places so you all rag on it...jealousy!
Posted by: guest at May 19, 2008 2:06 PM
i have friends that rent on 4th ave and they have a place similar in size to the 800k 1bed but broken up into 3 bedrooms.
it rents for 2800 and 3 people split that.
over 4000 a month to live on 4th ave is steep.
Posted by: guest at May 19, 2008 2:11 PM
Kudos to the agent for posting completely unreadable floor plans. Otherwise, I can't imagine anyone being fooled into coming to see these place.
Is that 1 bedroom even 5 feet wide?
And what's the point of cramming a 2nd bathroom in there?
Was the architect drunk?
BTW, if the agent sells that place at 800K, he has totally earned his commission.
Otherwise, I guess I could see someone renting that place for $800.
Posted by: guest at May 19, 2008 2:14 PM
i have friends who own an apartment right across from the mcdonalds on west 4th street. their windows look out at it.
they paid 3 million dollars.
Posted by: guest at May 19, 2008 2:16 PM
4th ave is not west 4th street, that's the difference.
Posted by: guest at May 19, 2008 2:20 PM
is the mcdonalds on west 4th also next to a tire shop?
Posted by: guest at May 19, 2008 2:30 PM
so you're telling us you hang out with idiots?
Posted by: guest at May 19, 2008 2:30 PM
2:16 moron 2:20 moron 2:30 moron
Posted by: guest at May 19, 2008 2:36 PM
the floorplans appear to be drawn to scale.
Posted by: z at May 19, 2008 2:37 PM
why the hate on this? it's in 321 no? someone will want it and just offer less if needed. when I lived around there, the 1500 sq ft apt in the condo building on garfield bet. 4th + 5th was sold for way more that the 3 bed here.
Posted by: guest at May 19, 2008 2:40 PM
jealousy is the reason for the hate.
Posted by: guest at May 19, 2008 2:43 PM
the sky falling,tne sky falling!
Posted by: guest at May 19, 2008 2:53 PM
are you joking 2:43 - jealousy???????????? jealous of living on 4th avenue? I think people are just horrified and even scared that someone might pay these prices for such utter crap.
Posted by: guest at May 19, 2008 3:26 PM
My biggest beef with these new 4th Ave developments is this:
Look at the pictures of 4th Avenue in the roof shots. See those trees on 4th Ave ... CONED planted them in front of their office building.
How many tress have these new a-hole developers planted in front of their properties?
Nove? Zero
Crest? Zero
etc, etc, etc.
Get a CLUE developers ... Plant some trees in front of your buildings. After all, you showed them in your renderings!!
Posted by: guest at May 19, 2008 3:30 PM
3:30 get your facts right,the crest has 4 trees planted.get out of your hole at see.
Posted by: guest at May 19, 2008 3:35 PM
3:26 If their willing to pay and can afford it why does it bother you.
Posted by: guest at May 19, 2008 3:39 PM
3:39 - it bothers me because it encourages more hideous, crappy development. that's why.
Posted by: guest at May 19, 2008 3:46 PM
3:46 Its crappy to you because you cant afford it!
Posted by: guest at May 19, 2008 3:50 PM
Not sure about Crest but 3:30 is right about NOVO.
NOVO has no trees and a massive stretch of ugly pavement in front.
Posted by: guest at May 19, 2008 3:55 PM
There is only reason for ALL of this:
JEALOUSY!
Otherwise you would not care and ignore it like you do your wife.
Posted by: guest at May 19, 2008 4:20 PM
4:20 -- you got it. We are all jealous of people who spend $1000/sq. foot for 5 foot x 11 foot bedrooms.
Oh if only we could be so smart...
Posted by: guest at May 19, 2008 4:26 PM
You'll be sorry, 4:26 when they are 2000 psf in 15 years.
People said the EXACT same thing as you did 20 years ago. $100 psf in Park Slope??? It was red-lined.
Now it's the golden child of Brooklyn.
Keep renting though. I'm sure you're rent will be cheaper in 20 years.
Posted by: guest at May 19, 2008 4:33 PM
You'll be sorry, 4:26 when they are 2000 psf in 15 years.
People said the EXACT same thing as you did 20 years ago. $100 psf in Park Slope??? It was red-lined.
Now it's the golden child of Brooklyn.
Keep renting though. I'm sure your rent will be cheaper in 20 years.
Posted by: guest at May 19, 2008 4:33 PM
4:33, in 20 years, a 5 foot x 11 foot bedroom will still suck for everyone over the age of 3.
Cheap crap is still crap.
Posted by: guest at May 19, 2008 4:37 PM
i bet your ENTIRE apt isn't much bigger than 5 by 11, 4:37.
what's your obsession with size anyway? trying to make up for something else??
Posted by: guest at May 19, 2008 4:39 PM
spend your money wisely.
800k can buy something much nicer.
Posted by: guest at May 19, 2008 4:45 PM
It took the entire time from day Brooklyn was founded in 1646 until 2007 for prices to reach $1,000 a square foot. We are supposed to believe that what took 360 years to accomplish will take just 15 years?
Folks - there comes a time when one must think rationally about economic matters. I love Brooklyn as much as the next resident, but this is ridiculous.
There is a bubble. Whether or not we have a jubilee year of debt collapse and price deflation, or government induced hyperinflation - I do not know.
These are strange times however, and caution is warranted.
Posted by: Polemicist at May 19, 2008 4:47 PM
im sure he isnt paying 800k for that 5 by 11 box tho.
Posted by: guest at May 19, 2008 4:48 PM
no, he'll just spend that 800K in rent over the next 50 years.
then have nothing when he retires.
and nothing to leave his kids.
enjoy your 15k a month 1 bedroom on that fixed income in 2050.
hope you are saving like crazy.
Posted by: guest at May 19, 2008 4:58 PM
JEALOUSY!
Posted by: guest at May 19, 2008 5:14 PM
Polemicist I think the better argument is that it took from 1646 until 2000 for prices to reach 300 a square foot. In the seven years since, they have gone up over 700 a square foot. Were people wrong for centuries or are people paying too much these past seven and a half years?
Posted by: Brooklynnative at May 19, 2008 5:21 PM
JEALOUSY!
Posted by: guest at May 19, 2008 5:24 PM
Yes, everyone who thinks that these aps are overpriced crap are jealous and have no money. If that makes you feel better after paying 1m to live there, so be it. I'll think of you whenever I'm getting my car fixed, buying office supplies, or getting some McNuggets.
Posted by: guest at May 19, 2008 6:15 PM
Brooklynnative,
People have been paying too much these past 3 years.
The real question is, when real estate prices start dropping, will the desirable neighborhoods of Brooklyn continue to be desirable?
If so, the price drop won't be severe and prices will start going up again once the idiocy in the credit markets has been resolved.
But if it becomes less desirable (e.g., the stuff going on in crown heights right now gets worse or starts spreading to other neighborhoods), watch out, because wealthy people with young children who moved here in the last 5 years will move to Long Island and New Jersey so fast your head will spin.
And if that happens, those 800 sq foot L shaped condos on 4th avenue will be selling for about 450K.
Posted by: guest at May 19, 2008 6:17 PM
Dear idiot/broker:
The word you are looking for is "envy" and not "jealousy".
I would also suggest that neither word is applicable in this case.
The most apt word for any feelings I might have towards any prospective buyers would be "pity."
Posted by: guest at May 19, 2008 6:18 PM
Jealous? I think not. I live in a 1.9 million dollar townhouse in Park Slope, I bought it in 1994 for less than 250000.. I am not jealous of anyone who spends 800,000 on a crappy 1 bedroom. I feel sorry for them and I hate the developers and real estate agents who peddle this crap and make a 6% commish and 1000$ a sq. Ft. God people do you really want to own this bad? Get over it. Just rent. ANd by the way the one a block away on 4th that is really skinny is a real winner too.
Posted by: guest at May 19, 2008 6:20 PM
Oh yeah?
I live in a $1.99 million townhouse in Park Slope that I bought in 1993 for $240,000, so there.
...and my wife shaves her armpits.
JEALOUS?!
Posted by: guest at May 19, 2008 6:26 PM
pity is the word that comes to mind referring to feelings towards you, 6:18.
that much i know for certain.
Posted by: guest at May 19, 2008 6:27 PM
Here we go again: I am ENVIOUS of your wife's shaved pits, not jealous.
Posted by: guest at May 19, 2008 6:36 PM
You know, on the bright side, 4th avenue is at the bottom of the ginormous hill, so really, it's more convenient than the rest of the slope.
Also, all of those people who think Tribeca's a nice place to live? They're totally right! They must be, because they have more money than you.
Think of the view you'll get of the marathon! Think of the real, gritty, urban experience your tykes will have, crossing 4th avenue to get to PS321! Or McDonalds!
Honestly, 7th can't compare to 4th. For one thing, it's much, much smaller.
Posted by: Heather at May 19, 2008 6:57 PM
This person repeatedly screaming JEALOUSY when he means envy sounds a little kookoo for Coco Puffs, no? I have no feelings one way or another about this building but I hope for the developer's sake that this nutjob isn't representing him.
Posted by: guest at May 19, 2008 7:15 PM
To guest at 2:30: The tireshop/auto repair next door is up for sale. Corcoran has the listing for $5M. Maybe the lucky buyer can tear down the garage and build a twin to this gem, thus sandwiching in the McD's with architectural genius.
Posted by: bookistan at May 19, 2008 7:18 PM
btw heather, one need not "cross 4th avenue" to get to ps. 321 from here.
this is on the east side of 4th, sweetie pie.
Posted by: guest at May 19, 2008 7:23 PM
Ah, forgive my ignorance of 4th avenue. You know, since there's a big hill on the other side, I rarely cross it myself.
Posted by: Heather at May 19, 2008 7:36 PM
Just the way we like it Heather, just the way we like it.
Posted by: guest at May 19, 2008 8:09 PM
If it costs $350/sft to build "luxury" apartments in BK, why should they sell for any more than $400/sft?
Posted by: guest at May 20, 2008 8:16 AM
Heather "the Hill" is my favorite new poster.
Posted by: kuroko at May 20, 2008 9:21 AM
Why aren't you people willing to pay whatever the developers want? This is a FREE market after all.
Posted by: guest at May 20, 2008 9:28 AM
New York is the greatest city in the world. Of course it is worth these prices.
After all, where else could you just walk out your door and stroll to the rich cultural life of Gowanus without even getting into a car? If you want bland modern architecture, move to Houston. The suburbs are death; the canal is life. Get with it.
Posted by: guest at May 20, 2008 9:42 AM
The canal is definitely life. Any body of water with a venereal disease certainly knows how to live it up!
Posted by: guest at May 20, 2008 10:47 AM
LOL at comparing 4th avenue to Tribeca.
if 4th avenue is on the ground floor on its way to being the next Tribeca, $800k is an awful lot of money to get in on the ground floor.
townhouses on 4th avenue in the high teens are on the market for less than that.
Posted by: guest at May 20, 2008 11:14 AM
jealousy!
Posted by: guest at May 20, 2008 12:38 PM
jealousy and envy from all you morons!
Posted by: guest at May 20, 2008 1:42 PM
Gowanus envy! Yeah, I guess I got a baaaaad azzzz case of that!
Posted by: guest at May 20, 2008 1:53 PM
1:53 Envy because you cant afford it,moron.
Posted by: guest at May 20, 2008 2:44 PM
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