Condo of the Day: One Main Street, #2K

Beautiful apt. Will go for over ask. Worth 1.4mm

Posted by: guest at June 5, 2008 1:05 PM

I think this will get this price. One Main is still teh nicest building and this is (small) "family-sized" which is in demand

Posted by: guest at June 5, 2008 1:11 PM

this apartment has been on the market quite awhile

Posted by: guest at June 5, 2008 1:25 PM

this apartment has been on the market quite awhile

Posted by: guest at June 5, 2008 1:25 PM

They have tried to sell this for years and rented it out in the meantime. They recently dropped the price so maybe they are finally realistic about selling. 1 Main is still the top building in Dumbo and the apt has a nice view.

Posted by: guest at June 5, 2008 1:52 PM

Link to the listing not working.

Posted by: guest at June 5, 2008 2:13 PM

One Main is nice, but has an 'old money' look and feel to it. It's a Park Ave building. I prefer something a bit younger and edgier, so I'd take one of the newer buildings in dumbo anyday...

Posted by: guest at June 5, 2008 2:23 PM

How is the place "family-sized?"

For $1.295m, I'm not stashing the kid(s) in a windowless room.

Posted by: guest at June 5, 2008 2:32 PM

There is no old money in Dumbo.

Posted by: guest at June 5, 2008 2:44 PM

"There's no reason to think this won't get pretty close to asking price."

Uh, yeah there is. June 2008 looks nothing like early 2007. Ask any one from Bear Stearns. Or take a look at your retirement accounts. Or bank account. Or a fuel pump.

Pre-2008 comparables will be useful benchmarks for what NOT to pay.

Posted by: guest at June 5, 2008 4:51 PM

You folks who write that this will get close to ask are being silly. When the market was still hot a year and a half ago, this unit 5 floors up went for $15k more. This is 2nd floor, dark, right across the street from the new Galapagos, has street noise, and has a view only if you strain your neck at the window. Plus, a recent article in TheRealDeal spoke of huge expenditures One Main is still making because of the problems Walentas left the building with. One Main's interior is old and worn. And yes, this has been on the market a long time.

Posted by: guest at June 5, 2008 7:26 PM

boring.
dumbo is so 2005-2007.

a suburb with continual traffic noise,
I pass.

Posted by: guest at June 5, 2008 8:31 PM

This is the problem with blogs. Brooklyn Love at 5:53 sounds so authoritative, and yet the link referred to brings one to... #29F at 100 Jay, not the unit in question. Thanks for nothing.

Posted by: guest at June 5, 2008 10:30 PM

Went to Toren condo on Flatbush and Myrtle yesterday and was super impressed. This building is truly iconic as opposed to One Main which is past its prime. Downtown Brooklyn along Flatbush is fast becoming the new Battery Park with better location. The Toren, in my humble opinion, will be the centerpiece based on the architecture by SOM. If only I had a few bucks to participate.

http://www.torencondo.com/

With the Avalon Bay luxury rental being next door ...

http://www.brooklyneagle.com/categories/category.php?category_id=5&id=16245

And Citypoint across the street with a beautiful park plus Sheraton and Mood Indigo Hotel etc...

http://www.citypointnyc.com/index.html

db.partnership.org

Plus Oro and Oro Two on next block ...

This project is a can't miss. When I went to Halstead, prices were below $750 per square foot.

Also in the back of the Toren is a project that is in process of development....

http://www.brownstoner.com/brownstoner/archives/2007/04/180_myrtle_aven.php

Went there yesterday, as well, and they are working on foundation.

Add to this the commitment by the city to landscape both Flatbush and Myrtle ....

http://www.nyc.gov/html/dcp/html/dwn_bklyn_ped/dwn_bklyn_ped_foc5.shtml

Add to this NYU merging with Tech and looking to utilize air rights and further develop in Brooklyn...

http://atlanticyardsreport.blogspot.com/2008/03/merger-or-consolidation-nyus-absorption.html

Not even mentioning Williamsburg Bank condo, Forte, and Beltel and Atlantic Yards. Wow. This is very very exciting. I love Brooklyn.

Again, looking at all the present developments, The Toren looks like it will come out the big winner. Why anyone would want to pick dumbo over this new and exciting area of Flatbush is beyond my comprehension. And to pay a premuim to boot. In five years let's see where we are at. I went to Google Maps and looked at what the Flatbush and Myrtle area looked like (160 Myrtle) and was shocked how fast they have come.

If only I had some money to invest now.

Posted by: guest at June 6, 2008 8:44 AM

I live in Dumbo, and work in the Flatbush Extension area. I am impressed and excited about the developements in the area:Toren, Oro, etc. I think that the downtown area will be even better in the next few years. BUT, DUMBO proper is only a few blocks and thus more exclusive (If that's what you're looking for).

All the developements you mentioned are for the most part a few blocks apart, and there is little difference between them.

I'm in real estate, so I track ALL the developements and attended ALL the open houses in the area. They all have something to offer; BUT,they're not in DUMBO.

Posted by: guest at June 6, 2008 1:58 PM