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June 13, 2008
Former Union HQ on the Block
The former headquarters of Local Workers 452 (and the current site of the Medgar Evers Headstart program) has been on the market, along with the empty lot next door, for six weeks now. The 5,500-square-foot building has a price tag of $2,350,000 and the 22-foot-wide lot is asking $795,000. According to PropertyShark, the combined buildable square footage for the two parcels is a little less than 13,000 square feet. Does $250 per buildable square foot seem reasonable for this location?
315 Vanderbilt Avenue [Douglas Elliman] GMAP P*Shark
313 Vanderbilt Avenue [Douglas Elliman]
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Comments
No.
Posted by: guest at June 13, 2008 11:28 AM
This side of Vanderbilt at this block is in the landmark district.
Posted by: guest at June 13, 2008 11:39 AM
A big yes! this thing is going to be sold in less than a month
Posted by: guest at June 13, 2008 12:11 PM
Wow. I think for a developer or for commercial activity of some sort, this seems like a good deal. For residential purposes, which would require a total gut, (but offers VERY exciting possibilities), this is too much dough.
I'd definitely look at this place if it were possible to turn it into a home. Can you imagine it? Driveway, yard, really wide almost loft like space in Fort Greene on what I think is a pretty street (though I'm not sure)? Perhaps even a roof deck up there? Wonder how much it would cost to convert.
By the way, is 12:11 a broker? Kinda sounded like a broker.
Posted by: Nokilissa at June 13, 2008 12:20 PM
I don't know about the asking price. To me-a bit steep.
One of the challenges would be: what could you really do with it? Converting it into housing would be very pricey. It's the same thing with the other nearby Elliman property at 372 Clinton Avenue. They are both currently 'institutionalized' and would take a gut renovation to convert. And neither property has anything in them that makes it an enticing buy.
Posted by: gwbrubaker at June 13, 2008 12:37 PM
Another one of Kathryn Lilly's winning listings--the owner gave their "dream" price and Lilly was just licking her chops at getting a listing that she never advised to a reasonable price. A real developer doesn't care about all of the descriptive neighborhood fluff in the listing, since a real developer would know their market already! The listing, for a developer to take it, needs more numbers and facts like Massey Knakal has in their listings.
Posted by: guest at June 13, 2008 12:58 PM
What #2 said - any price has to figure in LPC designation and the time and cost (and uncertainty) of a public review.
Good news is that the zoning is probably pretty close to what LPC would allow for a new building.
Posted by: guest at June 13, 2008 12:59 PM
The height restrictions associated with the zoning change last summer almost dictate, at this price, that you tear down the building and build new on both lots. At a lower price, a buyer could do what Nokilissa laid out.
Posted by: guest at June 13, 2008 1:01 PM
So where is the Head Start program relocating to?
I really like this building, just liking it as a Head Start too. I think it used to be a candy factory? There's a sign that says "Confections" or something on the facade.
Posted by: Heather at June 13, 2008 1:54 PM
I also relished the idea of the tots getting their "head start" inside a former candy and confectioners' workers' building. Alas, neither incarnation bears much resemblance to Mr. Wonka's eponymous factory.
Posted by: Brenda from Flatbush at June 13, 2008 2:15 PM
It used to be the union hall for the confectioners union. The candy factories were down the hill towards Park and Flushing (there's a candy factory loft conversion down there).
Posted by: guest at June 13, 2008 3:14 PM
the sign says: candy & confectionery workers local 452. i always liked this little building.
Posted by: guest at June 13, 2008 3:14 PM
its been on sale for months already
Posted by: guest at June 13, 2008 3:21 PM
I'm pretty certain it has been on and off the market for years. Or, at least, it was on the market once a couple years ago or so.
Posted by: MrMinerva at June 13, 2008 5:57 PM
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