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September 15, 2008

Condos in Contract at 20 Henry Street

20-Henry-Street-0908.jpg
20-Henry-Interior.jpgLooks like four condos are in contract at 20 Henry Street, the loft conversion-plus-new-build project in Brooklyn Heights. Streeteasy shows four of the 43 units have been snatched up, including a 1,969-square-foot three-bedroom and for $2.5 million and $735,000 636-square-foot one-bedroom. From the photos on Halstead, it looks like the most expensive sale is in the original Peakes building that's being converted, while the other three are in the smaller new building being constructed to the north. They both look nice, no?
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Posted by lisa at 11:01 AM | Comments (20)
Categories: Brooklyn Heights, Condos

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Comments

These look awesome. I'd LOVE to live in that converted loft in the photo. gorgeous.

Posted by: lowintheheights at September 15, 2008 11:12 AM

Very nice.
reasonable maintenance.
nice crisp layouts.

Posted by: sam at September 15, 2008 11:20 AM

Talk about giving the people what they want! This place is going to be a home run.

Posted by: Fast Freddy at September 15, 2008 11:24 AM

Looks nice. Wish I could afford it.

Posted by: plgdude at September 15, 2008 12:15 PM

Am I missing something?
When you go to the site for the building, there are no links to anything but reservations.
I checked Halstead's site - Nada!
Where does one go to look at the units and what's available.

Is it me? Am I not awake yet.

Posted by: bayridgegirl at September 15, 2008 12:18 PM

click on the Streeteasy link in the post

Posted by: brownstoner at September 15, 2008 12:22 PM

WHAT? I agree with bayridgegirl. How the heck did these get into contract when I've been on the "reservation" list for almost 8 months now. waiting to be contacted just to see them. This is crap. it's an inside job and agents bogarting the listing. they sent me all the marketing stuff and when i called them they told me they would invite us in as soon as the doors opened to show. wha? wha?

Posted by: just me at September 15, 2008 12:58 PM

WHAT? I agree with bayridgegirl. How the heck did these get into contract when I've been on the "reservation" list for almost 8 months now. waiting to be contacted just to see them. This is crap. it's an inside job and agents bogarting the listing. they sent me all the marketing stuff and when i called them they told me they would invite us in as soon as the doors opened to show. wha? wha?

Posted by: just me at September 15, 2008 12:58 PM

thanks, Brown, but all I see is what went into contract. Me wants to looky at what's available.
Am I just not seeing it...I could be a tard at times.

Posted by: bayridgegirl at September 15, 2008 12:59 PM

oops, sorry for the double post, finger slipped

Posted by: just me at September 15, 2008 1:03 PM

Does anyone know if the offering plan has actually been approved for this development? You know what is strange - StreetEasy doesn't show any other units as Active Listings. Did they just release these four units and get them in contract right away, at the end of August, in this current credit crisis environment? That would be really impressive. Especially at the prices that are indicated.
#7CS $1,300 psf
#4BN $987 psf
#3CN $1,101 psf
#3AN $1,155 psf
That is some really impressive sale pricing. Something doesn't seem right here?

Posted by: ITM at September 15, 2008 1:38 PM

(said in my worst ricky ricardo accent) something doesn't smell right lucy....

Posted by: oohlala at September 15, 2008 1:55 PM

just me, same for me too. I also was on the list to book an appointment to see the apartments when the website first went up and never heard anything back after that. I'm not distraught, as I was more interested in seeing them for investment purposes than anything else, but it's annoying to know that we didn't even get a chance to see some of the units before they sold.

Posted by: Biff Champion at September 15, 2008 1:59 PM

Biff - you weren't passed over, I don't think any of these units actually sold.

Posted by: ITM at September 15, 2008 2:25 PM

hmm, well ITM that's an interesting comment. care to explain?

Posted by: justme at September 15, 2008 2:53 PM

Sounds like a case of creating artificial demand.

Posted by: SnarkSlope at September 15, 2008 4:14 PM

ITM, how do you figure? Streeteasy shows four of them already in contract.

Posted by: Biff Champion at September 15, 2008 4:38 PM

Don't know for a fact, just speculating. It all seems a little irregular to me. Looks like insiders/investors are trying to set price bar real high. $1,300 psf for pre-construction pricing of rehab project? They haven't even begun the rehab project yet. $1,100+ psf for pre-construction pricing on the new bldg? There isn't even a model unit. Considerate of the current economic situation I find it very hard to believe that real buyers are willing to put down a deposit for housing that is priced way above anything else in the immediate neighborhood and expect that it will be that value when the project is complete, 12 to 18 months from now. Especially when the finished product only exists as an artificial image. More reasons to be pessimistic about the legitimacy of these units really being in contract with anyone expect insiders/investors. No indication on Halstead site that this project is on the market. Why would they release just a few random units for sale? Where did these buyers get their mortgages from, assuming some of them required mortgages, for product that is not supported with comparable sales?

Posted by: ITM at September 15, 2008 6:55 PM


Sorry if I sound like the What, but you folks are crazy still talking about buying apartments in Brooklyn with the stuff that's going on with the financial markets.

Prices all over NYC will plummet at least 25% to 50% in the next year.

It's delusional to think otherwise. The house of cards is crashing and you folks still don't realize that the king is naked!

I realize nothing I say will convince you folks that townhouses in Brooklyn will depreciate faster than you can finish a six pack of Brooklyn Lagger, but it's going to happen and it's going to suck for folks that have to sell.

Posted by: IronBalls at September 15, 2008 11:56 PM

IronBalls, on the contrary. What I (and I believe the others) am saying is that something DOES seem outrageous and fishy here. ITM's further explanation (thanks for that, ITM) questions that anyone is actually paying $1,300 psf for pre-construction on the existing structure and $1,100+ psf for pre-construction on the new building. I agree with that and I agree with you that it makes no sense to pay these prices for such an unknown and at this time. I would hold off buying anything right now.

Posted by: Biff Champion at September 16, 2008 9:22 AM

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