Development Watch: 587 Washington Avenue

The four-story, four-unit building, designed by Benjamin Ellis Architects and developed by Dante Demartino, has gotten a brick face and a bracketed cornice along the roof line. These days, to be contextual within this Hello Living-dominated section of Prospect Heights/Crown Heights, you probably need to lean toward the horizontal and find some brushed chrome to add to the facade, so we appreciate the building's retro nod, however tiny, to the Italianate style still found elsewhere in the 'hood. Also, we like the big windows. According to Streeteasy, the four units hit the market yesterday. They range from a 1,088-square-foot two-bedroom for $585,000 to $695,000 for a 2,256-square-foot one-bedroom. Is this optimistic, or about right?
Development Watch: 587 Washington [Brownstoner] GMAP P*Shark DOB
587 Washington Condos [Set Speed]

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Considering the market, the general quality of recent new construction, and that particular portion of the neighborhood, I'd say someone was being extremely optimistic (or hitting the crack pipe). It's lot of room for the money, but still.

Posted by: RaginCajun at October 21, 2008 2:46 PM

"They range from a one-bed, 2.5-bath for $695,000 to a two-bed, two-bath for $625,000."

This doesn't sound right...?

And why would a 1 bedroom apt. need 2 1/2 baths??

Posted by: 11217 at October 21, 2008 2:50 PM

www.onehansonplace.com has covered this a few times already. they went on sale a few weeks ago. streeteasy must be incorrect.

Posted by: ltjbukem73 at October 21, 2008 2:54 PM

The floor plans are quite nice.

The 1BR has the entire basement (2 rec rooms) and a private garage (blah) in addition to its 1BR and baths, so it seems like a pretty good deal for someone who, unfortunately, wants parking.

Posted by: zinka at October 21, 2008 2:57 PM

the listing on streeteasy is a bit strange. a 2,200 sq ft 1BR??

nothing like owning a pimped out crib for a young bachelor on washington ave. is this the target buyer? hmm

Posted by: bktycoon at October 21, 2008 2:57 PM

It's actually legally a one bedroom because it has two recreation rooms. Which I guess translates to two "bedrooms" at the basement level?

Posted by: RaginCajun at October 21, 2008 2:58 PM

11217 - It's a biiiiig bedroom?

I don't love this location. Between Atlantic and Washington I think you'd get a ton of street noise, and there's not much in the way of useful amenities around. I get a ton of street noise on 7th ave, but at least we have restaurants, grocery stores, and the like within easy walking distance.

I do like the architectural stylings much more than the average condo.

Posted by: cwbuecheler at October 21, 2008 3:00 PM

I for one am confident that northeast PH/CH border area blows up like the rest of PH. Washington Avenue needs a lot of love.

Zinka: I want parking for my gaggle of bicycles and (still have to purchase) 50+ mpg car that I'll use twice/month. Somehow that's unfortunate?

Posted by: Fjorder at October 21, 2008 3:27 PM

The price is in the same or slightly lower than the comparable new construction projects in this area where PH and CH meet. I'm talking particularly about 527 Sterling as well as the two fuglee new buildings just a block up on Washington. The developers have clearly done their homework on their competitors. I walk by these buildings quite often, and they aren't filling up fast.

Given the downturn, maybe all these new construction projects are optimistic about prices? I think so. I've been monitoring prices in Crown Heights / Prospect Heights, and I haven't seen asking prices come down for these types of condos. By contrast, I have seen asking prices go down by many tens of thousands in non-Brooklyn areas, e.g. NJ Suburbs (Maplewood), etc. I think Brooklyn will follow and that this price of these units will go down, along with all the others. How far? Not sure.

On architecture. I really like this building's architecture. It's nicer looking that many of the old buildings, which says a lot. It's way way better looking that the other new construction nearby.

On location. It's better than it seems. There is a small triangular park right at the bottom of Washington Avenue, and this development is above that park. The noise is not so much from Atlantic, but from Washington, which is a major thoroughfare.

It is relatively convenient location for parking and public transportation. Restaurants are moving this way as well. Because Washington slants at a diagonal, if you are at the bottom of Washington you are closer to restaurants on Vanderbilt, than if you are at the top of Washington. Of course, it's nothing like Park Slope or prime PH near Vanderbilt.

Posted by: theandrewlee at October 21, 2008 4:31 PM

Yes, "recreation room" is the standard euphemism on building permits for below-grade bedrooms. Nothing to prevent you from using the space as bedrooms.

Posted by: Bolder at October 21, 2008 6:50 PM

Actually, it's really a good location in terms of amenities, though it might not seem it at first glance. It's just a block from Vanderbilt, right down on the end with a lot of nice, decent restaurants and bars, like Le Gamin, Noona, and Beast within just a couple short blocks. It's also just a block from Tavern on Dean, and a couple blocks from Gen, a decent Thai joint, a Taqueria, Ginger Root Cafe, and more. It's a quick walk from the C/G and walkable the the 2/3, and a bit of a longer walk to the B/Q. And it's totally walkable to the Brooklyn Museum, Main BK Library, Grand Army Plaza farmer's market, and even Prospect Park. And it's very close to Fulton St on the other side of Atlantic, which has a cute yoga studio and a few cafes and such. The only thing it's missing in my book is a decent grocery store. (There's a mediocre Met a handful of blocks down Vanderbilt...).

I live quite nearby, obviously...

Posted by: tanner at October 22, 2008 10:18 AM

OK, the bracketed cornice doesn't quite match the 1940s-style modernist windows, but still, this is a FABULOUS improvement over, say, a Fedders building. My god, could every new building please be this fabulous? Please????? Oh, developers, please be listening.

Posted by: mopar at October 22, 2008 11:51 AM

"Nothing to prevent you from using the space as bedrooms."

True. Those downstairs bedrooms would be great if you are a vampire; there are no windows in the rec space, according to the floor plan.

But it could make a good live/work, if the ceilings aren't too low.

Posted by: mothra at October 22, 2008 12:06 PM

Fjorder, try Zipcar. It works great for people who need to use cars twice a month.

My three bikes are in my apartment. Creatively. ;)

Posted by: zinka at October 22, 2008 12:22 PM