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October 29, 2008

Price Hikes in Greenpoint? Say What?

190-Freeman-Street-1008.jpg
Most of the price revisions you see these days are of the downward variety, so we were a little surprised to see some up arrows next to the three units at 190 Freeman Street. From the photos available, it's not readily apparent to us why the developers have such unbridled confidence at a time when fringier areas are feeling the most pain, but maybe they know something we don't!




Posted by Brownstoner at 10:14 AM | Comments (15)
Categories: Condos, Greenpoint

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Must be avid readers of the NYT

Posted by: daveinbedstuy at October 29, 2008 10:17 AM

most greenpoint realtors are about a year behind, so it's still bubble land for them, especially greenpointproperties.com. I love the idea that if it's not selling at a lower price, it must be that it looks like a cheap condo, but if we *raise* the price, then it'll actually seem nicer! genius!

it's like a bubble wrapped in a bubble in a bubble wrapped in an enigma.

Posted by: dbcn at October 29, 2008 10:35 AM

didn't greenpoint properties once have the old stables/carriage house on Freeman st. for sale at a $4 million pricetag?

Posted by: dittoburg at October 29, 2008 10:47 AM

Absolutely right about greenpointproperties.com - They just sold a property 21.6% below their asking price. Their asking prices are still from a time and place that is now a distant memory.

Posted by: Spunky123 at October 29, 2008 10:49 AM

Only 6 blocks from the useless G-train! Or a quick walk to the 7-train... the freezing cold journey over the bridge is just what everyone needs to open up those pores!!

$500k is almost cheap! And i'm sure the monthly maintenance is really reasonable.

Posted by: tybur6 at October 29, 2008 10:54 AM

The most pain is actually felt by my eyes as I walk by this catastrophe. Perhaps they are feeling confident because this listing excludes any exterior shots.

Posted by: DKinNY at October 29, 2008 10:59 AM

based on the comments here, these places are clearly underpriced.

Posted by: dittoburg at October 29, 2008 11:02 AM

I agree... definitely underpriced. $500k for a 1-bedroom apartment is absolutely a great buy! 3 months ago, I'm sure the appropriate price would have been $750k or more... The brownstoner clan should be skittish now! Be strong and keep supporting these price tags!

If you can't stand behind a $500k apartment in Greenpoint now, how do you expect us to believe you when you say your brownstone is worth $3.7 million when you decide to sell next year?! (after paying only $300k a decade ago)

Posted by: tybur6 at October 29, 2008 11:09 AM

i have no insight into the thoughts of the developers, but greenpoint is hardly fringe. it's full of restaurants, clubs, parks, shops, very good and reasonably priced markets and grocery stores, nice people, etc... remember there's no public housing there and no ghetto. also, you have quick and easy access to the amenities in williamsburg and LIC.

personally, i think that any developer there should build family sized apts though instead of 1 bed rms. as one of greenpoint's biggest strengths are it's public schools. i know several families that moved to greenpoint either for PS34 or 31.

regarding the g, some take it, others take the B61 that shoots down driggs, and they get on the L @ driggs and N.7th (it's the other entrance to the bedford stop). my assistant lives off franklin street and loves it - if you don't know franklin - go check it out - it's a great street- wonderful shops, pretty old brick buildings, really good restaurants. franklin street is really what brooklyn is all about. anyway, she rides her bike to the bedford L - tons of people do that as well. she thinks her commute is mellow.

i don't live in greenpoint, but i would.

Posted by: wine lover at October 29, 2008 11:43 AM

"i don't live in greenpoint, but i would."

Same here. If I'm forced out of my favorite part of NYC (Cobble Hill) and can't afford any nearby 'hoods, Greenpoint would be next on my list of "places I could live and probably wouldn't hate".

Posted by: broadwayron at October 29, 2008 12:09 PM

Chill out folks. Reality of the situation is that buyers are lowballing the hell out of these realtors. You jack up the asking price so when the low ball offers come in, they're a little bit better.

Posted by: Ozymandius at October 29, 2008 12:47 PM

@winelover: I love Greenpoint too, but it is hardly "full of parks"!!!

Posted by: bkkkkklyn at October 29, 2008 1:07 PM

I think there are two parks...

Posted by: tybur6 at October 29, 2008 1:47 PM

Greenpoint Parks:
1. McCarren Park -- very large park
2. Winthrop Park (as we natives know it) aka McGolrick Park
3. American Park (on Franklin St)
4. one down by Commerical Street & the water -- don't remember the name

Posted by: Spunky123 at October 29, 2008 3:46 PM

Isn't the correct pronounciation "Greenpernt"?

Posted by: sam at October 29, 2008 4:24 PM

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