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October 24, 2008

Washington Avenue Condo Glut?

washington-condos-1008.jpg
On the same Washington Avenue block, between St. Marks and Dean, three new-build condo developments are [still] on the market. 647-49 Washington, called "Washington Towers," is being handled by Bergen Basin realty, which shows six remaining units ranging from $439,000 for a 870-square-foot duplex studio to $699,000 for a 1258-square-foot three-bed, two-bath unit, down a bit from when we checked in in March of '06. Common charges are pretty low: $200.00 to $334.00 a month. 651 Washington is a little less pleasing to the eye, with its iron balconies, long lintels and Feders boxes; it's being handled by Metropolis Realty, who gave the six remaining units, including a $749,000 triplex and three one-bedrooms, a price cut recently; the latter begins at at $349,000 and goes up $10,000 by floor. Finally, 655 Washington is called "The Modern Post," though the Web site's out of commission. AH has seven of nine units listed for $421,000 to $789,000 (for a studio/loft!).
Condos of the Day: Washington Avenue Doubleshot [Brownstoner]
Development Watch: 655 Washington Avenue [Brownstoner]
Getting Caught Up With 647 Washington Avenue [Brownstoner]
Set Speed Condo Report: 647 Washington [Brownstoner]




Posted by lisa at 10:31 AM | Comments (8)
Categories: Condos, Development, Prospect Heights

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Comments

Worldwide condo glut.

Posted by: DOW8000SP800 at October 24, 2008 10:41 AM

stopped into one for fun, and the agent tried keeping me focused/excited by the backyard/deck options as i stood transfixed by the hideous auto junkyard that would be the view and neighbor in back.

Posted by: goldie at October 24, 2008 11:14 AM

GOLDIE: You hit the nail on the head. I bet that it's noisy over there, too.

Posted by: BrooklynButler at October 24, 2008 11:43 AM

Worldwide for sure...

But on Washington it's really insane. There are a dozen or more new condo developments within 2 blocks, centered around the lower part of Washington Ave (PH/CH).

I remember the auto junkyard. The agent said to me... "well at least you have a clear view without obstruction."

Funny thing is that I haven't seen any price drops from any of these condos. It's like water building behind a damn. It's going to burst.

I do like the area though. I wouldn't mind living there actually long term, at more realistic price. Washington at that particular point is no more noisy than any Avenue in Park Slope.

Posted by: theandrewlee at October 24, 2008 12:21 PM

not too noisy (it will be facing west) but yes, I agree: What good is the east-facing balcony or private yard if it abuts a junkyard?

Posted by: Fjorder at October 24, 2008 12:22 PM

^ ambience

-r

Posted by: PitbullNYC at October 24, 2008 12:34 PM

The broker who showed me 655 Washington a few months ago was trying to sell one last one bedroom before making the rest of the building (I think about half) rental. Beautiful unit, but way too expensive.

Also, I don't think that 651 Washington has actually gone through any price chops. I'm pretty sure the units have always started at $349K.

Posted by: suziqed at October 24, 2008 12:50 PM

I, too, like this area. It's more built up than just a few years ago, with more restaurants (e.g. Gen, Tacos Muertos, a new Thai place, and a bar owned by the 4th Ave Pub folks is due to open soon).

Posted by: Big Jugs at October 24, 2008 5:26 PM

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