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March 2, 2009

Checking In On The Iroquois

The Iroquois, a 10-unit development at 620 10th Street in Park Slope designed by Tambasco Architects, hit the market last October just as the world was imploding. At the time, commenters found the prices "hysterical," "beyond belief," and "crazy." The developer must not be too eager to move the apartments because the price tags still range from $1,325,000 for a 1,213-square-foot unit on the third floor to $2,095,000 for a 2,347-square-foot unit on the ground floor. Think they've resigned themselves to going rental? Bad karma for destroying a church garden?
620 10th Street [Betancourt]GMAP
620 10th Street Hits the Market [Brownstoner]
Development Watch: Facade Phase at 620 10th Street [Brownstoner]
Slope Church Garden Goes Condo [Brownstoner]

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According to their website, "The Church of Gethsemane provides programs for our worshipping community, men and women returning home from prisons, and people who are presently incarcerated."

A worth cause indeed, but perhaps folks are reluctant to pay over $1000/sf to live next door?

Posted by: SnarkSlope at March 2, 2009 11:41 AM

this place went up fast. I like the area but not for that much money.

Posted by: Santa at March 2, 2009 11:50 AM

i heard it's built on an ancient Native American burial ground, hence the name Iroquois. I saw Poltergeist; no way i'm stepping foot in there!

Posted by: Fjorder at March 2, 2009 12:08 PM

I will definitely look at this place. I am still in the market for a 3-bed in the slope, and I might want to buy one of these places when the asking prices have been reduced by 35% in six months.

Posted by: lechacal at March 2, 2009 12:08 PM

Can't comment on the "karma". But for new construction, the build quality looks good and it works well on the street. Definitely a cut above what you usually see in South Slope.

Posted by: new2 at March 2, 2009 12:27 PM

The asking prices are more historical than hysterical at this point.

Posted by: dittoburg at March 2, 2009 12:55 PM

Pricing is not only absurd, but offensive...$1,000+ per sf for a new SS condo in this market?

Good luck with that.

Posted by: appoggiatura at March 2, 2009 1:00 PM

Pricing is not only absurd, but offensive...$1,000+ per sf for a new SS condo in this market?

Good luck with that.

Posted by: appoggiatura at March 2, 2009 1:00 PM

Is 10th and 8th ave considered SOuth Slope? It is past 9th St, but doesn't feel like South Slope

Posted by: Troy McClure at March 2, 2009 1:03 PM

It's even more than $1,000+/sf. The $1,995K 2 bed is only about 1,000 sq ft -- they charge full price for the terrace! That truly is hysterical!

Posted by: BH76 at March 2, 2009 2:50 PM

"south slope" isn't a precise enough description these days. if you're buying a family size apartment south of ninth street, what you care about is whether your place is in ps 107 or not. this place is indeed in 107, so i think they deserve a bit of a premium for that. but *this* much premium? um, no.

no reason for them to cut prices until spring though, since they look to be many months from a c of o?

Posted by: ronvalron at March 2, 2009 2:54 PM

This design is actually not bad for the area. Good use of brick with glass...makes NOVO look uglier.

Lechacal we seriously think you have an excellent shot: "I might want to buy one of these places when the asking prices have been reduced by 35% in six months".

Posted by: pierre de taille at March 2, 2009 3:30 PM

What I find laughable as I walk by these everyday is that the largest units though prices a little lower on per SQ FT basis included nearly 1/3 of their space in the cellar. Given that this building is really at ground level (i.e. no steps up to the front door) this would truly be no light entering cellars for which you are paying really high per SQ FT prices.

Would love to live there but with 2 three family brownstones on the street for 1.8M there is no way I can see demand for these at anything close to the prices listed.

Posted by: bpmendoza at March 2, 2009 5:33 PM

"Would love to live there but with 2 three family brownstones on the street for 1.8M there is no way I can see demand for these at anything close to the prices listed."

Perhaps you might want to set foot in one of those 2 three family brownstones. Don't forget to add the cost to gut those and rebuild into something worth paying for...

Posted by: raphael9 at March 2, 2009 6:32 PM

Prices are historical and hysterical. The area is definitely South Slope, which is nothing to be bothered about. The much bigger problem is 8th Ave. That road is loud, loud, loud and I don't care how well insulated the windows are, I'm not paying $1.3m to hear the buses and trucks and honking 24/7. I am speaking as someone who has just come off of a 4 yr stint on 8th Avenue on the SIXTH floor. Waaaay too loud.

Posted by: slope72 at March 2, 2009 9:52 PM

What a monstrous design. I thought that area was landmark status. How can something like that get built there? It's like a college office building destroying the feel of that block. It makes me so sad.

Posted by: brooklynlorax at March 3, 2009 7:00 AM

"Perhaps you might want to set foot in one of those 2 three family brownstones. Don't forget to add the cost to gut those and rebuild into something worth paying for..."

Yeah, but there was a nice fully renovated single family brownstone for 1.6M down this block between 6th and 7th Ave that is now in contract. And all of the brownstones in question, multi or single family, are have more above grade square footage than any of these units from 1.3-2M.

I think the prices are ridiculous. But perhaps it is a different niche than the townhouse market.

Posted by: metaphase at March 3, 2009 9:00 AM

Why would anyone buy here?
These are overpriced and located on a busy, noisy location.
Ambulances, fire trucks, TRUCKS etc....DAY N NIGHT all pass by this location.ugh! Lived in this area in a rental nearby.
Did I say and OVERPRICED!
They are asking ridiculous Manhattan prices.
Who is Betancourt? Some new broker in the area working for 2-3% commission?

Posted by: tjj at October 27, 2009 1:31 PM

« From Condo to Hostel in Greenpoint 38 Putnam Cleaning Up Its Act »

March 2, 2009

Checking In On The Iroquois

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