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March 17, 2009

Price Cuts at The Elan

elan-255-1st-street-0309.jpgThe Elan, the 32-unit development at 255 1st Street at 4th Avenue in Park Slope, has had a tough slog since debuting last May. With only five units in contract according to StreetEasy, it's no great surprise that there was a round of price cuts at the end of last week: Most units were reduced by between 5 and 10 percent. Maybe they would have had more luck if they'd stuck with the original (mis)name of The Gowanus. Currently Corco, Warren Lewis and A.D. Shaye have the listings. GMAP




Posted by Brownstoner at 10:44 AM | Comments (15)
Categories: Condos, Park Slope

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Comments

Would you like fries and a pie with that?

Posted by: SnarkSlope at March 17, 2009 10:46 AM

Looking at a sample listing, in which Corcoran states that $662,000 for a one bedroom apartment is "Simply the best deal in prime Park Slope," I am shocked that these are not flying off the shelves.

Posted by: SnarkSlope at March 17, 2009 10:50 AM

Of course it's a great deal! Who doesn't want to live on a highway?

Posted by: InsertSnappyNameHere at March 17, 2009 10:52 AM

Rent.

To.

Own.

Posted by: 11217 at March 17, 2009 10:54 AM

that's my block! yay! i always wondered about that building, it's been empty forever. have been even moved in yet? the only problem tho is that the mickey d's on that corner where it's next too kinda smells all the time. does anyone remember what the sign says on that building? it's kinda funny but im totally blanking on what it says right now... also are those whole floor thrus? there are no windows on the side of the building but i guess cuz it's a lot line?


*rob*

Posted by: PitbullNYC at March 17, 2009 11:00 AM

This really is a prime location for anyone that is passionate about Big Mac's and auto repairs.

Posted by: jdoo at March 17, 2009 11:08 AM

Cut the price by 30-40% or rent the units , it's that simple.

Posted by: rdl1972 at March 17, 2009 11:12 AM

This place is hugely over priced even at 07 prices. Interestingly the Heritage, a block over on 2nd St looked pretty much sold out when i walked by last week. All the front apartments had people in there so at the right pricing points new condos are selling in this area. Anyone know how the Crest and NOV sales are going ?

Posted by: 10thStreetReno at March 17, 2009 12:28 PM

Name has no bearing. At least it's on the "right" side of 4th. No sales, huh? Sales started in May '08, huh? Financing must be tough for the prices they want. Renters should view the units now for possible summer offerings.

***Bid half off peak comps***

Posted by: Brownstones Half Off at March 17, 2009 12:59 PM

How about a link to those listings?

Posted by: Brooklyn Chicken at March 17, 2009 1:17 PM

Chicken, peck at the Streeteasy link above.

Posted by: SnarkSlope at March 17, 2009 1:50 PM

I always wanted to live on a highway.

Posted by: Xander Crews at March 17, 2009 3:13 PM

For listings, just click on that StreetEasy hyperlink.

Posted by: brownstoner at March 17, 2009 3:17 PM

For the Cocorean group everything is prime. They could try to sell rotten chop meat for lucious prime rib. Everyone pretty much doesn't believe a word of what Cocorean says anymore. Their signs keep popping up left and right in the neighborhoods because Cocorean tells the dillusional homesellers what they want to hear. That is that their homes are worth millions and that the prices are only going up. The problem is Cocorean and alot of other pump and pump some more real estate agents are having a very difficult time trying to lower prices for sellers when not so many months ago they overpriced the homes to the same people who are trying to sell now. I smell fraud and legal suits all over.

Posted by: hannible at March 19, 2009 11:09 AM

Well Elan (255 1st St) is not on 4th ave, it is on 1st St., which happens to be a good block.
Elan is zoned for P.S. 321 which is very good. And all the good features of Park Slope are a few blocks away.
Now that the asking prices are low ($660,000) for a 2 bedroom 1055 sq. ft are very good given the quality of construction and the building's features (I have been to Novo and Crest and their contruction and style don't come close to Elan). If enough potential buyers get together, the issue of getting a mortgage would no longer be an issue. This is the time to buy in Park Slope since the prices are so low.

Posted by: InterestedToo at April 18, 2009 11:00 PM

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