14 Hope Street Takes a Mulligan

Presumably Tom Le won't be one of the roadkill referenced by Corco chief Pam Liebman earlier this week. Le was named the 2008 Williamsburg Salesperson of the year, and now he's gone and snagged all the listings for 14 Hope Street from the clutches of Douglas Elliman. In a stroke of bad timing, the 23-unit building hit the market with Elliman last November was pulled at the end of March. Corcoran just re-launched the property this week new prices that, according to a discussion on StreetEasy, are 10 to 15 percent lower than they were last go-round. According to Le's listings, only seven units have been released yet. You can get an early look at the open house on Saturday. Anyone check these out when they were listed with Elliman? GMAP

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Not a great location - and overpriced of course. Unless someone is willing to pay to be close to Hope Lounge (and easy cocaine access)

Posted by: dirty_hipster at May 8, 2009 11:43 AM

this looks like an attractive building. Am not sure about the location. I suppose all of non-hassidic williamsburg is "hot" right now. I will have to go by and check it out.

Posted by: sam at May 8, 2009 12:04 PM

on a map it may look like a good location - but this stretch of Hope is terrible. Sam, if you wanna check it out go by at midnight on a saturday.

Posted by: dirty_hipster at May 8, 2009 12:36 PM

I like the building just wish it was in a better location

Posted by: Amzi Hill at May 8, 2009 12:59 PM

Actually, with the concessions (covering closing costs, storage unit etc.) pricing seems alright. Also, you are near that nice stretch of Havemayer that is tree-lined, lots of stuff on Grand (including Walter Foods), and, although you have to walk under the BQE, the L and G train. All in all, I like these units at about $625/SF, below the current asking prices for most of the units but close. The top floor units seem to be priced a bit aggressively still.

Posted by: king of the burg at May 8, 2009 1:08 PM

So, how long before these are down to $500/sf?

Six months? A year?

Posted by: SnarkSlope at May 8, 2009 1:33 PM

Don't see that happening. Probably go rental first, wait for market conditions to improve, and sell out the condos in a year or so.

Posted by: king of the burg at May 8, 2009 1:41 PM

Good one.

Posted by: SnarkSlope at May 8, 2009 2:00 PM

i actually really like this location a lot. it's very charming a pretty. Havemeyer is full of trees right there, and there is so much do within a couple of blocks plus the newish C Town down the block. you've got all the bars restaurants and shops of both metropolitan and grand right there!

Posted by: wine lover at May 8, 2009 2:13 PM

Pretty decent looking inside and out, and they have a two bedroom with 970 sf for $705,000. Isn't it impossible to find a real two bedroom in Park Slope for less than $750,000? Or you can avoid the Sex and the City girls and get a huge prewar three bedroom walkup in Jackson Heights for $350,000. And you'll spend less on food -- though maybe you will wish you didn't.

Posted by: mopar at May 9, 2009 12:05 AM

Hey King -- do you really think prices will be going up in a year? Even if the economy recovers in the next year, the massively inflated real estate prices won't be rising anytime soon. Prices are still going down with one of the lowest mortgage rates in decades. All that 'made up' money that increased the prices since 2000 doesn't exist anymore. Until prices get in line with incomes - little Condos wont be appreciating - unless there is massive inflation. The rest of the country has contracted massively, NYC just barely.

Posted by: tippingpoint at May 9, 2009 7:15 AM

Mopar, you can pay a lot less. It all depends on what you mean by "real" and "Park Slope."

Posted by: SnarkSlope at May 9, 2009 10:09 AM

i have lived on this block of hope street for 12 years
its a great block
still has the industrial vibe of old williamsburg
its close to all
you can walk 5 blocks and get on the Bedford L
from the driggs entrance
the c-town is great
and there are so many great restaurants around the corner
flying cow on hope/roebling has great steak
within a block is malta, caracas, bozu, walter foods, fiore, lodge, general store, m shanghai, rose, atlas cafe, fete sau, roebling tea room ...
so many great places
the knitting factory is opening a block away as well
whats more this area is a microcommunity in williamsburg
there is an independant vibe from the chaotic bedford scene
and people tend to be very neighborly

i have toured the units of 14 hope
and have to say the building is very well put together
everything looks solid and long lasting
unlike most developments these days
the layouts are really spacious with lots of closets
definitely a great building
in what i think is a great location

Posted by: hermitport at May 9, 2009 1:31 PM

Took a look inside, not impressed at all. While they are using name brand appliances, they seem to be entry level models from several years ago and lack any taste or style compared to similar listings. *cough*rentals...

Posted by: soultasto at May 13, 2009 12:03 AM

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May 8, 2009

14 Hope Street Takes a Mulligan

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