« Inside Third & Bond: Week 88 House of the Day: 78 Douglass Street »

June 18, 2009

Condo of the Day: 970 Kent Avenue, #107

This two-bedroom, two-bath loft at 970 Kent Avenue in Bedford Stuyvesant has a nice light and airy vibe to it, enhanced by 13-foot ceilings and large windows. We also like the open layout of the living area. The monthly common charges come to $898, not unreasonable for a 987-square-foot pad. Do you think the asking price of $488,000 will fly?
970 Kent Avenue, #107 [Brown Harris Stevens] GMAP P*Shark

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not feeling that view out the LR windows.

Posted by: bowl of dicks at June 18, 2009 12:42 PM

> not feeling that view out the LR windows.
Not feeling the view of the kitchen!!

> Do you think the asking price of $488,000 will fly?
See how they run like pigs from a gun, see how they fly.

Posted by: Expert Textpert at June 18, 2009 12:52 PM

I looked at this place years ago when it was still under contruction. Looks as though the prices have come back down to where they started orginally. I thnk it was 2004 maybe?
The West facing units face the back of another builidng so you need to be on the higher floors to get an type of view. Pretty close to Pratt but you got the PJ's just down the block. They have some weird track as an amenity that I didn't get as it was really small and would feel like running in circles. The space are really nice and expansive though. Real Open and Airy.

Posted by: Adam Dahill at June 18, 2009 12:56 PM

Was underwhelmed when I saw these and the block is terrible.

Posted by: DeLepp at June 18, 2009 1:09 PM

That's a lot of common charges, especially since it doesn't include real estate taxes like for a coop. They have an abatement now, but it will be an expensive proposition once the abatement expires.

Posted by: rf at June 18, 2009 1:12 PM

Its a nice building and yes some condo's look straight at the Taaffe Lofts on the next block.
(btw the Taaffe corporation owns the low rental building next to this condo building)
I believe there are more condo's for sale in this building and the prices have been going down...
The Block is ugly and kindof deserted because of a School across the street.
Further more you will find on this street some old brownstones and a gated condo complex. On the corner of Dekalb ave is a sketchy deli where the local PJ kids "hang" and cause trouble at times.
The neighborhood is great but can be edgy at moments. Part of the deal when you decide to live here.

Posted by: dutchman at June 18, 2009 1:21 PM

"Do you think the asking price of $488,000 will fly?"

No.

Posted by: dirty_hipster at June 18, 2009 1:23 PM

There is another BHS listing on the 7th floor that just came on the market too... http://www.brownharrisstevens.com/detail.aspx?id=1021851
Personally, I'd rather live on the 7th floor, rather than face the common building courtyard.

Posted by: Downing2fam at June 18, 2009 1:27 PM

the police station is right there - free bldg security. that along is worth 300k+

Posted by: more4less at June 18, 2009 1:43 PM

i looked at several apartments in this building. i thought the big open interior space was great - and the high floor apartments really have nice light and views. but the commute is a pain with only the G there and, i've had a lot of friends who lived in the area and, for various reasons, after a few years they were all itching to move elsewhere.

also, i looked at an apartment with a very similar view to the BHS listing and it went for 525K (or under, maybe) sometime in late 2007/early 2008. so, i'd say 488K is overpriced for a no view unit, and 525K is overpriced for a view unit - gotta cut at least 12-15% off peak comps to get interest right?

Posted by: perhaps at June 18, 2009 2:33 PM

"Do you think the asking price of $488,000 will fly?"

Only with donkeys. LG is always watching.

***Bid half off peak comps***

Posted by: Brownstones Half Off at June 18, 2009 3:00 PM

The common charges posted reflect an assessment put on all the apartments. The true charges are closer to 550. Also, the building has a J51 abatement for another 12 years or so. My taxes are $1 a year currently.

Posted by: e10b at June 18, 2009 3:34 PM

you're out of your mind for 500/sq ft plus 900 a month. That's a prospect heights price, at least.

Posted by: joe_the_bummer at June 18, 2009 3:54 PM

I'm a former resident of the building. It's really a nice place - Great community of residents, most of whom care very much about the building and the quality of life there. The units, in general, are very good compared to what else is out there in the 450-550/sf range. If you're looking for a true loft space (concrete ceilings & beams, open plans, lots of windows and light) this building fits the bill. The upper floor units, particularly in the rear face due west (I enjoyed spectacular sunsets most nights) overlooking Pratt's campus, downtown Brooklyn and lower Manhattan. Maintenance isn't really as high as posted - it's likely a special assessment to bolster the building's reserve. What's nice is that the building doesn't have the cold feel of most new developments - it has a warmth to it and that's also reflected in the community who lives there (over 100 units, so it's a big community.) Is it high-end construction with superior finishes and located in Dumbo? No, and that's reflected in the pricing.

Posted by: archetart at June 18, 2009 4:06 PM

I'm not sure where else in close-in Brooklyn you can get the square footage for that price in a CONDO.... that being said, I'm not sure it's a great price. For the same money you could go about 6 blocks up into the Bedstuy-Bushwick neighborhood and get an entire house.

And I'd argue that that is a better neighborhood, that 6 blocks up.

Posted by: Heather at June 18, 2009 7:34 PM

"Maintenance isn't really as high as posted - it's likely a special assessment to bolster the building's reserve." On a five year old conversion?

I looked at these when they were under construction and although not totally put off by the location, I thought the offering plan prices were high for back corner of Clinton Hill. Interesting to see that there has been almost no appreciation from the initial offering--that tells me something about the location too.

Posted by: altervoce at June 19, 2009 9:43 AM

I think the bottom line is if you're looking for a converted loft, rather than new construction, the price is more than reasonable - it's a steal. Comparable loft conversions in either Dumbo, Williamsburg or Bushwick command far greater $$$ or have other significant drawbacks (lots of windows but no views/light; desolate locations; lesser quality amenities, etc.)

Posted by: archetart at June 19, 2009 12:15 PM

Also regarding raising a building reserve on a new building? Absolutely. Most new buildings aren't left with any reserve by their developers. Better to have a reserve and cash ready than to slam owners for an emergency assessment.

Posted by: archetart at June 19, 2009 12:17 PM

Pretty nowheresville as far as transit goes.

Posted by: serpentor at June 20, 2009 12:27 PM

I have a friend who lives in the building and have looked at a couple apartments myself.

The only subway near the building is the Classon Avenue stop on the G train, and the G train is not the most reliable of subway lines.

The first time I visited the building was about 6:00 on a weekday evening and there was a drug deal going down on the corner of DeKalb and Kent Avenue as I was walking to the building. The block was also lined with trash.

I have the admit, both apartments looked very nice. But they were freezing cold. This was last March, a strong breeze was coming through the closed windows of both apartments that I looked at, making me wonder about how well they were installed.

I also noticed several dog urine stains on the floors of the hallways. And the second time I visited the building there was actually a fresh pile of dog crap in the hallway.

My friend tells me that the building recently fired it's second super after six months because he couldn't control the staff. I'm not surprised as when I visited the building I walked right in and the doorman didn't even look up from his GameBoy. He also told me that the first superintendent would shake down residents and contractors, and that's why he got fired.

Finally, as I was leaving the building one time, a kid from the school across the street threw a rock at me. It whizzed right past my head and hit the glass front door. The doorman told me that as winter turns to spring all the "n*gger children" start acting up. I kid you not.

Posted by: BklynMusic at July 1, 2009 11:45 AM

« Inside Third & Bond: Week 88 House of the Day: 78 Douglass Street »

June 18, 2009

Condo of the Day: 970 Kent Avenue, #107

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