« No Shortage of Demand for Checkers Brooklyn Food & Drink Round-Up »
July 1, 2009
Checking in on The Elan
Has the Elan, a 32-unit condo on 1st Street between 4th and 5th avenues, been the victim of bad timing, unrealistic expectations, or both? When we last took a look at the development in March, a round of price cuts had just been implemented, and five of the units were in contract. Three months later, although StreetEasy now shows no in-contract units, one of the condo's brokers says that seven units are, in fact, in contract—though not all of those are sure-fire closings, since the TCO took longer to materialize than the offering plan stipulated. However, the TCO finally did come through a couple weeks ago, and the first closing is scheduled to happen this weekend. Prices for units at the building range from $949,000 for a 3-bedroom to $599,000 for a 1-bed.
Price Cuts at The Elan [Brownstoner]
255 1st Street [StreetEasy] GMAP
Trackback Pings
TrackBack URL for this entry:
http://www.brownstoner.com/mte/mt-tb.cgi/10279
Comments
omfg, I can only imagine the smell from mickey D's wafting up into those apts 24 hrs a day. nimby nimby nimby!
Posted by: bowl of dicks at July 1, 2009 11:06 AM
the master bedrooms in these apts are literally as big or bigger than the common living space. SO crazy.
Posted by: gkw at July 1, 2009 11:08 AM
LOL i giggle everytime i cut thru parking lot. also that corner really DOES reek of burgers and frying fat at all hours. having a balcony right on top that must be gross. especially at those prices.
*rob*
Posted by: PitbullNYC at July 1, 2009 11:08 AM
Rob that is total B.S. I walk by there virtually 4x a day - 365 days a year and it doesnt smell like Burgers, Fries or anything else. In fact if you smell anything like that it is FAR more likely that it is wafting over from Bonnies Grill whose cooking can stink up a 3 block radius.
That being said, as nice as it would be to be able to add McDs Fries to virtually every meal - it is still a lousy location and pretty ugly building
Posted by: fsrg at July 1, 2009 11:17 AM
That's a ton of money to live in that. Today I heard someone complaining that a renovated 900 square foot 2 bedroom convertible on the UES (80's) was too expensive at 600K. I fear for Brooklyn's correction.
(Well, not fear, since I don't own. Morelike, "anticipate with glee," technically.)
Posted by: Heather at July 1, 2009 11:22 AM
FSRG, what are you a buyer or broker for this building? i have walked on that corner every single morning and evening for the last year and YES IT DOES SMELLY LIKE MICKEY D's.
*rob*
Posted by: PitbullNYC at July 1, 2009 11:24 AM
No Rob (and I doubt a broker or buyer would comment on the uglyness or bast location) -
Whatever you say - luckily your past comments means you have little credibility.
Bottom line - its a crappy location (next to McD) but it doesnt smell....
Posted by: fsrg at July 1, 2009 11:40 AM
Regardless of whether McD's stinks, I agree that Bonnie's puts out a lot of stink, much more than you would think given its size.
Posted by: jawbreaker at July 1, 2009 11:43 AM
what does that even mean? i am a very credible person and far from a phoney. why is it so absurd that i can smell mcdonalds when i walk thru the parking lot!? maybe you need get fix your smella, fella. (and im a heavy smoker btw and can even smell it)
*rob*
Posted by: PitbullNYC at July 1, 2009 11:45 AM
Heather, forgive me if I sound like a dick, and I think we are both in the same position wanting prices to get cheaper, but I would really hate to live in either of the sides of Manhattan. I would also hate to raise a family there, if that time ever comes. So, I am not looking to ridiculous Manhattan douchbag buyers prices to tell me how bad the correction will be. Also, a seller in my building just put his Park Slope 1-bedroom apartment on the market and it went into contract in 4 days. Also, for more than any other apartment has sold in the building. So Manhattan v. Brooklyn, be damned.
Posted by: LincolnSlope at July 1, 2009 11:48 AM
I've been to that building twice. The high-end apartments are real nice but everything else: The layouts are really bad. Structural elements everywhere, barely any flat walls. The 600k 1BR doesn't have ONE straight wall in the bedroom and it can barely fit a twin bed. It's like living in a 3D crossword puzzle.
Posted by: IronMaiden at July 1, 2009 11:52 AM
I know a number of McDonalds that stink outside. Not all though, which is weird becuase I though they all used the same equipement and products.
Posted by: dittoburg at July 1, 2009 12:00 PM
Puke...another Bricolage special?
Definitely an good addition to the clientele at the McDonalds.
I think we can safely say we have reached a new low in, dare I say, Brooklyn architecture.
Posted by: Action Jackson at July 1, 2009 12:04 PM
I totally agree with IronMaiden. Elan was the only condo building we were literally laughing out loud when we saw apartments. I think they were designed by a drunk dude or a 3 year old. Not a single straight wall, bedrooms in a middle of living rooms, crazy corridors with 3 turns to reach bathrooms.
600k for that 1 bedroom monstrosity? Are you kidding me. I'm not even talking about 4th Ave (which is really just an extension of Sunset park with bodegas and car repair shops) and McD stinking up the place.
There are a lot of much much much nicer condos elsewhere if you just care to look.
Posted by: loty at July 1, 2009 12:06 PM
kudos to brownstoner for always including the McDs in the shot. funny.
Posted by: joe_the_bummer at July 1, 2009 12:07 PM
does the total absence of windows on the west side indicate that they think something else is going to be built where the McDs is?
Posted by: joe_the_bummer at July 1, 2009 12:08 PM
I think its like when they build condos in greenpoint with a blank wall facing the sewage works trying to pretend it isn't there.
Posted by: dittoburg at July 1, 2009 12:12 PM
ditto, same as gowanus: "brown stone" brooklyn
Posted by: joe_the_bummer at July 1, 2009 12:14 PM
Perhpas they could hand out some horse blinkers
Posted by: dittoburg at July 1, 2009 12:20 PM
that's right Joe, that's a lot line, so, no windows. Not only that, the red whse across the street is a prime development candidate when things turn around, in fact Katan already has something going on there. So those views go also.
Posted by: denton at July 1, 2009 1:03 PM
denton your right about the Warehouse being a good spot for future development BUT Katan,Fatato and Boylemgreen have been in litigation over that spot for years with the people who built the Heritage (Bergen Paint) so I'm not so sure that it is exactly going to be the 1st development during the next boom (whenever that comes)
Posted by: fsrg at July 1, 2009 1:09 PM
Been in the building. Layouts are crazy. One unit had a bathroom where you had to walk around a column to get to the fixtures. Wall facing west can't have windows because it's built on the lot line and clearly air rights were not purchased. Broker indicated they were taking bids in the $650/s.f. range. I personally don't like buildings with through the wall a.c./heating units; the annual electric charges can run 4k! Since there are only 3 units per floor (2 on the top floors) you would think the architect could have come up with better layouts. Some bedrooms are ridiculous in their proportions. Balconies are narrow. Am wondering which bank will provide financing since most require 50% or more of units to be in contract before closing. This developer has whopping $14,650,000 construction loan per ACRIS which comes to over 450k per d.u. When you figure monthly interest charges and other soft costs the profits are dribbling away. Buyers beware: most of your neighbors will be renting!
Posted by: MarionG at July 1, 2009 1:17 PM
man, that has to be the ugliest building in the boro.
Posted by: prezst at July 1, 2009 4:40 PM
I don't know about the McD's, but you can definitely smell the KFC from the other side of 4th Ave when the wind is blowing the right direction.
Posted by: DitmasSnark at July 1, 2009 5:09 PM
^^^ To clarify, not at this location. ^^^
Posted by: DitmasSnark at July 1, 2009 9:34 PM
bad timing? unrealistic expectations?
How bout just plain ugly!!!
Posted by: richierich at July 1, 2009 11:21 PM
Latest Restaurant Additions
-
Chickadee Chick
added November 6, 2009 12:00 PM in Park Slope -
Vutera
added November 5, 2009 12:00 PM in Williamsburg -
Park Cafe
added November 4, 2009 12:00 PM in Park Slope -
Bahia
added November 3, 2009 12:00 PM in Williamsburg -
Aqualis Grill
added November 2, 2009 12:00 PM in Fort Greene -
Wombat
added October 30, 2009 12:00 PM in Williamsburg -
Organic Heights
added October 29, 2009 12:00 PM in Park Slope -
Giardini Pizza
added October 28, 2009 12:00 PM in Carroll Gardens -
Rye
added October 27, 2009 12:00 PM in Williamsburg -
Bati
added October 26, 2009 12:00 PM in Fort Greene
Post a comment
Please be patient while your comment is published. It may take a moment.