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July 10, 2009

Red Hook Townhouse Project Not Flying Off Shelf

Apparently buyers are not willing to pay a kingly sum for the new Tuscan-style townhouses in Red Hook. Four of the newly-constructed homes at 93, 95,97 and 99 King Street hit the market last August at $1,300,000 while a fifth was priced at $750,000. None of them have sold to date, prompting two price cuts in the last three months that, Curbed noticed earlier this week, have brought the asking price on the four larger properties down to $999,000. The main living spaces with the concrete floors look kinda cool (as long as you don't place a premium on natural light) but the upstairs bedrooms aren't cutting it in the looks department for us. Plus, these houses are only 2,000 square feet, so the new asking price only brings the cost down to $500 per foot.
146 Richards Street [StreetEasy] GMAP
Red Hook Townhouse Project On the Market [Brownstoner]
"Tuscan" Townhouses Coming to Red Hook [Brownstoner]

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Comments

Isn't Olive Garden also "Tuscan Style?"

Posted by: daveinbedstuy at July 10, 2009 10:34 AM

$999,000 for one of these. How much is rent in the Housing Project across the street? That might be the better deal.

Posted by: Sparafucile at July 10, 2009 10:38 AM

500 per square foot in that location is still WAY too high. My house in Clinton Hill was only 350 per square foot.

Posted by: wasder at July 10, 2009 10:41 AM

this would be great for vampires. They should hand out fliers at a goth party. No windows

Posted by: brickoven at July 10, 2009 10:48 AM

LOL brick

*rob*

Posted by: PitbullNYC at July 10, 2009 10:50 AM

The vacant lot next door doesn't help matters any.

Posted by: East New York at July 10, 2009 11:04 AM

Mr. developer- take a basic real estate class. Charging over a million bucks next to the projects is a basic no no. DUH. And the bank that financed this project, your stupid too.

Posted by: billyboomer at July 10, 2009 11:05 AM

Wasder, but the garage and proximity to Fairway and the water is clearly worth the premium over your 350 sq/ft right? isn't red hook a ton better than clinton hill?

Posted by: more4less at July 10, 2009 11:07 AM

Oh, that's not just any run of the mill vacant lot... it also contains all the garbage from the building of the beauties. Heaps of trash - SO Tuscan.

Posted by: mshook at July 10, 2009 11:08 AM

Isn't this the place where your car has the best spot in the unit? That gorgeous door and sunlight- for your car- made no sense. The layout is awful, no windows. What were they thinking?

Posted by: bxgrl at July 10, 2009 11:11 AM

But the RE rrenderings show that it's surrounded by lush trees and foliage.

They wouldn't mislead us would they??

Posted by: TownhouseLady at July 10, 2009 11:13 AM

"isn't red hook a ton better than clinton hill?"

I assume this is sarcasm M4L....If not, Fairway is nice of course, and I go there all the time, but otherwise you would have a hard time telling me that Red Hook would be preferable to live in over Clinton Hill. But that comes from a guy with kids. Maybe for a single person its a different equation. Super difficult transit situation over there.

Posted by: wasder at July 10, 2009 11:23 AM

er.....no. Of course not, THL! How can you even think it? :-)

Posted by: bxgrl at July 10, 2009 11:23 AM

Since M4L lives in Clinton Hill and has a wicked sense of humor, I think it's safe to assume sarcasm, wasder :-)

Posted by: bxgrl at July 10, 2009 11:27 AM

Aha--somehow missed the memo on M4L and Clinton Hill!

Posted by: wasder at July 10, 2009 11:30 AM

"...but the upstairs bedrooms aren't cutting it in the looks department for us. Plus, these houses are only 2,000 square feet, so the new asking price only brings the cost down to $500 per foot."

Advertiser extorsion. Gangsta!

***Bid half off peak comps***

Posted by: Brownstones Half Off at July 10, 2009 11:31 AM

You can't really compare Red Hook and Clinton Hill. Not that one is better than the other, they are just so different.

Posted by: dirty_hipster at July 10, 2009 11:40 AM

Wasder, definitely sarcism. I like Red Hook but prefer the "Hill"

Posted by: more4less at July 10, 2009 11:47 AM

I like Red Hook the two months a year the pool is open. Otherwise, not so much.

Posted by: Sparafucile at July 10, 2009 11:48 AM

if it's NYCHA next door they pay an average of 384 a month per family. You would pay 4,542 plus maintenance, assuming an 800K mortgage. But I think the authentic Tuscan touches are easily worth it.

Posted by: joe_the_bummer at July 10, 2009 12:06 PM

Someone please explain the "dining room" on the floor above the kitchen between the bedroom and the bathroom.

Who the heck is transporting food and dishes up-and-down those stairs for every meal?

Posted by: northsloperenter at July 10, 2009 12:10 PM

"Who the heck is transporting food and dishes up-and-down those stairs for every meal?"

The help. People who live in million-dollar Tuscan villas should have servants.

Posted by: Sparafucile at July 10, 2009 12:25 PM

The living room is very long- long enough to have a dining area by the kitchen (which in the staging they actually do). Why they would label an upstairs bedroom a dining room is beyond stupid- and confusing. I still can't get over how the best space in the house holds your car. How fabulous that door would have been as a feature of the living room.

Posted by: bxgrl at July 10, 2009 12:31 PM

Red Hook is awesome, but it's going to be a long time before it's worth that much to live next to the worst thing about it (or anywhere in nyc really)

Posted by: Billiamsburg at July 10, 2009 12:33 PM

"I still can't get over how the best space in the house holds your car. "

Seriously.

Do you get a car when you buy one of these places?

Posted by: northsloperenter at July 10, 2009 12:34 PM

Don't forget that there is ONE CLOSET IN THE ENTIRE HOUSE, and it's off the kitchen.

Posted by: zinka at July 10, 2009 12:44 PM

Wait, those are new? Sheesh.

It would be okay if they were old, converted-into-residences, buildings since they'd be more "picturesque" than ugly.

But if they're new, that means they made conscious decisions to uglify the street AND overcharge for them.

Tuscan? Ummm....

Posted by: StructureHub at July 10, 2009 12:49 PM

The angle of the photo gives the impression that the massing of these "townhouses" echo the towers of the housing project. I'm sure that I'm crediting way more design intent and creativity than was actually present during the conceptual stages of this project.

Posted by: BrooklynButler at July 10, 2009 12:53 PM

are these new construction?

the impression i got from the post a few weeks ago that it was a conversion. Although, it looks like that top part is an addition.

Regardless - bad layouts, less than ideal location, too much $$$

Posted by: dirty_hipster at July 10, 2009 12:55 PM

This puts the car in carbuncle.

Posted by: sam at July 10, 2009 12:58 PM

It is basically new construction. The bottom part was an existing one-story building that was probably totally gutted and certainly reclad in that ugly alternating-color brick.

Posted by: zinka at July 10, 2009 12:58 PM

one closet? Well, that effectively knocks the female half of the human race.

Anyone notice the floor plans show 2 full baths with tub but the picture shows an open shower- with no enclosing shower wall? With an open shower who uses a curtain? Jeesh.

Posted by: bxgrl at July 10, 2009 1:04 PM

I'd take a garage over a few closets any day. But Ida thunk they would have put in a skylight to that 1st level from terrace.

and there are certainly places that have sold for more than $1m across from projects before.

Posted by: Petebklyn at July 10, 2009 1:06 PM

this thread is no fun. there's no one who loves these units to defend it.

Posted by: more4less at July 10, 2009 1:11 PM

petebklyn- try living in a place with no closets. You'll be storing your stuff in your garage.

Posted by: bxgrl at July 10, 2009 1:11 PM

Did the realtor photoshop the telephone/electrical wires out of that picture of the front of the building?

Posted by: northsloperenter at July 10, 2009 1:16 PM

1. Parking in Red Hook is easy as it is- why would you want a freakin' garage in the first floor that takes away your space? I could understand in other areas...
2. Anything next to public housing, Tuscan influenced or not, is never going to be worth the million dollars you pay for it. d-u-m-b

Posted by: ChiliDog at July 10, 2009 6:31 PM

Not sure if the DMV is still conducting road tests there, but if they are, would not dare leave the house and cross the street on weekdays. Very dangerous place due to road tests being conducted there. It is OK on weekends. If you can afford it, use this as your weekend getaway. There is a small beach near Fairway and you can also park your sailing boat there within easy walking distance to the apartment. Ideal for weekends. Really. Best sunsets with sun setting right next to Statue of Liberty with sailing boats in front. What more can you ask for? Very Tuscany-like. Totally like Livorno. Forget Italy. They all came here anyway.

Posted by: supereks at July 11, 2009 10:29 AM

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July 10, 2009

Red Hook Townhouse Project Not Flying Off Shelf

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