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July 10, 2009

Price Cuts at The Sanctuary

the-sanctuary-cumberland-0709.jpg
All things considered, things have worked out pretty well for the developers of The Sanctuary, the converted church and adjacent row house at 264 Cumberland Street in Fort Greene. The 13-unit project hit the market in May 2008, and by the end of the year five units were in contract. Since then, another five have been spoken for, leaving just three available apartments. To try to wrap things up, the asking prices on all three were reduced last week. There's an open house on Sunday from 12 to 2 p.m.
The Sanctuary Condos [StreetEasy] GMAP P*Shark
Condo of the Day: 264 Cumberland Street [Brownstoner]




Posted by Brownstoner at 10:59 AM | Comments (22)
Categories: Condos, Fort Greene

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Comments

whoa 13 apartments! damn they pack'em in like sardines. gosh i guess they must've made a pretty penny on that project.

13 apartments...hahahaha

Posted by: ftgreenepark at July 10, 2009 11:12 AM

"...the asking prices on all three were reduced last week."

There goes your contracts!

***Bid half off peak comps***

Posted by: Brownstones Half Off at July 10, 2009 11:14 AM

Do you know how to read, BHO?

It says those 5 went to contract at the end of 2008. Surely they have closed by now.

And i'm not seeing what's funny about 13 apartments. That townhouse is huge, plus the church space makes it quite easy to see how there would be 13 apartments.

Posted by: 11217 at July 10, 2009 11:18 AM

11217,

"Since then, another five have been spoked for..."
"Since then, another five have been spoked for..."
"Since then, another five have been spoked for..."
"Since then, another five have been spoked for..."
"Since then, another five have been spoked for..."
"Since then, another five have been spoked for..."
"Since then, another five have been spoked for..."
"Since then, another five have been spoked for..."
"Since then, another five have been spoked for..."
"Since then, another five have been spoked for..."

***Bid half off peak comps***

Posted by: Brownstones Half Off at July 10, 2009 11:22 AM

After having been to the open house most of those apts are quite big. It's a decent lot size. Many had outdoor spaces to boot. Only odd thing was the huge kitchenn islands.

Posted by: DeLepp at July 10, 2009 11:22 AM

Since the end of 2008. It's already July!!!

That's 7 months. Usually takes 2-3 months to close, but you wouldn't know that now, would you?!

Posted by: 11217 at July 10, 2009 11:24 AM

Unless they spoked very recently they have still probably closed by now. If not, you would think BHO would be right that the buyers will renegotiate at the lower price.

Posted by: wasder at July 10, 2009 11:24 AM

k, yea guess it must be a pretty deep building.

i'm just used to duplexes i guess

Posted by: ftgreenepark at July 10, 2009 11:25 AM

Yes, it's possible Wasder, but since I just went to Streeteasy and it very clearly states that the other units have closed, it's quite obvious that (per usual) BHO doesn't know his ass from his elbow.

He'll learn about this real estate game someday...

Posted by: 11217 at July 10, 2009 11:27 AM

Manhattan has always been packing 'em in like sardines. Prices down 20% yoy, rents down 17%. Wait, this is Brooklyn. Oops my bad, Brooklyn has nothing to do with Manhattan...

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

Cornerbodega:

Please tell me how that relates to this building selling 10 of its 13 units?

Once again your stupidity is astonishing. At least bring up your facts on a relevant thread.

Gotta laugh at the "i'm used to duplexes" comment too.

uhhhh...ok, Paris Hilton.

Posted by: 11217 at July 10, 2009 11:32 AM

"Since the end of 2008. It's already July!!!

That's 7 months. Usually takes 2-3 months to close, but you wouldn't know that now, would you?!"

It usually takes the webmaster 2-3 seconds to update a status, 1121[Chapter]7. Only 5 show up as actually "SOLD" on the Sanctuary site. Streeteasy is notorious for hosing information (indicates only 6 recorded sales). It takes 50% sold to close. Egg on my face when they get recorded.

***Bid half off peak comps***

Posted by: Brownstones Half Off at July 10, 2009 11:48 AM

BHO:

You are a flat out moron. Streeteasy shows 9 sales as CLOSED, one as "listing entered contract" (meaning the contract has already been signed) and 3 for sale.

Don't lie.

We all know you are The What just trying to get attention on every thread you possibly can anyway. It's asinine.

You have egg on your face every time you make a comment on this website.

Posted by: 11217 at July 10, 2009 11:53 AM

Wait a minute! Only 7 show up on Streeteasy as sold. So even if Streeteasy is to be believed, there's still 3 contracts out there. 11217 is an idiot.

***Bid half off peak comps***

Posted by: Brownstones Half Off at July 10, 2009 11:53 AM

Not true.

You clearly just don't know how to read Streeteasy.

Posted by: 11217 at July 10, 2009 11:57 AM

And you've gone from saying 5 sold to 7 sold in 5 minutes. Do a little more digging there big guy.

Once you find the other 2, maybe we'll give you a cookie!!

Posted by: 11217 at July 10, 2009 11:58 AM

"6 recordes sales" and "9 sales" (OK I'm a moron for looking at the 'previous' column), all per streeteasy, and "5 sales" per the Sanctuary site. Three different numbers. Which one is it? (smoke and mirrors)

***Bid half off peak comps***

Posted by: Brownstones Half Off at July 10, 2009 12:00 PM

9.

One in contract.

3 for sale.

So that one in contract I suppose (according to you) could be at risk, but this seemed to be a great development with really nice apartments so it's not at all shocking that they sold most of them.

Posted by: 11217 at July 10, 2009 12:04 PM

"9."

Just because streeteasy says so? They also say 6 recorded. Is the webmaster that lazy? You'd think they want to brag about "9 SOLD". What exactly does brownstoner mean by "spoken for"?

I feel like Al Gore in December 2000.

***Bid half off peak comps***

Posted by: Brownstones Half Off at July 10, 2009 12:14 PM

debate about exactly how many have sold aside, what does everyone think about that wild unit at the top of the church? every time I look at those photos I am torn between "that is rad!" and "how could you actually live in that?" in particular - love the stained glass - am weirded about by the notion of not being able to see outside one's apartment.

I actually did live in a convertered church a while a go that similarly had no way of seeing outside - all the windows were stained glass. it was way way bigger than this, but a total dump. I liked it at the time, but I was also 20 and willing to deal with a lot of craziness.

Posted by: perhaps at July 10, 2009 1:21 PM

Since when does 9+1+3 = 13?! I can't add but you should listen to me when it comes to bidding on a home.

Posted by: ghettoazzpnkbtch at July 10, 2009 5:50 PM

Anyone know if this building is offering rentals? I love the block it's on.

Posted by: krislaz at July 12, 2009 9:37 AM

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