August 3, 2009

Brokerage Switches Ain't Helping at 245 16th Street

It's been a year and a half since we last checked in on the small condo at 245 16th Street in the South Slope. Back then, the development was going by the name "The Athena," but three brokerages later it appears that the moniker has been dropped in favor of "The 16th Street Condominiums." What hasn't dropped, at least not appreciably, are the condo's prices: Unit 1 in the building (1,105-sf studio loft), for example, started out its life on the market at $495,000. While Elliman, which first had the listing, brought it down by $10K last summer, the asking has stayed at the same level through Corcoran and Brown Harris Stevens' runs representing the building and is still listed for $485,000 with its new handlers, Brooklyn Heights RE. Prices on two other units have also been pretty static, with one (Unit 3) staying at the same price it was initially listed for in January '08, $695,000, and the other (Unit 2) now at $585,000 after first coming to market for $695,000—a decent cut, but it was made last December, and it doesn't seem to have had much effect. It doesn't look like the other three units in the building have active listings, but there definitely haven't been any closings thus far, even though the development's final C of O came through almost a year ago. Has anyone checked these out?
245 16th Street Listings [StreetEasy]
Athena Prices a Big Fat Myth? [Brownstoner] GMAP

Posted by Gabby at 10:30 AM | Comments (12)
Categories: Condos, South Slope

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