« Inside Third & Bond: Week 102 House of the Day: 786 Putnam Avenue »

September 24, 2009

Condo of the Day: 475 Sterling Place, #3I

The listing for this two bedroom condo at 475 Sterling Place calls it "the best value per square foot in Prospect Heights" and, at $575,000 for 1,119 square feet, it's probably not far off the mark except for the fact that some people might argue that it's technically in Crown Heights. The building was one of the first new ones to go up in the area and it's been a long slog but we think it's one of the better looking ones and $500 a foot is pretty reasonable. Waddya think?
475 Sterling Place, #3I [Douglas Elliman] GMAP P*Shark

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i went this open house months back and it wasnt too shabby. i liked the amount of natural light coming in due to the huge windows!

Posted by: guikazoid at September 24, 2009 12:42 PM

Reminds me of some of the nicer new construction you see on 16th Street.

Posted by: Joe from Brooklyn at September 24, 2009 1:05 PM

I live in this building and love it. The apartments are roomy and highly sound resistant. The washer/dryer hookup is a big plus. There are also plenty of off-street parking spaces available to buyers.

Posted by: bohuma at September 24, 2009 1:13 PM

I'd like to get rid of that narrow second bedroom and have a larger living room.

How hard is it (or is it possible) to stain those kitchen cabinets a darker color?

Posted by: InsertSnappyNameHere at September 24, 2009 1:13 PM

The kitchen cabinets are lacquered, so might need some sanding to change the color. The second bedroom easily fits a queen bed. There will be open houses from 1 - 3 p.m. Saturday and Sunday, check them out.

Posted by: bohuma at September 24, 2009 1:18 PM

Pretty nice pad and decent location. Generous proportions, two baths, definitely seems priced fairly.

Posted by: wasder at September 24, 2009 1:29 PM

when listing says 'available parking' I take it to mean at costly monthly fee.
When/if I ever go this condo route, I want to own the space.

Posted by: Petebklyn at September 24, 2009 1:33 PM

Bohuma
how is this nabe?
what sorta amenities(cafes/dry cleaners/food marts/shops) are within walking distance
also what train is nearby and how far is the walk to and from
is it safe overthere?

Posted by: gemini10 at September 24, 2009 1:41 PM

The fixture is not very nice. You got the space but the kitchen appliances and bath is just too simple.

Parking I heard is $30,000 per spot.

Posted by: seahawk at September 24, 2009 2:11 PM

Petebklyn, parking is available for purchase, with a low monthly maintenance. You'd need to talk to the listing agent to find out the current list prices of the parking - remembering that this is a buyer's market and most things are open to negotiation. We paid less than half for our space what we were quoted at the Argyle on 4th Ave. The spaces are outdoors.

gemini10, the neighborhood is improving all the time. Washington Ave has a number of quite good restaurants, mostly Caribbean at this end, but also a nice Greek BYOB (Teddy's). Tom's (Washington & Sterling) diner is famous in the neighborhood for its breakfast. I don't use dry cleaners a lot, but there are several on Washington. There are four bodegas on Washington within 5 minutes walk and a moderate sized Key Food on Washington between Lincoln and Eastern Pkwy. The 2/3 trains run from Eastern Pkwy, 6 minutes walk. 4/5 run from Franklin Ave (10 minutes walk), the Franklin Ave shuttle is about 7 minutes walk. The B45 is on the corner and goes to Atlantic Center where you can shop at Pathmark and Target (among others). The B71 bus runs from the 2/3 subway at Eastern Pkwy down Union St, you can shop on 5th avenue from the B71 - there's a bigger Key Food on 5th.

Posted by: bohuma at September 24, 2009 2:18 PM

Seahawk, you heard wrong about the parking. Check the recent sales on streeteasy.

Posted by: bohuma at September 24, 2009 2:19 PM

Price chops of 2-6% ain't gonna get the job done. This place is only half sold. Chop like you mean it.

Posted by: DitmasSnark at September 24, 2009 2:20 PM

That SQUARE FOOTAGE for that apartment is WAY OFF. At best it is 33' by 22' which is 726 sq. ft. FAR SHORT of the listed 1100

Posted by: bmfesq at September 24, 2009 2:26 PM

In addition to the restaurants near Eastern Parkway, Washington Avenue has improved its retail/restaurant/bar offering in the last year and continues to do so (Muertos, Ortine, Wash Commons, Shane, Way Station). Also Classon and Franklin are seeing the same thing.

Posted by: lincolnlimestone at September 24, 2009 2:39 PM

I've looked at this building and although it is a good deal, it's really out there in the middle of nowhere. The apartments themselves are really beautiful and cool. My husband and I looked at a duplex in the building that we could probably stay in forever but not if we didn't feel comfortable and safe in the neighborhood.

Posted by: marissalerer at September 24, 2009 2:53 PM

"That SQUARE FOOTAGE for that apartment is WAY OFF. At best it is 33' by 22' which is 726 sq. ft. FAR SHORT of the listed 1100"

Huh?

Use Kitchen and LR to calculate length = 22 + 8

Use LR + BR1 + MBR = 13 + 10 + 9

That is 990. Now take account room measurements are based on studs to studs but OVERALL sqft is measured from outer wall (and this is true FOR any residential in NY - be it brownstone or condo) then you get the idea where 1119 comes from.
Even if you are going to be that strict with measurement then I can tell you now that many brownstone listings are straight up lying.

Posted by: crimsonson at September 24, 2009 3:08 PM

> it's really out there in the middle of nowhere.

Hardly. You could stand in your living room and announce that you can see Tom's Diner from your house. Not to mention that Washington has been getting tons of new stuff lately.

Posted by: DitmasSnark at September 24, 2009 3:16 PM

I don't know why this question never occured to me before and I haven't read it elsewhere. With new condos, are the prices set by what is approved by the attorney general in the offering plan? What I mean is, can a buyer make a bid below what is in the offering plan, or is the price set?

Posted by: altervoce at September 24, 2009 3:25 PM

Washington is really great these days...lots and lots of new stuff opening up. It used to be people enjoyed being a little off the beaten path to get a good deal on a larger space, but I suppose that isn't the Brownstoner crowd...

Posted by: 11217 at September 24, 2009 3:26 PM

The price is set by the developer and agreed upon by the financial institution (they usually just need a floor level pricing met) they got their construction loan from (bank or otherwise) and filed officially with the state.

The developer can adjust the price for individual units and add incentives. However what they owe to the bank does not change so any changes affect their bottom line.

Any 'across the board' pricing changes needs the approval of their bank and would need to be filed with the state again.

Posted by: crimsonson at September 24, 2009 3:41 PM

Everyone's talking about how nice these apts. are. And from the floor plan it looks like there's a wall of windows. But NONE of the photos show even one window! They make it look like a bunker. I don't get it. How about ONE photo with windows instead of the identical two of the exterior?

Posted by: Nomi at September 24, 2009 3:45 PM

Altervoce, once the first units have closed, the developer is no longer obliged to keep prices consistent. You can offer whatever you like for a unit or parking space, the worst that can happen is the developer says no. The price cuts came after the first units closed.

I think Washington Ave is great, and I've felt as safe here as I have anywhere in Brooklyn, or Queens. I tend to keep my wits about me though, and take appropriate precautions, like not wandering through any urban neighborhood at three am with five martinis in my belly.

There are forty-five units in this development: 25 sold and closed, 3 in contract, 17 for sale - there may be offers out on one or more of these. There are 23 parking spaces, nine have been sold. The list price for parking was $25,000 in March 08, Streeteasy records the last sale of a parking space at $10,000, but that was in conjunction with one of the most expensive units in the building so they undoubtedly negotiated the unit and the parking space as a package.

Posted by: bohuma at September 24, 2009 3:50 PM

"it's really out there in the middle of nowhere."

Compared with...?

Posted by: East New York at September 24, 2009 4:39 PM

Compared with THE HOLE.

Posted by: Nomi at September 24, 2009 4:49 PM

Oh. Wait. I got that backwards. Oh, well.

Posted by: Nomi at September 24, 2009 5:27 PM

There's also a nice low key yoga place on Washington/St. Mark's. Gen gives decent sushi and Chevalla's is right up the street on Classon gives some really good Mexican. 2/3 is a decent line. Runs well even in the wee hours. Three stops to Atlantic/Pacific where you can transfer to almost anything. I use the B45 so much it might as well be my own personal taxi. B45 not only goes to Atlantic Terminal (~15 min ride) but the last stop in downtown is two blocks from Trader Joe's (~30 min ride). If you're a lady of color who'd like to get her hair did in someplace nicer than the shoebox places on Nostrand there are a few clean, airy shops along Washington. Don't know about quality or prices though.

All this and only a five minute walk from my favorite watering hole Franklin Park!

As far as safety is concerned I think it's perfectly safe if you use the same basic common sense rules you'd use anywhere else in the city.

Posted by: kissera at September 24, 2009 5:58 PM

Is it zoned for ps 9?

Posted by: Heather at September 24, 2009 6:37 PM

I'm happy to report my girl and I went into contract a couple days ago. The building has everything I'm looking for: it's in the community I love (been here 3 years), an onsite parking space, 3 blocks from the 2/3 train, great space, & great light. Pretty excited...

Posted by: jimmy2times at September 24, 2009 10:00 PM

I've been in the building. New construction that's halfway decent, ceiling to floor windows, parking spaces for sale as real property. In the middle of nowhere? Washington has finally cought fire in terms of retailing the past year. The block can use some improvement but not terrible.

Posted by: Crownlfc at September 24, 2009 10:57 PM

Joe from Brooklyn:

Great eye! The 16th Street condos and 475 Sterling have the same developer, CPC.

Middle of nowhere? Hardly. With the accessibility to the Shuttle, 2/3, 4/5 this is about as good as it gets when you add the fact that the B45 stops at the corner.

My only concern is that you will have bus noise in the front of the building and playground noise at the back of the building.

Posted by: BrooklynIsHome at September 25, 2009 8:03 AM

Heather, see http://insideschools.org/index12.php?fs=584 apparently it's outside PS 9's zone.

Posted by: bohuma at September 25, 2009 1:57 PM

« Inside Third & Bond: Week 102 House of the Day: 786 Putnam Avenue »

September 24, 2009

Condo of the Day: 475 Sterling Place, #3I

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