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21

500 4th Avenue 40 Percent Sold

Categories: Park Slope, Sales

500-4th-ave-072910.jpg
We've been noticing a steady stream of closings at 500 4th Avenue since the first ones began at the beginning of June (when this photo is from—construction is now complete), so we decided to check in on how the 156-unit Park Slope development was faring. Pretty well, it turns out. Four months after hitting the market, the project is 40 percent sold, with 61 units spoken for (and several new owners already moved in). Streeteasy shows units are selling close to their asking prices too. Apartments, which include studios as well as one-, two- and three-bedroom units, range from $342,000 to $1,225,00.
500 4th Avenue Ready to Close [Brownstoner] GMAP



By EmilyNonko at July 29, 2010 2:55 PM | Comments (21)

21 Comments

By more4less on July 29, 2010 3:05 PM

for those prices and time frame, that is pretty impressive.

By 11217 on July 29, 2010 3:22 PM

Suck it frownstoners! ;)

By 11217 on July 29, 2010 3:31 PM

Wow, I'm surprised they are really getting $650/$700 psf for this location. Good for them. Finishes are great and building is pretty decent looking on the outside. Nice warm glow from the lobby.

By more4less on July 29, 2010 3:34 PM

11217, we'll all be sucking it if these are FHA loans with 10% down

By Petebklyn on July 29, 2010 3:37 PM

thats more than 10% more per sq ft than @BeSchermerhorn-
which looks nicer on outside but I don't know the inside.

By chortik on July 29, 2010 3:37 PM

impressive indeed. still more like gowanus than park slope though

By mike69 on July 29, 2010 3:40 PM

I went to look at some of the units a few months ago with the majority of the building wrapped in construction paper/tape...mostly finished construction. I thought most of the units were ugly. The colors of the interior and exterior are kind of depressing. I don't know if it was intentional by the developer or architects but every room they showed me had slivers of open crevices that were awkward and unappealing.

I walked by the building a few days ago, it actually looks pretty nice from the outside at night with the doorman and lobby furnished....though it's still an eyesore during the day. And it seems FHA people have already moved into the building. Those amenities also will cost you an arm and a leg in the CC and asking price.

By 11217 on July 29, 2010 3:41 PM

Pete, I'd argue that this location is better. Be@Schemerhorn looks like a nice building but that immediate area is gross.

This is a block to 5th Avenue and close to all the cool stuff opening up in Gowanus (Bell House, that new pie place, the new Chinese place, etc).

By chortik on July 29, 2010 3:45 PM

Be@Schermerhorn may have a better location, but the trim at 500 4th is definitely better. Also, no W/D in unit in the former.

By fsrg on July 29, 2010 3:46 PM

Nw all it needs is an Olive Garden!

By Petebklyn on July 29, 2010 4:01 PM

500 4th seems to have terraces which are rare at @Be which can explaim some of the price.
Also, @Be common charges seems much higher....can anyone explain that? especially since 500 4th billing itself as 'white glove' amenities yet c.c. of $350 of large 1 bedroom $550k apt?(all figures are approx). Sounds really under estimating.

By Sparafucile on July 29, 2010 4:03 PM

It's a block to 5th Avenue and 12th Street which is what, the OTB parlor?

I'm amazed at the psf price for this location.

By 11217 on July 29, 2010 4:15 PM

5th and 12th is Commonwealth, Sparafucile. One of the better bars in the neighborhood. Tacos Nuevo Mexico is also on that block of 5th, as is Green Kitchen, a new place selling great fresh food and Stumptown Coffee.

The lower stretch of 5th is terrific...Little Buddy Bakery, Sidecar, and really is walking to 5th a few blocks north really that big a deal if you're more the Blue Ribbon type? It's maybe a 5-7 minute walk.

Do you consider your neighborhood the ONE block immediately surrounding your home?


By STARGAZER on July 29, 2010 4:23 PM

This is my favorite. I love the brown windows, yay, they have screens,,,,,'''

By novanglus on July 29, 2010 4:24 PM

$7-800/sf in lower Gowanus is absurd. Do they come with free rentals of the Grand Prospect Hall?

By ishtar on July 29, 2010 4:25 PM

I wouldn't pay this much to live in this area, but I see why some people would. It really is close to lots of amenities. When you're in a good mood you can walk to Prospect Park and 7th ave. The train situation is more than doable.

By babs on July 29, 2010 4:54 PM

They have a lot of three bedroom units here, which are super-popular. I'm told there is no price flexibility at all on the 3 BR units.

By Butterfly on July 29, 2010 6:44 PM

lower (upper?) 5th avenue is great. once i cross 9th street onto 10th i feel like im a whole new world, a world where i can afford the stores and eateries hahahaha. i think this location is excellent really. there's nothing wrong with 4th avenue, in fact i love 4th avenue. 40s and cigarettes are literally 10-15 percent cheaper on that avenue compared to 5th avenue. i know i know, that's a lame thing to say, but still... i mean live here, and walk up a block a BLOCK and you are near lots of stuff.

it is weird how it's studios - 3 bedrooms. honestly buildings should be studios and 1 bedrooms only and then 2-4 bedrooms only. most people who live in studios and one bedrooms dont want to live in buildings with big families, or even families at all, and vice versa. such a culture clash.

*rob*

By Butterfly on July 29, 2010 6:46 PM

and 11217 is right, it's close to third ave! which does have a ton of great stuff. so you are in the middle of third and 5th. i think that's a great location. closer to the subways too.

*rob*

By slopefarm on July 30, 2010 1:48 PM

You have a long memory, fsrq. I'll buy you a glass of cheap chianti when it opens. ;)

By parksloper11215 on July 31, 2010 7:02 PM

Conventional loans are available for 500 Fourth Ave from M&T and TD Bank. And the CC is in fact on the low side. Although 4th Avenue could beautification, the location is very convenient to the subway, restaurants, shops, etc.

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