Townhouses
February 19, 2008
80 Met Townhouses Hit the Market
Up to now, 80 Met has been largely known for the destruction of the Old Dutch Mustard building and the creatively vandalized banner ads that have adorned its construction fence. Last week, however, the world was given a glimpse at one of the new townhouses that developer Steiner Equities is including in the square-block project. Since it’s part of the larger 80 Met complex, the three-bedroom, 2,100-square-foot pad will come with “condo services” that include use of 80 Met’s pool, fitness center, parking, etc. Sounds cushy, but at the listing price of $1,635,000 it also comes to about $800 a foot, definitely pricey as far as houses go. Think this should be valued as a condo or a house?
65 North 1st Street [Halstead] GMAP
Development Watch: 80 Met [Brownstoner]
January 21, 2008
Taking the Pulse of Townhouse Sales in the Slope
Last week we received a document entitled “Charles Ruoff’s Townhouse Report,” the first in a biannual series Ruoff, a Brown Harris Stevens broker who specializes in townhouse sales in Park Slope and Prospect Heights, intends to produce. Ruoff’s recent big-ticket listings include 598 2nd Street ($3,450,000) and 909 Union Street ($2,495,000). The broker’s assessment of the current townhouse market in the Slope and Prospect Heights is as follows:
We are once again faced with limited supply of homes in all price points. The third quarter of 2007 produced some noteworthy sales and in fact record-breaking prices in both the North and South Slope as well as in the adjoining neighborhood of Prospect Heights. Inventory as well as demand seems to be especially lacking in the high $1 million dollar to low $2 million dollar range. The limited supply of multi-family homes on the market can best be attributed to the dramatic rise in rents for landlords now receiving very healthy cash-flow.
Sound about right to you?
Photo by Da Nator.