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20 Bayard Leftovers in Williamsburg Selling Quickly
Last year an investment firm purchased the remaining 37 unsold units in the Williamsburg condo 20 Bayard Street, and the broker now handling the sales of the units says they’re moving quickly since hitting the market a couple months ago. According to Deborah Rieders, a senior vice president at Corcoran, as of this week there are 12 signed contracts for units in the condo. Rieders also notes that the new owner has made major upgrades to the condo. StreetEasy is showing that the 11 active listings not in contract are asking between $650,000 for an 812-square-foot one-bedroom to $1,550,000 for a 1,515-square-foot two-bedroom penthouse.
First Few New-Old Listings Trickle in for 20 Bayard [Brownstoner]
20 Bayard Listings [StreetEasy]
Unsold Units at Williamsburg’s 20 Bayard Change Hands [Brownstoner]
Less Money, Mo Problems for 20 Bayard Developer [Brownstoner]
20 Bayard Goes Belly Up [Brownstoner] GMAP
04/25/2012 10:00 AM
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107 Prospect Park West Sells Out in 28 Days
Last Friday the Daily News and Curbed reported that all five units have sold at 107 Prospect Park West, less than one month after it hit the market. Apparently there was a 900-name waiting list of prospective buyers. Prices began at $515,000 for a 547-square-foot one-bed and ranged from $1,095,000 to $2,310,000 for four other two-, three-, and four-bedroom units. 107 PPW had been a long-abandoned mansion built as a one-family abode and chopped up into eight units. It sold for $2.7 million in June 2011.
107 Prospect Park West Just About Ready For Prime Time [Brownstoner]
Marketing Begins for 107 Prospect Park West [Brownstoner] GMAP
Details on a Prospect Park West Conversion [Brownstoner]
Behind Closed Doors at 107 Prospect Park West [Brownstoner]
04/23/2012 10:00 AM
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From Rentals to Condos at 133 Water Street
As Dumbo NYC pointed out yesterday, rental building 133 Water Street started putting condo units on the market. Over on StreetEasy there are four available one- and two-bedroom apartments priced from $700k to $939k. Rentals were anywhere between $2.600 and $4,800/month. You can see some interior pics on the Brown Harris Stevens listing.
133 Water Street Building Converting from Rentals to Condo [Dumbo NYC]
Owners of 133 Water Street Go Belly Up [Brownstoner]
133 Water Half-Rented, Partially Inhabited [Brownstoner]
Dumbo’s 133 Water Goes Rental [Brownstoner] GMAP
04/17/2012 2:40 PM
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Condo of the Day: 85 Adams Street, #3D
At this point, $850,000 for an apartment in Dumbo qualifies as relatively inexpensive. In that context, this two-bedroom, two-bathroom pad at 85 Adams Street strikes us as a decent bang for the buck. The ceilings are high, there are lots of windows and the square footage count–at 1,165–is generous. In fact the only negatives we can come up with are the lack of views and proximity to the Manhattan Bridge, over which subways rumble round the clock. On balance, though, intriguing.
85 Adams Street [Brown Harris Stevens] GMAP P*Shark
04/11/2012 12:58 PM
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New Summit Street Condos Hit the Market
We’ve been tracking the progress on the new development on Summit Street, just off Columbia Street, since it was a hole in the ground about a year ago, and now it’s all grown up and being marketed for sale. There are nine units total, and we’re seeing three listings up on Corcoran’s website: A 1,385-square-foot, two-bed/two-bath for $899,000; a 1,478-square-foot, two-and-a-half-bed/two bath for $915,000; and a 2,319-square-foot, three-bed/three-bath for $1,400,000. Here’s the broker line on it: “49-53 Summit Street has everything you could ask for in a home! Only 9 individuals will be lucky enough to enjoy the experience of living in some of the finest homes in this amazing Carroll Gardens waterfront location. The apartments are expansive ranging from over 1300 square feet to just over 2300 square feet. All of the homes have massive floor to ceiling windows that allow the entire living space to glow with natural light. The kitchen is a true masterpiece and will without a doubt unleash your inner chef. The bedrooms are all generous in size and have ample closets and each of the master bedrooms have a gorgeous en-suite bath. With amazing space, stunning finishes, and located just steps from some of the coolest restaurants, shops and pubs both in Carroll Gardens and Red Hook 49-53 Summit Street is truly an opportunity not to be missed.” Not many interior shots included in the listings, but click through for one.
Summit Street Build Gets Bricked [Brownstoner]
Development Watch: 49-53 Summit Street [Brownstoner]
Development Watch: 49-53 Summit Street [Brownstoner]
Development Watch: 51 Summit Street [Brownstoner] GMAP (more…)
04/11/2012 10:00 AM
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Condo of the Day: 430 3rd Street, #3
Here’s a cute floor-through condo in Park Slope. The two-bedroom, two-bathroom pad has nice original details in the living room and bedrooms along with a recently renovated kitchen. The windowless den is a little less than ideal, but overall a very attractive place. Asking price for the 1,187-square-foot unit is $995,000, only a tad north of what it sold for back in 2008 but not a give-away for a walk-up.
430 3rd Street [Brown Harris Stevens] GMAP P*Shark
04/05/2012 12:56 PM
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Condo of the Day: 122 Adelphi Street, #7B
This two-bedroom, two-bath condo is one of 19 units at the recently launched 122 Adelphi Street. The 966-square-foot apartment has an open plan kitchen, living and dining area that opens up onto a what looks like about a 200-square-foot private terrace. We’re not loving the bathroom fixtures but the kitchen and floors look pretty nice. The asking price is $765,000. Anyone checked this place out yet?
122 Adelphi Street, #7B [Halstead] GMAP P*Shark
04/04/2012 12:57 PM
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Condos for Sale at Vinegar Hill’s 185 York
The condo at 185 York Street, a small development across the street from the Farragut Houses, quietly hit the market very recently. Streeteasy lists all 17 studio, one- and two-bedrooms priced from $375,000 to $845,000. You can see some interior images after the jump. Wonder if this development will have more luck than nearby 109 Gold Street, which ultimately sold to another developer after trying its luck with individual condo sales. This particular building at 185 York has been under construction since 2009.
185 York Nearing Completion [Brownstoner]
Development Watch: 185 York Street [Brownstoner] GMAP P*Shark
Development Watch: 185 York Street [Brownstoner] DOB (more…)
04/04/2012 10:00 AM
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New Slope Condo, 910 Union, Almost Ready for Prime Time
The newest condo in Park Slope, 910 Union Street—between 8th Avenue and Grand Army Plaza—is expected to hit the market by the end of May, according to one of its developers. Brian Lockner, of American Development Group, says construction is close to wrapping and that the building will have 15 units: Two one-bedrooms, two two-bedrooms and 11 three-bedrooms. Lockner says the units will have high-end finishes, private outdoor space in each, and an elevator that opens directly into all the spreads aside from the ones on the first two floors. Lockner wouldn’t talk prices with us because the offering plan has yet to be approved, but we’re hearing from the brokerage community that the building may be aiming to set some Park Slope condo records, with prices running between $1.6 and $2 million. Clearly the family market is being targeted given how many three-bedrooms are being built. The shrouding covering the development makes it tough to determine how it’s going to turn out, but Lockner says a final exterior rendering has yet to be finalized and that the old one we have is out of date.
Development Watch: 910 Union Street [Brownstoner]
Condo Coming to Union Street in the Slope [Brownstoner] GMAP DOB
04/04/2012 9:00 AM
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Condo of the Day: 70 Washington Street, #6A
This 1,342-square-foot loft at 70 Washington Street in Dumbo hit the market last week for an asking price of $1,199,000. Like most of the units in this building, this sixth-floor one-bedroom has high, beamed ceilings, big windows and attractive finishes in the kitchen and bathroom; also like many of the units in the building, it’s got a windowless home office instead of a second bedroom. The asking price per square foot comes in just south of $900, which is right around where the dozen or so other non-penthouse listings in the building are now.
70 Washington Street, #6A [Douglas Elliman] GMAP P*Shark
04/02/2012 12:57 PM
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Condo of the Day: 111 Steuben Street, #6A
As far as new condos go, we’ve always liked 111 Steuben aka The Absolute. After launching sales at the end of 2007, the 35-unit building had a slow time of it. There were a few rounds of price cuts in 2009 and a number of units went rental on a temporary basis. Fast forward to today, though, and there are only two units left, and they are both penthouses. Neither has been lived in before. The swankiest of the two is Unit 6A, a three-bedroom, two-bath pad with 1,877 square feet of interior space and 2,900 square feet of outdoor space. We’ve got no idea if they have a shot at that price, but the apartment sure is nice.
111 Steuben Street, #6A [Brooklyn Bridge Realty] GMAP P*Shark
03/29/2012 12:57 PM
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All 80 Units Have Sold at the Atlantic Terrace Co-op
Atlantic Terrace, the co-op on Atlantic Avenue with both market- and affordable-rates units, has sold out. The buildings hits the milestone about one-and-a-half years after hitting the market. Heather Gershen, the director of the Fifth Avenue Committee, said “we’re very pleased from both the timing and the pricing perspective” and that all units are expected to close within the year. 60 of the 80 units were priced below market rate and went into contract quickly. The 20 market-rate co-ops were priced between $365,000 for a one-bedroom to $1,095,000 for a two-bedroom (plus office) penthouse. Fifth Avenue Committee still actively seeks a restaurant or retailer tenant for the commercial ground-floor. We’ve heard there’s quite a bit of demand for commercial space near a certain arena that’s opening up not too far away…
Atlantic Terrace Update [Brownstoner]
Checking In On Atlantic Terrace [Brownstoner]
Launch at Atlantic Terrace [Brownstoner] GMAP
03/29/2012 10:00 AM
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Long-Stalled, Huge ‘Burg Project Showing Signs of Life
Is the Chetrit Group gearing up to finally start work on the massive Williamsburg development once dubbed “The Gateway to Williamsburg”? Signs are pointing to yes: Permits were recently filed for the blighted site, at 500 Metropolitan Avenue between Union and the BQE, and it looks like the tight-lipped developer is gearing up to build a hotel/residential/retail complex. The permit request, which is “pending zoning approval,” calls for 234 units and a max height of 14 stories to develop a “new mixed use building to include residential, transient and commercial uses.” The architect on the job is Gene Kaufman. The project has been on ice for years. Back in 2008, Meltzer/Mandl Architects was supposed to be designing it, and Duane Reade had reportedly inked a deal as an anchor tenant. Instead, it has become one of the biggest symbols of post-boom, developer-induced blight in Williamsburg (see inset), with a poorly maintained construction fence. It sits on the same block as Kellogg’s Diner and is in an extremely prime location next to the Metropolitan-Lorimer G and L-train stop. Curbed covered plans for the site, which was being referred to as “The Gateway to Williamsburg,” in detail before it became a non-starter in 2008. Meanwhile, the firm Winick Realty is actively marketing the commercial portion of the development, and their listing is where the rendering above comes from. The Chetrit Group has been in the headlines lately for its tactics involving longtime tenants of the Chelsea Hotel following its purchase of the Manhattan landmark.
502 Metropolitan Avenue Revealed [Brownstoner] GMAP DOB
Rendering courtesy of Winick Realty
03/29/2012 9:00 AM
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Troubled Vinegar Hill Condo 109 Gold Sells for $14.5M
There may yet be hope for the 33-unit Vinegar Hill condo building 109 Gold Street. The Real Deal reports that the Praedium Group, a real estate investment firm representing under-performing and undervalued assets, purchased the site for $14.5 million. This development saw its share of trouble from the get-go (most notably, the illegal demolition of an old church at the site in 2008). After that there was a switch in brokers that didn’t translate to closings, and the entire building was put up for sale late last year. Prices previously ranged from $319,000 up to $999,000. We’ll see how it fares on the market this time! Update: The Real Deal just posted a follow-up story saying the building will be turned into a rental and listings should pop up within a month, although asking rents aren’t being disclosed at the moment.
109 Gold Street sells to Praedium for $14.5M [The Real Deal]
109 Gold Developers Throw in the Towel [Brownstoner]
109 Gold: Ready for Move-ins, but are Buyers Biting? [Brownstoner] GMAP
109 Gold Officially on the Market [Brownstoner]
109 Gold Listings Trickle In [Brownstoner]
109 Gold Fully Glassed [Brownstoner]
109 Gold Gets Windows [Brownstoner]
Glacial Pace at 109 Gold [Brownstoner]
03/27/2012 10:00 AM
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Sales Reach Halfway Point at Huge ENY Condo Conversion
It’s been years since we checked in at the sprawling East New York condo conversion MeadowWood at Gateway, but a press release just announced that the complex is half sold. According to the release, “MeadowWood at Gateway, located at 12205 Flatlands Avenue, has surpassed the ever-important 50 percent-sold milestone with 635 out of 1,152 condominium homes now sold or in contract. Fillmore Real Estate, the exclusive sales agent for MeadowWood at Gateway, attributes the success of this condominium development to the combination of a high quality product at surprisingly attractive prices – starting at $120,900 for the fully renovated, spacious studio to four bedroom homes for just over $300,000.” Before the conversion, the 19-building complex, known as the Fairfield Towers, housed rental units. An investment company purchased the buildings in 2006 and earmarked $40 million for their rehabilitation. Despite condo prices going up here in 2008, sales have remained steady during its almost-five years on the market.
Affordable Housing: A Bright Spot? [Brownstoner]
Sales Hummin’ at Huge East New York Conversion [Brownstoner]
Sales Begin at Brooklyn’s Biggest Condo Conversion [Brownstoner] GMAP
Photo from MeadowWood at Gateway site.
03/23/2012 9:30 AM
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BellTel Lofts Passes 70% Sold Mark
A press release went out at the end of last month saying that BellTel Lofts, the 250-unit conversion of a handsome 1929-vintage building, is now more than 70 percent sold. Remaining units start at $575,000 and the condos range in size from 600 to 2,700 square feet. According to StreetEasy, the most expensive unit is a 3.5-bed that’s listed for $1,890,000. This building has been on the market for a looong time. We must be nearing five years at this point, and marketers were touting how it was 55 percent sold exactly two years ago. Still and all, they’re getting there—slowly, but surely.
BellTel Lofts [Official Site]
Million Dollar Views at BellTel Sell For Less [Brownstoner] GMAP
Belltel Rebrands Some Upper Floors [Brownstoner]
A Few More Sales Trickle In at BellTel [Brownstoner]
Belltel Joins the FHA Club [Brownstoner]
Targeted Price Cuts at Belltel Lofts [Brownstoner]
Checking In On The BellTel Lofts [Brownstoner]
Belltel Parking On Tap [Brownstoner]
Belltel Lofts: 50% Percent Sold [Brownstoner]
The Belltel Lofts: 40 Percent Sold [Brownstoner]
03/22/2012 11:00 AM
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Condo of the Day: 925 Pacific Street, #204
We like the looks of this modern condo at 925 Pacific Street aka Hello Living Madison (remember that building?). The one-bedroom unit has 18-foot ceilings, an attractive open kitchen and a private terrace. Our main criticism is that the main living area, at less than 11 feet wide, is a bit on the skinny side. (Floorplan here.) Asking price is $439,000.
925 Pacific Street, #204 [Warren Lewis] GMAP P*Shark
03/21/2012 12:57 PM
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Condo of the Day: 970 Kent Avenue, #206
High ceilings? Check. Lots of windows? Check. Open floor plan? Check. This 1013-square-foot loft at 970 Kent Avenue (just barely) in Bed Stuy has a nice feel to it, with its original beamed ceilings and renovated kitchen. Also, because it’s on the second floor, it’s priced slightly lower than other units in the building. (The same apartment on the fifth floor is priced $20,000 higher.) This one’s been on the market for more than half a year though, so we suspect there might be a little wiggle room on price.
970 Kent Avenue, #206 [Brooklyn Bridge Realty] GMAP P*Shark
03/19/2012 12:57 PM
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107 Prospect Park West Just About Ready For Prime Time
Yesterday we got a sneak peek at 107 Prospect Park West, the corner mansion on 6th Street in Park Slope that was in derelict condition for decades until being purchased and renovated over the past year. About that renovation: Some of the original details have been preserved (for example, the original door and some of the tiles on the staircase landings) but aside from that it’s been given a thorough makeover. Listings for the condo won’t go live until March 20th and the first open house won’t be held until March 25th, so floor plans and common charges haven’t been released yet. Prices, however, will start at $515,000 for the smallest unit and range from $1,095,000 to $2,310,000 for the four others (which are sizable two-, three-, and four-bedrooms). Libby Ryan, the Brown Harris Stevens brokers heading up sales for the condo, says early indications have been very encouraging: For example, there have already been multiple offers on a two-bedroom unit that has a private terrace. Unit sizes: The one-bed-/one-bath is 547 feet and has a 110-foot courtyard; the four-bed, 2.5-bath, which takes up the garden level and part of the first floor is 2,204 feet and has a 753-foot private yard; the three-bedroom/2-bath units are both around 1,600 feet and each have private terraces; and the top-floor two-bedroom, which has 1,094-square-feet of interior space, has both a balcony and a sprawling private terrace with boffo views of the Slope. A fun detail about that that terrace apartment that’s in such high demand: Ryan told us that when she first toured the building, before the renovation began last year, it was a place where pigeons nested, and one had to wade through pigeon poop that was stacked up 6 or 7 inches! Needless to say it’s been cleaned up and the floors are all new.
107 Prospect Park West [Official Site]
Marketing Begins for 107 Prospect Park West [Brownstoner] GMAP
Details on a Prospect Park West Conversion [Brownstoner]
Behind Closed Doors at 107 Prospect Park West [Brownstoner]
03/14/2012 10:00 AM
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Progress Continues on Carroll Gardens’ 340 Court Street
A recent post on the site Insight on Brooklyn Real Estate about the formerly stalled residential project at 340 Court Street prompted us to give a call to the building’s new developer, Ken Horn of Alchemy Properties, which took over the project after its original developer, the Clarett Group, abruptly skipped town. Horn reported that the offering plans are going to be submitted to the AG’s office within the next couple weeks, and after they’re approved the hope is to get a model unit set up by June to begin the pre-sales process. The developer is keeping mum on asking prices until the plans pass the AG’s sniff test. Horn said that the 32 condos that are part of the project will only be two-, three-, and four-bedrooms, so it seems the firm is looking to tap into the family demographic. Meanwhile, four of the 11 townhouses that are also being built as past of the development will be single-families, while the remainder will be two-families. Horn says the hope is to have construction completed on both the condo building and the townhouses by July 2013. Amenities will include a gym in the condo, a children’s playroom, and most of the units will come with underground parking spots.
Development Watch – 340 Court Street Coming Soon [Insight on Brooklyn Real Estate]
Photo via Insight on Brooklyn Real Estate
03/14/2012 9:30 AM
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deancollins
May 21, 2012 | 02:16 PM