I think the bottom line is if you're looking for a converted loft, rather than new construction, the price is more than reasonable - it's a steal. Comparable loft conversions in either Dumbo, Williamsburg or Bushwick command far greater $$$ or have other significant drawbacks (lots of windows but no views/light; desolate locations; lesser quality amenities, etc.)

Also regarding raising a building reserve on a new building? Absolutely. Most new buildings aren't left with any reserve by their developers. Better to have a reserve and cash ready than to slam owners for an emergency assessment.

Posted by: archetart at June 19, 2009 12:17 PM in response to Condo of the Day: 970 Kent Avenue, #107

I think the bottom line is if you're looking for a converted loft, rather than new construction, the price is more than reasonable - it's a steal. Comparable loft conversions in either Dumbo, Williamsburg or Bushwick command far greater $$$ or have other significant drawbacks (lots of windows but no views/light; desolate locations; lesser quality amenities, etc.)

Posted by: archetart at June 19, 2009 12:15 PM in response to Condo of the Day: 970 Kent Avenue, #107

I'm a former resident of the building. It's really a nice place - Great community of residents, most of whom care very much about the building and the quality of life there. The units, in general, are very good compared to what else is out there in the 450-550/sf range. If you're looking for a true loft space (concrete ceilings & beams, open plans, lots of windows and light) this building fits the bill. The upper floor units, particularly in the rear face due west (I enjoyed spectacular sunsets most nights) overlooking Pratt's campus, downtown Brooklyn and lower Manhattan. Maintenance isn't really as high as posted - it's likely a special assessment to bolster the building's reserve. What's nice is that the building doesn't have the cold feel of most new developments - it has a warmth to it and that's also reflected in the community who lives there (over 100 units, so it's a big community.) Is it high-end construction with superior finishes and located in Dumbo? No, and that's reflected in the pricing.

Posted by: archetart at June 18, 2009 4:06 PM in response to Condo of the Day: 970 Kent Avenue, #107