Condo Buyers Not Biting in Greenwood Heights
Is the building boom in Greenwood Heights resulting in too much supply or is the quality of the projects turning buyers off? That’s the question in the wake of price cuts at three new condo projects in the area. Prices have recently been reduced by about 10 percent at the Green Hill Condos (top left)…
Is the building boom in Greenwood Heights resulting in too much supply or is the quality of the projects turning buyers off? That’s the question in the wake of price cuts at three new condo projects in the area. Prices have recently been reduced by about 10 percent at the Green Hill Condos (top left) at 324 22nd Street where all seven units are still available. With only one out of eight units in contract, prices at The Minerva (top right) at 352 21st Street were recently trimmed by 3 to 5 percent. Likewise, at the Greenwood Hill Condos (bottom right) at 313 23rd Street, where about half of the 32 units have been spoken for since hitting the market over six months ago, four units were reduced by more than 10 percent last week.
Here are the reductions listed on Streeteasy:
324 22nd Street
352 21st Street
313 23rd Street
New Development: Greenwood Hill Condos [Brownstoner]
David, most likely the location. 1/2 block from the R station on 36th St…and unfortunately 4th Ave as well.
The building’s fugly, but beauty is in the eye of the buyer, right?
Actually you should look at the Greenwalk condos on 36th St between 4th and 5th from Aguayo. Those things flew of the shelves I heard their is one left and they sold at something like $650 a/ft!?!?!?! I haven’t been inside but how come this building sol out in like 3 weks and the other building can’t sell at a lower price in 8 months??
“And, the neighborhood is still kind of grimy. Depressing, in my opinion, to shell out big bucks, work hard, and have to live among those just struggling to get by.”
Lifelong Brooklynite, huh? With fixer upper houses going for $750+ and condos (as discussed today) at a starting average of $500K (and would sell faster sans glut), what’s all this talk of being “run down” and living with neighbors “struggling to get by?”
Have you visited the neighborhood lately? While we still have a way to go to be more “Slope-like” (actually I hope we don’t, the neigborhood has and should have a different vibe) in the way of amenities, houses are being redone, new folks of all kinds are moving in and the old-timers are mixing well with the newbies, whether owners or renters.
nice mix of working class, middle class and of course now with all the new condos, upper class as well.
And hey, if we stare from our stoops, either you’re something to look at (both gals & guys) or you look like a perp 😉
Looks like “up-n-coming” rather than “struggling to get by” to me.
Its all about price, nabe is good and getting better. new restaurants are in the works for 5th and 6th ave. 15th street (5th or 7th ave)is where things start getting busy, that’s like a 3 to 5 minute walk. I would go house over condo any day. Let them shave off another half million of their profits then they will sell.
my feeling is, if you’re going to live on the R train, why not just go to Bay Ridge. I mean, none of the amenities of Park Slope are exactly nearby anyway in Greenwood Heights. For that matter, get close the N train, which is express, if you work in manhattan. And, the neighborhood is still kind of grimy. Depressing, in my opinion, to shell out big bucks, work hard, and have to live among those just struggling to get by.
A friend of mine lives on 22nd, and on garbage day I had seen multiple houses who just emptied their garbage bags onto the street. Not just recyclables and bulk items, but regular garbage sans the bag. dirty.
I agree, I’ve been there, and it is pretty boring. It’s not that far from Park Slope, but the surrounding area is boring and 4th avenue is a snooze. It seems like a lot of the locals have a staring problem as well.
Um, supply, demand, quality…or who wants to live on 22nd or 23rd street?
A lot can be had for under $900K in GWH. Definitely several flips out there in that range OR if you have the inclination, time and cash, many good homes (great bones) who need TLC in the $600-700K range.
I’d go house before condo any day.