$1,000 PSF on Below Fourth Ave? Gimme a Break
Our first reaction to this listing was that it had to be a joke. But on closer inspection, it appears to be a legitimate, albeit delusional, attempt to push the bubble to its outer limits. In fact, this one might burst it. Over $1,000 a square foot for an average-looking, new-construction condo on Seventh Street…
Our first reaction to this listing was that it had to be a joke. But on closer inspection, it appears to be a legitimate, albeit delusional, attempt to push the bubble to its outer limits. In fact, this one might burst it. Over $1,000 a square foot for an average-looking, new-construction condo on Seventh Street below Fourth, yes Fourth, Avenue? We don’t know what else to say. We’re stunned.
7th Street [Corcoran]
jemstone,
Yeah, I don’t want to give the impression that between 3rd and 4th Aves is Scary Hell Town. There are some very nice blocks — though I would say this particular block of 7th is not the prettiest of them. (Your block on 11th is quite nice I think.) I use the 4th Ave N and R stop and like it. But that doesn’t make this Corcoran condo any less overpriced. (As I recall, the Tribeca refugees paid @$800K for a 3 story.)
ltjbukem, I’ve heard a lot about prostitution on 3rd but haven’t seen it driving about. I may just be naive and unobservant, tho. Did you want a comment on their existence or their quality? Maybe there should be a Brownstoner forum comparing the hookers of the borough’s nabes.
Of course there’s life below 4th Avenue. I read that NYTimes article about the Tribeca family that moved to the area, and if I remember correctly, they paid $700,000 for a three or four story house, $1m less than this property. Just because $1.7m seems outrageous for the area doesn’t mean it’s not a nice area.
As to the prostitutes on 3rd Avenue, I know that a little further down (in the teens and 20s along 3rd Avenue), there are strip places and prostitutes were fairly common around there as well. Until recently (last 10 years or so), the docks at Bush Terminal were operational …. and so dock workers lived/hung around in the vicinity under the highway … and for some reason, the presence of dockworkers correlated to the sex trade. Same thing along the West Side Highway in the West Village, at least until recently.
Amen to the comment on the F train. That is why being near to the 9th Street or Prospect Ave stops for the M and the R is so much better than just being stuck near an F stop — sorry Windsor Terrace.
there is life over here below 4th Ave! I live on 11th between 3rd and 4th (have a wood frame house w/ tenants) and it is a lovely and residential block. there was even a NY Times article about some Tribecans who bought a house on my block and they survived the move to this “marginal” area. best part of this area is that our subway stop has an F and an R train … being a slave to just the F or C trains is such a drag. so there.
The 2007 for Whole Foods was from an article. It would have been posted here or on Curbed.
Sloper – There is an open house on Sunday, so there must be something there. I don’t understand why the Corcoran site does not have any pictures though. Maybe it is only just now being finished.
Perhaps we should all take a look before we jump to conclusions, but $1.6 seems a bit high.
I heard the Whole Foods was due to open in 2006 (and, yes, at 220 3rd Street). Where did you hear 2007?
1,500 square feet, let’s assume nicely done, plus outdoor space. I’ll be generous and guess $650 sq ft, which puts it at just under $1 million. I think some of the penthouses in the Ansonia Clock Tower have been on the market recently in the $1.2-$1.4 million ranges, and I think those apartments are probably the best comparisons, albeit they are in a much nicer location. I think anything over $1 million in that location is pushing it. Maybe $1.1 million for the nicest penthouse.
And yes, they are built.
Is that built already, or are they selling it before construction? It looks like an artist’s rendering.
If they actually get $1.7m for a 3 bedroom on 7th St between 3rd and 4th Avenues, then the same price for the brownstone on Pacific is a very good deal.
I can’t imagine they’ll actually get that price though. What do people think a fair price would be? To me, seems it can’t be worth more than $700,000, tops. Of course, “worth” is very subjective.