Is 4th Avenue Losing Its Lustre?
Is the condo building frenzy on 4th Avenue grinding to a halt? A couple of weeks ago we found out that a would-be developer on 4th Avenue between 8th and 9th streets had decided to sell off his property along with the approved plans for a glassy condo he planned to build. And now we’ve…
Is the condo building frenzy on 4th Avenue grinding to a halt? A couple of weeks ago we found out that a would-be developer on 4th Avenue between 8th and 9th streets had decided to sell off his property along with the approved plans for a glassy condo he planned to build. And now we’ve learned that another development site just a block away is also on the market. Massey Knakal has a listing for 426 4th Avenue that includes plans for the building shown above. The 50-by-60-foot lot (see photo on jump) is going for $3.75 million; according to Property Shark, it sold for $500,000 a few years ago. So what gives? Why are these guys bailing on their projects? Is 4th Avenue looking like a shakier bet than it did a couple of years ago?
4th Avenue Glassy Condo Site Asking Almost $10 Million GMAP P*Shark
4th Avenue Condos: The Next Generation? [Brownstoner]
1:28 just bought at the novo
I am 1:28, and I assure you, I am not a broker. Nice try, though.
What if Dad doesn’t have a subscription to a magazine he really wants? Does the analogy still work?
“a well executed building on 4th not built by a hack”
Hahahahah! A unicorn sighting on 4th avenue is more likely than that.
1:28 is a broker. so is 2:09.
brooklnnative is the new “the what”
a similar development site just traded for over $210 per buildable foot further up on 4th ave. That’s a sign of a strong market not a decline. This whole line of reasoning is incredibly dumb. Novo and Crest got very strong prices for two of the ugliest crappiest buildings in brooklyn by easily its worst developer. This would seem to bode well for a well executed building on 4th ave not built by a hack and designed by someone not named radusky or scarano.
While sunset park maybe physically further from manhattan, it can be quicker to get to if you take the N express and don’t have to wait to transfer to the R at pacific/atlantic.
Fourth Ave never had any shine to it just like Third Ave. For that matter, neither did 5th until it became hotter than 7th ave.But who’s on First? (couldnt resist)