Condo Alert: The Lofts on Dekalb
The Lofts on Dekalb is a 32-unit complex spanning three buildings between Tompkins and Throop. At this point, the developer has seven units left; in addition, an initial buyer is selling her place before ever moving in. While we’re not seeing a whole lot of charm, it is a fair amount of space for the…
The Lofts on Dekalb is a 32-unit complex spanning three buildings between Tompkins and Throop. At this point, the developer has seven units left; in addition, an initial buyer is selling her place before ever moving in. While we’re not seeing a whole lot of charm, it is a fair amount of space for the money. The resale unit (which is having an open house on Sunday from 12:30 to 2), for example, is $595,000 for 1,838 square feet. Not bad. The units available from the developer aren’t as cheap on a per square foot basis but do have outdoor space and signature Scarano mezzanines.
Lofts on Dekalb [Corcoran] GMAP
800 Dekalb, #C2 [Corcoran]
I really like these lofts. They’re pretty fab. But they are in a blighted area, and have been on the market forever. Maybe they will help the neighborhood turn a corner.
When these first came out they were high 300 to low 400k
The problem with this neighborhood re: potential for gentrification is two-fold. First, transportation links are not good. It’s a 10 minute walk to the G train, which only runs with any frequency at rush hour, an even longer walk to the J train on Broadway, or else you can take the bus to Flatbush for trains there. Second, the housing stock is crappy. So this particular part of Bed Stuy has neither the convenience to Manhattan that was part of what made Williamsburg, nor the beauty of other formerly run down Brooklyn neighborhoods. There are no parks, other than the spookily empty Von King (aka Tompkins) Park.
Are people looking to buy in neighborhood where the time frame for the arrival of amenities is 20 years? I think this developer was overreaching in putting up this sort of building at this location.
how much do these buildings cost per square foot to build? Isn’t it impossible to charge 300,000 for a unit?
I have to say that I agree with the naysayers on this one. The developers, much like the homeowners in my corner of Clinton Hill, seem to be asking the buyers for the gentrification added value before the gentrification has happened. I live in a drug-infested corner of Clinton Hill, but I think this location is much worse. at least I can walk to amenities and schools.
P.S. That said why is everyone cursing each other? makes for very unpleasant reading.
Good Point, Omar.
But, a $700K investment in FG in the past 5 years or so has yielded favorable results.
As I stated the properties ARE overpriced. these s/d probably go for about $275-455K depending on the size
To say that these s/d be had for less than $200k is just plain “ass talk”
Oh Yea, poster 4:12, I’ll be all the “d-bag” you want me to be: So long as you late-comers keep on paying me.
@1:53,
I mentioned congestion in reference to that mess at Flatbush and Atlantic. Besides, I only drive at night and the weekend. You try relying on the A/C line around those times. Not to mention, I am tired of writing down taxi numbers and calling TLC because some of them refuse to stop when I want to go home. BUT I DIGRESS…
the point is… given the location of the condos, they are overpriced for now. It is one thing to have vision and buy early in a devloping neighborhood, but when you do get in early, you pay an early price. For example, those people who bought in Fort Greene in the late 80s/early 90’s. They didn’t by a spot for $700K and then hope the neighborhood would catch up with the investment!
4:25,
Didn’t Ping Pong sale prices take a hit in early 90’s?
Brownstoner,
GMAP links to Corcoran.