Price Hike At The 14 Townhouses
On the heels of the yesterday’s Adelphi Street price hike comes news of a price increase at the 14 Townhouses on State Street. Despite the fact that sales have been on the slow side, the developer has decided to boost the asking price on the larger model from $2,750,000 to $2,900,000. This is a surprising…
On the heels of the yesterday’s Adelphi Street price hike comes news of a price increase at the 14 Townhouses on State Street. Despite the fact that sales have been on the slow side, the developer has decided to boost the asking price on the larger model from $2,750,000 to $2,900,000. This is a surprising turn of events but the folks behind this development are seasoned real estate pros so we can only imagine they have good reason for the move. Unless it’s purely a Corcoran pricing ploy.
269 State Street [Corcoran] GMAP
14 Townhouses Update: Slow Going, At Best [Brownstoner]
I drool every time I drive by these places. They are f-ing fabulous. The design seems so simple. Why can’t all new construction be like this. They’re just plain boxes not even much exterior detail (except for some fancy copper stuff on a few of them), open floor plans, floating staircases.
Maybe the finishes are really nice, but mostly people seem to be paying for the location. It would be so easy to build these someplace else and charge less. Why are we stuck with the Fedders scourge over here in BedStuy and CH????!!!!!
11:49, I think Mr. B is referring to the developers, not the Corcoran agents.
You know, I think that sellers SHOULD know the ins and outs of pricing, for their own good. I mentioned this yesterday too (didn’t defend West but I will today- he’s right). Sellers should get their property in the best shape possible, be realistic about their own goals, do the research, know the comps in their own nabe and elsewhere and set prices at the market level, not their dream price, then HIT THE BID. The longer a property is on the market through poor pricing, staging, dodgy contractual practices, etc. etc., the greater the chance they they get discussed on brownstoner and achieve the dubious distinction of becoming a STALE PROPERTY. For what it is worth…
I keep saying this about the bigger properties, it’s so rare for developers to offer big family-sized condos or townhouses in new construction. I think the rare few who do offer them will sell them for a lot of money, even if they are overpriced purely on a per square foot consideration. Some people have neither the time nor inclination to do a reno for years on a 100 year old house (being in the midst of one myself I don’t blame them at times that’s for sure) and yet they want the space a house offers. More developers should get a clue and offer more 4BR, or 3BR plus office/den, sized condos. Brooklyn is a place for families. But you wouldn’t know it by looking at all the new buildings filled with studio and 1 BR units. Developers are thinking they’ll maximize their profit by offering a greater number of small units, but really, how many singles (or couples without children) are going to buy high-end luxury condos in Brooklyn and not Manhattan? Especially in Brooklyn nabes that aren’t totally “there” yet. A family will buy in a borderline neighborhood in order to have a lot more space. But I have a hard time seeing some young wealthy professional single buying a 1 BR luxury condo in a borderline Brooklyn neighborhood. For them the nabe will have to be hot hot if it’s in Brooklyn, or they’ll stay in Manhattan.
It’s funny that brownstoner calls these two Corcoran agents seasoned pros while he indirectly insults the other Corcoran agent who has 351 Adelphi. What’s up with that? All Corcoran agents are pretty much the same to the world at large I think.
That’s ok west, you and many others know you weren’t talking out of any orifice other than your mouth.
The agent got touchy because it’s true – the final call is the sellers. But who are sellers listening to for advice and guidance? Sellers are generally normal folk – they don’t know the ins and outs of pricing strategy. So where on earth could a seller come up with raising the price when something hasn’t sold other than an agent, where a normal person’s reaction might be “gee, not selling, no offers, maybe it’s overpriced.” (although we know that no seller ever thinks their home, no matter how crappy, is overpriced).
This is an interesting strategy, that I can see working in a lower price range, but at this price range – no way.
Can’t this be blamed on wall street bonuses?
Would it have killed them to spend a few extra bucks installing cornices? These facades are totally bland.