Wide Price Per Square Foot Range at OPP
Corcoran released the first ten apartments at On Prospect Park yesterday. While $1,200 a foot had been the number that had been bandied about for months, it was interesting to see some listings come in for far less. In fact this one bedroom is only priced at $900 a foot and it’s even got two…
Corcoran released the first ten apartments at On Prospect Park yesterday. While $1,200 a foot had been the number that had been bandied about for months, it was interesting to see some listings come in for far less. In fact this one bedroom is only priced at $900 a foot and it’s even got two bathrooms. On the other hand, some of the two bedrooms (like this one, for example) are upward of $1,400 a foot. We suspect that outdoor space and views are the swing factors.
Floorplan Porn: Meier’s On Prospect Park [Curbed]
On Prospect Park Listings [Corcoran]
Photo by Alex Terzich
I doubt they will get the prices – they will have to find 110 buyers for the apt.
It may work if it is a much smaller development with lets say 10 apts to sell.
I will be very suprised if they achieve asking prices – that being said I have been very suprised earlier as well.
This corner is sort of like the Columbus Circle of Brooklyn. It’s a little bit of a walk to get to restaurants & stores etc (i.e. over to 7th avenue) but it is right on the Park. I own a Brownstone and love it, but can easily see why people would want to live in this building. How does this price compare to some of the co-ops on PPW?
This is a Richard Meier building everyone! His condos sold for $2,500/sf in the West Village when the prevailing prices in the neighborhood at the time were around $1,000-$1,200/sf. And I agree, townhouses vs. condos are two different target markets whether some of us understand that or not.
Are you kidding me with Newswalk, Park Place and One Hanson being comperable to this building? Have you been in those developments? Park Place is one of the crappiest construction jobs around and One Hanson and Newswalk are converted factory/office buildings soon to have views of exceesive construction and, thereafter, very limited views.
Of course this building will be priced higher.
Well here’s my point, for those not following real estate trends in NYC that every newspaper and magazine has been writing about – three words, BIG NAME ARCHITECT. That’s what they’re paying for and they DO pay more for that, no matter whether we ourselves would value that feature or not.
David ..
My point exactly!
Comps – Corcoran is listing Newswalk at $900 a sq ft, the Park Place Condos (on Flatbush in Park Slope) for approx $855 a sq ft and apartments at One Hanson are in the $750 sq ft vicinity. (and BTW all have maintaince at least 50% lower)
Any other questions?
I agree there’s a huge difference between those who buy condos like this, and those who buy townhouses. By the argument “they could buy a townhouse for that” it would mean all those buying newly constructed luxury condos in Manhattan would instead buy townhouses, when the truth is those condos are selling like hotcakes.
The people who can afford to buy and will buy units like this are very wealthy busy people who have no time for fixer-upppers, or it’s a pied a terre and they don’t want a house to serve that purpose, or it’s a NYC home for an international businessperson, or it’s an American businessperson who travels a lot. Etc etc etc. Most of us would think it’s crazy to buy one of these units, but for certain people it’s ideal.
I am sorry but… this is crazy! I love brooklyn, believe me, I do…but who in the hell purchases a Condo with 1 Bd and 2 Baths with (allegedly) 1,043 sq ft for $1,050,000 at Grand Army Plaza. Is Prospect Park and the little farmers’ market THAT cool? What are the price in the bank (One Hanson) or the Watchtower building?