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
how can you call it 30% over prevailing when not built yet too.
Where are your comps for very lux, modern condo bldgs.
Yes some people prefer Brooklyn over Manhattan and some people prefer Buffalo over both of them, but it doesnt mean that you can get away with charging 30% more then the prevailing market conditions.
Further how you can call this “the best building bar none” when it isnt even built yet is truly beyond me.
“its over 1000sq ft of upscale apt with great views in very pricey neighborhood.” <---- Stupid Comment Like someone said above using even the most generous measurements it doesn't come close to $1,000 square feet. Sure I'll give you upscale apartment with great views, but please tell me when Prospect Heights became a very pricey neighborhood?
10:38
I fully understand that different people like townhouses vs. condos. However, I believe the pricing should still be similiar. In Manhattan (for example) townhouse space is actually more expensive than condo space (in general).
People can pick their preferred living environment, but I believe the pricing of these condos are expensive in light of how much it costs to buy a townhouse.
If I could afford it, I would buy it, high prices and all. I think that the developer is making a very simple bet: there are people who prefer to live in brooklyn then live in manhattan. And if you have the cash, this is the best building in brooklyn bar none. It’s really pretty simple. This will be one sought after building in the resale market.
What astounds me though, is not so much the prices, which I expected to be high, but the maintenance. This place should have some pretty amazing amenties for these maintenance charges. Or maybe it just costs a fortune to heat because it’s all glass……I guess if you have that kind of cash, the maintenance is just a drop in the bucket.
Except that 1 br ISNT priced at $900 a sq ft. Using there floor plan and being as generous as possible it is a 875sq ft apartment. Therefore at 1,050,000 it is $1200 a sq ft for this one BR.
Compare that to CORCORAN’s listing in Newswalk at 1.4M – which even accounting for that overstatement in sq ft (it is really only 1550 sq ft) – they are asking 900sq ft and it has less than HALF the maintainance.
Sorry but there is no way that they are going to get $1200 a sq ft in Prospect Heights – and that is not even factoring in totally insane maintainace expenses.
Isn’t the sales office in Tribeca?
“4 is the new 2”
prospect park is the new central park.
Pluses, it’s within walking distance to the park, the museum, the botanical gardens, the slope, the heights and downtown brooklyn. some of those apartments probably look out on both the fountain at grand army plaza and the one at the museum.
Price is still a whopper though.
stupid comment —>’Over 1 million for a one bedroom in Brooklyn?!?! ‘ –
its over 1000sq ft of upscale apt with great views in very pricey neighborhood.
The ability to get their orig. asking prices will be determined by strength/trends of condo market.
I would think that developers, financial backers, et al have good sense of how to price, what is their target demographic, etc.
we’ve seen plenty of 10% mark downs on new condos recently – this place may also get one.
Very different person of wanting ultra-mod luxe condo than buyer of brownstone. Room for both in the neighborhood.