Condo of the Day: Price Cut at The Vermeil
It looks like things ain’t going so well over at 133 Sterling Place in Park Slope. Despite having been on the market since the beginning of the year, there are currently 21 unsold units on broker Sandy Biano’s listings page (which seems like a lot given that Property Shark says it’s only a 17-unit building!)….
It looks like things ain’t going so well over at 133 Sterling Place in Park Slope. Despite having been on the market since the beginning of the year, there are currently 21 unsold units on broker Sandy Biano’s listings page (which seems like a lot given that Property Shark says it’s only a 17-unit building!). Three of the more expensive ones got big price cuts on Friday but are still far from cheap. There’s no doubt that this is a desirable location and that there is a need for family-sized apartments; perhaps there are just fewer families willing to shell out close to $2 million for an apartment when they can go a couple of blocks across Flatbush Avenue and get a house for that price. When we posted about this place back in March, reader comments ranged from “I saw the model apartment and thought it was quite nice” to “I can’t get beyond the prices.” Presumably more than the model apartment is viewable by now. Has anyone stopped by recently?
133 Sterling Place Listings [Brown Harris Stevens] GMAP P*Shark
Update On The Vermeil [Brownstoner]
Reduced Brooklyn Listings [NateFind]
4.27PM. THANK YOU. Here goes my point!
Of course they are overpriced. And they’re not attractive. And there no cornice on the roof (to make a classic b’stoner gripe.) It’s too bad. The location is great. The younger park slope crowd (meaning very young families, or even younger, gasp, not wanting families yet) seems to definitely be favoring the north slope- better train access (2/3, Q/B and Atlantic Ave is reasonable when all else fails.) 5th avenue shopping and restaurants are close. The park is still nearby. Prospect Heights and Vandy are nearby. You can walk to see your friends in Boerum Hill, Clinton Hill and Fort Greene. This speaks to why Crunch took over the Flatbush Ave gym, for instance, and why American Apparel opened there. Franny’s is over there too.
Many people I speak with who have considered the move or made the move to the Slope aren’t really looking in center slope, as it feels old, far from the city, and many think that 321 is overrated and yesterday’s news. School-wise, people seem more excited also about south slope with PS 107 and also a younger crowd.
Nothing against classic center slope- it’s beautful, but there’s definitely been a disconnect between older received attitudes and the reality of what people consider to be prime slope in the last few years.
http://corcoran.com/property/listing.aspx?Region=NYC&ListingID=972065
Looking at the natefind reduced list, I thought the above was extremely overpriced as well.
i rather like flatbush. especially near 7th avenue. it’s got a lot of what park slope used to have and things it seems people wished still does have.
diversity. in both people and in the retail.
families live all along broadway on the upper west side and plenty of other busy thoroughfares throughout the city, so i can’t imagine why flatbush would deter that many folks.
3:05pm. not trying to convert anyone to Williamsburg. why would I? i just personally love it, and I have made so many friends since moving six months ago, and my husband and I are having a blast at the bars and restaurants. There are tons of playgrounds for our toddler, and 2 different kids playrooms with cafes for the adults within 4 blks of us. Saturday, we attended a free kids concert at Pete’s Candy Store. Great old bar (sure many of you know it). They have this just about every Saturday all summer.
in any case, i was just giving a personal anecdote relevant to the ongoing discussion. obviously, all are free to do whatever they want. i was only speaking about price per sq ft and my slant on the neighborhoods. i sold my slope place for a big profit and could have bought wherever. i really do think that the area is becoming super generic, and i also was tired of the distance to manhattan. manhattan is simply more usable from williamsburg.
also, not sure what you consider a shack. heard from a broker friend (not at elliman), and not invoved in the project, some very good things, about 20 Bayard and a couple of other buildings in Greenpoint. curbed readers trashed my condo complex too, yet when i had it inspected, the inspector was super impressed with the construction.
again, could care less who moves to williamsburg or greenpoint. just presenting my viewpoint. my condo complex was like 95% sold within a couple of months of coming to market, so the buyers are there for williamsburg. think all units but one are now occupied.
fyi: i’m on my 3rd property in Brooklyn (cobble hill, slope, williamsburg), so i do have some experience in the Brooklyn markets.
and a ps: the view from our roof deck doesn’t suck either. and no, the toll brothers buildings won’t block it.
For family sized apartments you are still too close to Flatbush for my taste (noise, grime) and not in 321. So whypay that much to be on a busy and loud street?
if you live in carroll gardens, you can certainly afford a place in manhattan. might be above 96th street, but it’s still manhattan.
unless you’re rent controlled/stabilized or something in cg.
this is a little after the fact – but I grew up in manhattan and have lived in brooklyn for 11 years (williamsburg and now carroll gardens) and I would certainly live in Manhattan if I could afford it. Brooklyn certainly has its charms that we have all come to know and love, but the reality is, 20 years ago many of us would have been living in Manhattan because it is simply more convenient.
well i’m not sure after hearing some of the comments that they’d be ideal for families, anyway.
these might appeal more to the young couple, single or maybe just having a first child before school kinda places.