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]
Yes, the 321 boundaries are narrow in the slope. Those buildings are prob. zoned for 282
i don’t think brooklyn prices should be the same as manhattan. i do think they are catching up in the nice areas. and they are….quickly. end of story.
you’re a loon.
Whouah 3:43pm … pretty agressive too! Listen dude, you clearly don’t understand a thing about real estate if you think brooklyn prices should be the same as manhattan prices. fyi, i am in the real estate business and I am doing very very well thank you. I own townhouses, condos in Manhattan, Brooklyn and Queens and have sold and bought over the years. Anyway, I have 1 answer for you and it is from a NY Observer article below and then I am done with you ! You …… ….. .. ….
That will clearly prove you WRONG !!!!
The source is NY Observer from May 14, 2007, also available on the realestatebloggers.com:
[……
Manhattan had the highest average sales price of apartments at $1,107,000. Brooklyn was second at $441,000 and Queens followed at $257,000.
The average price per square foot for a cooperative was $664, a rise of seven percent compared to last year. The average price per square foot for condominium rose 19 percent to $791.
The average price per square foot for a Manhattan apartment increased three percent to $1,013. Brooklyn and Queens recorded the next highest prices per square foot for an apartment at $476 and $348 respectively.
The median sales price for a condominium increased in all five boroughs. The Bronx and Manhattan showed the highest percentage increases at 17 percent and 10 percent respectively.
…..]
i’m pretty sure berkeley place is in the ps. 321 district and that’s north of union.
FYI, the Vermeil is not in the P.S. 321 district, whose northern border is Union Street.
FYI, the Vermeil is not in the P.S. 321 district, whose northern border is Union Street.
way to backpeddle, 3:37.
i think every single poster on here said they were overpriced. that’s not news.
your comments were more about how you didn’t think brooklyn prices should be anywhere near manhattan ones, which means to me you need to go visit your two townhouses a little more.
Actually 3:28pm I also own 2 townhouses in Park slope (and a few appts in NY) which I rent … but anyway, as I said before, whatever makes you happy … I don’t want this forum to turn into a heated discussion (and you calling me names 🙁 …) between you and me and our very different takes about what the real estate MARKET is all about …
Bottom line, I think these appartments are overpriced which is well reflected by the recent price reduction … They will sell eventually when the prices are right.
Though I do think it’s a great location, I agree with 3:15pm nobody wants to feel they overpaid. Good point. People pass up good deals (not that these condos are “good deals”) all the time for that reason. A bit of nervousness about very small details even, can create or build that worry about overpaying. I thought the kitchen was inadequate in the model at the Vermeil. I’ve posted that before. For these prices for family size condos people want one of those open layout, giant kitchen family rooms. I personally don’t like those, but for that particular space at the Vermeil model, that would have been more appealing to buyers. Right now it’s an “eh whatever, it’s okay” reaction to the kitchen and bathrooms. The bathrooms had woefully inadequate storage. Which is bad for families. It feels like a summer place. You know? Not year-round, heavy duty kitchen and bathrooms.