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]
“I was just trying to explain why condos priced at Manhattan prices are not selling well in Brooklyn.”
i suppose the reason why you think i overracted is simply because you don’t know what you’re talking about. walk 2 blocks from here and you will find richard meier’s on prospect park closing in on 75% sold and those apartments are far more expensive than the vermeil. definitely manhattan prices there.
you can not make a generalization about an entire market of condo units in brooklyn based on the vermeil. that’s just dumb. these may be some of the more expensive per square foot around, but there are many factors that go into nyc real estate than simply ppsf.
if you know anything about park slope or much of brownstone brooklyn, you’d know that most quality places (of which little comes on the market in the first place) are sold within a matter of days or weeks. that’s why this thread on the vermeil is especially noteworthy.
it is the exception as of late.
what do you consider prime park slope if not 7th ave and sterling right in the middle of the landmarked historic district, ps. 321, two blocks from prospect park, grand army plaza…
expensive, yes. but i happen to think the closer one is to flatbush, without being right on it is considered prime as one is near the Q, 2, 3 trains instead of the god awful F.
part of the reason why some don’t like park slope is because if you are down in the numbered streets, it’s a hike to the train and a pretty crappy one at that.
i think for the high end condo buyer that this would need to attract, that good access to transportation to manhattan would be top on the list.
Perhaps the problem is that it really isn’t a prime PS location for these prices. I wonder if a better selling strategy might have been to underprice a few of the smaller units to get signed contracts before releasing the bigger ones? My impression on new developments is that no one wants to feel like they overpaid.
Anon 2:52 ..
I actually do live in Manhattan … You take things too personally I think ! I was just trying to explain why condos priced at Manhattan prices are not selling well in Brooklyn. Someone who is ready to lay down $2.1mln for 1781sqft wants convenience and location… Whether you want it or not, real estate prices are driven by location … This was a general statement, nothing against you or people who do actually prefer Brooklyn. Take it easy my friend. The real estate remain a market … as emotionally attached as you are to your hood …:)
Actually, 2:33pm, when I make comments on real estate I base it on what I observe of OTHER buyers and what’s going on in the market. Not just my personal opinions. Obviously that’s not the case with you, but don’t project that on me.
I already bought a house last year, thank you, and yet being an owner of a house I can totally utterly completely understand why someone would prefer a condo over a house. We love having a house, but please, the only people who don’t understand why someone else’s lifestyle would do better with a condo is someone who does NOT actually own a 100 year old house! Like what about someone who has a very busy job, or spends half the year in another state or country? 100 year old houses are high maintenance. Be prepared to put work and time into it. Lots. Read the thread on Forum from last week where a bunch of people confessed in a very honest and helpful way how difficult it is to own an old house. It was amazing. You never see such honesty instead of posturing, on brownstoner. Forum of course being the section of this site who actually do own houses, not just talk about them.
if you call those shacks they are putting up around mccarren “nice” we definitely have a different opinion of nice. these vermeil condos might be expensivo, but we are talking about apples and oranges. these are high end in a great location.
and there are probably few people who live in brownstone brooklyn who really want to live in either williamsburg or greenpoint. i could be wrong.
i love all of brooklyn including those two hoods but you couldn’t pay me to live up there.
roebling square
not everything was that low per sq ft
my unit was mayber under priced.. also bought it almost a year ago.
much new stuff is now listing at higher altho 55 Berry might have some decent priced units.
the waterfront new properties are much higher.
there were some deals on the other side of the BQE near Graham Ave. not sure now.
lots of nice new places coming up in greenpoint – especially around McCarren
condo dweller is trying to get more people to buy all of the hideous new construction condos on williamsburg’s waterfront.
no thanks.
“You might PREFER Brooklyn but you are a minority. Sorry :(”
uhhhh….and you are on this website, because…..?????
i think if you ask most people who actually live in brooklyn, that those who prefer brooklyn over manhattan are indeed in the majority.
you want to talk about generic…i’ll agree that ps is a little bit this way (although not really on 5th ave) but have you ever been to the upper west, east, midtown, chelsea before???
manhattan has quickly become far more generic than any neighborhood in brooklyn.