100 Congress Hits the Market
As Word on Columbia Street noted, construction at 100 Congress Street is wrapped and the new development is now listing condo units on its website. Smaller one-bedroom units are around upper $300s to mid $400s. The pricing is all over the place, right up to the largest unit, a three-bedroom for $1,600,000. The building’s got…
As Word on Columbia Street noted, construction at 100 Congress Street is wrapped and the new development is now listing condo units on its website. Smaller one-bedroom units are around upper $300s to mid $400s. The pricing is all over the place, right up to the largest unit, a three-bedroom for $1,600,000. The building’s got a lounge, a tiny fitness center, and roof terrace. Think those prices fit for living right along the BQE? GMAP
I don’t understand what the RE market is doing but it seems they are doing something right. They are 70% sold – in 4 weeks??!! Friends of mine went looking for a 1 bedroom and couldn’t get one – I went and looked for myself and the 1 bed rooms were either all sold or combined with 2 bedrooms to make a large 3 bedroom with full dining and living rooms, which I think is cool and the Roof decks were awesome – there’s one with a sun room.
The “high” common charge is probably a result of being a relatively small building. Ie, fixed costs, shared by fewer units. Additionally, lenders, including fha, are looking for fatter budgets, including reserves. Easy to check the line items in the OP and see if anything looks out of whack.
The layouts do seem somewhat haphazard though, as do the finishes.
This is the same developer who building the underground squash court in brooklyn heights isn’t it? Guess he’s getting prices somewhere 🙂
fsrg. Personally, I still cannot justify those ccs let alone put my trust in the board once they take over the corporation. A sidenote: sometimes sponsors will inflate ccs in order to attempt to recoup whatever losses they incurred after the real estate market meltdown. Just make sure you’re getting your moneys worth.
VW – the Brooklyner has 100’s of apartments and is like 50+ stories high – this is a 6 story 30unit building and has essentially the same amenities (albeit on a smaller scale) except for the kitchen on the roof and a yoga room.
The issue here isnt the ‘lack’ of amenities, it is the high common charges (which if high can be reduced by the board the minute they take over the corporation.)
I’m not sure about the prices, but the ceilings are on the low side, for my taste.
fsrg @1222p: I (admittedly) currently rent @ The Brooklyner which has laundry facilities in select units along with a central laundryroom; a 2500 sq. ft. fitness room fully stocked with free weights, stationary bikes; eliptical machines; treadmills and weight machines; a yoga room; a 51st floor rooftop terrace w/ attached lounge w/ soundsystem; flatscreen, kitchen & bathroom; 4th floor lounge with flatscreen, pool table, 4th floor outdoor terrace with barbeque grills and seating; 24 hour concierge; and garage. You should also compare amenity pkgs. @ The Toren, Oro, Edge, etc. which are far superior and well worth the $400 + monthly nut.
DH is right though. For a no-service building those cc are high. Perhaps they’re being more honest about the buildings maintenance cost and are legitimately trying to build a good reserve fund.
“DH- I think its plenty of amenities (what else could they have besides a doorman?) its just an overpiced common charge”
yeah – amenities are overrated anyways (most people don’t even use them) – just seems that the common charges are high compared to the actual amenities.
we’ll see i guess!!
DH- I think its plenty of amenities (what else could they have besides a doorman?) its just an overpiced common charge