$1.15 mil for a Crown Heights Condo?
The St. Johns Heights Condominiums at St. Johns and Classon have been on the market for a few months now, and business doesn’t seem to be all that bad: Six units that were priced in the $600- to $700-a-square-foot range are in contract. Now, it seems, comes the real test of how high-end product is…
The St. Johns Heights Condominiums at St. Johns and Classon have been on the market for a few months now, and business doesn’t seem to be all that bad: Six units that were priced in the $600- to $700-a-square-foot range are in contract. Now, it seems, comes the real test of how high-end product is going to fare in northern Crown Heights. Of the seven units Corcoran is currently marketing, two are in the million-dollar zone (the 1,506-sf triplex penthouse with a private roof deck and other posh amenities like a wood-burning fireplace is priced at $1.15 mil, and the 1,127-sf three-bed, two-bath duplex is asking $999,000). The building is near the subway and Corcoran’s touting its views. Still—$1 million for a Crown Heights condo in today’s market? We’ve gotta assume these babies are going to take a while to move, and that price cuts are going to be involved. Anyone more optimistic?
St. Johns Heights [Corcoran] GMAP
I thought this was Prospect Heights. I’m 34, so I remember when it was Crown Heights. When I moved into the nabe after college in ’95 they were calling it Prospect Heights, so who’s right here?
BTW Live across the street from this building
Plus Access to subway, bus & cultural
Minus Watched them build it, wasn’t impressed by the materials going in. Block is still ‘gritty’ so price is too high. Hope you like the sound of the Fire Dept’s sirens – they are accoss the street too.
Since moving into the neighborhood two years ago, I have already seen it change dramatcially. It seems to me that most of the new people moving in were priced out of Park Slope and Ft Green, as were we.
I saw these condos. The finishes are fine. They are very bright with good windows. I don’t know if they are priced right but they are very close to all the Park, Museum and four express trains, plus there is a new Starbucks going into the yet to be built building at Franklin Ave and Eastern Pkwy. Yippee…
while, there are no pics on the website, the amenities (esp. central air and fireplaces) look good on paper and the layout is terrific, imo. i bought in the last year, and finding a layout that worked (in a condo) was really hard.
obviously, not currently in the market, but i would have been interested in this altho i would offer much less.
i would not be so worried about the crown hts thing, but it is too much money right now for a neighborhood that offers less than a built up hood (ie: williamsburg) that has apts at a similar price point.
The Crown Heights vs. Prospect Heights label is really stupid. For some reason people get so hung up on this one and seem to feel that because a building is on one side of a street it should be worth far less than one on the other side.
This building is very close to the subway, the museum, botanical gardens, grand army plaza, prospect park, etc. It is a very short walk away from Meier’s On Prospect Park where the crappy units with no view are selling for this price.
When you walk down eastern parkway and cross over washington ave you don’t step into a war zone or anything. There’s really no reason prices should be significantly less.
And no, I’m not a broker.
Great spot. It’s 2-minutes to Brooklyn Museum and Prospect Park. 2,4 and 4,5 trains are two blocks away. The condos are a little on the small side. But a 3-bedroom for under a million is a deal. Despite what the naysayers think. Crown Heights is the next spillover point from Park Slope. It’s the next closest neighborhood after Prospect Heights.
This area is fine. Access to everything. Classon isn’t the nicest but it is also near Franklin Ave. where new shops, restaurants and a bar has opened. Also on Franklin and Eastern the ground breaking has begun on a new residential building. I have lived here since June and I definitely see things changing for the better.
1:55 = broker
For those who say it’s priced too high for the location: Where can you get 3 br and 2baths for 1 million? Here you have it with subway access and all the things park slopers claim make their property worth $2-3M. Park, BBG, museum, library, farmers market are all within walking distance.
For prospect heights fans, I think interest pushed further into crown heights as the threat of AY construction hassle takes over.
Boy crack is tasty! I would like to post the amount of subprime lender that are no longer with us
192. Charter One (Wholesale)
191. Wells Fargo – Home Equity
190. Paul Financial, LLC
189. Webster Bank (Wholesale)
188. Fieldstone Mortgage Company
187. Tribeca Lending Corp. (Wholesale)
186. WAMU Comm. Correspondent
185. Marlin Mortgage Company
184. Countrywide Specialty Lending
183. UBS Home Finance
182. MortgageIT-DB (Retail)
181. Edgewater Lending Group
180. ResMAE Mortgage Corp.
179. Citimortgage Correspondent (2nds)
178. AMC Lending
177. Southern Star Mortgage (Wholesale)
176. Liberty American Mortgage
175. Exchange Financial (Wholesale)
174. FirstBank Mortgage
173. Bank of America (Wholesale)
172. Diablo Funding Group Inc.
171. Honor State Bank
170. Spectrum Financial Group
169. National City – Home Equity, Correspondent
168. Priority Funding Mortgage Bankers
167. BrooksAmerica Mortgage Corp.
166. Valley Vista Mortgage
165. New State Mortgage Company
164. Summit Mortgage Company
163. WMC
162. Paragon Home Lending
161. First Mariner Wholesale
160. The Lending Connection
159. Foxtons, Inc.
158. SCME Mortage Bankers (Wholesale)
157. Aapex Mortgage (Apex Financial Group)
156. Wells Fargo (various Correspondent and Non-prime divisions)
155. Nationstar Mortgage
154. Decision One (HSBC)
153. Impac Lending Group (Wholesale)
152. E-Trade Wholesale Lending
151. Long Beach (WaMu Warehouse/Correspondent)
150. Expanded Mortgage Credit Wholesale
149. The Mortgage Store Financial
148. C & G Financial
147. CFIC Home Mortgage
146. BrokerSource (BSM Financial – Wholesale)
145. All Fund Mortgage
144. LownHome Financial
143. Sea Breeze Financial Services
142. Castle Point Mortgage
141. Premium Funding Corp
140. Group One Lending
139. Allstate Home Loans / Allstate Funding
138. Home Loan Specialists (HLS)
137. Transnational Finance Wholesale
136. CIT Home Lending
135. Capital Six Funding
134. Mortgage Investors Group (MIG) – Wholesale
133. Amstar Mortgage Corp
132. Quality Home Loans
131. BNC Mortgage (Lehman)
130. Accredited Home Lenders, Home Funds Direct
129. First National Bank of Arizona (FNBA) Wholesale, Correspondent
128. Chevy Chase Bank Correspondent
127. GreenPoint Mortgage – Capital One Wholesale
126. NovaStar (Wholesale), Homeview Lending
125. Quick Loan Funding
124. Calusa Investments
123. Mercantile Mortgage
122. First Magnus
121. First Indiana Wholesale
120. GEM Loans / Pacific American Mortgage (PAMCO)
119. Kirkwood Financial Corporation
118. Lexington Lending
117. Express Capital Lending
116. Deutsche Bank Correspondent Lending Group (CLG)
115. MLSG
114. Trump Mortgage
113. HomeBanc Mortgage Corporation
112. Mylor Financial
111. Aegis
110. Alternative Financing Corp (AFC) Wholesale
109. Winstar Mortgage
108. American Home Mortgage / American Brokers Conduit
107. Optima Funding
106. Equity Funding Group
105. Sunset Mortgage
104. Nations Home Lending
103. Entrust Mortgage
102. Alera Financial (Wholesale)
101. Flick Mortgage/Mortgage Simple
100. Dollar Mortgage Corporation
99. Alliance Bancorp
98. Choice Capital Funding
97. Premier Mortgage Funding
96. Stone Creek Funding
95. FlexPoint Funding (Wholesale & Retail)
94. Starpointe Mortgage
93. Unlimited Loan Resources (ULR)
92. Freestand Financial
91. Steward Financial
90. Bridge Capital Corporation
89. Altivus Financial
88. ACT Mortgage
87. Alliance Mortgage Banking Corp (AMBC)
86. Concord Mortgage Wholesale
85. Heartwell Mortgage
84. Oak Street Mortgage
83. The Mortgage Warehouse
82. First Street Financial
81. Right-Away Mortgage
80. Heritage Plaza Mortgage
79. Horizon Bank Wholesale Lending Group
78. Lancaster Mortgage Bank (LMB)
77. Bryco (Wholesale)
76. No Red Tape Mortgage
75. The Lending Group (TLG)
74. Pro 30 Funding
73. NetBank Funding, Market Street Mortgage
72. Columbia Home Loans, LLC
71. Mortgage Tree Lending
70. Homeland Capital Group
69. Nation One Mortgage
68. Dana Capital Group
67. Millenium Funding Group
66. MILA
65. Home Equity of America
64. Opteum (Wholesale, Conduit)
63. Innovative Mortgage Capital
62. Home Capital, Inc.
61. Home 123 Mortgage
60. Homefield Financial
59. First Horizon Subprime, Equity Lending
58. Platinum Capital Group (Wholesale)
57. First Source Funding Group (FSFG)
56. Alterna Mortgage
55. Solutions Funding
54. People’s Mortgage
53. LowerMyPayment.com
52. Zone Funding
51. First Consolidated (Subprime Wholesale)
50. EquiFirst
49. SouthStar Funding
48. Warehouse USA
47. H&R Block Mortgage
46. Madison Equity Loans
45. HSBC Mortgage Services (correspondent div.)
44. Sunset Direct Lending
43. Kellner Mortgage Investments
42. LoanCity
41. CoreStar Financial Group
40. Ameriquest, ACC Wholesale
39. Investaid Corp.
38. People’s Choice Financial Corp.
37. Master Financial
36. Maribella Mortgage
35. FMF Capital LLC
34. New Century Financial Corp.
33. Wachovia Mortgage (Correspondent div.)
32. Ameritrust Mortgage Company (Subprime Wholesale)
31. Trojan Lending (Wholesale)
30. Fremont General Corporation
29. DomesticBank (Wholesale Lending Division)
28. Ivanhoe Mortgage/Central Pacific Mortgage
27. Eagle First Mortgage
26. Coastal Capital
25. Silver State Mortgage
24. ECC Capital/Encore Credit
23. Lender’s Direct Capital Corporation (wholesale division)
22. Concorde Acceptance
21. DeepGreen Financial
20. Millenium Bankshares (Mortgage Subsidiaries)
19. Summit Mortgage
18. Mandalay Mortgage
17. Rose Mortgage
16. EquiBanc
15. FundingAmerica
14. Popular Financial Holdings
13. Clear Choice Financial/Bay Capital
12. Origen Wholesale Lending
11. SecuredFunding
10. Preferred Advantage
9. MLN
8. Sovereign Bancorp (Wholesale Ops)
7. Harbourton Mortgage Investment Corporation
6. OwnIt Mortgage
5. Sebring Capital Partners
4. Axis Mortgage & Investments
3. Meritage Mortgage
2. Acoustic Home Loans
1. Merit Financial
I hope this get on. Folks, money is running out for BS like this. Hoo Boy!
The What
Someday this war will end…