1200 Pacific Back on Market
We’re a little confused by what’s going on at the Bedfordshire, the absolutely gorgeous five-story, ten-unit apartment building at 1200 Pacific Street between Bedford and Nostrand in Crown Heights. According the Property Shark, it looks like the property just traded for $13 million back in May of this year. Now, Corcoran has it listed for…
We’re a little confused by what’s going on at the Bedfordshire, the absolutely gorgeous five-story, ten-unit apartment building at 1200 Pacific Street between Bedford and Nostrand in Crown Heights. According the Property Shark, it looks like the property just traded for $13 million back in May of this year. Now, Corcoran has it listed for $2 million. Is this some kind of typo?. It is, after all, 12,700 square feet large. Regardless, these should make killer apartments. Does anyone know if the interiors are lofty, as the exterior suggests, or are they cut up into smaller rooms?
1200 Pacific Street [Corcoran] GMAP P*Shark
Beautiful building, great interior renovations … HORRENDOUS NEIGHBORHOOD!!! If you don’t mind living next to the men’s homeless shelter (soon to be NYC’s central intake center for ALL HOMELESS!!!) this building is for you… If you don’t mind piles of garbage from the adjacent building on your doorstep (that will never change) this building is for you… If you don’t mind loads homeless men (don’t get me wrong, I feel terrible for them and the conditions they suffer through at that armory) loitering, urinating, hissing, dealing drugs, promoting violence and further decay of Crown Heights on your doorstep this building is for you… If you don’t mind being part of the losing battle against the growing number of residential social service beds in Crown Heights this building is for you… If you don’t mind that the “powers that be†in NYC are bussing more and more homeless to the armory right next door late in the night, right under your nose this building is for you… If you don’t mind that this neighborhood is home to some of the worst public school systems in NYC this building is for you… If you don’t mind locking yourself inside starting at 8:30pm to avoid becoming a statistic or a victim of a heinous crime this building is for you… If you don’t mind living in a neighborhood without diversity this building is for you… If you don’t mind living very, very far away from other Brooklyn communities with stable environments, low incidence of crime, and lots going on in terms of business development, diversity, and overall growth this building is for you… If you’re willing to compromise your safety for the enticingly low prices of these condos this building is for you… If you’re willing to wait about 20 more years for this neighborhood to actually be talked about as “up and coming†this building is for you…
I noticed there have been some “in contract†stats posted, but why haven’t there been any closings? Certainly someone went with a private lender with no presale requirements. These have been on the market for AGES… I wouldn’t be surprised if the building was bankrupt and they were just sitting on deposits without any plan to refund. It also wouldn’t surprise me if the building failed inspection and reverted back to rentals (there is currently no CofO in place…) Strangely some of the listings mention “roof deck†– however the only outdoor space for this building belongs to the 1st floor unit(s). The roof has no deck in place. I truly hope buyers of these units have good lawyers…
Does anyone have any more feedback about this building & area?
It has now been renovated and is currently listed with Prudential:
http://realestate.nytimes.com/sales/detail/46-1092942/1200-Pacific-Street-Brooklyn-NY-11216
A total of 10 units. Looks like a nice job on the renovations.
seems to be delisted by coccoran, anyone know what’s happened?
This is a once beautiful apartment building on a block that will take a while to get up to snuff.
Good points – next door to newly (and nicely)renovated, magnificent landmarked building by Montrose Morris, The Imperial Apartments. Across the street from one of the most charming, and underrated churches in Brooklyn with a Tiffany window, St. Bartholemew’s Episcopal Church, with its rectory and hall. Also very close to subways, LIRR stop, buses and Restoration Plaza in Bed Stuy.
Bad points – the rest of this block consists of some rather scary apartment buildings on the same side as this building. The other side of the block is a combination of apartment buildings and brownstones and the church grounds. One of the brownstones is being renovated now, hopefully for the better, but the rest are pretty run down, although are very large, and have potential. The shelter at the armory is a point taken, as well.
All in all, it’s going to take a lot of time for this block to catch up to the better parts of Crown Heights, let alone anywhere else. I think, because of its closeness to the subways, etc, it will be on the up and up sooner than similar blocks that are farther removed from transportation and services, but it’s not there yet. A potential buyer might be thinking of the future, rather than what could be gotten out of it now.
I would bet that it’s been further cut up. This block is considered Crown Heights now, but as others have pointed out, it used to be considered a part of Bed Stuy, as was much of Crown Heights.
the 13 mil. is for a bunch of properties he owns not just this one they were tied to one large mortage thing.
The police precinct extends to Dean St.; ask anyone who grew up there and you’ll be told it’s Bed-Stuy. Of course people who grew up in PLG will tell you it’s Flatbush, too.
This was on the market last year for $1.2 and didn’t sell. I think it has a couple more vacant units but not enough to make this big of a difference.
This block is also kind of sketchy, it’s a stone’s throw from the men’s shelter on Bedford. On the plus side, the building next door was just renovated as low income housing. At least it’s not the shell that it used to be.
Bed Stuy ends at Atlantic Avenue. This property is within the first of four parcels in what is becoming Landmarked Crown Heights North.