2233 Caton Avenue Sells Out
When we reported back in 2006 that a new condo building was being built at 2223 Caton Avenue, we wrote that “the 15-unit building will be an interesting test to see how far out the market for cookie-cutter “luxury” apartments can push.” Well, two and a half years later, it seems that the project passed…
When we reported back in 2006 that a new condo building was being built at 2223 Caton Avenue, we wrote that “the 15-unit building will be an interesting test to see how far out the market for cookie-cutter “luxury” apartments can push.” Well, two and a half years later, it seems that the project passed the test. We received an email earlier this week from a reader trumpeting the fact that the final two units had just gone into contract making the building sold out. Impressive. GMAP
Dave:
This one isn’t even team bear or bull, it’s the fact that they can’t even accept the fact that the building sold out, #1, and then the delusional thought that somehow this is “condo welfare.”
Most normal people would not equate those who bought 300-400K apartments to those on welfare.
Making a joke about it (if that’s what it is) is simply tasteless.
Team Bear can’t even accept the facts when they are staring them in the face.
There’s only 3 recorded sales shown on streeteasy.
01/12/2009, #6B, $330,000, -10.6%
10/28/2008, #3B, $328,500, -5.9%
09/10/2008, #2C, $386,250, -15.1%
And then there’s all this garbage about “insiders only” and “may or may not have sold”. And the most recent sale was in January?! If they truly sold out, WHERE IS THE CLOSURE DATA??? Contracts don’t mean dick at this stage in the market. Lot of holes in this story.
Team Bull can’t win on volume alone (whether these have REALLY sold out or not). They’ve got to win on price. And on price, they’re losing big time.
***Bid half off peak comps***
11217 how about sales numbers from THIS FUCKING YEAR!!!!! You know 2009????!!!! Let me help you with the date it’s June 5, 2009, OK!! Find 5 months of missing data and get back to us!!!
“01/12/2009 #6B $330,000 -10.6% $369,000 ↓ Sold 2 beds 2 baths 831 ft²”
So this means the other Retards are underwater right????
See everybody molds the date to fit their POV!!!
The What (Oh man 11217)
Someday this war is gonna end…
Does the average make the building a success? The way I look at it, the developers were hoping for 500psf, which did not happen. Worse, sales went from the “right” number in early 2007 to a steady decline by 2009. The concept was only viable at the height of the bubble.
Looking at it from the buyers’ perspective, how happy would you be if you had bought 5B for $469,000 in 2007, only to find out your upstairs neighbor bought for $330,000 in 2009?
Yes, they dropped the prices when the economy tanked. That doesn’t surprise me. The average sales price for the building as a whole is still $415,000.
Exactly the last sales were inthe mid 300’s, while the earlier sales were in the high 400’s. Now you could buy a nice 2 bedroom in Kensington for this kind of money.
What’s your excuse now…?
Building: Lefferts South at 2233 Caton Avenue in Prospect Lefferts Gardens
Lefferts South at 2233 Caton Avenue in Prospect Lefferts Gardens
Prospect Lefferts Gardens
01/12/2009 #6B $330,000 -10.6% $369,000 ↓ Sold 2 beds 2 baths 831 ft²
12/02/2008 #3C – $399,000 ↓ Off-Market 2 beds 2 baths 979 ft²
12/02/2008 #2C – $450,000 ↑ Off-Market 2 beds 2 baths 979 ft²
12/02/2008 #5A – $429,000 ↓ Off-Market 2 beds 2 baths 977 ft²
12/02/2008 #5C – $429,000 ↓ Off-Market 2 beds 2 baths 979 ft²
10/28/2008 #3B $328,500 -5.9% $349,000 ↓ Sold 2 beds 2 baths 831 ft²
09/10/2008 #2C $386,250 -15.1% $455,000 Sold 2 beds 2 baths 979 ft²
08/12/2008 (Commercial Unit) insiders only –
05/19/2008 #4B insiders only $399,000 ↑ Sold 2 beds 2 baths 831 ft²
05/12/2008 #4A – $460,000 Sold 2 beds 2 baths 979 ft²
05/08/2008 #4A+ insiders only –
04/30/2008 #2B insiders only $375,000 ↓ Sold 2 beds 2 baths 831 ft²
03/27/2008 #5B insiders only $425,000 ↓ Sold 2 beds 2 baths 831 ft²
01/09/2008 #4C insiders only –
12/26/2007 #6A+ insiders only –
12/20/2007 MULTI insiders only –
12/18/2007 #2A insiders only –
08/10/2007 – $415,000 2 beds 2 baths 831 ft²
08/10/2007 – $499,000 2 beds 2 baths 979 ft²
08/10/2007 – $430,000 2 beds 2 baths 830 ft²
08/10/2007 – $430,000 ↓ 2 beds 2 baths 977 ft²
08/10/2007 – $450,000 2 beds 2 baths 977 ft²
08/10/2007 – $450,000 2 beds 2 baths 979 ft²
08/10/2007 – $420,000 2 beds 2 baths 836 ft²
02/05/2007 #3A – $465,000 2 beds 2 baths 977 ft²
02/05/2007 #5B – $469,000 2 beds 2 baths 831 ft²
02/05/2007 #6A – $525,000 2 beds 2 baths 977 ft²
02/05/2007 #2B – $439,000 2 beds 2 baths 831 ft²
Oh Streeteasy yeah um right.
$476 per ft² (avg)
$415,000 (avg price)
So one Condo sells for 999k and the rest sell for 200k to get this “average” right?
How about real sales prices???!!!
You never cease to amaze me with your ignorance 11217..
The What (it’s over)
Someday this war is gonna end…