53 Lincoln Condos Hit the Market
A new glassy addition to the brownstone block of Lincoln Place between 5th and 6th Avenues in Park Slope just hit the market this week. The modern building has four apartments—three floor-throughs and one duplex—ranging in price from $995,000 to $1,950,000. (It looks like Aguayo & Huebener is sharing the broker duties with Sotheby’s.) It’ll…
A new glassy addition to the brownstone block of Lincoln Place between 5th and 6th Avenues in Park Slope just hit the market this week. The modern building has four apartments—three floor-throughs and one duplex—ranging in price from $995,000 to $1,950,000. (It looks like Aguayo & Huebener is sharing the broker duties with Sotheby’s.) It’ll be interesting to see what the appetite is for spaces in this area that are priced at almost $1,000 between $800 and $900 a foot. What do you think?
53 Lincoln Place [StreetEasy] GMAP
“Also, Europeans have discovered the Slope and that also makes me scared it may not have the ridiculous drop our bf the What keeps getting excited about.”
How old are you 28??? 28 years ago NY City was a nightmare and please don’t say the Asshats have made things better because it’s not true! The funny thing is most of you never experienced the dark side of New York well your chance is coming up very soon. Service cutbacks, unemployment, high taxes, crime and anything from the good ole days will make a comeback. Keep believing that “Green Shoots’ Bullshit and New York is the capital of the world nonsense. Wall Street and investment Banking are toast. Advertisement is all on the internet now and you can work from home. Newspapers???? They will be out of print very soon! The only growth trade for NY is drugs making a comeback, I feel real sorry for you! Your ASSumptions is going to get you financially killed!
The What (Keep on Keeping on)
Someday this war is gonna end…
They’re pretty big and the location is good, as are the finishes. So I think they’d rent for about $3500-$4K/month. Otherwise, I agree with the What.
But what is up with the not wanting to live near schools? I see that often here and I really don’t get it.
Etson, true. But if people start buying in Manhattan it will influence the market in the Slope. I think a some commodities ETFs would help hedge against inflation on that front, especially with the QE, but I think you are right about the prices being out of whack. A big deciding factor will be Obama tax policies. If the tax scheme works to remove the ability to deduct income from RE mortgage of primary home then real estate for high end buyers is screwed in which case I probably won’t be buying a brownstone in a long long time.
Hah, I am originally from the UK, although I ‘discovered’ Park Slope when I moved here 10 years ago. Have not moved there yet as I spent much of my time here working in CT so was not practical until recently.
There are of course other inflation linked investments that you can put your money in to reflect your view of the dollar. I just think real estate is still out of whack in relation to incomes. Also, I don’t think wealthy European financial buyers would be buying up townhouses in large numbers. If they are only there for less than half the year they don’t want the hassle of maintenance.
Yeah, I mean frankly my next home, if a purchase, will be a 30 year type thing (unless Brooklyn is under water then! :)) so to me it is a big deal. I want it to be as perfect as possible and something I will be excited to come home to. I LOVE my block so I can see myself buying there. Price fluctuations are not a huge deal, but obviously it would be great to have OK timing in the next few years. The problem I have is that I think the $ is going to tank in the next few years which may influence NYC prices again. That is my fear. I think the NYC market is now too international to be based solely on the financial employment market. Also, Europeans have discovered the Slope and that also makes me scared it may not have the ridiculous drop our bf the What keeps getting excited about.
The best part was them going out to pennsylvania for “the best” natural stone to put up around the backyard built-in BBQ. They would always comment how the Lincoln Place project was bleeding them dry.
saminthehood, amen.
Weve watched the entire Under Construction series and saw the process of them putting up the building, and we constantly wondering out loud (1) how out of place the building seemed; (2) who did they consult with for the layout and design features – cause they seemed pretty personal and subjective; and (3)how much they would charge for the units – we never in a million years imagined they would ask this much. Considering that Design tech’s business has slowed, they will probably need to sell these to keep afloat – which gives the buyers the edge.
Despite the “trend” reported by the NY Times that people are returning to Manhattan to take advantage of falling prices there (rentals first and presumably the trend will eventually hit sales as well), the target market the developers of these new condos must be targeting are people who wanted a condo loft in Soho but can’t afford that type of real estate. This is the only reason I can come with that a) developers continue to churn out these ugly over-windowed condos that stick out like a sore thumb in what was until their arrival beautiful blocks and b) think that they can charge jut below Manhattan type prices per square foot for these Soho-like condos. As the person who wanted but was until now unable to afford the Manhattan condo on the island begins to realize that prices are dropping there, they won’t want the Manhattan-type condo in Park Slope. Pity the developers then because no one who moved to PS for the charm of the neighborhood is going to want to move into these apartments (certainly not at these prices anyway).