658 Park Place: The Little Condo That Could
A nine-unit condo conversion in Crown Heights seems an unlikely candidate for success story of the season but, according to a Brooklyn Eagle story, that exactly what 658 Park Place is. The limestone walk-up apartment building, which was gutted by a fire before being turned into condos, hit the market at the beginning of March…
A nine-unit condo conversion in Crown Heights seems an unlikely candidate for success story of the season but, according to a Brooklyn Eagle story, that exactly what 658 Park Place is. The limestone walk-up apartment building, which was gutted by a fire before being turned into condos, hit the market at the beginning of March at prices of between $400 and $500 per foot. Seven units are spoken for already; the two remaining units are asking $318,900 and $481,200. Broker Greg Todd chalks up the swift sales to a combination of reasonable pricing, attractive renovations and proximity to the Franklin subways. Seems surprising, no?
Bright Light on Dreary Landscape [Brooklyn Eagle] GMAP
Went to the open house yesterday, and the developer should be congratulated on the quality of the rehab. It was renovated as if he would live there himself.
The vacant building next door, and the aforementioned drug traffic on Franklin make this a non-starter for me personally, but I am not at all surprised it’s sold quickly.
Anyone know about the building next door to this (to the right)? I live around the corner and have been watching the renovations–anyone know if it will be rentals, when they’ll be available and through whom?
Thanks!
We attended the CSA sign-up event this weekend at Franklin Park. The pent-up demand for quality services in this neighborhood is very evident. It makes sense that well configured housing at reasonable prices would fair the same in this location.
Also, this is much closer to the 2,3,4,5 and the shuttle is convenient for folks taking the B or Q from Mid-town.
Personally, I don’t get the appeal. I don’t like old buildings rehabbed like new condos. And wow, this area is expensive.
I live on this block and am not at all surprised. This area is steps (or a quick, meaning 3 minute train ride) from everything. The housing stock is very nice, but not Brooklyn’s finest, which allows for more reasonable prices. As discussed on this blog, clean up the drug trade on Franklin and this area will become a true annex of Prospect Heights, not just ambitous realtor talk of said.
Why do people renovate bathrooms with absolutely NO storage? Who lives like that?
i think you mean Franklin C several blocks away and proximity to 2/3/4/5 at Franklin and EP.
There is always a demand for brand-new rehabs that provide the buyer with basically a new home within old walls. Couple that with reasonable prices and a convenient location, and it is no surprise that this project is a success.
Give people a good product at an affordable price (drop the ridiculous snob-appeal shtick) and it will sell like hot cakes.
The very low maintenance charges will have been a huge part of the attraction of these places.