90 First Place Knocking Cover Off Ball
Another one for team bull: According to an email from the developer last week, 90 First Place, the five-unit brownstone conversion reached the 80-percent-sold mark after just eight weeks on the market. (For the innumerate, that’s four units in contract.) Considering that most of these units were priced at or above a million bucks, that’s…
Another one for team bull: According to an email from the developer last week, 90 First Place, the five-unit brownstone conversion reached the 80-percent-sold mark after just eight weeks on the market. (For the innumerate, that’s four units in contract.) Considering that most of these units were priced at or above a million bucks, that’s a pretty impressive achievement. Could it be the layouts? The finishes? Or maybe it’s the ad on Brownstoner! GMAP
Wow, lots of people posting here who really don’t know Carroll Gardens at all. BHO thinks “Cobble prime” is close to Atlantic, but that’s just not true. The blocks near Atlantic are NOT zoned for PS 29, which makes them far less desirable than other parts of Cobble Hill, just as the blocks zoned for PS 321 used to be significantly more valuable real estate in Park Slope. First Place is about as prime Carroll Gardens as you can get, and Carroll Gardens has seen a similar rise in real estate values now that PS 58 has become a coveted school to attend. I also don’t understand sam’s doubting of the square footage numbers. This is clearly a 25 foot wide brownstone, as anyone who walks by it can see. There are quite a few similar sized ones on First Place. So the footprint is pretty obvious in terms of square feet, barring the stairwells, and I’d wager these are probably larger than apartments in big buildings that list similar square footage.
Finally, the property website links to the Halstead Realty listings, which show 3 apartments in contract. It seems pretty silly for a realtor to show that an apartment isn’t available unless that was the case (and if so, why not do this for all kinds of new developments?)
I think all real estate is still overpriced, but given what buyers are paying for apartments in far less desirable parts of Cobble Hill and Carroll Gardens, these are probably priced better than most. If you want to live in Carroll Gardens, which believe it or not, some families prefer over Park Slope and Cobble Hill, this is about the best possible location. And frankly, housing bubble aside, the value of real estate is mostly about location.
Brownstoner shouldn’t be posting what developers email them as factual unless they become Brownstoner Realty, at which point we would expect it.
“Just because you think Cobble Hill is worth more doesn’t make it so.”
True, chris. Is Caroll Gardens worth more?
Yeah, sufisurfer and sam. Sold = Close. brownstoner is an accomplice. You wouldn’t wipe your ass with a contract these days.
***Bid half off peak comps***
I agree that there is something fishy here. Five units and two have already sold at those prices? I doubt that the transactions are true “arm’s length” buyers. The units look like very tight apartments. Not a lot of luxe or space for your million dollars. Never go by square footage numbers they are often used more to mislead than anything else. and even legitimate square foot numbers would inlcude the public stair and hall, not exactly living space.
Lastly, I always think that renderings, especially arty renderings, are suspicious. Why not show an actual photo of the building? Buyer beware.
The map is pretty funny. See what they think is most important to include:
http://www.90firstplace.com/neighborhood.html
Had to laugh at Minard’s comment. So true!
BHO, my point is Cobble Hill and Carroll Gardens are quite similar. There was a time when Carroll Gardens was more desirable, and harder to buy in, than Cobble Hill.
Just because you think Cobble Hill is worth more doesn’t make it so.
there is something fishy about a developer that emails blogs every time he puts a unit in contract! I’d bet the farm he has no “real contracts,” it’s a pure bluff to muster up some interest. Everyone wants to buy the last unit, no-one wants to buy the first!
This house is prime Carroll Gardens, between Clinton and Court, 1-2 blocks from the F and G trains, and about 8-10 blocks south of Atlantic Avenue. And 1st Place is one of the four blocks with deep gardens in both the front and back of the house.