Athena Prices a Big Fat Myth?
A reader writes in to say he feels misled by how prices were determined for 245 16th Street, aka the Athena: I was one of the first to be shown the new 245 16th St. building. We met with the listing agent prior to the internet launch and saw all units, which were listed at…
A reader writes in to say he feels misled by how prices were determined for 245 16th Street, aka the Athena:
I was one of the first to be shown the new 245 16th St. building. We met with the listing agent prior to the internet launch and saw all units, which were listed at 695K. After two weeks of being advised of considerable interest, we submitted our bid. After two days of deliberation, we received news that the units were now being offered at 795K and not 695K. This may be legal, but wrong. Buyers beware that this building has gone up in price only after testing the market.
On the one hand, this sounds like some welcome positive news about the market (though it’s hard to imagine a whole lot of buyer enthusiasm for this place). On the other, it’s tough luck for the buyer above. What do you think? Uncool on the part of the seller or just a case of “You snooze, you lose” for the buyer?
BK Developers: What Are They Thinking? [Brownstoner]
245 16th St. Listing [Douglas Elliman] GMAP
Mr. Brownstoner, do you actually know the tipster? Are you sure that he or she is not a shill?
You may think it is ugly, but I have seen a lot worse looking run down crap in the Park Slope/ South Slope coop universe.
Plus, you live inside, not outside. So if you think it is ugly, you only have to see it for 30 seconds a day.
F this place. Seriously!
But why would you buy in a building that is so ugly?
Mongomery doesnt compare – 230 sq feet smaller, maintenance & common charges are $500+ a month more, only 1 bathroom vs. 2,no laundry in unit, no terrace, no outdoor space.
Sorry, for a young family such as mine, the place on 16th street is a no-brainer over Montgomery Place.
Charm and a fireplace dont make up for all of the above.
Also the tax abatement of $300-400 per month is worth around $40K in savings over 10 years.
How does this compare with the 24 Montgomery coop of the day? I mean, 16th St may have more square footage, but I would MUCH prefer the old charm and location of Montgomery. I think the developers are silly to raise the price on these units when Corcoran is showing that they are the sage ones pricing correctly for much better quality properties (i.e. 24 Montgomery).
You guys are kidding yourselves – It may not look asthetically pleasing to you, but for 1100+ sq feet with terraces and a private garden in this neighborhood, it is really not that bad. 795 may be a little too pricey but I bet this will go for over 700.
I would have definately considered this place if it was avaialable when I was looking. Show me a comparable apartment in this area for much less…
dodged a bullet, my brother.