Broker Switcheroo, Huge Price Cuts at The Elan
After almost a year and a half of sales mode, the developers of the Elan at 255 1st Street in Park Slope are getting a broker make-over and instituting one of the more sweeping and aggressive batch of price cuts that we’ve seen to date. On the broker front, A.D. Shaye is out, Apartments &…
After almost a year and a half of sales mode, the developers of the Elan at 255 1st Street in Park Slope are getting a broker make-over and instituting one of the more sweeping and aggressive batch of price cuts that we’ve seen to date. On the broker front, A.D. Shaye is out, Apartments & Lofts is in. The new website is here. As for pricing, all remaining 17 units got whacked an average of 26 percent. Apartment 12B, which has 1,169 square feet of interior space and 167 square feet of outdoor space, was reduced from $1,025,000 to $725,000. Holy cow! This is obviously what most developers need to be doing now. This’ll be interesting to watch.
Condos of the Day: 255 1st Street [Brownstoner] GMAP
I would much, much rather live in the Elan next to McDonalds on First Street than the so called 500 Fifth Avenue project on a grngy part of 12th Street. “Aspire Higher” and pay more for less. For starters, the Elan as a completed project, better location and more realistic price should be an obvious no brainer. Additionally, the developer and/or broker have enough common sense to make adjustments to move inventory. I do not know what the others are thinking or doing to counter this move.
antidope, those black townhouse condos on that same street had a FAKE person living in one of them for a week or so a while back. he would sit outside a lot. i walked into one of those places, no one was there. i could have totally had squatted.
*rob*
The Absolute had a bunch of price cuts today as well. They cant even rent the 2 units out that went rental. I dont think the Elan is worth the money still
re: all the new prices, we have some insider info that clearly hasn’t all been disseminated yet…
this is the first time youve posted a picture of it without the obligatory shot of Mickey D’s. good job! hahahah.
i walk by the building everyday. the people ive seen looking at apts there or already live there seem like major toolbags.
that said, i said this last time, but the corner really DOES smell like mcdonalds hardcore. of course you will easily get used to the smell and not it anymore but for a million bux do you really wanna be smelling ghetto burger patties?
*rob*
Where is the “remaining 17 units” data coming from?
Next to the Mickey D’s will be an issue for some and not others. My biggest gripe with the apt’s is the lack of common space. The size of the living/dining area makes you feel very cramped. Anyplace that has 3 bedrooms should have larger common spaces than a 1 bedroom.
I looked at a couple of the rental units in the Elan ($2800/mo 2 bedroom), and while everything was pretty spiffy and shiny and the kitchen and bathrooms clearly had some money put into them, they somehow managed to make 1000 sq. feet seem like there was no room for any furniture.
If you see the pictures on the site, the furniture is all fairly minimal (flat screen tv, small dining room table, no shelving or bookcases anywhere), and that’s probably what suits this space best.
We have many bookcases and probably more furniture than average, and it felt like the apt. would be very cramped with our stuff in it. We walked out saying “well if we got rid of the this and this and this and this maybe we could make it work”.
These are definitely places for people with few possessions, and the two bedroom did not seem like a good space for a couple with 1 kid. Definitely more for a couple who want an office.
And, frankly, no matter what you think of the interior, it is hard to walk out the building, turn toward the McDonalds, and walk down to 4th Avenue to the Union Subway stop and say “yeah, I want to spend $1,000,000 to do this every morning”.
Maybe $725,000 will get it done.
new condo, you just moved in. catch a whiff of McDonald’s morning, noon and night. No thanks