Brokerage Switcheroo at PLG Condo Project
The 15-unit condo at 2233 Caton Avenue, Lefferts South, has been taken out of the Developers Group’s marketing hands and passed along to a team at Prudential Douglas Elliman. Three of the building’s units went into contract c/o TDG, according to Hakim Edwards, one of the Elliman agents who’s now marketing the building’s remaining nine…
The 15-unit condo at 2233 Caton Avenue, Lefferts South, has been taken out of the Developers Group’s marketing hands and passed along to a team at Prudential Douglas Elliman. Three of the building’s units went into contract c/o TDG, according to Hakim Edwards, one of the Elliman agents who’s now marketing the building’s remaining nine units (the sponsor sold the other three). Prices haven’t dropped at the condo since March, and are running between $399,000 and $499,000 for two-bedrooms ranging from 831 to 979 square feet. To drum up interest, Elliman is planning on staging units and is co-broking between 5 and 6.5 percent, as opposed to TDG’s 4 percent. Any drama, scandal or intrigue behind the brokerage switch? Not really. “We have more of a network of brokers than the Developers Group does,” says Edwards. “And the Developers Group had the misfortune of not working with a finished project.”
2233 Caton Avenue Listing [Prudential Douglas Elliman]
New Development: The Oddly-Named Lefferts South [Brownstoner]
I just had a tour of the building. it is very nicely done, apart from the parking garage ramp, which i am sure will scratch few doors and side-view mirrors. Also they only have 5 spots for a 15 apartment building. I didnt know that its a truck route up til now. So 6:01, i would say cut down 50K because of the noise issue. If you are looking to flip, i think that would be atleast 3 years as per the current market situation. These apartments according to my research are still 15% priced high. Also there is no parking at any day so you better get that parking spot :).
I am about to put an offer on leffertssouth. 2bed,2bath,2 balconies,1000 square feet net living,washer and dryer with parking, southern light…..all for 455k? great deal. Has anyone ever tried to park in this neighborhood?
That’s interesting 6:06 — what other buildings in “more prominent” locations haven’t been covered? From your comment about elitism (and since when is an insurance company (and not even an elite insurance company) franchise brokerage elite, anyway?), I’d have to assume it must be something marketed by a real bottom-of-the-barrel company.
I live around the corner from here. It mystifies me that anyone would pay that much to inhale truck exhaust and lose sleep due to the constant noise. I love the neighborhood, actually, “hardscrabble” as it may be in some locales. Not all the old buildings have gone to seed, it’s a few minutes from the park, and the neighbors hold the door for you when you come in at night. It may be awhile before we have partition-free liquor stores, but honestly? Maybe that’s not such a bad thing. Maybe we’ll remain a neighborhood where people with regular working-class jobs can afford to live well. I’d much rather see an active CDC invest in a first-time homebuyer program for all the beautiful housing stock that exists here already than see more of these half-assed buildings go up.
I think it’s interesting that this get’s on brownstoner but other buildings that have hit the market in more prominent locations fall to the side? I feel there is a bias towards certain brokerage firms, someone please start another blog already, this guy is an elitist!
Oh yeah, the Sears is near there. That Sears is a trip. The appliance department has most of what one would want to see, it’s got a lot of stock. But the building is falling apart, the lighting is bad, all the fixtures are outdated and it feels like the land that time forgot.
I was happy to see this not-bad thing rise here, (even though it meant demolishing a few sad big old wooden houses); it seemed a hopeful sign for the immediately surrounding neighborhood, which is new-growth-hardscrabble atop old-growth gracious apartment buildings long gone to seed. But I agree that the location is a stinker–unless you crave being a block from the bright-blue corruguated-metal hangar housing the street vendors on Flatbush and Caton, or a long walk from the world’s most sorry-assed Sears, or a quick stroll to the easygoing vibe of nighttime on Nostrand Avenue (kablam). My impression from weekly drives past this locale (and walks, to visit a patient in the Congregational Nursing Home) is that it will be quite a while before anyone in the surrounding area is selling wine and spirits without a Lexan partition–and that makes me wonder about a half-million price tag for a mere apartment in a not-bad building on a truck route. (scratching head)
I know, 4:48. I thought the same thing. It was like, “this is news on Brownstoner why?” The building is fine, it’s not brilliant but it’s not an eyesore. Nothing to talk about. Everyone move along.
Is it me or does this sound like an endorsement of Prudential Elliman. Think they should handle their own marketing. Nothing wrong with informing the Borwnstoner community but this is to far.