Caton Avenue Condo Coming to Market
Construction on Caton Court, a medium-sized condo near the Parade Grounds, is looking more or less complete nowadays. The banner hanging from the building announces that it’s going to have one- and two-bedroom units (far as we know, they haven’t hit the market yet), and we’re wondering what kind of prices the developers could be…
Construction on Caton Court, a medium-sized condo near the Parade Grounds, is looking more or less complete nowadays. The banner hanging from the building announces that it’s going to have one- and two-bedroom units (far as we know, they haven’t hit the market yet), and we’re wondering what kind of prices the developers could be hoping for. Condos at Lefferts South, about five blocks east, are selling for around $500 a foot, and it seems to us like Caton Court’s location between 17th and 18th streets is more attractive than Lefferts South’s. But per a reader who’s been watching Caton Court go up—and is rooting for it to sell well—the new building’s coordinates are potentially problematic:
The avenue itself is an incessantly clogged noisy truck route, and the Church Ave. IND station, in need of an upgrade throughout, is at its very worst at the Caton Avenue end, a virtual ruin. The commercial strip a block away on Church Avenue is pure crap, and when they roll down the grates in the evening it’s creepy…I wonder whether new residents will want to pay whatever they’re asking to be the gentrifying pioneers on what is currently a very gritty working-class corridor.
Predictions?
GMAP
There are no units in the back of the unit — there are only three units per floor — each one has windows in the front.
11:29, we bought there too for the same reasons. Looking forward to meeting you!
the units in the back of the building must be in total darkness 24/7.
I am one of those buying into Lefferts South.
Why is $500 a sq ft reasonable to us.
• It’s a Condo not a Co-op.
•The maintanence and taxes are low.
• Although it is set on a convergence of 3 busy streets- it is silent inside the units, and the building’s location faces south with Caton and Linden separating the building from the opposing buildings. It is beyond bright and airy in the units.
• When we compared the costs of buying new for more and buying prewar for less, the price to renovate the prewar combined to the total cost per sq foot of a 2/2 was not much different and that’s not including items like energy efficeint windows or a building bulit with a higher R insulation rating than something 50 years old. We all know that overtime to save money you have to put more upfront. Also renovations require cash or equity.
• It is a tiny building- 15 units. That means approx. only 30 people are contributing to the direction and decision making process. More oppurtunity for all voices to be heard in common matters. There is also a dentist moving into the professional commercial space on the ground level. Excellent income for the building which will help keep the maintaince low as time goes on.
• and last but not least: a freaking washer and gas dryer in the apartment and not one of those closet size jammies but full sized
surburban kenmore that will wash 8 pairs of jeans and 15 towels in one load. (Sorry it’s the little things that make me happy)
So I just wanted to share our thoughts behind the decision to buy there and shed some light on the mystery.
PS- Nice Brenda!
I have lived in BOTH of these areas recently (2 blocks from Caton Court, and in non-Manor PLG). They are not the same. The area around Caton has a lot of run-down buildings, broken glass on all the side streets, etc. I was always a little freaked out parking my car there at night and walking home alone. I don’t generally feel that way in PLG. I don’t think these 2 areas are the same in terms of safety/crime.
3:07
Caton/Church/Flatbush is only two blocks south of LG, not that far really. And it’s not worse than LG, just busier.
And hey, the trucks have to go somewhere. You won’t let them on the Belt Parkway and someone has to stock the shelves at Fairway, Costco and IKEA. And the “negative” of density. Yeah, thats so negative that density will probably turn into sprawl as soon as you get rid of the trucks.
PS: The condos on Cortelyou are going for the same rate at $500/sq.ft.
Poetry, Breanda.
having spent a lot of time over here growing up i have many nice memories of this specific area (from the 80s and early 90s). i’m happy to see a developer making an investment here. we should be welcoming this with open arms, not insults. don’t worry about the pricing, if it’s too high the prices will be lowered, if there is not sufficient demand from buyers, this will go rental – so what. either way, let’s hope that the project succeeds b/c if it fails that’s bad for everyone.