Checking in on The Vermeil
In July, the 22-unit Vermeil building, at 133 Sterling Place in Park Slope, changed broker’s hands after a year-plus of sluggish sales. Since Corcoran took over, three of the seven remaining units have gone into contract, leaving four active, and, predictably, three of those have gotten price chops. Unit 4G, at three-bed, two-bath originally listed…
In July, the 22-unit Vermeil building, at 133 Sterling Place in Park Slope, changed broker’s hands after a year-plus of sluggish sales. Since Corcoran took over, three of the seven remaining units have gone into contract, leaving four active, and, predictably, three of those have gotten price chops. Unit 4G, at three-bed, two-bath originally listed at $1.9 million in January of ’07, and was no longer listed as of July of that year. In July of this year, it was re-listed at $1.5 million, and got a $5,000 price cut in September. Unit 2B, also a three-bed, two-bath, got a $40,000 cut three weeks ago, to $1.3 million, and the one-bedroom unit 1A got a $46,000 chop to $849,000, four weeks ago. Data from Streeteasy.
Changing of the Guard at The Vermeil [Brownstoner] GMAP
First Closing at The Vermeil [Brownstoner]
Condo of the Day: Price Cut at The Vermeil [Brownstoner]
Update on the Vermeil [Brownstoner]
850k for a 1-bed?
These guys need to clean up the sidewalk out front of their building. Also, I’m not sure I’d want to live in the condos that face 7th ave. I live on 7th right now, and the street noise is pretty crazy even super-late at night. For a rental, it’s ok, but I wouldn’t buy there.
The Vermeil is the perfect example of the kind of places that will take a huge hit in the next couple of years. Browntones and the like will be affected to a lesser extent. New construction condos with this kind of pricing are a huge risk for buyers in this kind of market. I have looked at the Vermeil a couple of times and like what they have, but asking prices would have to come down AT LEAST 20% for me to bite. I feel sorry for anyone who has bought at the Vermeil anywhere near asking prices.
Park Sloper,
The garage entrance is on Sterling, yes.
I’m glad they’ve managed to sell a few. They really could stand to put a few more finishing touches on the outside though. The area on the 7th Avenue side looks really bad…they need to replace the sidewalk, fix the broken light fixture, fix the street level windows…a couple of which are shattered, and add a big potted tree or something. The curb appeal (when you’re paying that kind of money) should be up to par.
Pay a little attention to detail, Corcoran. It looks really shabby around there.
Isn’t this place supposed to have an underground parking garage? I walk by this place often on Seventh Avenue but haven’t noticed an entrance — is it on Sterling? or did they dispense with the parking?
This place has been overpriced and stubborn the whole time.
finally GS gets hit, they have been slipping through the cracks for awhile…
I walk past this place a lot. Nice location, annoying web site, and, well, I won’t pay that much but I don’t get excited by nifty bathroom fixtures.
All I have to say is:
Goldman Sachs Group Inc. is preparing to cut about 10% of its 32,500 employees, according to people familiar with the matter, a sign of deepening job losses on Wall Street.