Checking In On The Vermeil
When we wrote about some price cuts at The Vermeil, the 22-unit development at 133 Sterling Place at the corner of 7th Avenue in Park Slope, there were only four units left, according to StreetEasy. Now, strangely, there are six available. There haven’t been any price cuts since then, though it looks like some of…
When we wrote about some price cuts at The Vermeil, the 22-unit development at 133 Sterling Place at the corner of 7th Avenue in Park Slope, there were only four units left, according to StreetEasy. Now, strangely, there are six available. There haven’t been any price cuts since then, though it looks like some of the apartments were temporarily pulled off the market in February and brought back again last week. The remaining units range from a 1,532-square-foot two-bedroom for $1,100,000 to a 1,711-square-foot three-bedroom for $1,299,000.
More Price Cuts at The Vermeil [Brownstoner] GMAP
Checking in on The Vermeil [Brownstoner]
Changing of the Guard at The Vermeil [Brownstoner]
First Closing at The Vermeil [Brownstoner]
Condo of the Day: Price Cut at The Vermeil [Brownstoner]
Update on the Vermeil [Brownstoner]
Wasn’t this the site of the early 1960s plane crash?
Lechacal- the fringe of Park slope?? That is funny. Good Luck on your search for Real Estate in NYC.
What a nice looking building. I don’t understand the oomments that it is cheap or cheap looking. It looks like a solid job to me, especially compared to the usual dreck that most non-landmark neighborhoods are subjected to.
The units are not selling because, guess what? units are not selling anywhere. It is a bad sign of the times that even here, in such a nice new building, in such a nice location, the inventory is not selling.
tybur6 – we get it. 🙂
The development fits in almost as well with the neighborhood as the hooker house does. I just think the prices are obscene for the area it’s in.
I have followed these units pretty closely for the past couple of years. I will repeat what I have said in various other threads:
1. The developer asked for the moon (and the sky) when these first when on the market. I really think they would have sold a while ago at prices above current ask if they hadn’t had such high list prices to begin with.
2. They have been chasing the market down for a while, but always staying above it. Classic mistake in a bear market. They should just chop the hell out of these and get it over with if they want to avoid going rental.
3. I like the units and seriously considered buying one (might still consider it in fact). They feel well built as compared to many other new developments. The developer’s mistakes all relate to price. I think they actually did a good job with the construction.
4. I also walk by almost daily. At night I see no evidence that anyone lives there (as opposed to the old whorehouse on Lincoln, which hit the market much later and appears occupied at night).
5. This is really on the fringe of Park Slope. In my mind the slope doesn’t really stary on 7th Ave until after St. Johns.
Come to think of it, Mr. B, I am very curious for an update on the whorehouse on Lincoln, if you are so inclined at any point.
This place is terrible… out of context architectural nightmare!! And it’s ridiculous that they didn’t preserve any of the original detail!
According to some of the other posts here, while my accolades to the architecture may still be appropriate, apparently the actual construction falls far short.
That’s what first time buyers really need to research in a new development. Is the roof going to leak in 3 months, are the bricks falling off, etc? Any new development is buyer beware.
Heres what I dont get – its got to cost the developer a fortune to sit with these units empty and unsold…
The fact that so many are empty and unsold has got to make even interested buyers hesitate – not to mention any bank lending on them
So just cut the frikkin price on a couple of units really low and start the sales going.
I would bet there are more than 6 available. There are at least 7 uninhabited units on the 7th Ave. side of the building.
Since these apartments became available I’ve seen several other nearbly buildings sell out. I think most these apartments have pretty thoughful layouts – good closets, good transitions from room to room. The biggest problem is that, at least initially, and maybe even still, the apartments were priced way too high.
Other problems, from my perspective:
– the bathrooms I saw at an open house were done in a far too specific color palette
-the exteriors still have not been fully punch list completed – corner and set back detailing, lighting fixture surrounds, and the biggest one, dormers on brownstone building
– the sidewalks haven’t been replaced. This one just seems the most half-assed of all to me. It suggests to me that there may be other things that one can’t see that may only be partially done.