Checking in on Another First Place Conversion
The sales success of 90 First Place made us curious about how nearby conversion 126 First Place is faring. The five-unit condo went on sale this summer, and there haven’t been any sales recorded for the property yet. Listings—three of which have been taken off the market, with another in contract, and the last one…
The sales success of 90 First Place made us curious about how nearby conversion 126 First Place is faring. The five-unit condo went on sale this summer, and there haven’t been any sales recorded for the property yet. Listings—three of which have been taken off the market, with another in contract, and the last one still active—start at $925,000 and run up to $1,395,000 for 2-bedroom units. These prices are higher than 90 First’s, but not by an order of magnitude, so maybe the finishes are holding it back. Anyone seen these units in the flesh?
126 First Place Listings [StreetEasy] GMAP
CGar: Bravo! You are exactly right!
With this conversion, I believe they lowered all of the ceiling heights on all floors to squeeze an extra floor in. When I read that, together with the prices substantially higher than 90 First Place, I declined even to go look.
“Elliman = not worth commenting”
ROFL! So true.
Brown Harris Stevens = overpriced at about 30%.
No one cares, but I just want to add that the cheap, off-the-shelf window sash seem to have been installed almost flush with the facade masonry. A real Neanderthal job.
whatever you the right price is for these condos….add them all up for the bldg. And check hotd last week that everyone thought should sell for widget price of $1.85 or so. That was big floorplan like this one and is prime candidate for condo conversion like this. And why I said the 2.25 or so price seemed reasonable.. add a million to convert and still have a profit of up to 500k for your work.
Units in the building are now on the market as rentals. Top floor duplex w/roof is rented already. The 3rd and 4th floors were still available at 3800/month for 1200 sq feet – 2 bedroom w/alcove office behind the right side window. Decent layouts, nice sized bedrooms, open kitchen, decent finishes (nothing special). I think the garden is taken and the parlor is available – a bit cheaper/smaller as no alcove. Elevator in the building is a nice plus for stroller families. Expensive, but clean new rental option in prime hood has appeal. One downside is the prospect of years of development in the backyard on the 2nd/Court condo.
Agree wholeheartedly with hannible — Corcoran = always OVERPRICED at about 30%, but best website.
In fact, you can do this for all of the Brooklyn brokers:
Warren Lewis = faux boutique + overpriced at about 20%
Brooklyn Properties = crap + overpriced at about 20%
Elliman = not worth commenting
Century 21 = TOTAL CRAP
TB Shaw = everyone’s leftovers
Betacourt = don’t even bother
Anyone care to add or amend the list?
A nice cornice and better windows would have added a lot of curb appeal to this property. The parlor floor windows in particular look under-sized and cheapey-cheap. Properly sized windows perhaps featuring a two-over-two configuration and finished a deep brown, green, or black would have given the exterior of the house a lot more elegance.
If you see who the real estate sign belongs too you would understand. Cocorean stands for “overpriced”. Keep preping up those homeprices in a down ward market.