Vermeil Inching Towards The Finish Line
Slowly but surely the Vermeil condo on 7th Avenue and Sterling Place is getting closer to selling out. There have been 17 closings in the 22-unit building, and StreetEasy is only showing two units on the market: A 1,602-sf 3-bedroom ($1.1 mil) and a 1,564-sf 2-bed ($1.075 mil). The building, which was pricey from the…
Slowly but surely the Vermeil condo on 7th Avenue and Sterling Place is getting closer to selling out. There have been 17 closings in the 22-unit building, and StreetEasy is only showing two units on the market: A 1,602-sf 3-bedroom ($1.1 mil) and a 1,564-sf 2-bed ($1.075 mil). The building, which was pricey from the get-go, hit the market in early ’07 and started closing in February of last year. There have been fairly substantial discounts on some of the more recent sales, like a unit initially listed for $1,700,000 that sold for $1.15 million with two parking spots thrown in.
Checking In On The Vermeil [Brownstoner]
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]
fsrq, I can’t help it if you don’t care what the outside of your building looks like. If you can’t appreciate a cornice there’s no educating you.
Furthermore, there is no response to someone who thinks the price of all the units in a building are going to fall off a cliff right after they all got sold. They are not on the market anymore.
My ideology is based on the fact that brownstone prices have held up better than condo prices, especially crappy new developments that aren’t selling, unlike THIS particular building.
DIBS – instead of saying “whatever” and “no comment necessary” when your ideology is exposed as illogical, why not say – “you are right” or “maybe I do value aesthetics too much and I should consider if others in the marketplace do as well” – it is a much more mature response.
“guess 4th isn’t as good a location as 7th and Flatbush, but I’d think the 321 would make up for the location difference, no?”
Come on – 4th Ave is as good a location as 7th and Sterling even considering 321? – I dont think so, nor do I believe any comparable sized apartments at NOVO sold for 1/2 the cost of here (on a sq ft basis) – but if you have evidence of that I’d be genuinely interested to see it.
The only difference between this and one of the Fedders specials is the lack of Fedders sticking out the front.
Posted by: TD at February 9, 2010 1:02 PM
No comment necessary. Just plain stupid.
Whatever, fsrq. It’s obvious that YOU know best.
But thanks for being here today to provide ME with amusement
“And I remind you there has been ZERO showing anywhere that the exterior of a new condo building has any meaningful effect on its ultimate sale price (“ugly” new condos, sell for essentially the same $ per sq ft price as older buildings converted to condos)”
Really? Cause the 4th Avenue 3 bedrooms (in PS. 321, which this is not) sold for quite a bit less than these 3 bedrooms.
I guess 4th isn’t as good a location as 7th and Flatbush, but I’d think the 321 would make up for the location difference, no?
Some of the Novo 2 bedrooms sold for 500K. These 2 bedrooms sold for twice that.
If somebody can’t tell the difference between this and a historic structure, they have no clue what they are looking at (the hideous ground level, the cornice).
The only difference between this and one of the Fedders specials is the lack of Fedders sticking out the front.
ou812 – let me be clear – I love this building, and actually considered moving there (prices were too high at the time) but I am just trying to point out the Palin-esque quality to the ‘everything new sucks’ ideology here.
I am glad DIBS likes this place, but you cant make any legitimate claim that condos “like this” are any better quality or will retain their value better than any other development strictly based on the shape of the same sheetrock walls you bemoan everywhere else….and just for the record, I beleive that this development along with brownstones and every other housing unit type in PS will continue to trend lower for sometime – essentially in virtual lockstep with some variations due to differences in comparative size (i.e. a 5k sq ft limestone has no condo/coop equivalent)
A circular brownstone firing squad. Proves that nothing will please most of you.