Condo of the Day: 70 Washington Street, #7L
This seventh-floor two-bedroom condo at 70 Washington Street in Dumbo just underwent a price reduction from $1,465,000 to $1,398,000, bringing it in line with the asking price on the same apartment on the fifth floor. The $900-per-square-foot asking price is about par for the course in this building right now, though we’re not sure anyone’s…
This seventh-floor two-bedroom condo at 70 Washington Street in Dumbo just underwent a price reduction from $1,465,000 to $1,398,000, bringing it in line with the asking price on the same apartment on the fifth floor. The $900-per-square-foot asking price is about par for the course in this building right now, though we’re not sure anyone’s actually getting that. By comparison, you can rent a that fifth-floor place for $4,900 a month.
70 Washington Street, #7L [Halstead] GMAP P*Shark
@brokedeveloper: no, that rooftop photo is of the common roof area – not a private cabana.
All in all, a good building if you like dumbo, but this is indeed a one bedroom – overpriced!
FYI: I’ve got friends in this building & recently looked at a ground-floor duplex [basement – but HUGE] plus terrace in the same line:
http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1867676
It’s not my cup of tea & way above my price ceiling but really an amazing pad – especially for the art collectors who live there.
BHO, your math continues to amaze me. With 30 year Treasuries yielding 4.15% how do you come up with a gross yield of 10% as a valuation???
If you’re going to do math, do it right and figure out the net and add something over the Risk free rate.
You’re calculations are childish, at best.
That $4900 rental has been on the market for a while now too, albeit apparently for a short time at $5,100.
“By comparison, you can rent a that fifth-floor place for $4,900 a month.”
10 x 12 x 4,900 = $588,000
***Bid half off peak comps***
Are the floors laminate or hardwood? They look a bit shiny in one pic and its hard for me to tell. Anyone know?
If that apartment in the Sweeney Building went for $685 sq/ft, this place ain’t getting $900. Looks like it comes with a cabana, which juices it up a bit. $750 sq/ft max., though probably lower. I call $1.05m.
no way hose-ay.
one bedroom plus a den.
should be 1.1 at the most.
The picture of the living room makes it look like a shrine to the television. Everything is arranged relative to the TV, which is the heart and focal point of the place.
It’s a one-bedroom! Sheesh.