Condo of the Day: 401 Hicks Street
The converted church and rectory known as The Arches at 401 Hicks Street went on the market in early 2005, selling at between $500 and $600 a foot. Apartment B-1D, for example, which is 1,724 square feet and has a private 168-square-foot terrace, sold for $990,000 in February 2005. The apartment just came on the…
The converted church and rectory known as The Arches at 401 Hicks Street went on the market in early 2005, selling at between $500 and $600 a foot. Apartment B-1D, for example, which is 1,724 square feet and has a private 168-square-foot terrace, sold for $990,000 in February 2005. The apartment just came on the market again, though at the higher asking price of $1,350,000. Think a 35 percent increase over the last two and a half years is reasonable? We suspect so.
401 Hicks Street [Douglas Elliman] GMAP P*Shark
i think that this is an OK price. people are being overly negative. cobble hill has so little inventory. Unless my math is off, that’s only $783/sq ft for a family sized apartment with outdoor space in a neighborhood with a first rate public school. Think that if the market wasn’t off that it could go higher.
I looked in that bldg last year and liked it, but they didn’t have a big enough apt for our needs. the location is cool. you can hit up smith street and the new groovy restaurants over on union and columbia to the west.
i’d like to see a bigger bang for the buck, really 2:17pm. we ended up in Williamsburg because that’s the only good neighborhood (we are in the prime part with everything, and it’s safe), where we could get 2000 sq ft for $500/sq ft. now, it’s plain hard to find a big place period in this price range (under $800/sq foot) in any of the established brooklyn hoods. look at the comps. also, looks like this place might have central heat and air? for me, that is a must have.
anyway, i want this place now. jealous.
Umm, why do you suspect that’s reasonable? Unless you think it was a bargain in 2005, or there’s been some kind of great renovation?
Guess what: prices haven’t moved since 2005, which is when the last sale was for this place. The average sale price around Brooklyn may have gone up since then, but that reflects how many places have sold of the cheap variety vs. the expensive variety. It does not follow that the intrinsic ppsf of any particlar place has gone up. It’s an illusion, and these flippers are trying to cash in on it. No way this goes for asking.
seems a lot for a 2br condo, albeit a large one. The upside is the public school, PS 29, which seems to put a SERIOUS premium on cobble hill real estate.
I think you can get a bigger bang for the buck.
True, once you’re inside, there’s no sense that you’re in a church, which is a real shame. It is seriously seriously bland inside. White walls, straight lines, bland carpets, ecchh. A midwestern airport hotel is warmer. You feel like you’re in an institution – a university or government office building.
The outdoor space is not inspiring.
Other than that, you’re close to PS29, but it’s a real schlep to the subway.
Damn Mr. Brownstoner, don’t you think it’s about time you banned The What?
Seriously, his cut and paste posts (that have NOTHING to do with the topic) are really annoying.
While you don’t hear the BQE noise when the windows are shut, it is loud the second you open them, and walking there and back too. Very noisy corner. 1:17 is right with the soulessness remark–strangely bland inside.
The lack of light adds to its soulessness–ironic, given that it’s in a church. The “terrace” looks like a cattle pen.
Looks nice, but a bit short on windows for my taste.
looks really dark to me, otherwise nice