Condo of the Day: Prices Cut at the Fusion
Corcoran’s marketing materials for the Fusion in the South Slope note that the 421-a tax abatement combined with the low common charges make these units very affordable! But it seems like maybe they’re not affordable enough to actually, you know, sell: StreetEasy is showing that the 20th Street building was just hit with a third…
Corcoran’s marketing materials for the Fusion in the South Slope note that the 421-a tax abatement combined with the low common charges make these units very affordable! But it seems like maybe they’re not affordable enough to actually, you know, sell: StreetEasy is showing that the 20th Street building was just hit with a third round of price cuts. Units are now listed between $458,100 and $1,012,500; when they hit the market in May, they were running between $555,000 and $1,159,000. The building itself doesn’t look so bad on what’s basically an ugly-duckling block, so we’re assuming ho-hum interior finishes may have a lot to do with the lack of interest here. Anyone have an insider’s view?
New Development: Fusion on 20th Street [Brownstoner] GMAP
Fusion at 286 20th Street [StreetEasy]
286 20th Street Listing [Corcoran]
FYI…Corcoran just lowered prices AGAIN!…lowest price condo is now $439K…
Originally, one of the units (3A) started at $599K in April of 2007…was then reduced in September to $549K…then in November reduced to $494K…and is now listed at $449K…
Only about $100K more to go before these units are listed at fair market value (should be in the mid-$300Ks)
I have seen plenty of new construction throughout Brooklyn and for me, I did not like what I saw. I was shopping for 2BD/2BA condo and my major complaint was the low ceiling heights and thin party walls separating adjacent owner units. I passed on condos being offered in townhouses because that is what I currently live in and the floors and ceilings and walls carry noise as if they are paper. I moved into a pre-war building with the interior redone. Nice thick concrete floors and ceilings and high ceilings. The party walls are still there but I’m thinking about “Quiet Rocking” it.
2:53 I agree with your view, as far as when it comes to Brooklyns 2BD/2BA stock.
that condo building on 23rd street by the cemetary has 1 bedrooms for $400k.
there’s a 2 bedroom condo with a private rook deck on 21st street for $415.
thus, a 1 bedroom in this area at 458k seems ridiculous to me.
I have looked at a good number of these new South Slope/Greenwood Heights developments. One thing that I alway find a little disturbing is that all seem to be using “the view” as a selling point,but when you actually stand out on one of the balconies or look out the window you see nothing but old silver coated tar roofs. Seven flights up is not high enough to get past that incredibly depressing landscape. Twenty maybe. Looking east you see the back ass side of all the new 12 story construction on Fourth Ave up until 23rd Street. After Prospect Avenue every street is a jumbled mishmash of aesthetically challenged buildings. That includes the small scale stuff that’s being built right now. By the time 20th Street comes around, if ever, their 421-A will have expired and the original buyers will have bailed out.
The reason they aren’t selling is that these are the worst layouts I have ever seen. Whoever designed this place should loose their architects license.
Ah, yes. The Times. Then it must be true. Guess you have your case made, one article in the NY Times.
there was indeed.
very recently, in fact.
and rewording your comment a half hour later, 5:40 really didn’t make it any more effective the second time around, btw.
5:40 -there was an article in the Times about it.
5:13. I’ve seen this blanket claim before, that new buildings are categorically poorly constructed. Apart from the question of how you could know this, do you have any evidence at all? Other than ‘I know someone whose apartment…’