Condo of the Day: One Main Street, #2K
There’s a new loft on the market at One Main Street, the building that started it all in Dumbo. The second-floor apartment has great East River views and an attractive bathroom and kitchen to boot. The 1,414-square-foot space is asking $1,295,000, a pretty penny compared to the $810,000 it sold for in 2003 but about…
There’s a new loft on the market at One Main Street, the building that started it all in Dumbo. The second-floor apartment has great East River views and an attractive bathroom and kitchen to boot. The 1,414-square-foot space is asking $1,295,000, a pretty penny compared to the $810,000 it sold for in 2003 but about right based on past sales in the building. (In early 2007, Apartments 3K and 7K sold for $1,190,000 and $1,310,000, respectively.) There’s no reason to think this won’t get pretty close to asking price.
1 Main Street, Apt., 2K [Corcoran] GMAP P*Shark
No reason to think it won’t go below asking? Umm, how about this reason:
http://bstoner.wpengine.com/brownstoner/archives/2008/06/red_nabes_lose.php
duh…
I live in Dumbo, and work in the Flatbush Extension area. I am impressed and excited about the developements in the area:Toren, Oro, etc. I think that the downtown area will be even better in the next few years. BUT, DUMBO proper is only a few blocks and thus more exclusive (If that’s what you’re looking for).
All the developements you mentioned are for the most part a few blocks apart, and there is little difference between them.
I’m in real estate, so I track ALL the developements and attended ALL the open houses in the area. They all have something to offer; BUT,they’re not in DUMBO.
Went to Toren condo on Flatbush and Myrtle yesterday and was super impressed. This building is truly iconic as opposed to One Main which is past its prime. Downtown Brooklyn along Flatbush is fast becoming the new Battery Park with better location. The Toren, in my humble opinion, will be the centerpiece based on the architecture by SOM. If only I had a few bucks to participate.
http://www.torencondo.com/
With the Avalon Bay luxury rental being next door …
http://www.brooklyneagle.com/categories/category.php?category_id=5&id=16245
And Citypoint across the street with a beautiful park plus Sheraton and Mood Indigo Hotel etc…
http://www.citypointnyc.com/index.html
db.partnership.org
Plus Oro and Oro Two on next block …
This project is a can’t miss. When I went to Halstead, prices were below $750 per square foot.
Also in the back of the Toren is a project that is in process of development….
http://bstoner.wpengine.com/brownstoner/archives/2007/04/180_myrtle_aven.php
Went there yesterday, as well, and they are working on foundation.
Add to this the commitment by the city to landscape both Flatbush and Myrtle ….
http://www.nyc.gov/html/dcp/html/dwn_bklyn_ped/dwn_bklyn_ped_foc5.shtml
Add to this NYU merging with Tech and looking to utilize air rights and further develop in Brooklyn…
http://atlanticyardsreport.blogspot.com/2008/03/merger-or-consolidation-nyus-absorption.html
Not even mentioning Williamsburg Bank condo, Forte, and Beltel and Atlantic Yards. Wow. This is very very exciting. I love Brooklyn.
Again, looking at all the present developments, The Toren looks like it will come out the big winner. Why anyone would want to pick dumbo over this new and exciting area of Flatbush is beyond my comprehension. And to pay a premuim to boot. In five years let’s see where we are at. I went to Google Maps and looked at what the Flatbush and Myrtle area looked like (160 Myrtle) and was shocked how fast they have come.
If only I had some money to invest now.
june 5 @ 10:50 – are you really so slow that you don’t understand the relevance? i’ll give you a hint – comps need not be in the same building.
This is the problem with blogs. Brooklyn Love at 5:53 sounds so authoritative, and yet the link referred to brings one to… #29F at 100 Jay, not the unit in question. Thanks for nothing.
boring.
dumbo is so 2005-2007.
a suburb with continual traffic noise,
I pass.
You folks who write that this will get close to ask are being silly. When the market was still hot a year and a half ago, this unit 5 floors up went for $15k more. This is 2nd floor, dark, right across the street from the new Galapagos, has street noise, and has a view only if you strain your neck at the window. Plus, a recent article in TheRealDeal spoke of huge expenditures One Main is still making because of the problems Walentas left the building with. One Main’s interior is old and worn. And yes, this has been on the market a long time.
this place recently went into contract shorly following a price hike so the market for family sized units in dumbo is still looking ok.
http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=856976
“There’s no reason to think this won’t get pretty close to asking price.”
Uh, yeah there is. June 2008 looks nothing like early 2007. Ask any one from Bear Stearns. Or take a look at your retirement accounts. Or bank account. Or a fuel pump.
Pre-2008 comparables will be useful benchmarks for what NOT to pay.