Condos of the Day: 210 South First Street
As if there were any shortage of them, six more Karl Fischer condo units in Williamsburg hit the market this past weekend. The 1,069-square-foot, two-bedroom floor-throughs are priced in the low-$700,000’s and, according to The Developers Group website, there’s already a contract out one of them. The units look like standard TDG fare to us—not…
As if there were any shortage of them, six more Karl Fischer condo units in Williamsburg hit the market this past weekend. The 1,069-square-foot, two-bedroom floor-throughs are priced in the low-$700,000’s and, according to The Developers Group website, there’s already a contract out one of them. The units look like standard TDG fare to us—not too hot, not too cold. Anyone check them out?
210 South First Street [TDG] GMAP P*Shark DOB
Buyer beware, My wife and I bought from this sponsor who also built 198 roebling around the corner. The ground floor apartment have flooded 4 times and the remedies he put in place seem flimsy.We had to bin lots clothes from our basement storage unit. He is also trying not to build the roof deck which was promised in the offering plan.IF you buy from this guy make sure to read the offering plan, and put some money aside for attorney fees. You shouldn’t have these problems for the money he wants.
snuff said
thank you 10:46. no shit. really. also, what the hell are you supposed to do if you don’t have a rent stabilized apt. you are totally screwed if you don’t buy.
I honestly do not mean to be rude. but you either do not live in NYC and have no idea what the nyc market is like, or you are just completely dillusional. First of all, a property is worth what someone is willing to pay for it. There are many, many people who are willing to pay the prices in Manhattan, in Williamsburg, in Brooklyn Heights, and so on. NYC is more or less immune because there is a very finite amount of space, a shortage of housing, and an enormous demand to own property here. Furthermore, it is not difficult to get credit. Assuming you are a worthy buyer to begin with, as long as you have good credit and you can declare your income you can still get a very competitive mortgage. The markets you are addressing are not the markets where foreclosures are taking place and are not the markets that attract border-line buyers. Manhattan prices are going to come down 40 – 50%? You are out of your mind.
“lets all wish really hard, and by this time next year Manhattan prices will all drop 80% too!! ..ok …go!!”
People are spineless and greedy so ‘wishing’ for prices to come down ain’t going to do the trick. The siphon has been shut and the ‘credit crisis’ will take care of the price collapse.
I don’t think Manhattan will come down 80% though. More like %40 or 50%. But what I’m trying to say is to laugh in the face of anyone selling for 50 to 80% more than property is actually worth. They tell you 700k, you say 200k and then work towards a medium price range both will be happy with.
In the recent speculative market, sellers had no problem marking things up many times their actual worth because the flippers and first timers could get easy credit. No one really questioned or actually negotiated overinflated prices. That time has come to an end. If anyone is foolish enough to get involved in a mortgage for severely overpriced real estate it’s not too far fetch that they will simply walk away from that delusion as reality sets in and the price valuation continue their downward spiral.
Manhattan is NOT immune.
http://reggiemiddleton.typepad.com/reggie_middletons_perpetu/2007/10/manhattan-real-.html
No offense 4:01, but that was easily one of the most retarded comments I have read in a long time. OK, now lets all wish really hard, and by this time next year Manhattan prices will all drop 80% too!! ..ok …go!!
No one should pay over $300k for any one of these. Let’s get prices back in line with 4x median income!!
Let’s see:
– NYC median is about 65,000
– $65,000 x 4 = $260,000
– factor in $40,000 for the ‘luxury/name/TDG’ factor
– Total: $300,000
Nothing in the Greenpoint/Williamsburg area should be worth a million buck or even close to that. By this time next year, the market will speak loud and clear.
If you worked one out off one of those balconies, the spunk would land on the people below.
Brownstoner and 1:39, You guys might have received an e-mail only last week, but it is obvious that the first poster has some kind of royalty status and got to see them far in advance. “I was presented with these…”
Wrong side of Metropolitan for 700’s. No?