Condos of the Day: Price Cuts at 192 Spencer
It looks like the developers behind 192 Spencer may have been overly optimistic about the kind of prices the industrial section of northwestern Bed Stuy can support at this stage. The 47-unit building, which we’ve affectionately been referring to as the Kodachrome building, just reduced prices on the first seven units it released in September…
It looks like the developers behind 192 Spencer may have been overly optimistic about the kind of prices the industrial section of northwestern Bed Stuy can support at this stage. The 47-unit building, which we’ve affectionately been referring to as the Kodachrome building, just reduced prices on the first seven units it released in September by 10%; according to Streeteasy, a second batch of seven other apartments was also just released. Prices of available units range from $325,000 for a 634-square-foot one-bedroom to $611,100 for a 1,011-square-foot one-bedroom. Surprised that isn’t selling better? We are.
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‘Kodachrome’ Building Underpromises, Overdelivers [Brownstoner]
You do realize these are studios you are pointing out, right?
329k and 375k for STUDIOS in Park Slope.
Both are sold.
What is your point?
http://www.bellmarc.com/search/profile.asp?list_num=BS119507W
This one is in the same building in PS and sold for only $329
$500 is probably too much, but there are MANY condos that have sold maybe 400 yards away from this place near Pratt. Yeah, they sold in the $300s, but still. There IS demand for apartment product in this area. The question however is at what price?
I wouldn’t worry…
I live not too far from here – on Dekalb, and I would never live on this street. The building isn’t bad looking, but Spencer street is a dingy little street in the middle of nowhere. It’s not close to bars, restaurants and cafe’s on Myrtle. There’s tons of Hasidic apt buildings being built all around this (nothing against the Hasids, but they build UGLY apt buildings, and there is constant construction). Tiny Cup and Le Toukouleur are MANY blocks from here and as a G train rider, though it has gotten better, it’s still one of the worst trains in the city. Developer’s Group have a reputation of marketing crappy buildings that always have problems.
If this building was further east towards Ft. Greene, or further south towards Fulton, it would maybe be interesting. My prediction is Pratt parents from overseas are the only interested buyers or that it goes rental just like 99 Gold did.
i don’t think it’s 3 times the size.
in any case, these places are absurdly overpriced for what you get.
a young single person i would think would rather have a studio in ft. greene, slope, cobble hill or prospect heights before taking one of these places.
these are not going up in value anytime in the next 5 years. guaranteed.
yeah but the bed stuy place is 3 times bigger. Or so they say, I havent seen the floor plan for the glass house.
um….the place you just linked has sold, 4:09. it says in contract.
the bed stuy place would work out to around 2100 a month. the park slope place, 2797 as you say.
based on that, do you REALLY think bed stuy is only 700 a month behind park slope??
i think not.
ok this may be the nicest area of park slope but JESUS…
http://www.bellmarc.com/search/profile.asp?list_num=bs119508w#
for 375k with maint its 2797 a month. You could rent a place 4 times the size of this place for that much in park slope and split it up among 3 or 4 people. I rent a place in area for 1500 a month which is about the same size.
unless prices go down maybe Bed Stuy is the place to go. Still tho the monthly payment on the bed stuy place is going to suck balls. might as well rent.
g train access = lifetime of frustration