Condos of the Day: 384 Maple Street
The developers of 384 Maple Street, a six-unit condo building in Crown Heights, were trying to flip the project back in 2006 before it had even begun. Too bad for them that they didn’t find a buyer back then. So far, the end-product has not been moving so well: After four months on the market,…
The developers of 384 Maple Street, a six-unit condo building in Crown Heights, were trying to flip the project back in 2006 before it had even begun. Too bad for them that they didn’t find a buyer back then. So far, the end-product has not been moving so well: After four months on the market, six units are still available and one just got a big price cut. We’re a little unclear how many units there are in all—the new building application called for 10 but the Elliman site lists only six. Prices range from $550,000 for a 1,566-square-foot three-bedroom to $799,000 for a 1,834-square-foot three-bedroom. There’s an open house on Sunday from 12 to 2.
384 Maple Street [Douglas Elliman] GMAP P*Shark
Development Opp: Karl Fischer, Off The Rack [Brownstoner]
Strange that this condo building on the outskirts of PLG is considered real estate “news” by Brownstoner, even though most people in PLG barely know it exists.
The real news of the neighborhood everyone is talking about is the 20-30 story luxury condo with retail and parking underneath being built on Lincoln Road near the park in PLG, next to the B/Q stop. The scaffolding is up and demolition started this week. Also in PLG there’s the condo being built on Ocean on the park, the demolition was completed recently. AND just this week the property next door to it went up for sale listed with Sotheby’s and being marketed specifically to developers.
I’d have thought for those following Brooklyn real estate in any serious way those developments would merit the attention. Not this building. I hope this building sells its units but it’s true it is a bit ill-conceived, the sizes of the units and the location.
1:31, I owe you a beer. Apologies.
Is this thing actually built yet, or is still just girders and computer renderings?
Actually, people spend more on condos in that area if it is within the boundaries of the Jewish neighborhood. The new condos going up north of Kings County Hosptial are actually more expensive, and they are selling.
This condo is sorta nearby, so maybe the developers should market to that demographic.
Nobody is going to spend that kind of money or anything close to live in that hood in this RE market. Period
GMAP link typo: “hhhttp”
The price of $550,000 for a 1,566 square foot 3BR certainly reflects this building isn’t located smack in the middle of Brooklyn Heights. This particular block won’t appeal to everyone, but all apartment and condo sales are slow and taking several weeks or a couple months to sell, even in better locations. It only makes sense a non-prime location would take even longer. People keep gleefully reminding everyone it’s not the bubble anymore, but then turn right around and base their judgements on standards that were specific to the bubble. Kind of illogical. Things just aren’t going to sell overnight anymore, anywhere, unless it’s a fantastic location that’s a bit underpriced. But how rare are those? Sellers in the better locations are still stubbornly pricing things high. Even if they sit there unsold.
you would lose 1:27 – I posted 1:11 but not the others.
I agree these places are ugly and overpriced and a long walk to the train, but $5 says the last four comments are from the same ip address.