Condos of the Day: Price Cuts at 95 Lexington Avenue
When we wrote about 105 Lexington Avenue two weeks ago, we didn’t realize that it was part of the same project as 95 Lexington Avenue next door. (Turns out that the same developer bought both buildings and filed to combine the two back in 2006.) Number 95, which is being marketed as the Lofts on…
When we wrote about 105 Lexington Avenue two weeks ago, we didn’t realize that it was part of the same project as 95 Lexington Avenue next door. (Turns out that the same developer bought both buildings and filed to combine the two back in 2006.) Number 95, which is being marketed as the Lofts on Lex by Corcoran, had already been on the market for a week at the time. Now, after being offered for just three weeks, prices on 11 of the 20 units have been cut in the range of 5 to 10 percent; the biggest and most expensive units have not been reduced. This looks like a pretty nice project overall and we bet would be selling better if it were one block further west on Lexington. We’re still surprised that finished loft space for around $500 a foot isn’t stimulating stronger buyer interest. Anyone been inside these?
95 Lexington Avenue [Corcoran] GMAP P*Shark
105 Lexington Avenue Coming to Market [Brownstoner]
3:08pm as you can see if you buy there you will be alone in that building for quite a while. can’t agree with you that these can be easily converted to 2 bdrms
I went to this building last weekend for the open house and these units are “true” lofts spaces, with the easy option of having 2 decent size bedrooms (which the builder will put in for you). I found the finishes to be above average and was surprised to find that the building is environmentally friendly.
No, I am not a broker, but a serious buyer who is going back again this weekend to take another look.
There are practically, no bedrooms in the ENTIRE developement. Big spaces, Yes. But, the finishes seem like the standard developer fake-luxury fare. For this money I have many choices in downtown BK.
These layouts don’t make any sense. They can’t be divided into bedrooms so this would only work if you want one large open space for that price which limits their appeal.However maybe another 15% cut could do the trick
keep chopping. maybe after another 15-20% i might get interested
One big problem for these project is that the brownstone market in Bed Stuy has plummetted. You can get an entire brownstone for 700-800K. It makes a 1200 sq ft condo for the same price seem very very expensive.
Halve the psf and I’m there.
If these were half the size and the price per foot stayed the same they would be flying off the shelves to first time buyers. It’s not that they are terribly off from a psf point of view but they are off from what someone wants to spend for Bed-Stuy. I don’t undrstand why more developers don’t make smaller units in these fringe areas where younger first time buyers would not hesitate to jump into the market.
Very odd layouts, and definitely not suitable for multibedroom configuration.
Each unit only has those 2 windows facing out. If you were to construct a 2nd bedroom, the space would be absolutely ridiculous. $675,000 will get you a decent 1-bedroom practically anywhere in Brooklyn. So it might be smaller, but the space would be more intelligently designed and the building would have more amenities.
I’d say prices are going to go down a lot more for this project.