Condos of the Day: Dewitt Actually Selling! Or Not
A lot has happened in the last few months at the Dewitt, the PACC condo project at 483 Washington Avenue in Clinton Hill that’s a mix of both market-rate and affordable units. After hitting the market last spring, the market rate units just sat there for most of last year, until the prices began to…
A lot has happened in the last few months at the Dewitt, the PACC condo project at 483 Washington Avenue in Clinton Hill that’s a mix of both market-rate and affordable units. After hitting the market last spring, the market rate units just sat there for most of last year, until the prices began to get reduced. As of November, not a single unit had gone into contract; now, lo and behold, all eight units in phase one are listed on Brooklyn Properties as being in contract along with another two in phase two. Impressive, especially given the state of the market over the last few months. Wish we knew what some of the contract prices were! Update: According to a commenter, the Phase 1 listings that are showing up as sold out are actually the affordable units sold by lottery. That explains a lot!
Dewitt Condo Pricing [Douglas Elliman] GMAP P*Shark DOB
Dewitt Condo Pricing [Brooklyn Properties] GMAP P*Shark DOB
Still an Uphill Battle at The Dewitt [Brownstoner]
Market Rate Units on Sale at PACC’s Dewitt Condos [Brownstoner]
“Update5”
Nice.
“who gives a s..t of whatever happens to the market, I maybe would have found the same house for a little less in the next year but the banks then wouldn’t have gave me that amount of money that I borrowed 3 years ago”
I and many other equity-counters (potential losers) and buyers (potential winners). If you have saved during the run-up and crisis, you could put more money down on a cheaper house and beat interest rate spikes.
Hi BrooklynLove, I thought you was captured by the enemy. Anyway I’m 45 years old, not young like these Asshats (Yep I said it). I have seen what a real recession will do, the 70’s and 1981-1984.
The upcoming DEPRESSION is going to be real nasty. BTW don’t waste your energy posting on this blog. these people have a vested interest in this Mutant Real Estate Bubble and will remain irrational. You don’t see me here too much and I feel good.
Just protect your assets and have some cash on hand. When the crash goes down, you will be OK.
The What
Someday this war is gonna end…
What – if you want to really find some bad production, spending and inflation numbers, and generally sickening economic news (US and global) search the nytimes archives around 1990. if that doesn’t do it for you take it back another 10 years. the current situation is not that bad, at least not yet, and it’s not going to be – central banks are too hands on now and major nations are much less protectionist.
“What is “The What” going to do if the credit crisis only results in a moderate recession followed by sustained growth?
Can he take it if the world doesnt come to an end? No revolution? No rioting in the streets.”
Well… Let the Chairman of the Fed tell you.
Bernanke Says U.S. Economy May Slip Into a Recession (Update5)
http://www.bloomberg.com/apps/news?pid=20601087&sid=awB_asncdFXM&refer=home
Federal Reserve Chairman Ben S. Bernanke acknowledged for the first time that a U.S. recession is possible because homebuilding, employment and consumer spending will deteriorate.
The key word here is deteriorate. Lets look at the definition of that word, shall we.
Deteriorate –verb (used with object), verb (used without object), -rat·ed, -rat·ing.
1. to make or become worse or inferior in character, quality, value, etc.
2. to disintegrate or wear away.
And…
“No revolution? No rioting in the streets.”
20,000 Vietnamese workers go on strike at Nike factory
http://www.chron.com/disp/story.mpl/business/5664161.html
More than 20,000 Vietnamese workers have walked off the job at a Taiwanese-owned plant that makes shoes for Nike Inc., demanding higher pay to keep pace with skyrocketing prices, officials said today.
And…
Discover(R) U.S. Spending Monitor(SM) Falls in March
http://biz.yahoo.com/bw/080402/20080402005250.html?.v=1
The Discover U.S. Spending Monitor reached a new low in March as consumers grew even more concerned about the economy and their personal finances in the face of rising monthly expenses. The March Monitor fell to 85.1, down more than a full point from the previous month and lower by 11 points than just six months ago.
Yep, everything is OK. And…
“Will he be able to live through it?”
I went to buy a radio for my car today. I want to play my Ipod and listen to some good music. I went inside the store and talked with the salesperson. The Radio would’ve cost 35.00 less last year but, I had to grin and bear it. Anyway, we started to talk about inflation and the economy and agreed on one thing, something has to give. See people understand what is going on and have no part in this Mutant Asset Bubble. I cant see why people still defend this position. America has major economic problems and yes I will live thru it.
The What
Someday this war is going end…
who gives a s..t of whatever happens to the market, I maybe would have found the same house for a little less in the next year but the banks then wouldn’t have gave me that amount of money that I borrowed 3 years ago, so I couldn’t buy the cheaper house, I live in a nice home and in twenty years when I’ll sell it I’m pretty sure it will be a nice profit! if not I lived the way I wanted to! enjoy your life!
1:34 – every 10+/- years the same script, and every time it’s different than the last – this is the one that will break us! this is the next depression! the only difference this time is that there are internet blogs on which alarmist sheep can herd. don’t dipair though, blogs like this will probably be around for the next trough as well so you’ll have another opportunity to call the apocolypse. and another after that as well. etc. etc.
I sincerely wish PACC luck with its affordable housing experiment, but the remaining units are still way overpriced for this location and this market.
“the “courtyard” is actually a parking and car turn-around area”
How lovely. Impressive.