Condos of the Day: Price Cuts at 402 Pacific Street
The first month on the market was not a good one for 402 Pacific Street, the four-unit townhouse conversion in Boerum Hill. As a result, all four apartments have just had their asking prices trimmed an average of about five percent. The biggest unit, for example, was reduced from $1,250,000 to $1,150,000, a function, perhaps,…
The first month on the market was not a good one for 402 Pacific Street, the four-unit townhouse conversion in Boerum Hill. As a result, all four apartments have just had their asking prices trimmed an average of about five percent. The biggest unit, for example, was reduced from $1,250,000 to $1,150,000, a function, perhaps, of about a third of its square footage being located on the ground floor. By comparison, the cheapest unit (the second floor) came down just $30,000 to $895,000. The overall reno doesn’t really move us, but the windowed extension is a nice touch. These condo conversions seem like an increasingly tough sell to us as prices in larger new buildings only get more competitive.
402 Pacific Street [Streeteasy] GMAP P*Shark
402 Pacific Street Gut Job [Brownstoner]
too much money.
I can buy a 2 bedroom in brooklyn heights for less than 950
I live around the corner and have seen the market for full Browntones go to $2.0+ mm. I’d rather buy a full house (i.e. duplex + 2 rentals) than one of these condos. If you buy a house you’re getting $2,500 for each of the rentals you’ve got $6OK a year of base year rental income which could service about $800K-$900K of mortage. That puts the cost of your parlor duplex at $1.1-$1.2 mm, which seems better than a condo floor through at a slightly lower price.
P.S. I think the renovation looks good, but the layout is odd. One of the 2 bdrooms in each apartment opens right into the kitchen.
Corcoran one word, Malfeasance!
GO to corcoran ID 1220364.
2:34 – Well I guess it depends on how you define “nice.” I always was looking for two bedrooms that a family of four could live in, and for that you wouldn’t be paying less than 3000.
we def. have the broker or the owner on this thread. Hook line and sinker, lets real this fish in!
Thank you 2:43 PM do you know where these listings can be viewed online? It appears that they are not accessible through brownstoner.
2:38PM
That is all people do on this site that is why the web master has a flea market? He needs to constantly try new and different things to be a bottom feeder and thus he has a flock of really really far out and bizarre people who bitch all day.
I live on the same block as 402 Pacific, and it is a very nice block. It is pretty much in subway heaven, being near the F/G, A/C, 4/5, 2/3, B, D, Q, and whatever else stops at DeKalb and Pacific & 4th.
Having watched the development, it appears the devloper did a quality job on what started out as a very unpromising gut job.
My neighbors and I think those condos are a whole lot of dough, but then again we’ve always been shocked at what people pay. Prices in Boerum Hill just keep going up and up.