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]
Splitting a brownstone 4 ways…guess this is a solid alternative when you can’t buy an entire one. Just not sure even after the renovations the place is still worth it.
1:37 are you the broker? You sound like a retard and only a retard would price that at 900 PSF
1:37 I AGREE… I wish I could afford I buy in a sec… Not sure what exact price should be but layout looks sweet
I think this is a fine buy in a nice building. If you folks do not like this tyoe of housing go move to Florida or New jersey in a Nice Piece of shit ranch house and Have fun. everytime something come up you people have a problem with it. To me it sounds like the only readers lately are from RENTERS.
Funny, 1:07. But Boreum Hill is near Carrol Gardens. Fuuugghheettaboutittt!!!
it’s not a house, it’s not an apartment building, it’s a tenement. I thought that was an inexpensive housing type?
I looked quickly at this and thought the whole house was listed at 1.15 then gradually reduced to 895, and it made more sense that way.
Corcoran, we know you all read Brownstoner on the hour, if not minute, every fricken day.
Word to Corcoran: you’ll get more customers with realistic prices. The buyers with money are the educated buyers. They shop around, they know the playing field, they read blogs, forums and e-groups.
If this were in Carroll Gardens, what would you ask for this sorry building? 3.8 mil?
“These condo conversions seem like an increasingly tough sell to us as prices in larger new buildings only get more competitive.”
Yeah I think it’s the larger share of financial liability compared to that of larger developments. You are effectively co-purchasing/owning a whole brownstone with your upstairs/downstairs neighbor(s). Risky.
But then larger developments present a social liability – low owner occupancy. Of course this could also lead to a financial liability when it’s time to sell.
Ahhh…the factors of purchasing.