Condos of the Day: 153 Lincoln Place
Fifteen months after buying the Victorian mansion at 153 Lincoln Place in Park Slope for $5,500,000, the new owners have converted the former brothel into a swanky 10-unit condominium. Prices at the Lincoln Condo range from $900,000 for a lofty two-bedroom to $1,450,000 for a three-bedroom duplex. Clearly this was truly a gut reno (probably…
Fifteen months after buying the Victorian mansion at 153 Lincoln Place in Park Slope for $5,500,000, the new owners have converted the former brothel into a swanky 10-unit condominium. Prices at the Lincoln Condo range from $900,000 for a lofty two-bedroom to $1,450,000 for a three-bedroom duplex. Clearly this was truly a gut reno (probably by necessity) so there’s no historic detail to speak of in the interiors; the size of the building, however, means that the layouts are more interesting and, in some cases, spacious than your typical brownstone condo. We’re particularly digging this bay-windowed bedroom. There’s an open house on Thursday from 4 to 8 p.m. and on Sunday from noon to 4 p.m.
153 Lincoln Place Listings [Brown Harris Stevens] GMAP
No More Cheap Rooms at 153 Lincoln Place [Brownstoner]
Memories, Draped in Red [NY Times]
This place is two steps from a bunch of restaurants on 7th. Olive Vine [?], Chiles y Chocolate, that Thai place I always walk by, that Chinese place I always walk by, that Mexican place I always walk by, etc etc. Granted, the best restaurants in the Slope are on 5th, but there is no shortage of perfectly competent food options very close to this place.
I assume this place is zoned for PS 282, which as far as I know is more of a “not bad” than a “good.”
Don’t get me wrong, I think this place is overpriced. The prices just aren’t as insulting as a lot of other places on the market right now (I am using the Vermeil as a whipping boy in this thread because it is so close to this place and I find their asking prices particularly aspirational).
I’m all about nice old buildings, but this is a house chopped up into 10 apartments. Here is my biased analysis
_the Edge and Schaeffer Landing_
Similar size, better floor plans, high ceilings
water views, large windows, lots of light
doorman, elevator, all the services
easy access to the subway
great access to culture and restaurants
modern design
good public schools
_Former Whorehouse_
Inferior configuration, low ceilings
no views, limited light, small windows
no services
easy access to subway
hike to restaurants on Fifth Avenue
Minimal culture save for BAM and Southpaw
nice antique facade
good public schools
It just doesn’t make sense. It’s one thing to pay a lot for a townhouse that is yours, but people buying apartments very rarely place a huge premium on a facade alone. I absolutely guarantee these units won’t sell for anything close to asking.
Almost $1.5 million for a master off the living room, a teeny tiny kitchen (the photo is clearly of a different kitchen), and two additional small bedrooms seems like a lot to me, even for a cool building in a good location.
I’m just curious – how are square feet calculated here? Is it interior square feet? I ask because it seems as if, in many smaller buildings (i.e. 4-unit coops, one per floor), square footage is calculated by using the exterior building dimensions, and then subtracting for common space (stairwell) but in other cities, it seems people count square footage as only *usable* interior space, that is the space inside the walls, not going to the exterior walls. Anyone know the answer to this?
I also think this place will steal “cleintele” away from the Vermeil because it’s a lot better to live in an old whorehouse than on the site of a deadly airplane crash.
The Vermeil changed brokers again a while back…to Corcoran, which means they will stay way overpriced (part of the Corcoran playbook, apparently – when I see a Corcoran listing I always mentally deduct 20% from the asking price).
Naughty 11233, very naughty, but funny!
What services come with this building? (let the puns begin.)
It’s actually $932 per sf for the biggest unit. I also can’t figure out how they fit 10 units into this building, but the apartments seem nice and the location is very good.
I live a block from this place. Terrific location. Nice looking building. Good subway access without being too close to Flatbush (unlike anything from Sterling to Flatbush, and in particular unlike those horrid condos on Park Place).
With the caveat that I haven’t seen the units (yet), I think their asking prices are high for this market. It shouldn’t be too hard to sell these apartments, but I would be surprised if they don’t take a 10% haircut. These would have flown off the shelf a year ago, but right now… we’ll see.
If the contruction is of good quality, this place should get buyers who would otherwise be looking at the Vermeil (which is at least 20% overpriced). Same area of the Slope but better location, and a more aesthetically pleasing building.