Condo of the Day: 932 President Street
After being bought for $1,425,000 back in the Summer of 2004, this brownstone at 932 President Street has been converted into four condominium units ranging in price from $700,00 to $1,190,000. If the seller gets his asking prices, he’ll gross just over $3.6 million. Of the difference between the selling price and what he paid…
After being bought for $1,425,000 back in the Summer of 2004, this brownstone at 932 President Street has been converted into four condominium units ranging in price from $700,00 to $1,190,000. If the seller gets his asking prices, he’ll gross just over $3.6 million. Of the difference between the selling price and what he paid for it, how much do you think will be profit and how much renovation and finance costs? Of course, whether the developer will get anywhere near the askind prices is a whole ‘nuther question. The renovation definitely preserved some nice original details (and the location is fabulous), but without seeing floorplans it’s pretty hard to say whether these things are realistically priced. Anyone seen ’em yet? There’s an open house on Sunday from 11 to 1.
932 President Street, Multiple Units [Warren Lewis] GMAP P*Shark
Photo by Kate Leonova from Property Shark
It’s not the brokers; I think the developers decide what they’ll list the finished units at before they even buy a building. The only thing brokers negotiate to get the gig is the commission.
These things do always sell. It’s a fact everyone has different comfort levels, and some people want all-new everything and to be in proven school districts. Even though yes, they could afford the best private school in all of NYC for the extra money they pay for a condo in the PS 321 school district.
But I agree it’s too bad the developers of these buildings (I’ve been to open houses in two other buildings by what I think is the same developer b/c they looked just like this one) choose all cheap materials. They’re making such a big profit, why not splurge on a few details at least? Like the kitchen cabinets alone, yuck. There’s NO storage in that kitchen because they were tightwads with the cabinets.
Where’s the stoop?
horrible, cheap and sad renovation! during the first open house they had, there was mold all over the basement walls- new sheetrock too.. they used white board on the walls when they excavated the basement to gain another level….pure shiiiite. They’ve been done for over 9 months too. a true shit sandwich.
The brokers don’t care, they seem happy to have the traffic. They are always pleasant. I tactful lie is that you are scouting for a relative who is considering moving to the neighborhood,
Anon 11:47, odd you should ask about going to open houses for sport because I plan to do just that this spring. I plan on telling them the truth. I am not really in the market, but just want to see what is out there just in case I decide to buy something. What is the worse that could happen – the brokers ignores you while you are there – which would be fine with me.
Your comment sounds suspiciously xenophobic, 11:50 am, as if anyone who wasn’t born and raised in the borough isn’t smart enough to live here. The truth is, people move to New York from other parts of the country or the world and do the best they can to find a good flat/neighbourhood/school, It isn’t always easy. . .
These will be bought by people who don’t know anything about Brooklyn and who think that the only safe places to live are Carroll Gardens and the North Slope. Oh, yeah, and who think the only decent primary school is 321. Well, there’s a sucker born every day.
Actually you can see the floor plans if you click on the listings, and it looks like the ground floor duplex for $1.19 million is a ONE bedroom?? There is a big “rec room” that I assume is below ground level?
I have a question about going to open houses for sport (because I know there must be brownstoner readers who do this). Do you say you are in the market for the apartment, when you’re not, or do you just say that you dropped in from the neighborhood? Do you use a fake name/phone number when you sign in? Do you make up an agent’s name?
418 Henry sold for $1.25 million in April 2005