Condo of the Day: Stretching on Wyckoff?
Even if we give the seller the benefit of the doubt that 88 Wyckoff is indeed a lovely “art deco style” building, we have a hard time understanding how to justify the asking price of almost $900 a foot in Boerum Hill. There’s another similar listing in the same building (that we’ve written about before)…
Even if we give the seller the benefit of the doubt that 88 Wyckoff is indeed a lovely “art deco style” building, we have a hard time understanding how to justify the asking price of almost $900 a foot in Boerum Hill. There’s another similar listing in the same building (that we’ve written about before) that’s been languishing on the market for three months or so despite a series of price cuts that has brought the price down to $799,999 from the original ask of $850,000. This one’s asking $875,000 for 985 square feet. Are they over-reaching in a big way or are we out of touch with the co-op market in Boerum Hill? You can see for yourself on Sunday at the open house from 1 to 4 pm.
88 Wyckoff Street Loft [Brooklyn Heights Real Estate] GMAP
The 1BR being brokered by Terry Naini of Elliman Brooklyn has mysteriously disappeared from Elliman’s website, and not in that “sold” kind of way. Anyone have info? Anyone see the other 1BR?
Its probably about $75psf too much given the increased/increasing inventory on Atlantic Avenue, State Street, Third Avenue and here and there throughout Carol Gardens. Pricing on Condos in this neighborhood is probably more art than science given the paucity of condominium or co-operatives prior to the recent spate of development.
One suggestion to the seller would be to get a broker that at least uses a spellchecker (inti, pleinty, granit?) but maybe I’m just being picky. Another would be to make sure to up some photos that give you an idea of the place, and maybe getting out of the way of the camera yourself wouldn’t hurt! Obviously a floorplan would be a good thing. Also, this building dates from 1905 and is hardly Art Deco. Personally I think both apartments are priced too highly. I’ve been in the other one and despite what Ms. Naini claims, it can’t be turned into a 2BR without seriously compromising the living/dining room. This apt. is smaller and, although there’s no layout info, I would assume the same holds true. Similar-sized one bedrooms have been selling in this building for between 500K and 600K (although on lower floors) and I don’t see anything in either of the two apartments featured in Brownstoner to justify a minimum 200K price difference. The finish on the 799K one is nice, but nothing to write home about (despite the Time Out NY attention) and nothing worth paying a premium for; the 875K is in serious need of a paint job, judging by the pictures, and while it has a fireplace, it’s laughable to put the price at close to 900K. Sure, it’s a great building and unique in an area being littered with boring new developments, but let’s be reasonable here.
Sounds high.
Agreed that the other one looked nicer in the pics…
The other apartment looks much nicer at least by the listing pictures. No floorplan for this one but the other has a washer dryer and a small office. Given that that one has had to have a price cut I’ll vote this one as overpriced.