Forte Reboot Priced to Sell
After going off the market at the end of the summer (presumably while the bank figured its plan of action), the Forte hit the market again at the end of last week under the auspices of Corcoran. The big news is that the units look priced to sell! Back in the old days, a 1,000-square-foot…
After going off the market at the end of the summer (presumably while the bank figured its plan of action), the Forte hit the market again at the end of last week under the auspices of Corcoran. The big news is that the units look priced to sell! Back in the old days, a 1,000-square-foot two-bedroom woulda cost you somewhere in the mid- to high- $700,000s. Now, for that price, you can pick a 1,435-square-foot three-bedroom. Crazy. From the looks of the first wave of listings, most apartments are priced at around $500 a foot. These could go fast at these prices. GMAP
Subway access to Clinton Hill is vastly inferior, most of it only close to the G train (and not even all that). And what condition are these houses in for $350 psf? My guess is they are not in the historic district and not in great shape — so would require fixing up. Two totally different markets.
You have to add into the equation that Corcoran are known thieves and are part of the housing problem, not the solution. In fact, if you look at the listings for this sore thumb (located conveniently right next to a 99¢ store), they claim that there is a one bedroom at 707 sf, but the floor plans show no bedroom. These people would sell one of these overpriced units (basically in the ghetto, with shootings and stabbings at least weekly after school gets out—check the crime blotter) to their own mother!
Corcoran site doesn’t appear to list what floor the apts are on. Without this info, it’s hard to judge the price.
davfgreene—perhaps not in Ft Greene proper but in Clinton Hill one can buy houses for 300-350 psf.
davf going rate in Fort Greene Brownstones are at 500 psf
Wasder said: “500 a square foot doesn’t sound that great when you can buy houses in the area for much less psf.”
I highly doubt this. Examples please?
kens—of course not everybody wants a house but the psf still seems a little out of whack for the condo market.
wasder, what if you don’t want a house and actually want a new modern built condo? I would opt for a house but not everyone would. Some pay a premium to have a condo and not worry about boilers and shoveling snow but we have discussed that before.
500 a square foot doesn’t sound that great when you can buy houses in the area for much less psf.