Desperation Leads to Sealed Bids at Shangri-La
The developers of the Shangri-La at 710 Sixth Avenue in Park Slope have, evidently, lost patience with the lack of buyer interest in the building. (Not surprising: Only one out of 16 units has gone into contract, according to Streeteasy.) According to these cries of desperation that appeared in the New York Times this weekend,…
The developers of the Shangri-La at 710 Sixth Avenue in Park Slope have, evidently, lost patience with the lack of buyer interest in the building. (Not surprising: Only one out of 16 units has gone into contract, according to Streeteasy.) According to these cries of desperation that appeared in the New York Times this weekend, they’re accepting sealed bids until 5 p.m. today. How low can you go?
‘Shangri-La’ No Paradise for Buyers. Or Brokers. [Brownstoner] GMAP
New Development: Greenwood’s Shangri-La (Not) [Brownstoner]
Listings: 710 Sixth Avenue [Prudential Douglas Elliman]
LOL at the pictures of pillows in the listing…
You have four pictures on display without having to open a new window to see more, so naturally you choose A CLOSE-UP OF PILLOWS?
Wow, doing the simple math shows the developer is looking for close to 10 Mil for all the units based on asking.
Ive been to this building, cant see how it is even worth 4 or 5 million – or roughly the price of 3 very nice brownstones in this area.
Developer should just cut prices by 30% and take whatever they can get. Even at those prices they will likely turn a decent profit.
I would get out before I cant give them away…
They could rebrand this hood as “Greenslope” or “North Sunset” or “Prospect Slope” or “NorthGreenwoodsunnyslope” or “HolycrapImbetweenanexpresswayandacemetarybuthopefullyIcanshuckandjivemywayto700persquarefoot”
Elliman couldn’t sell their way out of wet paperbag.
[sound of crickets]
“Steps to the ConEd substation.”
Also steps to Green-Wood Cemetery.
No surprise, and I haven’t even been in the building. Drove by and loved the over-sized turn of the century black “gas-light style” lighting either side of the garage on the “modern” building.
And didn’t I see someone post on another Greenwood Heights thread (this is not Park Slope, but you all know that) this area is getting more units on the way. Numbering around 50 in a one block radius? And they cannot even unload what’s currently on the market?
I’d say there will be a fierce rental market in that area very soon. Probably good since I know from friends such a large amount of the existing multi-family housing stock had been sold, demo’d and developed for such lovelys as 710 6th Ave.
It’s not so much the location of this building as the design, construction, and layouts. All three were not what you would expect for something in that price range. Not a very thoughtfully conceived building, guess that its lack of sales reflects this.
Steps to the ConEd substation.