First Closings Recorded at the Satori
Last week the first three closings at the 34-unit Satori, the condo on Bond and Carroll streets, were recorded in public records. Here’s what went: Unit A3E, which, according to the building’s condo declaration, is 1,000 square feet, closed for $733,140, with the sale including a parking space; unit B2A, a 661-sf apartment, sold for…
Last week the first three closings at the 34-unit Satori, the condo on Bond and Carroll streets, were recorded in public records. Here’s what went: Unit A3E, which, according to the building’s condo declaration, is 1,000 square feet, closed for $733,140, with the sale including a parking space; unit B2A, a 661-sf apartment, sold for $481,650; and unit A3A, a 1,100-sf unit, fetched $789,000. StreetEasy shows 12 active listings in the building, with prices going from $299,000 for a 500-sf unit to $749,000 for a 1,550-square-footer. The condo got its final certificate of occupancy in May.
340 Bond Street [StreetEasy] GMAP
More Price Cuts at The Satori [Brownstoner]
Oh well, there goes the neighborhood’s favorite uninhabited white elephant. My girlfriend and I used to really enjoy walking by that place when walking the dog, laughing our asses off.
same as current ask. no debacle. (yet?)
who’s the idiot now, the seller?
who moved the goalpost?
congratulations to you too.
Thanks for the details. $500/sf.
Not nearly as strong as the $700/sf you initially praised, mind you, but if you move the goalposts enough, it looks like you scored a victory. Congratulations!
Can’t just serve you your meal, now I have to chew it for you too?
Detail: Schedule A, p34, 35 of Condo Declaration. Available publicly at ACRIS website. You can follow links in Gabby’s post.
Math Lesson # 1: A3E total sq ft = 1483 (excluding outdoor space) at $733,000 is $494/sq ft
Math Lesson # 2:B2A total sq ft = 886 at $481,650 is $494/sq ft
Math Lesson # 3: A3A total sq ft = 1575 (excluding outdoor space) at $789,000 is $501/sq ft
If I recall that is exactly the price of the current Streeteasy asks. So no overnight collapse and no collapse in two months.
These are undeniably strong sales for a new condo on the edge of a strong neighborhood in a building that is less than 50% sold. Further, $500 sq ft under values the property as it gives full value to mezz level. If you apply a 50% haircut to mezz area, each of these sold for the equivalent of $600 sq ft. I defy you to show me local comps that traded 20% above these levels…ever.
> perhaps the reason you can’t even carry on a logical discussion…
Is that a discussion takes two and you are employing zero logic.
> details matter
Indeed. You’ve provided none.
PPS
rely on Streeteasy at your own peril. in this case it’s wrong.
and it takes a split second to realize that those histories don’t pass a smell test. (except they passed your smell test. LOL.)
and it takes about two minutes of clicking to see what’s really going on. it’s a little confusing if you’re unwilling to dive into the details, so i understand why you don’t get it.
you were the one jumping to (wrong) conclusion.
i think that those are strong prices still.
you still think the buyers are idiots.
perhaps the reason you can’t even carry on a logical discussion is that you’re too busy down your alice and wonderland hole. i can see you enjoy your alternate reality, reina.
details matter; smart ass comments from a loose cannon…not so much. occasionally good for a giggle, but not much else.
PS:
> Price did not collapse $200 sq ft overnight.
Indeed. In the case of unit 1B listed above, the 40% price drop took two months.
I think we’re done here.
Poor, poor Auntie D. You could have left it alone, but no, you had to paint yourself even further into a corner.
Let’s assume you are correct – based on nothing, but I will humor you – and Mr B did not include the mezzanines in the sf measurements.
All that means is that the $psf on these initial sales were lower, thus diluting your initial premise that these were strong sales.
Queen takes pawn. Checkmate.