Greene Avenue Lofts Not a Shoe-In So Far
When we wrote about the Shoe Factory lofts on Greene Avenue in early October, the prices had just been cut across the board by 10%. Now it looks like some of the units were cut another 5% just before Christmas. As biased as we are (our place is just a few blocks away), we’re surprised…
When we wrote about the Shoe Factory lofts on Greene Avenue in early October, the prices had just been cut across the board by 10%. Now it looks like some of the units were cut another 5% just before Christmas. As biased as we are (our place is just a few blocks away), we’re surprised these aren’t moving faster. According to the Corcoran website, four out of thirteen units are now in contract.
242 Greene Avenue [Corcoran] GMAP
Price Cut at 242 Greene Avenue [Natefind]
Condo of the Day: 242 Greene Avenue [Brownstoner]
Mixed Results at Greene and Grand [Brownstoner]
Does anyone know anything about that building that is being built a couple doors down from the Shoe Factory (closer to Grand)? It looks to be another condo, but I haven’t seen any work being done on it recently.
No doubt, prices for condos in burg are crazy, yet we got a place in the 500$ a square foot range.Its a buyers market and any reasonable offer will do.
I’ve been looking for something in Clinton Hill and Fort Greene for a while now, and eventually came back to the Shoe Factory Lofts. I hope to put in an offer this week for a 3 bedroom unit; I agree that while this condo is on the edge of CH, look at how fast CH is spreading outwards ! And per square unit, it is much cheaper than W’burg (my current neighborhood, with overpriced condos spreading like a bad rash). However, the corcoran realtors are pretty awful. I almost backed out due to my bad experience with the realtor at Shoe Factory.
Went to go see the shoe factory with my wife and really liked the layout. Solid throughout and no flimsy cabinets and bathrooms like some condos in the burg. We put in a serious offer for 4b and our response was not even returned. Luckily we were bidding on great condo the warehouse in the burg, the neighborhood while not as pretty has more to offer.The developers group brokers are responsive and are willing to work with any offer. The cocoran brokers just turned their nose up at us, and now look who’s crying. They have a good product but their brokers need a lesson on keeping potential buyers in the game.
This is obviously a bunch of nonsense written by a bunch of trolls.
There is no way you are involved with residential architecture… typical “new construction†living rooms range from 11ft- 14ft widths… the widths here are 40ft in some units. That’s not just big that’s gigantic.. and that’s what “loft like†means… big living rooms. New construction master bedrooms are typically 11×12. These are 12×16… 14×12… 11×17… and most of the units have walk in closets and all of the units have private storage.
And the one thing about condos is that the measurements are consistent.. (that is measured the same from one to another building)… And if you were in architecture you would understand that measurement. And 14ft of closest space is small?? Do you know what 14 ft looks likes?
Williamsburg is a minimum $600/ft market.. and that would be for small.. no doorman type buildings… Toll wants $1000/ft for their doorman-y living experience.
970 Kent is a nice building… that is really far away from here and from anything for that matter. It’s a nice building in the middle of no-where. Greene between Grand and Classon is WAY more convenient (not to mention pretty).
This building may not have a doorman (geese… when did you all become such pris’s about opening your own door… what buildings in Clinton Hill have doormen?) but it does have an elevator and big private storage spaces which is more then the 4 most comparable buildings selling in the immediate vicinity have… which are as follows:
71 Lexington $675/ft
88 Quincy $600/ft
302 Washington $750/ft
171 Greene $1033/ft (genius)
The prices here range from $391-548/ft. That’s crap that there is nice property out there for less then $500/ft. Construction costs alone are $300/ft (not counting acquisition or soft costs).
And lastly, there has been no other price drop besides the one that occurred 1 week after these went on the market… the same one you have written about I think 3 times now.
Wow… I use to think Brownstoner had good information.
I would make sense if it were so, but I don’t know about price always being the biggest factor. I see people willing to overpay just because all the details are right, in a unit. This happened with a unit I sold recently. The price WAS realistic and did reflect the fact there wasn’t a new kitchen. I don’t believe in letting a property sit around forever, which is the kiss of death. I think the buyers set the price, in a slower market like it is now. If the property can go for more, then multiple offers will drive the price up. Anyway, I did sell after being on the market a few weeks, to ecstatic people who recognized a deal when they saw one. But it was SO strange to see people seemingly willing to pay $75-100K more for a similarly sized and located unit with a new kitchen, when they could put a new kitchen in the place I was selling for $20K. I say $20K because the kitchen already had brand new, high quality steel appliances, sink and faucet. And our location was fantastic; a very good block. Go figure! I think I’ll always be baffled by that one. Until it comes time to sell the next place perhaps – ha. NYC real estate is really something. It’s an adventure.
Easy to cast blame on furnishings. They are only a small part of the equation. The main factor about selling is the price. Corcoran used to do quite well for themselves when the market was rising. They bought listings by just promising sellers and developers ridiculously high numbers. Then they just sat on the listings for as long as humanly possible and prayed the market would meet the price. Well, as if by magic eventually they were able to get their listings sold. Now I’m not so sure. I sell they still get a decent amount of listings, but I don’t think they sell very quickly for the most part. Not sure if their overpricing was a corporate decision or simply bad management at the corporate level with their often-inexperienced agents.
9:17, the details are important. If bad furniture and decor make for a worse impression of a building with flaws, it won’t sell. A fantastic building or house will sell, period, even if there are improvements to be done yes of course we all know that. But for properties that have challenging flaws, they need to do everything they can to put their best foot forward when being marketed. You know, it’s why there are entire TV shows dedicated solely to showing people how to make a less desireable property more appealing.
Not a complainer – But I am an architect and I am in real estate. The given meauserments in an advertisement are NOT the actual dimesions…they are used for marketing and include UNUSABLE space and the door “nook” as part of the overall dimensions…sorry,to disappoint you.
We have been laughing at these layouts for a while in my profession. They are inefficient and tight for “lofts”,but you are welcome to buy one. They put too many units per floor: greed.
14 ft of closets is SMALL for that price in LOFT 2BR apartments -it is also fictitious like the bedroom dimensions.
You must take a tape measure with you and confirm for yourself.I read/ draw plans for a living kids and I make condo offering plans…
I also lived in FT green for 6 years. Still shady on that side and that grocery store is…well, questionable. Fresh Direct is your best bet if you have cash to burn after paying your maintenance and mortgage…
THEY ARE NOT SELLING FOR A REASON.