HOTD: Another Follow-Up on 730 Fulton Street
Denial ain’t just a river in Egypt. 730 Fulton, a corner property in the Ratner-created Atlantic Commons townhouse complex, came on the market last August at $1.5 million. Our take, which was largely echoed by the readership (except for the surprising number of owners of other houses in the Commons who for some reason thought…
Denial ain’t just a river in Egypt. 730 Fulton, a corner property in the Ratner-created Atlantic Commons townhouse complex, came on the market last August at $1.5 million. Our take, which was largely echoed by the readership (except for the surprising number of owners of other houses in the Commons who for some reason thought the price sounded just right), was that this was a ridiculous stretch. So three months later, the price was cut to $1.4 million. Still no takers. Now the price has been trimmed to $1.375 million and we’ll reiterate our stance that this baby still has a long way to go. All we can guess is that the current owner is in no particular rush to sell and is taking the attitude that all it takes is one fool to make his day. We also hear that the owner dumped a lot of dough into customizing the interior that he thinks he should get paid for. As is usually the case, this is unlikely to happen in our opinion. At $1.1 million, we say, he might start seeing some interest. More than that? Not bloody likely.
730 Fulton Street [NYT Listings] GMAP
Fulton Newbie Asking Too Much [Brownstoner]
Open House Picks: Pressure Drop [Brownstoner]
Decent Townhouse Reproductions? [Brownstoner]
Who are you? The real estate police? Why are you dogging price increases in these neighborhoods? Increases are a GOOD thing. When you dog prices, you imply our neighborhoods are worth less.
Wow, over $1mil for formerly subsidized housing built by the NYC Partnership. I’m all for making a profit, but… on. Location can’t be evertything -can it?
Reality check people.
If you could knock it down and build something on the lot, then we’d be talking.
A two story, two-family frame cottage located on Dean St. (near 4th Ave and Atlantic) sold for over 1 million two years ago. No parking. Small back yard. Why is it hard to believe that someone would consider a three-family, semi-detached brick, on an oversized lot to be worth 500K more, 2 years later. This property is actually closer to the new hub (BAM, Atlantic Yards, restaurants, transportation, etc). Two bedroom condos across the street (Pacific) with half the square footage and no ‘bonus’ rental units are selling for close to, if not, over a million. I don’t understand why you are all so shocked by the pricing.
Wasn’t this formerly listed with Citi Habitats? Guess their exclusive wasn’t renewed — but “Luxor Home & Investmet Realty” — they can’t even get their name right in the ad…don’t think it’s going to help.
Not sure what he customized…just heard that bit of color from a broker familiar with the situation yesterday.
Brownstoner, thanks for updating us on the status of that one. I was blown away by the price back in August! Still blown away by the price-chopped number, actually.
you’re right, if you owned that property you wouldn’t sell because no one would buy that at 1.5 million dollars.
and what the heck did he customize? the interior pictures indicate he must have shoved most of his money on that stylistic ivy shrub growing all over the building because I’d be absolutely shocked that the couch/futon which is practically on the dinning room table and the green shag carpeting cluttered by crap to match the green blinds could be considered “customizing”. please enlighten me…