House of the Day: Price Plunge at 602 Pacific Street
Most listings have to stagnate on the market for a while before their asking prices get reduced. Not so with the building at 602 Pacific Street in Prospect Heights. This four-story brick building had only been on the market for a few days (according to Natefind) before someone took a hacksaw to the original asking…
Most listings have to stagnate on the market for a while before their asking prices get reduced. Not so with the building at 602 Pacific Street in Prospect Heights. This four-story brick building had only been on the market for a few days (according to Natefind) before someone took a hacksaw to the original asking price of $1,200,000. Market jitters aside, the new asking price of $999,999 seems still hardly seems like a table-pounding buy for a building that only has one duplex apartment in addition to the two-story storefront. It’s hard to opine any more specifically because the Corco listing doesn’t include any interior shots. Judging from the exterior, however, we’d be surprised if the interior was anything more than mediocre.
602 Pacific Street [Corcoran] GMAP P*Shark
I have lived on the block a number of years and this building has been on and off for sale for a least a year.
The block has gone through great changes and a core group of residents work really hard on making it nice. The community Bear garden is protected from FCR. FYI 5th Ave is the IT place to be now. Come by and you’ll see great restaurants and fun places to shop. No more hookers or squatters. Buildings are going for over 1.5 million on the block.
Also one horrible thing that FCR is planning is making Pacific street a two way street as the “solution” to the impending traffic problems of Fourth Avenue and Flatbush avenue. Any highlighting of this issue by Brownstoner and others and any realistic thoughts of fighting this disasterous plan are welcome.
Sarah from Pacific Street
This building has been on the market for a long time with other smaller brokers. I believe I’ve seen it on craigslist for at least 6 months, if not closer to 9 months.
The property is interesting due to its proximity to AY but it will be as a commercial space. This will be prime commercial real estate right across from the stadium but it will take a while for that to happen.
I have seen for sale signs on this building for at least a few weeks. Doubt it was by Corcoran though.
slated to be part of the Atlantic Yards development. I read somewhere that those stores/community garden are going to be replaced with a huge (towering) hotel. The folks on that block, who have made such wonderful strides in improving the look/feel of the street with renovations, flower plantings, etc., will be rewarded with years of construction once Forrest City Ratner gets the green light.
It doesn’t seem that 999K would be a fair price given the years of construction to come plus the loss of air space/light from a tower directly in front of the building.
The community garden, P.C. Richards, and Modell’s (all located across the street) are slated to be part of the Atlantic Yards development. I read somewhere that those stores/community garden are going to be replaced with a huge (towering) hotel. The folks on that block, who have made such wonderful strides in improving the look/feel of the street with renovations, flower plantings, etc., will be rewarded with years of construction once Forrest City Ratner gets the green light.
It doesn’t seem that 999K would be a fair price given the years of construction to come plus the loss of air space/light from a tower directly in front of the building.
I used to rent next door in 600 back in the days in late 90s. (Next building, to the right) It was our first apartment after we moved to NYC. It is not the most charming block behind pc Richard however has nice community garden in the corner. Back then there where hookers on the corner of pacific and 4 ave and deli on the Flatbush corner had porn and bagels with yellow American cheese, 5 ave was a place you don’t go late at night. Once bunch of kids tried to mug my bike on Flatbush, but unfortunately for them my English was not good enough or maybe I didn’t get the mugging with weapon in the packet idea, so they get nothing.
I got a little sentimental. Building is nothing special. The best part is a subway access of this location.
Please bring back the kitchens!