Condos of the Day: Price Cuts at Forte
The same forces that have led to recent price cuts and rental reversions in the Downtown area are also bleeding over into the BAM Cultural District, where the Clarett Group (a long-time advertiser on Brownstoner) just started cutting prices on some of the Forte’s 110 units. Two bedrooms that used to be in the $750,000…
The same forces that have led to recent price cuts and rental reversions in the Downtown area are also bleeding over into the BAM Cultural District, where the Clarett Group (a long-time advertiser on Brownstoner) just started cutting prices on some of the Forte‘s 110 units. Two bedrooms that used to be in the $750,000 range just got about $100,000 cheaper. The 1,059-square-foot Apartment 8D, for example, is now $650,000. Think that’ll be enough to get fence-sitters to pull out their checkbooks?
Forte Studios on the Market [Brownstoner] GMAP
Forte’s Law: Doubling Height Every Month [Brownstoner]
From Cheesecake to Condos on Fulton [Brownstoner]
“Speaking of new condo developments, anyone know what’s going on with 475 Sterling Place? Anyone looked at the 2 bdr/2 bth units there?”
Total crap. I would never recommend these even to my enemy. The workmansip is crappy and the finishes cheap.
In the long run, I think this building will increase in value. Right now, though, the kinds of people who are willing to put up with cramped, cookie-cutter condos are still clinging to the isle of Manahatta. It’s people who have floated in from other parts of the country, often on their parents’ financial aid, and they are only dipping a toe into brooklyn every couple of months for some “edgy” event or a slice of Grimaldi’s pizza.
They’ll come, it’ll just take some time and cosmetic surgery on the immediate area. (Manicured sidewalks with benches and a couple of very ostentatious STARBUCKS signs.) It’s never gonna have that no-brainer feel of dumbo, as we didn’t have Walentas here to impose his OCD vision on every crack of every brick in every wall. But BAM has proven to be a very smart manipulator (de facto city planner, in lieu of any actual city planning to be seen from the, eh, city) of real estate, and I wouldn’t worry.
As far as the Oro is concerned, I think they have more ammenities. Plus: all those hot supermodel-looking chicks in their ads they promise will be living on your floor, swimming in your lane, etc.
Speaking of new condo developments, anyone know what’s going on with 475 Sterling Place? Anyone looked at the 2 bdr/2 bth units there?
I never really considered this building among my choices when I was searching couple months back. The 2bd/2ba units are too small. Granted this isn’t the only building with these anemic dimensions and that’s why those other buildings weren’t in contention either.
The 2bd/2ba should be in the 1300 sf & up. The units layout just made for really unusual layouts for your furniture. It didn’t work me.
4:29: If you mean StreetEasy, it only lists units sold by brokers. Because Clarett (Forte’s developer) does not list through a broker, its sales do not show up on StreetEasy, unless they are co-broked.
IT appears only few units are under contract with Forte according to EasyStreet. WHy is it not selling? How long as it been on the market?
Oro seems to be selling pretty well, at higher prices.
I did notice the maintenance fee on Forte is on high side.
Any thoughts?
Interesting note on the new home sales data released today:
“Regionally, the northeast is the least important part of the country for new home sales, but it is also the strongest. There were 65,000 new homes sold in that region last year, up 3 percent from 2006. But the other three regions were all down at least 26 percent, with the west (California, there you go) off the most at 32%.”
i can’t understand why anybody would think these are still over-priced. a 1,000 sf 2-br for $650,000 seems awfully reasonable. i’m not saying the bldg doesn’t have it’s drawbacks…. but i think that lower price reflects the drawbacks. it’s hard to find a real 2br for $650k in a full service bldg.
just compare to one hanson. the 1 and 1.5 brs currently listed are 620k, 750k, 830k, 835k, 1 M. and the 2 brs go from 889k to 1.75M …
of course the bldgs are different and hanson is a much higher-end bldg (but maybe in a less good, more crowded location.)
but even compared to something like the oro. which seems like a similar-type of bldg but in a worse location. 2br at the oro are 830k to 1 M.
650k seems pretty fair for a 2br at the forte.
Lived in Manhattan for awhile – in the low-rise west village, where I also had sun. Still, moved back to brownstone Brooklyn, where I liked it better (less noise, less car and bus exhaust, more space for the money.)
Not all brownstones are dark. Depends on (1) whether you have bay windows (they do bring in a lot of light from those 45-degree angled side windows; (2) how wide your street is; (3) how tall whatever is across the street is; and (4) how high floor you are on.
They all have two exposures (and some have three.) I’ve always lived on the side of the street where my living room faced south, because I like light in my living area more than my bedroom(s). And I like living high up, where you get lots of sun from both the north and south windows, if it isn’t blocked by tall buildings. Gardens are nice, but garden apartments are too dark for me.