Price Cuts at the Satori
The Japanese-inspired Boerum Hill condo Satori, at 340 Bond, is hopping on the price chop bandwagon. According to The Developers Group, asking prices have dropped 10 to 20 percent throughout the building. The model apartment, C-2A, went from $585,000 to $499,000. C2-C, a studio, went from $470,000 to $385,000. Enough to pique your interest out…
The Japanese-inspired Boerum Hill condo Satori, at 340 Bond, is hopping on the price chop bandwagon. According to The Developers Group, asking prices have dropped 10 to 20 percent throughout the building. The model apartment, C-2A, went from $585,000 to $499,000. C2-C, a studio, went from $470,000 to $385,000. Enough to pique your interest out there? Looks from their Web site that not a one has sold.
I guess I sound like a broken record, but I still don’t understand why developers expect people to pay 800 grand for a 2 BR in a building that is located in the middle of nowhere, next to a polluted canal. The closest … anything … is two avenue blocks away on Smith St. I’m not saying that’s an insurmountable hike, but for 800 large, there are better options available.
Drop the price on the 2BRs to like $400k, and I’d start getting interested.
Deflation=lower rents too
Wow, if you check the pics on their site (I looked at a duplex, one of the cheaper ones)… the stairs are so steep, it looks like a ladder. I don’t know how that could be cleared by the building dept (unless “angle of stairs” isn’t something that’s regulated).
I could just see me falling down those things in the middle of the night.
*”actual monthly rental prices”
I can see I can’t type today either…
“obviously the rents are going to be ridiculously high as well.”
Why do you think that? Empty apartments generate no revenue.
Even if the actual month rent prices hold up, fees will get dropped or paid by owner, and there will be tons of “1st month free!” options which cuts the cost of 1 year rentals pretty significantly.
i was digging through craigslist today and even tho its November everything seemed kinda cheap in the park slope area.
this for example looked like it should be more. http://newyork.craigslist.org/brk/fee/926108329.html
as this satori building is kinda cool looking but I dont know how far that will get them.
it’s not going to be fun to be a renter when the only crap available for rent are these former super duper expensive condos. obviously the rents are going to be ridiculously high as well. im almost 32 and if in a few years im forced to having to go back to living like a psychotic version of the real world, ill just die.
*rob*
It is going to be fun to be a renter in the next few years so much to chose from. And not your usual lame rental kitchens either.
Ohio gozaimus.
Whenever anyone designs a building in Japanese style it surely is the top of a bubble.