Prices Cut on Most Remaining One Hanson Units
Not exactly a closeout sale, but almost: A couple days ago, the asking prices were dropped on nearly all of One Hanson’s unsold units listed on StreetEasy. The scope of the cuts? One of the biggest was a 23 percent price reduction on a 1,500-sf, 2-bed, which went from $1,222,431 to $945,000. There were also…
Not exactly a closeout sale, but almost: A couple days ago, the asking prices were dropped on nearly all of One Hanson’s unsold units listed on StreetEasy. The scope of the cuts? One of the biggest was a 23 percent price reduction on a 1,500-sf, 2-bed, which went from $1,222,431 to $945,000. There were also a bunch of decently sized reductions on smaller, less-pricey units, like this 1,000-sf 2-bed, which went from $838,000 to $675,000. Although there have been minor cuts on askings in the building in the past, this is the first time most units have seen double-digit reductions.
One Hanson Place Listings [StreetEasy] GMAP
One Hanson Remainders Go Rental [Brownstoner]
tdeezy-
that is quite a reasonable world view.
prepare to be mauled!
“I have zero pity for anyone who bought a home during the real estate Niagara of this decade. The following years will be a wake up call to all those who were financially irresponsible.”
What is your problem? I am a person who bought not at the top of the market but pretty close. But I bought what I could afford based on what was available at the time. I told the truth on my mortgage applications, I pay my mortgage on time and I did not overextend myself. Although admittedly I could probably buy something nicer now then I could then how could one have know that? Really, how you can stand there all glorified with your 20/20 HINDSIGHT knowledge because you didn’t buy? It’s one thing to argue the merits of the market as it is now, now that the financial collapse has happened and some transparency is now known about all the trickery going on behind closed doors which caused the inflated prices. Don’t think the market has seen the bottom? Fine, understandable, but don’t insult everyone who was trying to gain a leg up in the real estate world before it was obvious what a joke “deregulated banking” is.
“New York has never worked like that”
And prices never tripled over the course of a decade. At least in the timeframe you’re using. Half off is reasonable. I’m in the middle class – affordable to me is the same as reasonable. Nothing you say will prevent this inevitable price collapse. Premier condo distressed. It’s over!
***Bid half off peak comps***
For what it’s worth, these are my favorite condos in all of Brooklyn. The historic landmark, the convenient location, the lofty spaces, the views, the quality of construction and those killa dilla kitchen/bar/livingroom layouts. But one thing is missing: a viable parking option. Parking under Pathmark is your best bet but you don’t have the security (see ‘P2’?) and convenience of valet. If things get rough, you could get ‘got’ down there. When Toren gets built and available for viewing, it might take the cake. Oro just doesn’t do it for me although their units tend to be spacious.
***Bid half off peak comps***
Ha! Story of my life.
maly-
that is quite a reasonable world view.
prepare to be mauled!
“there are apt investments that were made in the past couple of years that were smarter for all the usual reasons – location, psf pricing, potential for growth, schools, size of apt (family sized apts always do better) whatever.”
You don’t understand. All of that was already factored in before liar loans. Park Slope was already more expensive than Fort Greene. A 3BR/2BA was already more expensive than a 2BR/2BA. Everything tripled in value (+200%) and will fall by a roughly common percentage. Nowhere is immune.
“the future is not a done deal. if you buy and hold, the current downturn may not even matter”
Now why you gotta go and say something like that? Now everybody has to be bored with my repeated take on the concept of ‘holding on’…
The likelihood is a done deal. This is a once-in-a-lifetime boom/bust. The credit/housing giveaway was unprecedented in modern American history. You will not see 2009 prices again in 2009 dollars. Nominally, yes, but a loaf of bread will then be $100.
Do they make non-alcholic wine?
***Bid half off peak comps***
I thought the units were reasonably sized. The main issue is that the large columns on the outer walls impinge on the space somewhat and make furnitur positioning more difficult. I loved the feel of the building.
I am just trying to tell people there are risks buying those condos. I am not a lawyer and I am not sure the consequences of buying condo when the sponsor has gone bankrupt.
I am not trying to tell people not to buy condos now since the price is going to continue to go down.