Set Speed Condo Report: Manhattan Park Condos
This week we step outside our comfort zone a bit and take a look at a McCarren Park development called the Manhattan Park Condos which are being marketed by aptsandlofts.com. Located at 297 Driggs Avenue, this project looks to have 14 units (two to a floor), two of which are in contract. From the website,…
This week we step outside our comfort zone a bit and take a look at a McCarren Park development called the Manhattan Park Condos which are being marketed by aptsandlofts.com. Located at 297 Driggs Avenue, this project looks to have 14 units (two to a floor), two of which are in contract. From the website, they look to be 1 and 2 bedrooms with outdoor spaces in most units. There’s not many financial details on the cost of the units other than the asking prices, which in our opinion is high. One bedrooms are asking $579,000 and up while two-bedroom units are anywhere from $715,000 to a whopping $995,000. From the floorplans, the one bedrooms look to be no more than 650 square feet and the two bedrooms no more than 800 square feet. Given our estimates, this suggests that prices are running at almost $900 per square foot.
Amenities include the usual stainless steel appliance suite, the ‘floating’ bathroom sink. Most units have glass curtains and the elevators open out onto the units. The condo is located within a good 8 block walk to the crowded L train at Bedford and a 2 block walk to the G train at Nassau. As anyone who goes to thedevelopersgroup.com website can see, there are numerous new condominium projects that have already sprouted up and are in the pipeline. This increased supply does not bode well for Manhattan Park’s high prices. In addition, the finger building next to Planet Thai off of Bedford and the huge ‘Edge’ project on Kent will add another few hundred units to the market.
Manhattan Park Condos [Aptsandlofts.com] GMAP
Listings [Manhattan Park Condos]
Every Thursday, ltjbukem, whose own blog Set Speed scrutinizes the progress and quality of new developments in the area we know as Brownstone Brooklyn, pens a guest post about goings-on in the condo market with an emphasis on new projects.
Casa, I’m looking to buy into the Aqua Building across the park developed by the same developer as the MPC. Can you please tell us more about the issues you are running into? Is the apt you are speaking of at the MPC building? How is the quality of construction there? Did you receive the CofO yet and if not what is holding the building up? ANy details would be greatly appreciated.
Thanks many!
I’d like to mention that I’ve also had terrible dealing with Apts and Lofts. Currently we are 2 years past the date they told us we could move in. We’ve had no help from them, no kind of quality service. Mr. Maundrell that includes our dealings directly with you. You and your staff don’t answer our calls, our emails – but the worst thing is you don’t give us the respect we deserve as clients. If I had my way, I’d run an ad in every newspaper explaining how terrible our experience has been dealing with you and your socalled ‘professional staff’.
Whats up with this building? Have the costs moved around yet? It seems like stretch to pay $900+ psf for this place when so much inventory is coming into the park neighborhood. Has anyone been in for a visit lately?
To all you saying that the aptsandlofts.com broker told you to “dump your broker” to get a better deal sounds awfully suspicious. First of all what type of buyer goes to an open house without their broker and expects the selling broker to co-broke. Maybe you should dump your broker. Why should you expect that the selling broker show you a property and then cut your broker in just because he or she is working with you? What kind of half ass broker do you have that wont even go with you to an open house? Are we to believe that you are so loyal to the broker you are working with? If you really could get a better deal you’re telling me you would not dump a broker to save yourself some money. in this business? Please.
the building is actually 7 floors — 2 apartments per floor…
I went to the open house on Sunday. Here’s what I liked: the building is not a skyscraper; in the photo you can’t really tell the scale of this building; in person it’s not overpowering at all. In fact, it’s just 14 floors, and there’s only 2 apartments on each floor, which makes it very intimate. The td here is that a private elevator opens up into your apartment, which is sweeeeeeeeeet (love that!). Manhattan can have its skyscrapers; I’m pro-new development in Brooklyn if they are reasonably scaled and aesthetically pleasing; This satisfies both. I don’t know too much about Apts and Lofts; this was my first experience with them, which was pretty solid, nothing to boast, but nothing to slam either.
Anyway, if you favor small-scale new developments, then it’s worth taking a look at this one. Just keep in mind that the park is being flanked with new buildings, so anticipate change and more people down the line, which may or may not be to your liking.
And Anonymous what was the name of the broker? And your name, Anonymous?
I also went to this development, told the agent there that I am working with a broker, and was explicitly told that I could get a better deal by dumping my broker and dealing directly with the aptsandlofts agent. I was taken aback by this comment, and what i feel is unethical behavior, especially since the broker is my friend and has been showing me places for over two months. I did not have this issue visiting any other open houses for new developments. my broker did tell me that this is par for the course with aptsandlofts. Also, the units are waaaaaay overpriced, so i moved on anyway.
you go Maundrell! good job!