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.
oh, sweet. Didn’t realize they turfed it. My gawd it needed it.! I just remember giant tornado sized clouds of dust.
Luckly the soccer field was converted to turf not to long ago…
The fridge is half the size of the kitchen!!!
“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.”
Not to mention what’s going on on another side of McCarren Park, on Bayard. We used to live right near there and happened by the other day on errands. A huge warehouse building is being gutted (jealous, 10 years ago I thougt it would be awesome to own and gutt that sucker!) along with another ugly looking condo thingy being built right next door.
So there shall be a major glut of apts around the park. I hope they enjoy dusty summer days. The soccer field was always a bounty of tasry, eye stinging airgrit.
The rendering here is pretty misleading. The building “feels” much taller, and there is another building going up right next to it, no?
That said, I am liking this building more and more. They should finish the facade, though – they’ve had half the wood panels up for ages now, with gaping green holes elsewhere.
At least from this tower, the views should be pretty nice – you have the park to the southwest, which means you’ll never lose your light, and the spate of new buildings around the park and to the north and east means you’ll not be looking at the roofs of low-rise manufacturing buildings. on the other hand, you’ll always have Greenpoint and the BQE.
As for the prices, I can’t say. But the new developments noted above and in the original post are nothing compared to what’s likely to come on line as the result of rezoning. Remember the City’s esitmate just within the rezoning area was something on the order of 7,400 housing units (!). (This project is right on the edge of the rezoning area.)
I didn’t realize that new construction buildings have negotiable prices. How negotiable do they tend to be?
i kind of like it. the top floors must have killer views. a lot of dough though.
No unit faces east only, the front of the building is on Manhattan Ave., so every floor has 2 units that face the BQE and the park, if you take a look at the building and you know the location you will understand how.
The building happens to be pretty nice, and the inside looks a little over the top, especially as the site boasts that the renowned architect Andres Escobar has designed the inside, I wonder if the developer will get his money back here.
OK, I gotta comment, then! I just moved out of this hood, and the entire time it was being built, it looked to me like it was tipping over. Passed it recently and saw that it still looks crooked in its near-finished state. So either the Enid’s building is tipping, or it is. Or it’s some crazy optical illusion.
In any case, I bet those 2-bedrooms facing east have a DOPE view of the BQE!