Set Speed Condo Report: 163 Taaffe Place
This week’s condo report brings us to the Pratt University area in Clinton Hill. Located at 163 Taaffe Place between Myrtle and Willoughby, this 4 unit condo conversion marketed by Prudential Douglas Elliman is quite ambitious in its asking prices of $795,000 for units with 2 bedrooms, 2 baths and a den. Common charges are…
This week’s condo report brings us to the Pratt University area in Clinton Hill. Located at 163 Taaffe Place between Myrtle and Willoughby, this 4 unit condo conversion marketed by Prudential Douglas Elliman is quite ambitious in its asking prices of $795,000 for units with 2 bedrooms, 2 baths and a den. Common charges are about $217 for monthly maintenance and $121 for real estate taxes. Included are maple kitchens, stainless steel appliances, marble baths and high ceilings. The listings on the site say that the apartments were “designed and built by a professional architect and entrepreneur. No expenses barred.” The apartments are 1,174 square feet.
Nearby residential developments include 970 Kent, the Chocolate Factory and the Spencer. None of the units in those buildings sold for more than $600,000, although the recently advertised penthouse units at 970 Kent are being sold for $760,000. In fact, a recent resale of a 1,000-square-foot unit at The Kent is asking only $449,000. Transportation options include making the 3 block walk to the Classon Ave G train or taking a bus down Myrtle to Metrotech. With this development lacking a lot of other amenities that are usually associated with an area in which condos are selling for $800,000, James Rigney, the Elliman broker, has his work cut out for him.
163 Taaffe Place [Prudential Douglas Elliman] GMAP
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.
Understood.
But remember, a lot of people live and work in brooklyn (within walking distance) or they drive to work. We are not all dependent on public transportation.
I’ve caught the G train at Classon before and it sucks (big-time). But the G train experience at Clinton-Washington is totally different. So I guess that’s why I don’t have a problem with it.
I respect your opinion but when you don’t have an alternative you probably wouldn’t consider it pointless. however, when you have to go to queens to get to manhattan thats pretty pointless to me esepcially when the subway is supposed to be efficient. I should also point out that you said “depending on where you work in manhattan” but if you don’t work in one of those chosen areas (like e or w 50s) where you can transfer straight into manhattan on the E or F its not as good of a deal.
actually, I wasn’t saying I’d rather move to Windsor Terrace because I’m implying that its a superior neighborhood. I’m only saying purchasing a house is a major investment and considering the time it takes for mass transit to change or improve you should assume that if you buy a house near shady transit you’ll have to deal with that for a considerable amount of time. I know people sometime trade location for price or location of space but I think transit is more important than all those things especially in a commuter city like NY. however, since its inevitable that some places will have better accessibility than others. people often settle for those areas and I think the price should reflect that and clearly that’s not the case here. this price says “you get to take the G” as if thats a privilege not “damn, you have to take the G” which is what it should say.
Lot of us live near the G train and we don’t consider it ‘pointless’. Depending on where you work in midtown, it could be a 20-30 min commute to midtown. Of course you would have to get off at LIC and transfer to the E or F train. I rode it everyday when I used to work in midtown and it served me fine. To each his own.
masters of subtleties and hierarchies…they don’t live in brooklyn…period…I can see that this is going to degenerate into another one of those ‘real estate food chain hierarchy’ discussion thread.
I wouldn’t pay to live in Spencer Court either but why don’t we let the market decide this one for itself. Believe it or not, a lot of moneyed hipsters prefer living in a neighborhood with rough edges. Consider the Toy Loft Factory on Flatbush.
“I’d ride that train if I were you.” you’re not me. the G train is pointless it essentially does nothing for you if you don’t live in brooklyn and work in queens or vice versa. its slow as hell and it sucks, I despise the G train its a waste of money. they should either extend it somewhere useful or do away with it all together. you might as well get on the bus. you’re going to get on the G at Classon, wait forever because its slow as molasses, run to the middle of the platform because its like the short yellow bus of subways so there aren’t as many cars (because its useless and not as many people ride it) just to travel 3 whole stops just to get off and get on a train that’s worth the time and effort. all for over 700k? no thanks, I’ll take my money to windsor terrace or somewhere over there, at least I can get on the B/Q and save a little change.
The New Yorkers who only take taxis don’t live on Taaffe Place, I think it’s safe to assume.
ltjbukem
Some New Yorkers won’t even ride the subway. They only take taxis. Some of us are willing to work with multiple train transfers. The G train is pretty reliable during peak hours. I must admit that it sucks after 8-9pm. But the same goes for most subway lines.
I think you’re right though; these prices might be a bit ahead of their time. But then again, I remember laughing at the 2 bedrooms in Spencer Court that were selling for $450K a couple years back when they were first introduced. I guess it’s all relative. I can see someone who works at Steiner Studio or Metrotech who wants to walk to work buying one of these.
Don’t sleep on the G train. It services Fort Greene, Clinton Hills, parts of Bed Stuy that is now being referred to as Williamsburg, Greenpoint and LIC (the part that is part experiencing a major condo boom). Seems to me like the G train runs through neighborhoods that are experiencing major transformation. I’d ride that train if I were you.