Set Speed Condo Report: Boerum Heights
A new condominium complex is being built less than two blocks from the Atlantic Yards project. The building faces out onto Flatbush Avenue if you have a unit facing northeast or the back of Atlantic Avenue if you’re facing southeast. Located at 556 State Street, this is only houses away from the 560 State Street…
A new condominium complex is being built less than two blocks from the Atlantic Yards project. The building faces out onto Flatbush Avenue if you have a unit facing northeast or the back of Atlantic Avenue if you’re facing southeast. Located at 556 State Street, this is only houses away from the 560 State Street project that was being sold in the past year. The street contains a mix of brownstones and some post-war apartments. The sales center is located at 563 Atlantic Avenue. Boasting a large number of units, the apartments are a mix of 2 BR/1 BA, 2 BR/2 BA, and larger 3 bedroom and 4 bedroom units. Prices range from $660K for 975 square feet 2 bedroom, 1 bath units to $973K for 1,387 square feet 3 bedroom, 2 bath units. The largest unit, at 1,487 square feet costs $1.1MM. Common charges range from $175 to $325 and RE taxes from $49 to $91 a month, which is relatively affordable.
The residences feature the usual granite countertops, stainless steel GE Profile appliances, 9-foot ceilings, deeded parking and storage units. This general area has a large supply of condominiums and I’m not sure whether there is demand for condos at this price point. (After all, you can get a 3 bedroom, 2 bath for $1.11MM at J Condo in Dumbo.) Current traffic flows are not favorable. The imminent Atlantic Yards project also does not bode well for those who do not like traffic close to where they live.
The broker and marketer for this project is Boerum Heights Realty Associates, a little-known outfit based at 6833 Shore Road in Brooklyn. Boasting a slick website, it is easy to navigate between info on the surrounding neighborhood, the amenities in the building to floor plans and pricing. Incidentally, the site has nary a mention of the possibility of the Atlantic Yards. A Google search revealed that the design of the building is by Bricolage Designs and consists of 72 units.
Floor Plans [Boerum Heights] 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.
Anon 1/17 8:40am:
For the record, I didn’t mention (nor did I imply) anything specific about J Condo in my post. I had described Dumbo: “the one caveat being in Dumbo you have to walk a few blocks to the F train.”
J Condo is gorgeous, actually. You should check out their sales center. And yes, it is (even less than) one block to the F train.
The J Condo is one block from the F train at York Street, not a few blocks as mentioned by Chuck.
the buildings site noted 7 one bedroom apts, look thru their site and they were for a little over 400,000
Yo, bro, check out da Bronx! There be some flipp’n deals going down out there, G.
BrownBomber, maybe you didn’t see the part of my post where I said I can’t afford a 2 bedroom – even in brooklyn. I’m serious. I have 90k for a downpayment, but still don’t see any new 1 bedrooms i can afford here even with that. of course i don’t want to live in the boondox for safety reasons(single girl living alone without a car) and at this point in my life i want the amenities of a new apartment. finding that for under 400k seems out of the question.
You can get a 2 bed room in Brooklyn for the price of a 1 bedroom in Manhattan. Count your blessings and hit the bid! 😉
where are all the 1-bedroom condos? i’m a first time buyer and i can’t afford a 2-bedroom, but that’s all i see. i’m sick of being overlooked.
not a bad looking building
Next door to this place is condo conversion and across Atlantic Avenue is another currently marketed I think by Corcoran. Both low-rise and not great many apts. But don’t forget the Williamsburgh savings bank building conversion to residential- which is major high-rise and will add many new residents across Flatbush Avenue. Also couple block west significant new buildings going up or proposed for Schermerhorn/Bond blocks.