Sales on the Fringe
We missed this when it ran late last week, but the NY Post posted some updates on how condo sales are progressing at some developments on the fringe of popular neighborhoods in Brooklyn. As Roberta Benzilio of Halstead Properties says, “It used to be that people sought a certain neighborhood. But now… people will go…
We missed this when it ran late last week, but the NY Post posted some updates on how condo sales are progressing at some developments on the fringe of popular neighborhoods in Brooklyn. As Roberta Benzilio of Halstead Properties says, “It used to be that people sought a certain neighborhood. But now… people will go where the value is. Case in point: at 500 4th Avenue, which “considers itself Park Slope,” 80 of the 156 units are under contract or sold and 60 units have been occupied. Average prices there have come out around $700 per square foot. One Hanson Place, despite its location across from the Atlantic Center Mall and the Atlantic Yards site, is down to its last eight condos. And Solis, at 174 Clermont, sold eight of its nine condo units in five weeks, at an average price of $650 per square foot. And that is six blocks away from the G train!
If you want to see how neighborhoods change, google the following: “Dennis Hamill, the myth of Park Slope”. It will bring up an article that he wrote in a 1978 edition of New York magazine. Check out the photos in that article, particularly those of Carroll St. between 4th and 5th Ave. “Berlin after the war”, as we used to say.
Well, technically I agree that west side of 4th ave is not Park Slope, but I would love to be as close to being a billionaire as that building is to the slope.
Well PHed:
Proof that the BoA map was made by someone who does not live in Brooklyn or NYC for that matter. Adelphi refers to the name of the 11238 post office.
froth is back. $700 psf on 4th ave is considered cheap – that’s froth baby.
Antidope;
How are you? Haven’t bumped into you on Brownstoner in a while.
Haven’t seen that. Will have to check it out.
lol stargazer. way to stick to yer guns as the ship sinks.
benson, see 87 garfield pl? developer purchased for 1.85 in early ’08 and “flipped” it. #3 floorthru sold for 860K, #2 floorthru sold for 916K and bottom duplex was listed for north of $1.5 mio. now in contract.
face value there is a lot of sq ftage, but most looks to be sub-grade so ths looks like an extremely bullish sale for the ‘hood.
i walked by and thought it was very aggressive pricing. the day before it went into contract.
i dare say the risk-taking developer will get out with shirt and more.
FSRG;
Please don’t apply logic here. Babs is simply trying to win today’s Brownstoner Moral Purity award, a prize coveted by some of the frownstoners.
some of those map lines are landmarked historic districts – and they have defined boundaries. So some blocks will not be included.
But the neighborhoods themselves are more fluid.
re: babs @ 11:14:
“1 Hanson Pl. (and all of Fort Greene, Clinton Hill, etc.). Depends on your defintion of “fringe.” Very often the mere sight of people of different skin color from that of a buyer = fringe. I find it’s a code word, like a “safe” neighborhood.”
Holy racial paranoia batman!!!!
If Park Slope ENDS at 4th Ave then being on 4th Ave by definition makes it “fringe” [defined as: an outer edge; margin; periphery]
If Park Slope ends at Flatbush, Atlantic and 4th, and Ft Green ends at the same intersection: 1 Hanson place being located there would automatically = fringe.
In short in every context being discussed here and in the NY Post, it has nothing to do with “skin color” or race at all, simply geography.