The Isabella Launches Sales
How did we miss this! The once-dead Isabella Condos got a breath of fresh air in August with news of a $22.6 million loan to complete construction and relaunch the sales effort at the 63-unit Clinton Hill building. The first 17 units showed up on StreetEasy at the end of of September (and, more recently,…
How did we miss this! The once-dead Isabella Condos got a breath of fresh air in August with news of a $22.6 million loan to complete construction and relaunch the sales effort at the 63-unit Clinton Hill building. The first 17 units showed up on StreetEasy at the end of of September (and, more recently, on the Brownstoner marketplace.) A 753-square-foot one-bedroom is asking $365,000, down from $485,000 back in 2008. A three-bedroom that was $980,000 in the first go-round is now $795,000. Those are some significant cuts. Are they enough to pique your interest?
Isabella Condos Back From the Dead [Brownstoner]
Checking In On The Isabella Condos [Brownstoner]
Sales Begin at the Isabella [Brownstoner] GMAP
Hard to believe they were going to try to charge $485K for a Clinton Hill 1br–that’s overpriced even by Park Slope/Brooklyn Heights standards. They look nice enough, though, and they are lower in price than similar developments on the other side of Atlantic, e.g. the new developments on St. Marks (272 and 324) and on Classon between St. Johns and Lincoln, though the monthlies are higher here.
Would like to have more people on the block, so wish them well. I took a look at the place a while back and it looks nice (though a bit soulless) inside – good sized closets, well laid out kitchen, etc. And what other buildings often do to keep the monthly payments low is have assessments for major work rather than build up a large cash reserve for the what if – they might be planning on the same, or once they actually have residents and a board, they might end up raising the CCs.
DIBS, at prices now, folks will be ~40 buying their house so to brag about no mortgage at 70 is really not worth bragging about. the high cc and tax of these condos are very valid but different angle vs. the no mortgage angle.
How did it get the name “Isabella?”
Filling up that section of Washington would be a boon to the businesses on Fulton.
Wasder, would love to see that glass tower opposite Hot Bird get filled out soon. I would rent there if rents are decent.
Doiesn’t matter, m4l…at some point, there will be no mortgage and only taxes, etc.
With places like these, the adjusted, unabated taxes will be higher than renting a place!!!!! Yes, like $12-20,000 a year.
dibs, part time door man, virtual door man rest of the time.
This would be a good deal even to BHO. Price is less than everything else around.
DIBS, unless folks are buying their houses with 15 yr mortgages and are not that old, paying off the mortgage is not really something folks can realistically look to enjoy for a meaningful period. ie if one is 35 or holder and takes out a 30 yr note, wont enjoy no mortgage till 65.