Checking In On Atlantic Terrace
Atlantic Terrace launched 20 market-rate units at 212 South Oxford Street in October after finding residents for the other 59 affordable units. There are residents currently lined up for every affordable unit, with 29 of the 59 of them actually in contract. We’ve also been told by the 5th Avenue Committee that the C of…
Atlantic Terrace launched 20 market-rate units at 212 South Oxford Street in October after finding residents for the other 59 affordable units. There are residents currently lined up for every affordable unit, with 29 of the 59 of them actually in contract. We’ve also been told by the 5th Avenue Committee that the C of O is expected any day, and closings should happen in January. (Once the C of O comes through, the parking garage there will also open up.) The retail space is still available for lease. And as for those market-rate units, four are in contract or have accepted offers. Those are listed through Corcoran, with prices ranging from $385,000 to $1,095,000.
Launch at Atlantic Terrace [Brownstoner] GMAP
I agree with zinka, I used to live 2 buildings away from this on S. oxford, it’s horrible.
I don’t think the renderings on the Corcoran site do much justice, has anyone been to one of their open houses?
Bad location near Atlantic traffic, mall congestion, future Yards congestion, crazy overpriced, no reason to buy into a 75% subsidized building unless you’re getting a deal.
In general it actually looks better in person (I pass by it every day) except for those stupid blue metal panels which just look silly and out of place. It will be nice to have some active retail frontage and another parking garage option nearby though….
have to say buyers today are not as discriminant as we expect – lots of stuff are still selling at so so bldgs and selling at high prices.
price, looks aside, this location is iffy – crazy Atlantic traffic, crazy AY constructions,… that’s all fine if the price reflects that but not so when price implies better location, situation,…
quote:
the maint is suprisingly so high. Anyone know why?
maybe cuz of the subsidized units? shrug. i mean i know these units arent going to deadbeats or even moderately poor people, but i was going to be a million dollar condo there’s no way in HELL i’d buy one in a building where 75% of the units are subsidized. how on earth your property ever appreciate in value?
*rob*
As far as the look goes, I like modern buildings and I think I can kind of see what they were trying to do. They problem is that they failed, and this does look quite ugly.
I think some people would have a problem paying market rate in a building that is 75% affordable.
With the relativity low price, high maintenance, location, and affordable component, these unit will probably sell close to those prices, but it may take a while.
ron is right — the maint is suprisingly so high. Anyone know why? No tax breaks available?
The maint is too damn high.
woaw!
East Berlin public housing circa 1979.