Will Fourth Avenue's Crest Clean Up?
According to the marketers behind Fourth Avenue’s Crest, the new condo is rising within the rich ambience and palpable energy of Park Slope. (If McDonald’s, truckers and a taxi depot scream palpable energy, they’re right on target.) Anyhoo, the Boymelgreen-Katan development is certainly charging Slope Lite prices: A scan of current listings shows the average…
According to the marketers behind Fourth Avenue’s Crest, the new condo is rising within the rich ambience and palpable energy of Park Slope. (If McDonald’s, truckers and a taxi depot scream palpable energy, they’re right on target.) Anyhoo, the Boymelgreen-Katan development is certainly charging Slope Lite prices: A scan of current listings shows the average unit is going for around $760 per square foot, with a couple topping $900 a foot. The layouts are a mix of two-bedroom, two-baths and one-bedroom, one-baths. We’re puzzled, since the building doesn’t look like anything special—its most notable amenities seem to be an indoor garage and washer/dryers in all units. So far 20 units have gone into contract, suggesting there is an appetite even for mediocrity at this price point and that so-called Fantastic 4th has come into its own. Are you buying it?
Crest Listings [Corcoran] GMAP
The Crest at 302 Second Street [StreetEasy]
Fantastic 4th? Eh, We’ll See [Brownstoner]
4th Avenue is Park Slope’s western border so the east side of 4th Ave is in Park Slope and the west side of 4th Ave is in Gowanus.
I am amazed and delighted by all the changes on 4th Ave. I live in PS and couldn’t be happier that the “rough edge” of the neighborhood continues to be pushed westward.
First 5th Ave was a frontier area, now 4th Ave is getting developed and between Whole Foods and the other developments on 3rd Ave, it won’t be long before PS meets up with Carroll Gardens in some parts.
Now if we could only get some trees planted on 4th Ave in the next 10 years (and get rid of the taxi depot next to Le Bleu).
When did 4th Ave. become part of Park Slope? I thought it was part of Gowanus.
Most of 4th ave and south slope are seeing price increases – I think 4th ave is definatley on the way up – more restraunts, shops, bars and the like are on the way also.
They are ridiculously small, but then that allows them within reach of a price point that yuppies can get 80% mortgages to hit.
When they grow out of their 800 sq ft 1 bedders and want to move, they may find they didn’t make anything on them and in fact lost due to transaction costs.
I have been to many open houses for new developments in park slope over the past two years or so. This was one of the only places I’ve seen where the floor plans and fixtures look like they had any thought behind them at all. The prices were also reasonable. I’m not surprised that these are selling.
The model unit didn’t make you feel like they built it on the cheap or like they were trying to pull one over on you somehow. Very different feeling than most of the other new buidings. Sometimes that’s all you have to go on with new construction.
For all those about to jump on me, I am not a broker or involved with this building in any way. I do think that most of the new buildings are junk. This one felt like an exception to me.
These are very orinary and ridiculously overpriced. It is bldgs like this that will suffer most in the real estate correction. I am not too sure that having 20 units in contract after being on the matket for about 4 mths is really impressive.
Fourth Avenue’s turned the corner, haters. People out there will pay top dollar not to be in certain other neighborhoods. (Oh, waaaah! Why are people buying there? Our brownstones are so much prettier!) Kachingo kachingo kachingo!
Wow..looks like they just had another price increase.
Hi,
I am a contract holder.
I have set up a group for contract holders at Crest Park Slope, 302 Second St. Please email me at Yunghi@gmail.com to share information on closing and any new developments.
Thanks
Y