NY Mag's Triple Assessment: Gretsch Duplex
60 Broadway, Apartment 5Q, Williamsburg, Brooklyn One-bedroom, two-bath, 1,755-square-foot condo. Asking Price: $1.25 million. Monthly Charges and taxes: $608. Broker: Christopher Mathieson and Jennifer Regenstreich, JC DeNiro & Associates. Is it possible to have too much space in New York? Our panelists were keen on this duplex in Williamsburg’s Gretsch Building, but it needs a…
60 Broadway, Apartment 5Q, Williamsburg, Brooklyn
One-bedroom, two-bath, 1,755-square-foot condo.
Asking Price: $1.25 million.
Monthly Charges and taxes: $608.
Broker: Christopher Mathieson and Jennifer Regenstreich, JC DeNiro & Associates.
Is it possible to have too much space in New York? Our panelists were keen on this duplex in Williamsburg’s Gretsch Building, but it needs a buyer willing to pay big bucks for what’s essentially a huge, luxe one-bedroom.
Patrice A. Mack, Prudential Douglas Elliman
The amenities are top-notch, and the space is great for entertaining, she says, but buyers could find two-bedroom apartments nearby for a similar price.
Her assessment: $1.1 million.
Highlyann Krasnow, The Developers Group
The double-height ceiling is pretty dramatic, and the finishes are spectacular, says Krasnow, who also enthused over the generous closets.
Her assessment: $1.05 million.
David Maundrell, Aptsandlofts.com
The Gretsch is a coveted building, allows Maundrell, but this wide-open space isn’t practical for family-oriented buyers. They’ll have to build out the loft, he says.
His assessment: $995,000.
Triple Assessment [NY Magazine – 3rd Item]
Curious, Gretsch owners where do you think prices will be in the future for studios, 1 bedrooms, and 2 bedrooms?
Hard to believe, but the JMZ is indeed fast and frequent, and you are able to connect with any line, which is pretty great. It is absolutely ideal for getting to the LES, Soho, Chinatown, Wall Street. 5 minutes tops. Many live in neighbourhoods that are serviced only by one line, making transfers inconvenient. The JMZ is great and hardly inconvenient! (We feel pretty good about our train here! We’ll take Marcy way over Borough Hall!)
Longtime-W: I see your point. Having moved from the midtown East, I had to take the 7 cross-town and switch to another line to get to work; so the transfer from the JMZ to the other lines is a wash for me.
Incidentally, a duplex of the same configuration is listed on Corcoran’s website for $1.14 million. There are also 3 other condos at the Gretsch available for sale on the same site — the flipping has begun!
http://tinyurl.com/8zm8a
i love that patrice mack of elliman thinks $1.25 million is too much for a one-bedroom in billyburg. here’s a one-bedroom she’s selling at 55 berry st for, um, $1,385,000. a much smaller one-bedroom. the listing claims 1,357 sq ft. it’s actually closer to 1,250. (look at the floorplan. do the math.)
http://www.elliman.com/Listing.aspx?ListingID=678323&SearchType=Broker_Current&BID=HKL
patrice isn’t listed on the link, but that’s her name and phone number in the ad for the building in the “spotlight on williamsburg” in sunday’s times.
BillBurger, I used to live in Wmsburg/Greenpoint near the L and have to do the transferring thing, usually at Union Square. I know the L is notoriously unreliable and I am not comparing it to the JMZ, but any line where you must transfer to get anywhere in Manhattan does not seem convenient to me. I personally like the option of a straight ride after the hell of the L… that’s why we bought and moved close to Borough Hall. We have nine different train lines (2,3,4,5,R,F,A,C,G — direct, no transfers!) all within a 4-block radius. THAT to me is (luxuriously) convenient! It all depends on your commute I think, if the JMZ works for you that is great. But I still wouldn’t call “extremely convenient.”
Why? Three trains that go in to Manhattan; can jump to the F at Essex, the 4,5,6 and the N,R at Canal and the 2,3 and the A, C at Fulton; all that within 5 stops from Marcy. And I never have to wait more than 5 mins for a train. I would say that is convenient. Curious to hear why you think otherwise.
The JMZ is convenient? I’m sorry but that is hilarious.
As a resident at the Gretsch, I have to say that it is at an extremely convenient location. One stop from Manhattan on the J/M/Z train and a great open view of Manhattan and the East river. We have had no problems with services either. The fit and finish of the Gretsch is top notch and an apartment of similar quality in Manhattan would cost at least 50% more. Having said that, I have to agree that the duplex above is overpriced it is only a 1 bedroom after all.
I agree I don’t get Williamsburg why would someone pay to live in a neighborhood with hardly any services and horrible transportation?