Wide Price Per Square Foot Range at OPP
Corcoran released the first ten apartments at On Prospect Park yesterday. While $1,200 a foot had been the number that had been bandied about for months, it was interesting to see some listings come in for far less. In fact this one bedroom is only priced at $900 a foot and it’s even got two…
Corcoran released the first ten apartments at On Prospect Park yesterday. While $1,200 a foot had been the number that had been bandied about for months, it was interesting to see some listings come in for far less. In fact this one bedroom is only priced at $900 a foot and it’s even got two bathrooms. On the other hand, some of the two bedrooms (like this one, for example) are upward of $1,400 a foot. We suspect that outdoor space and views are the swing factors.
Floorplan Porn: Meier’s On Prospect Park [Curbed]
On Prospect Park Listings [Corcoran]
Photo by Alex Terzich
There’s one obvious point that’s not being made here:
It takes less time to get to work on Wall street from GAP than it does from midtown, and it’s a hell of a lot less time than from the upper eastside or the upper westside. How long do you think it will take people to figure this out? And while it might be our little secret that Prospect Park is better and way more useable than central park, it can’t be kept secret that it is closer to work for downtown bankers. They’re probably screaming that in the Tribeca sales office.
And in response to those people who say GAP isn’t as convenient as Manhattan in terms of corner stores, etc… I say that with those maintenance prices as high as they are, they probably have refridgerators in the lobby for fresh-direct deliveries. Plus, not even a brownstoner cares if it’s three blocks to a corner store to get milk if they have the farmer’s market downstairs.
Sorry everybody, but if I had the money, I’d love to have one of these apartments. Is it worth the money? I don’t know—you’d have to have the money to even ask yourself. As for whether the people that do have the money will want one of these apartments? I think they ought to, but who knows? Maybe the prestige of living in Manhattan trumps every other advantage.
Well you know the kind of people who are always willing to overpay for real estate – movie stars. Just look at the sprawling money pits they buy out in California. So I wonder which celebrities will move to Brooklyn now! The Meier buildings in Manhattan sold their units to celebrities, including Nicole Kidman.
For all of you that have faith in the branding power of starchitects like Meier, you might want to take a look at this Journal piece from April. Not only were apartments in a number of his (and a number of other high profile architect’s ) buildings not selling but developers were inflating sales figures try to pressure buyers.
http://www.realestatejournal.com/buysell/markettrends/20060403-mcmullen.html
Perhaps over priced is just plain overpriced no matter who scratched out the design.
Anybody else notice that if you stand in the middle of the meadow in Prospect Park the only building you can see is this one.
I’m sure there are lots of people pissed off!
I see: The 1 mill 1BR will be 2mill in 2011 – the latest!!
some of these units were saved for friends/family and are sold already. word is that move in dates will be in 2008, buying from prospectus only.
Anybody know if any of these units have actually been sold? And to who? Users or speculators?? People with small beds?
I think these apts. look gorgeous. Yes, I love brownstones but… I also love new, great construction, no muss no fuss, no worrying about re-doing anything. Pricey yeah, but re-sale on these should be great too. Anyone been in yet?
It figures that this thread would turn into a Brooklyn-vs-Manhattan haggle. I am somewhat concerned about the market in Condos in general. But, time will tell what the outcome will be here not baseless predictions from the usual armchair experts who contribute to this constant garble and hot air topic.