Forte Studios on the Market
The Forte Condo is open for business. Though far from complete, the Ashland Place tower is more than ready to take deposit checks, as evidenced by the temporary sales office on Fulton Street. The B-line apartments (above) are the first to come on the market, though there seems to be a lack of consensus between…
The Forte Condo is open for business. Though far from complete, the Ashland Place tower is more than ready to take deposit checks, as evidenced by the temporary sales office on Fulton Street. The B-line apartments (above) are the first to come on the market, though there seems to be a lack of consensus between Corcoran and the developer, Clarett Group, on whether the space is actually a one bedroom or a studio loft. But hey, if you’re willing to shell out the $500,000 asking price for the 707-square-foot, fourth-floor space, we bet they’ll let you call it whatever the hell you want.
230 Ashland Place, Apt. 4B [NY Times] GMAP
Forte’s Law: Doubling Height Every Month [Brownstoner]
From Cheesecake to Condos on Fulton [Brownstoner]
Forte Rising [Set Speed]
I’ve set up a Google group for those interested in the Forte (people in contract, etc.). Please join: http://groups.google.com/group/fortecondo
You can continue to sing your song, but soon these insane prices will go down as many of you will be left with empty spaces. It was a nice idea at the time, but times are changing. Lower your prices. Those who think things cannot get worst are fools.
The above was posted by ForteCondo.com
I would like to clear up a number of points and questions that were mentioned above:
“Though there seems to be a lack of consensus between Corcoran and the developer…”
We welcome Corcoran and all brokers to our development, but they are not the on-site sales staff.
In response to: Anonymous at February 1, 2007 10:38 AM:
We are right next to the BAM Harvey Theater in the BAM Cultural District.
In response to: Anonymous at February 1, 2007 11:02 AM
Anonymous at February 1, 2007 12:32 PM
justplainstoner at February 1, 2007 1:44 PM:
Why buy now? Now is the best time to pick the view in the apartment you desire. View options include: Brooklyn, NYC Skyline, treetop, Downtown Brooklyn and even the Statue of Liberty and the Harbor. I have heard that true Brooklynites don’t like to buy off of plans. The ‘wait and see’ attitude may work for some, though it is a chance I would not be willing to take considering Forté’s great neighborhood and the time sensitive opportunity to select an apartment with a terrific view. Ask the people buying in Dumbo if they think they should have waited. Would they have paid more or less for their view/apartment and would their current apartment have been available?
Supply:
I see many units coming on the market (on paper). I also know what it truly costs to build a quality building in New York City. Construction costs are not decreasing. Some form of the Atlantic Yards will be built but most of our buyers need a place to live in the next six to nine months. These are the people we are seeing in our sales office.
In Response to Anonymous at February 1, 2007 4:36 PM:
Rising interest rates mean that everyone can afford less. Most economists were talking about higher interest rates a year ago. That never materialized. Rates have been decreasing since November 2006. Supply tends to dry up when rates move higher as more people plan on staying in their current situation as opposed to selling at a lower price.
The price sounds fine for a condo of that size in this area. Probably will be a bargain by the time it’s ready. I am an agent and not affiliated with Forte in any way. I actually didn’t realize they had apts. at this price point.
It is a studio where the Sponsor will put up a wall for the purchaser and it becomes a One Bedroom. This apartment has great views over the top of the brownstones and looks into Fort Greene Park. This new condo in the BAM cultural distric compares well to the just sold $413,000 One Bedroom COOP on Smith Street in a previous post on this Blog and the New York Times. Other apartments above the 15th floor will see the Statue of Liberty and the New York Harbor. We are topping out at 30 storys at the end of February. If you have any questions call me 718-855-1500.
Rising interest rates will depress prices. Anyone know what the typical historical trade off is — between increased interest payments and decreased purchase costs?
What if interest rates go up?
That looks like something I would consider buying as its in a great area. However, I agree with you that it would be stupid to do so now.