Price Hike At The 14 Townhouses
On the heels of the yesterday’s Adelphi Street price hike comes news of a price increase at the 14 Townhouses on State Street. Despite the fact that sales have been on the slow side, the developer has decided to boost the asking price on the larger model from $2,750,000 to $2,900,000. This is a surprising…
On the heels of the yesterday’s Adelphi Street price hike comes news of a price increase at the 14 Townhouses on State Street. Despite the fact that sales have been on the slow side, the developer has decided to boost the asking price on the larger model from $2,750,000 to $2,900,000. This is a surprising turn of events but the folks behind this development are seasoned real estate pros so we can only imagine they have good reason for the move. Unless it’s purely a Corcoran pricing ploy.
269 State Street [Corcoran] GMAP
14 Townhouses Update: Slow Going, At Best [Brownstoner]
Stoner haters. 10 of these places are now in contract since the first of the year. Developers wised up and gave the listing to local agents.
The attitude of brokers on this blog justifies why real estate brokers are viewed as such losers by the public in general.
“A Harris poll conducted last year that ranked occupations in terms of prestige placed real estate brokers at the very bottom of a list of 23 professions.”
See article in NYTs
http://query.nytimes.com/gst/fullpage.html?res=9A07E5D6163FF93BA15752C0A9619C8B63&vendor=GABRIELS&partner=GABRIELS
8:52 am
I think your words speak for themselves.
Your reaction is bitter, angry and infantile. Personally insulting others who disagree with you is a sure sign of immaturity and lack of sophistication. You really have no class. Also your argument is weak at best.
Like I said, get over yourself. Get some therapy.
12:40 PM – Dude? That explains it, you must be a youngster that doesn’t know the difference between confidence and arrogance when formulating an opinion. You my good friend posses the latter. To speculate that a developer views the economics of a project as an afterthought because they are “one of these rich families” is just plain idiocy. More than likely the developer herself has a small amount of equity in the project along with other equity participants and most likely a lender of debt, which will probably require the developer to payback interest and principal. In the future, why don’t you try to be more responsible when sharing you thoughts with others. Pulling your head out of your ass would be a good start.
I disagree. Without the different color patterns it would look institutional. Just a big blob of red bricks.
I think it’s pricey and crappy. 2 million for fedders v.2 I think not!
Maybe I missed the memo, can the developer or broker explain the diffrent color patterns? Come out come out where ever you are…I know you’re in here. did they run out red bricks
6:57 pm
Just expressing an opinion that a property is pricey is not being bitter. There was no disparaging comment made towards the developer or anyone else. I agree that real estate development is a risky proposition, but I also believe these properties were overpriced and was speculating as to the thinking of the developer and their sales strategy.
On the other hand, I do sense quite a bit of bitterness coming from you, as well as anger. It seems to be triggered by opinions other than your own. Typical signs of acute real estate neurosis. Can anyone here refer a good real estate therapist to our 6:57 anonymous blogger?
Dude, get over yourself!
There are really only three downsides to these houses:
1. The immature immediate surroundings: the trees in front are new plantings that are years from being substantial and the construction in the reaer will make living in one of these unpleasant (from 7 am to 5 pm) for the next 18-24 months.
2. The narrowness of the houses — it’s hard to imagine paying the highest prices in the nabe for skinny houses.
3. Limited appeal of the interior design. I found them to be personally appealing, but had difficulty imagining easily reconfiguring any of the floors. For example, the houses without stoops enter right into a very small and odd feeling foyer — I’d want to do something with that, but don’t have a clue as to what. And forget about trying to convert to a triplex or four story owners with a garden unit without gutting the whole thing.
Other people might be bummed to be living so close to the House of Detention and Criminal court, but I don’t think that’s a big deal except for the impact on on-street parking (also severely impacted by the Brooklyn Tabernacle being so close).
My guess is that the developer originally expected to sell these for half of what they are on for the market for now. He/she probably has no problem sitting on these for a while (well, now a long while) given that even if the developer had to fire sale these, they would still fetch far more than they were originally expected to.
I still am not sure about the recent price increase, though. I’m not sure of the reason for that. Maybe the developer has had some recent offers close to the old asking prices so thinks that the market will soon be where the prices are now. I guess time will tell whether the price increases ends up being a smart move.