Prices Slashed at Verdi on Adelphi
The Verdi on Adelphi continues to be plagued by slow sales, and its situation is finally reflected in the pricing. Streeteasy shows asking prices dropping around 14% yesterday, leading to a $100,000 cut for the most expensive unit, a 1,002-square-foot two-bedroom. It’s now $599,000 instead of $699,000. Not really a surprise to us; sales were…
The Verdi on Adelphi continues to be plagued by slow sales, and its situation is finally reflected in the pricing. Streeteasy shows asking prices dropping around 14% yesterday, leading to a $100,000 cut for the most expensive unit, a 1,002-square-foot two-bedroom. It’s now $599,000 instead of $699,000. Not really a surprise to us; sales were slow back in January when we last posted about it. Only three units are in contract, with 11 more waiting for owners to snatch them up. Could the architecture have something to do with it? Or maybe proximity to the BQE? Evidently, all that glitters is not gold.
The Verdi [Corcoran] GMAP P*Shark DOB
Verdi’s Sales Like Its Architecture: Ugly [Brownstoner]
At Verdi, All That Glitters Ain’t Gold [Brownstoner]
New Development: Verdi on Adelphi [Brownstoner]
$2500 /mo after ponying up $38k for a 1-bedroom… crazy.
This is the grosses location and the ugliest building in all of New York!
This is the grosses location and the ugliest building in all of New York!
I agree the location is not the best and the design is over the top, but I can’t stand all the negativity. It’s called gentrification people, any new condo is a good thing. It increases home values in the area, brings in new businesses, and gives the NYPD incentive to reduce crime. I notice that any condo being built in a scetchy area gets overly criticized while new developments in better neighborhood’s (Park Slope) gets applauded. If you’re a real New Yorker you would knowthat the Slope was a bad nabe before Manhattanites started moving there. Celebrate change!!!
Rather hilarious disconnect between the actual building and the attractive green picture on the Corcoran site.
it’s simply not priced correctly for the location. even if this had a gorgeous exterior, it’s too expensive. the interior offers perfectly reasonable features.
needs to come down to like 500 psf.
It’s all perception, I would assume they are just like any typical housing project in the city, low income housing with low income problems.
The more vocal locals haven’t taken to kindly to the whole gentrification process in FG and I just think there isn’t enough of a buffer between the housing projects, the BQE and the stroller nazi’s that would soon reside at the Verdi.
The property is 1/4 mile away from Fort Greene Park, and 3/4 a mile from the Metrotech Center (Which is just as close as the G train).
I’m all for replacing public housing with mixed-income developments like every other city in the country has done, but are these particular projects really this bad?
I also don’t think the design is all that bad. It is certainly no better or worse than the very plain brick tenement next door. It’s cheap construction surely, which means the developer has a ways to go in terms of price cuts.
Agree the Building is totally out of context and ugly
The pricing is high for the area
However, this is not as horrible an area as other posters are making it out to be
I honestly do not see the difference ( beside the York F train stop & of course the manhattan skyline view) between this area and DUMBO. Dumbo is ringed by Public Housing and the BQE/Bridges. I find Dumbo more desolate at night then this area
It is a 5 minute bus ride/15 minute walk down Myrtle Avenue to Metro Tech