Checking Back In On 475 Sterling Place
Like most new developments, the last few months have not been particularly kind to 475 Sterling Place (a former advertiser). To date, 18 units have closed, four more have signed contracts and—potentially putting it over the 50 percent mark—one unit has a contract pending. Unfortunately, this is less than the number we reported back in…
Like most new developments, the last few months have not been particularly kind to 475 Sterling Place (a former advertiser). To date, 18 units have closed, four more have signed contracts and—potentially putting it over the 50 percent mark—one unit has a contract pending. Unfortunately, this is less than the number we reported back in October, so some deals must have gone south in the meantime. We think this is a pretty nice looking building for the (now) $500 a foot price, so it’ll be interesting to see what happens as spring approaches.
475 Sterling Place Listings [StreetEasy] GMAP
Checking In On 475 Sterling [Brownstoner]
475 Sterling Ready for Prime-Time [Brownstoner] P*Shark
Time Lapse: 475 Sterling Place [Brownstoner]
Development Watch: 467-487 Sterling Place [Brownstoner]
close to great blocks but this one just misses the mark
So I was around the northern section of Slope – so I decided to visit during open house. The sales rep was Mary. Very friendly.
The cons:
The wooden floor planks are narrow. I would have prefer a 3″ or wider.
The refrigerator was rather low end for such price.
Popcorn type ceiling. Not sure exactly what kind it was but should have just left it flat.
No recessed lighting or overhead lighting in general. I would have to pay somebody to install some in the BR and LR.
Bathrooms have no storage (even behind vanities)
The push:
Neighborhood. Not many points of interest in the immediate area. But you are a 5 min walk from Grand Army and the park.
Subway is 5 min walk also – but 2/3 trains is not the ideal for me.
Washer/Dryer hookup – you got the hookup but where is the appliance?
Parking is $25k
Finishes where in general above average but could have been better – especially in the bathrooms.
The pros:
The craftsmanship was rather well done for the price.
The rooms are actually decent size. Living rooms where wide (13-15 ft).
The windows are big.
Decent to good amount of storage (some units have 2-3 hallway closets). Units also comes with extra storage in the basement.
The kitchen where functional and in some units had a nice island.
Because of the surrounding low rise buildings, units from 3rd floor and up have actually pretty decent views.
Price.
Regarding front vs back. To me it was not a big deal. to others it might be. Yes the backside had a nice view of a playground/kid’s park. If you are the person who likes to keeps the curtain wide open all the time, then yes, the backside of the building would be better since the next visible neighbor windows is on the other side of the block. Some of the front units (A line) have that extra window (seen in the center of photo above) which gives it really a nice touch.
Conclusion – if you could move the building one block southwest I would have actually seriously went in to negotiation with them.
Actually, it’s my understanding that the parlor floors are up so high, so that they were farther away from all the horse shit in the streets, when these homes were built.
PHBalanced, agreed!
Also, I think that there’s a reason that a lot of city houses have stoops and raised parlor floors. Nobody wants their living room to be a public display.
If I’m remembering correctly from when I looked at these places a year ago, it seemed like most of the apartments that had sold were in the back of the building, where you get a lot more sky (and a view of a playground, which could be annoying for the work-at-home crew).
Sterling is just too narrow and busy for most people to want an all-windows front wall facing onto it. If they’d thought about what was appropriate to the location, rather than just going flavor-of-the-month the way so many new developers do, they might have sold more places at the fairly reasonable prices.
Isn’t this across from an abandoned construction site? Washington Ave. is not at the point where I want to be spending almost $1 mil to live. Maybe in a few years, but not right now.
I agree Snark, definitely great news.
Here’s the full article, if you’re interested. I just excerpted the portion about the increase in police men and women.
http://www.nydailynews.com/news/politics/2009/02/26/2009-02-26_obama_budget_impact_its_like_christmas_i.html
That’s excellent news, 11217. Thanks for posting it.
Progress indeed. Bring back 3 X Income!!!
***Bid half off peak comps***