Checking In On The Satori
Like many new developments these days, listings aren’t exactly flying off the shelf at The Satori, the 34-unit condo at 340 Bond Street in Gowanus. According to the broker, two units are sold and another six have contracts pending; according to StreetEasy, 26 are still available. On the plus side, we hear that open house…
Like many new developments these days, listings aren’t exactly flying off the shelf at The Satori, the 34-unit condo at 340 Bond Street in Gowanus. According to the broker, two units are sold and another six have contracts pending; according to StreetEasy, 26 are still available. On the plus side, we hear that open house traffic has been good. It sounds to us like all that’s needed here are some price cuts. Most of the units—which are listed for an average of about $600 per foot—have never been reduced.
The Satori [The Developers Group] GMAP
Price Cuts at the Satori [Brownstoner]
Satori Condos Get the Chop [Brownstoner]
Development Watch: 340 Bond Street [Brownstoner]
In my book, the biggest drawback about Gowanus as far as buying a fancy new place is concerned is the fact that it wouldn’t take much of a storm to flood out the neighborhood. A block or two up either slope would make a huge difference. I love living and working down here, but when it comes to buying I”m going to head to higher ground.
“contracts pending”
Oh my God! They accepted! Oh no! Should I sign? Oh…oh…oh…!!! [think ‘Office Space’ when the shrink died]
[Reads Times article and posts a ‘To Sign Or Not to Sign’ thread in the brownstoner forum]
***Bid half off peak comps***
Because of where it’s situated, the area, while not the most attractive, will probably not go downhill. There’s a nice neighborhood feel even on Bond. As for the development itself, I was mystified as to why they didn’t put in bigger windows. At lest they finished the project correctly as opposed to that other disaster on Carroll nearer Hoyt.
Snap.
Why is is that when we’re talking about Gowanus, it’s seedy and ugly, but when it’s Williamsburg it’s the coolest shit around?
This block looks JUST LIKE 75% of blocks in Williamsburg.
And that area seems pretty desirable.
Unlike Williamsburg though, this area isn’t isolated and is within walking distance to 10 great neighborhoods.
The “ill-kept housing project of some kind” is not so accurate. Its one of the city’s best senior housing projects, a public private partnership thats a model for elderly housing (http://www.ccbq.org/1000%20unit%20preservation.htm) That being said, they could fix the fence…
I live around the corner and the proximity to smith street and park slope and clubs like the Bell House make it a great location, even if bond street is not so attractive (irrespective of the satori prices.)
This the kind of development that should be priced 30% below comparable units elsewhere. It is not unsafe (though who knows about the impact of toxic site across the way). It is likely to be nice place in 20 years — and should have been priced accordingly.
I think Brooklyn Chicken AND Petebrklyn are both right – it is either a horrible location or a great one – it sort of depends on what happens with sales of this project and a couple of others nearby….but I think the distinction is that while 4 years ago, you payed an almost identical price for an “up and coming” area and a more “arrived” one – in today’s environment buyers expect to pay LESS; because there is no guarantee that that 5 years from now the area will be any different (or “better” in RE language)
visually, the location isn’t much to look at, but it is only two blocks off of smith. that said– yuck! i went to the open house a few weeks ago and was unimpressed. aside from the sketchy “storage areas” that they claim can be made into an additional bedroom or office (even if you pulled out the platform in several units you wouldn’t have been able to stand in there if you were over 5ft tall). the bathrooms are also awful. there are some units where the bedroom ceiling must be 20 ft high– fine except how do you cover those windows? and the floors in nearly ever unit were coated with dust and dirt–you could see that you would be constantly cleaning them. all of this is the exception of the model unit which is, of course, the most functional. if they had only made all of the units that way…i sense they’ll be able to sell the ones that have some sort of rational layout and the others will fester.