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Bklyn: ....and Fourth Avenue comes crashing down....

Started by GraffitiGrammarian
almost 17 years ago
Posts: 687
Member since: Jul 2008
Discussion about
Here is a funny one: a 900 sf 2-bed that faces Fourth Ave, that they've lowered from $700k to $475k. http://www.streeteasy.com/nyc/sale/394091-condo-630-union-street-park-slope-brooklyn I'm not sure what is going here, and we have had lots of talk threads about Fourth Avenue. I am among those thing it is a very undesirable place to be. But more broadly, I have been thinking, now that $500k is the new pricing level for decent 2-beds in Brownstone Bklyn, that can't hold, because we're nowhere near the bottom yet, esp in Brooklyn. So sometime down the road, maybe by the end of the year, I'm guessing $400k will be the new $500k, at least in Bklyn.
Response by nyc10022
almost 17 years ago
Posts: 9868
Member since: Aug 2008

ouch

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Response by NYCMatt
almost 17 years ago
Posts: 7523
Member since: May 2009

I can't believe anyone would have paid $700K to live in Gowanus in the first place, even for an entire house.

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Response by stevejhx
almost 17 years ago
Posts: 12656
Member since: Feb 2008

Let's see: $2,700 a month to live on a major thoroughfare, in a walk-up apartment, blocks from the Love Canal I mean Gowanus Canal, which is about 600 square feet when you subtract out the hallway....

"Well worth the walk up!"

LMAO!

You can rent a much better & bigger apartment in the Ellington for that cost, right in Manhattan:

http://www.rosenyc.com/No-Fee-Rental/The-Ellington.aspx

and not have to worry about losing your shirt.

How's about $150,000?

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Response by iamlooking
almost 17 years ago
Posts: 140
Member since: Nov 2008

556 per sqft for a top floor walk-up in brooklyn? still over-priced

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Response by bronxboy
almost 17 years ago
Posts: 446
Member since: Feb 2009

Fourth Avenue is not a desirable place to live unless you like a view of the Gowanus Canal and car detail centers.

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Response by stevejhx
almost 17 years ago
Posts: 12656
Member since: Feb 2008

Oh, I forgot: THE TAX BENEFIT!

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Response by nyc10022
almost 17 years ago
Posts: 9868
Member since: Aug 2008

I'm with you. We're not even talking about a neighborhood with "potential", even if 20 years away. You're talking about on a major thoroughfare, just ok for transportation, lousy building stock (this is never going to be a "pretty neighborhood", near projects, not particularly close to Manhattan... and asking for ridiculous prices.

Someone on another thread tried to say that 4th avenue had similar "foundations" to SoHo and Tribeca...

but I think that just shows how delusional folks got in the frenzy.

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Response by nyc10022
almost 17 years ago
Posts: 9868
Member since: Aug 2008

actually, I was wrong... the comment was worse/funnier than I thought...

"It has all the bones of soho, dumbo, and williamsburg... and if it takes 10 years to get there that's fine by me."

My favorite part is how 10 years is supposed to represent the worst case...

;-)

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Response by stevejhx
almost 17 years ago
Posts: 12656
Member since: Feb 2008

Someone needs to tell them that SoHo and Tribeca don't have major thoroughfares (no thanks to Robert Moses, who tried) and they have a stock of beautiful cast-iron buildings, they are in MANHATTAN and have some of the best public transport in the city (and hence the country).

Which part of that is like 4th Avenue in Brooklyn?

Where's spunky? (I haven't said that in a while!)

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Response by junkman_r_u_serious
almost 17 years ago
Posts: 230
Member since: May 2008

This is another one of those SE threads that is going to go from funny to sad, just like 407PAS.

4th avenue is too easy of a target. Why not try for something a little more challening? :)

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Response by junkman_r_u_serious
almost 17 years ago
Posts: 230
Member since: May 2008

Hell, I'll take a shot also - look at the google maps satellite view. All those windows on the right hand side of the floorplan have a great view of the mirror image floorplans in the building next door about 10 feet away....

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