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302 Washington Condos come at a price

The brownstone/carriage house conversion at 302 Washington Avenue has been under construction for some time until very recently. Now, all 4 units are on the market, at some chart-topping prices. The 3 floor-thru 2 bed, 2 baths units with 900 square feet are asking $685K, about $761 psf. Yes, indeed, quite high for this point in time. This is more than any Graham Condo has ever sold for, I believe.

The units are being marketed by Warburg Realty, which up until now hasn't made much of a push into Brooklyn yet. This may be their maiden voyage.

The 1,825 square foot duplex is asking $1.325MM and the 2,274 square foot carriage house is asking $1.75MM. Quite a tall order, because all potential buyers will be weighing the fact that they can buy a decent, livable (all relative, folks) townhouse for that same price.


At October 14, 2006 5:10 PM, Anonymous Anonymous said...

i find it to be pretty overpriced

At November 02, 2006 11:13 AM, Anonymous Anonymous said...

I took a look at the Warburg listing on its website and it does look like top finishes on appliances. It seems like a lot of work went into the restoration. I suppose you are paying a lot for a mint condition turn key place. In any event, I guess you have to see it to know for sure whether it is worth it. From the pictures it does look sweet.

At November 11, 2006 4:14 PM, Anonymous Anonymous said...

A new renovation does not equal mint condition. The finish work in every room is low quality (poor paint finish, trim gaps, shoddy flooring installation, etc...), and the finishes are far below what one would expect for properties in this price range (bare steel stairways in the duplex, cheap lighting, inexpensive kitchen cabinets...). the layouts are all chopped up too. Some Manhattan sucker is going to get infatuated with the 'old world charm' of the original details and get overpay for these places (if Warburg is lucky). I can't believe a builder would not notice these things.


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