Clinton Hill condos - from subsidized to market rate fraud?
The last we heard, units at the supposedly-subsidized units at the Dewitt Condominiums at 483 Washington Avenue were supposed to be doled out via a lottery. Many brownstoner readers claimed foul play-- that their applications were returned with 'return to sender.'Apparently 8 of the units would be market rate and would be used to subsidize the other 8. Now, it seems Brooklyn Properties has the listings for the 8 market-rate units.
Prices range from $749K for a 1,557 square foot duplex with rec room to over $1.2MM for a 1,348 square foot penthouse. Parking spaces are going for $75K, 3/4 of what it costs for one at One Brooklyn Bridge Park at 360 Furman Street! Price details are here. These are $850 psf to $983 psf ranges!
Labels: clinton hill, condos, washington avenue
16 Comments:
Yes these are about as over priced as the 2br condos at Hello Living.
The prices do seem a bit aggressive but not completely out of line with what else has been selling.
Aside from that, what's the fraud comment about? I did see the comments on brownstoner that some people had their apps returned but I'm missing the fraud part, was there something more to this?
You did say that there are supposed to be 8 units sold at market rates and it looks like they have retained Brooklyn Properties to sell those 8 so it looks like that part of the deal is proceeding as planned. The other 8 are to be sold by lottery so we won't know what happens with them until the lottery is conducted, right?
They couldn't have picked a firm with less knowledge about marketing, and the prices are way out of line! Show me something in this neighborhood that has sold at $900 a/ft and 75K for parking? No way!!
Aggressive doesn't even begin to describe the pricing. This building is on a busy block with lots of car and foot traffic. It's wedged in between a church and a soup kitchen. Now I recognize that those are two things that are needed in a neighborhood (at least the soup kitchen is) but I doubt anyone is going to pay big bucks to live next to them.
i've also noticed that on sundays, with the double-parked church cars, traffic is a bit of a hassle..
it's also 1.5 blocks from the methadone clinic..
brooklyn properties couldn't sell water in the middle of a desert. there a pathetic group.
but they sure have a better website and listings than aguayo and huebener.
I do digress, Wow I would have to totally disagree with that last remark. Aguayo's website is far superior to any of the other local agencies maybe the old one was dead in the water. If you actually count the listings like I usually do on Trulia you would see that Aguayo has about triple the amount of listings than Brooklyn properties. I think your speaking out your ass on that one. But didn't you do some work with brookyln properties?
ben, the user interface on ah sucks. if you click on a property and scroll thru the pictures, hitting the back button does not bring you back to the listings, like it does on the corcoran site. it only brings you back to the previous picture.
that, in my book, and many designers, means the UI sucks.
you get what you pay for.
I'm still int he running for one of the below market value units, so I don't see any fraud. Maybe the apps that were sent back were due to people not crossing all the t's and dotting of i's? People make mistakes all the time, thinking they've done things right and this could be the case and they're unwilling to admit they screwed up. If not for this lottery system I'd have no hope of buying anything within 25 miles of NYC. I applaud this type of system for those of us who can't foot both the downpayment and the monthly carrying charges. Even places I could come up with the $100,000 downpayment are out of my reach when I factor in mortgage payments and common charges. Owning your own place is tough when working freelance and going through a slow period no matter how well you budget your money when times are good. Please, everyone, keep your fingers crossed for me.
Really, you have to click through 5 different pages on BP's site just to get to the freakin' listing to begin with. That and the design and graphics are just awful very 1982 realty firm look. That and their listings are the same crap; don't get me started on how BP tries to market new development, are you kidding me? No offense, but by the looks of your own site your really no one to judge.
ben, ur right. bp is awful also. they recently instituted a change where if you click the listing, it doesn't bring you to the listing number as you would expect, but you still have to scroll down and find the number.
in re: your comment, the difference is that i'm a one person show with no budget who spends half an hour a day on the site. bp is a bricks and mortar operation with a 24 hour web presence that is the guts of their operation. thank you. i'm sad you don't like my minimalist blog design.
FYI, the later comments from "ben" are not from me - the first "ben" poster. Not that it matters but just so you know who you're conversing with.
I figured my uppercase "B" would differentiate me. I will be BENK from now on.
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