The Real Deal article on Prospect Heights' condo glut
This month's hot-off-the-presses July issue has an article on new developments in Prospect Heights.
Apparently there's a surplus of condos on the market because the sponsors/developers/brokers have priced a lot of the units too high.
According to Peggy Aguayo, "Manhattanites who didn't even know how to get over the bridge but came because they saw signs for Soho-style lofts for one-quarter of the price."
The article mentions the 'overpriced' condos at 647 and 651 Washington Avenue. In addition, stalled units are also left over at 540 St. Marks Avenue, by the Franklin Av. shuttle (we didn't know those were on the market already, much less built!).
The article also mentions that 28 of 39 units at the Washington are sold.