Merchant House Condos on Dean Street price drop
Located on Dean between Carlton and Vanderbilt, the Merchant House Condos were originally marketed by Brown Harris Stevens.This unit, originally listed at $860K for a 1,350 square foot two bed, two bath, recently dropped in price to $799K. The price represents $592 psf.
According to this brownstoner post, there are roof issues and the board is in the process of suing the sponsor.
Will one of the board members contact us at ltjbukem@gmail.com? We have some questions we'd like to ask.
The buyer likely is making at least $250K on this unit if we remember correctly.
Labels: atlantic yards, condos, merchant house condos, prospect heights
4 Comments:
what's your problem with making money from real estate? all the rich people do it all the time and nobody looks down on them.
in this case, someone took a chance on a block that wasn't top tier and will stand to profit. good for him/her. why do you continue to analyze how much someone will stand to earn? it doesn't take an Einstein to buy a penthouse facing Central Park but it takes guts to buy a unit opposite a homeless shelter and then come out on top.
It takes guts to buy opposite a homeless shelter. But it takes sheer unpredictable luck,in those circumstances, to come out on top. The luck involves finding one of those guys Barnum said was born every minute...
dude, no one's hating on money makin'...cash rules everything around me. c.r.e.am. with the money.....dolla dolla bill y'all...
No problem with profits. The developer made his and moved on. Whatever speculator bought this is sitting with their gland in one hand and the $6,000 a month bills in the other. Then there is the vision of sugar plumbes nad realtor whispers that causes them to price it for a huge mark up. Hope they make their escape before the neighbors decide that it is good place to campout for the winter.
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