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11/08/2008

Cautionary tale in Fort Greene's Greene House Condos

Unit 10W at the Greene House Condos in Fort Greene, has sold, finally. Formerly listed as high as $948K, in between, it dropped to $936K, then $895K and finally sold on October 21 for only $785K.

The scary part is that this unit was bought for $828K in January 2006, meaning the owner lost $43K on the purchase price, possibly another $40K on closing costs and probably $25K on the broker commissions.

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3 Comments:

At January 19, 2009 1:44 AM, Anonymous Toronto Lofts said...

I had some free time today and went over to the open house for the GreeneHouse Condos on Carlton and Greene in Fort Greene. From the minute I walked in, you could tell that this entire operation was first class - from the developers to the sponsors to the broker. Step in and enjoy the tour...The broker Jerry Minsky came in and made everyone sign in. They bought in two plates of sushi for the open house-go-ers! When was the last time or even the first time that anyone had food at an open house? Note only that, they bought in some huge heaters since it was freezing outside and the apartments did not have heat yet. He mentioned that the owners of the development made an attempt at being there to greet the possible buyers. He said one of the owners was skiing in Utah, but the other one tried very hard to come, which he said was very rare.Anyhow, it looks like the construction company may have made a decent attempt at putting in model baths, kitchens for the open house. In one of the kitchens, they had a full set of appliances and though the flooring was not there, they put in a sample piece of the wood floor so you could see what they would be using.They even had an on-site mortgage broker from First Meridian, who, although not the exclusive financiers, are available to help you with the mortgage. He mentioned that the 5th and 6th floor were already pre-appraised. He is using comparable sales from the 11238 area code, since there probably are no comparable new condos in the Ft. Greene area.

 
At May 09, 2009 7:11 AM, Anonymous frugal living said...

he open house for the GreeneHouse Condos on Carlton and Greene in Fort Greene. From the minute I walked in, you could tell that this entire operation was first class - from the developers to the sponsors to the broker..

 
At May 09, 2009 8:51 AM, Blogger Davieharely said...

He said one of the owners was skiing in Utah, but the other one tried very hard to come, which he said was very rare.Anyhow, it looks like the construction company may have made a decent attempt at putting in model baths, kitchens for the open house.rolex replica

 

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