Yesterday’s New York Times: Aguayo & Huebener just sold a 2-bedroom, 925 sq. ft. condo in Park Place Towers (222 Park Place) for the asking price of $521,675. The condo, 10 weeks on the market has a $283 common charge (taxes not yet assessed).
As set speed points out, that’s $564 per sq. ft., or quite a premium over new condo developments in more "edgy" quarters of Prospect Heights.
That empty lot where the building stands was open for years and years. The original owner wanted $775,000 and he held out and finally got it.
Good for him!
I’ve been really intrigued by that building walking by towards the subway because if you peek in through the garage, you can see that the building is much deeper than it looks from the front, with some sort of open courtyard in the middle.
That ugly menace has huge rats. I feel sorry for anyone that’s already bought into it.
Another 925 sf unit in that building just went on the market for $575K – up from $486K initially. $622 per sf – yikes.
Emily, it’s actually two buildings, one in the front and one in the back. (That’s how it was described to me when they were putting it up.)
As for the owner getting $775,000 for the lot, I don’t know how long it was on the market, but we’ve been on the block for 15+ years, and it was always an open space. I just don’t know what the owner was offered in the years between, so I don’t know if (s)he’s to be congratulated for holding out.
I feel “sorry” for anyone who has that first floor apartment in the front. All the foot traffic and god forbid you want to keep your curtains open plus the lovely sound of the garage door opening and closing all the time.
Ah well – if they can afford that apartment, I’m not really sorry….
i went to the open house today. not promising folks, see my report at: http://ltjbukem.blogspot.com/2005/02/cheap-new-construction-trends-in.html
thanks.
yeah, i’ve been looking to buy in prospect heights and i came across a sad excuse for an 1bdr co-op at 400 lincoln place. 215K for what i would guess was about 450 square feet. that is close to $480 a square foot. kitchenette in the living room and bathroom in the bedroom. am i being naive or is that totally unreasonable???