Brooklynian » Topic: Future of Meier building?

Brooklynian » Topic: Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building en-US Wed, 22 May 2013 19:25:39 +0000 http://bbpress.org/?v=1.0.2 <![CDATA[Search]]> q http://brooklynian.com/forum/search.php Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-762611 Thu, 27 Dec 2012 10:39:25 +0000 whynot_31 762611@http://brooklynian.com/forum/ When it is time to sell a unit, I assume that only non-smokers will be interested. This reduces the pool of buyers, but makes the property more attractive to some. Does this increase property value? Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-762607 Thu, 27 Dec 2012 01:50:46 +0000 eastbloc 762607@http://brooklynian.com/forum/ I wonder how encompassing this is. Can I burn incense? Use tobacco with a vaporizer? Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-762603 Wed, 26 Dec 2012 16:05:32 +0000 whynot_31 762603@http://brooklynian.com/forum/ The Meier building has become one of the first in NYC to ban smoking indoors. ...you can't even smoke in your own apartment: <a href="http://ny.curbed.com/archives/2012/12/26/richard_meiers_on_prospect_park_bans_smoking_indoors.php#reader_comments" rel="nofollow">http://ny.curbed.com/archives/2012/12/26/richard_meiers_on_prospect_park_bans_smoking_indoors.php#reader_comments</a> Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-757291 Wed, 18 Jul 2012 14:32:52 +0000 GoodProspect 757291@http://brooklynian.com/forum/ not surprised Fresh Direct does well....the kitchens are too small to do any real cooking! Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-757289 Wed, 18 Jul 2012 14:04:12 +0000 whynot_31 757289@http://brooklynian.com/forum/ True. But arguably the building took so long to complete because sales were so slow, and the 2008 stock disaster affected its potential buyers more than those of a regular building. At one point, people in contract to buy the units were doing things like delaying their closing date, because they feared they were entering into a bad investment. I'm sure they expected it to take a while to sell such innovative and expensive designs in this neighborhood, but I wonder how much $ they lost (profit not earned?) as a result of the time it took to finally sell out. Would the developers do it again? Was their ROI ok? BTW, Fresh Direct does well at this location. Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-757268 Wed, 18 Jul 2012 11:44:58 +0000 mishaps 757268@http://brooklynian.com/forum/ <blockquote><cite>whynot_31 <a href="http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-757256">said</a>:</cite> The building was completed in 2005. </blockquote> The building was announced in 2005. There were no apartments for sale there until 2008, and the very article you point to notes that the penthouses weren't finished until 2010 (and one of the commenters suggested that the roof was still unfinished). Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-757256 Wed, 18 Jul 2012 10:37:13 +0000 whynot_31 757256@http://brooklynian.com/forum/ <img src="http://cdn.brownstoner.com/wp-content/uploads/2012/07/1-grand-army-plaza-sold-out-071712.jpg"> Today, the building finally sold its final unit. The building was completed in 2005. ...the present year is 2012. <a href="http://www.brownstoner.com/blog/2012/07/1-grand-army-plaza-officially-sold-out/#disqus_thread" rel="nofollow">http://www.brownstoner.com/blog/2012/07/1-grand-army-plaza-officially-sold-out/#disqus_thread</a> Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-752280 Mon, 12 Mar 2012 09:45:38 +0000 whynot_31 752280@http://brooklynian.com/forum/ <blockquote><cite>Brownstoner » </cite>This weekend’s real estate section in the Times had a story examining how buildings constructed with “starchitects” at the design helm—Richard Meier, Enrique Norten, Robert A. M. Stern, et al.—are not necessarily holding value on the resale market or having a smashing sales run from the get-go. The two Brooklyn examples mentioned are Meier’s On Prospect Park (a.k.a. 1 Grand Army Plaza) and Norten’s 580 Carroll Street. The former has seen price cuts and is nearly 80 percent sold since hitting the market in 2007, and the latter still has 10 of its 17 units unspoken for after being on the market for about two years, as we reported last week. Both Meier and Norten have quotes in the article saying that perhaps the locations of the buildings deterred would be buyers. For example: “Mr. Norten ascribed the sluggish sales mainly to the building’s location. It is on Carroll Street, near Fourth Avenue, the far western edge of Park Slope. ‘I think the developers were very brave in trying to upgrade with different architecture there,’ he said. ‘They were taking a risk.’” (In the case of OPP, though, location can hardly be blamed, since many would consider it one of the the premier locations in Brooklyn.) Leaving aside the fact that brand-name cachet is probably not as valuable as it was in the real estate boom years, do you think starchitect pedigree will always be a somewhat tougher sell in a borough better known for its stately brownstones and handsome prewar apartment buildings? Or, you know, maybe the price is just too damn high on the starchitect condos that have come to market here!</blockquote> source: <a href="http://www.brownstoner.com/blog/2012/03/has-starchitecture-lost-its-luster/#disqus_thread" rel="nofollow">http://www.brownstoner.com/blog/2012/03/has-starchitecture-lost-its-luster/#disqus_thread</a> Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-749605 Thu, 12 Jan 2012 17:47:33 +0000 whynot_31 749605@http://brooklynian.com/forum/ Several years have passed. Only 20% of the units are left! <blockquote><cite>brownstoner » </cite>We haven’t checked in on sales at the Richard Meier-designed On Prospect Park for quite some time, but a press release that was sent out this morning brings us up-to-date on what’s going on with the condo: Brown Harris Stevens is the development’s new broker, taking over from Corcoran to market the remaining 21 unsold units in the building. The release notes that 10 of the unsold condos have been put on the market and that some are “price-improved.” A quick scan of StreetEasy reveals some of the price cuts: A two-bedroom that was listed for $935,000 when Corcoran had the listing is now asking $850,000; another two bedroom has dropped in price from $945,000 to $895,000; and a three-bedroom last listed for $1,800,000 is now asking $1,700,000. The building is 80 percent sold overall.</blockquote> source: <a href="http://www.brownstoner.com/blog/2012/01/new-brokers-some-price-cuts-for-opps-remaining-units/#disqus_thread" rel="nofollow">http://www.brownstoner.com/blog/2012/01/new-brokers-some-price-cuts-for-opps-remaining-units/#disqus_thread</a> Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-748344 Thu, 15 Dec 2011 00:16:29 +0000 Karl the Druid 748344@http://brooklynian.com/forum/ karl checks his satchel for westerly exposure such a deal of deals Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-748278 Wed, 14 Dec 2011 10:37:24 +0000 GOD 748278@http://brooklynian.com/forum/ Let me get my check book. Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-748271 Wed, 14 Dec 2011 02:12:39 +0000 whynot_31 748271@http://brooklynian.com/forum/ Still selling, but at a discount.... <blockquote>1. PROSPECT HEIGHTS $1,733,000 1 Grand Army Plaza, #6G GMAP P*Shark The listing says this unit includes, “Westerly exposure with cityscape and tree top views, privately positioned Master bedroom suite, extra large 2nd and 3rd bedrooms with a shared walk in closet and a sundrenched all glass home office.” 2,107 square feet, five bed/four bath, asking $2,140,000 in 2008. Entered into contract on 10/10/11; closed on 11/21/11; deed recorded on 12/09/2011.</blockquote> Source: Brownstoner.com 2107/$1,733,000 = $822 a sq ft. Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-735518 Mon, 11 Jul 2011 23:28:13 +0000 whynot_31 735518@http://brooklynian.com/forum/ I can only vouch that since 2003, I have seen many well dressed people leave the venue between 11 PM and 1AM. The venue doesn't seem to host low end clienteles. (hence I have never been inside) When I hang out on Sepias patio, I can hear sometimes hear the parties at the temple. I imagine the glass walls transfer the noise a lot, but suspect the Meier residents will need some objective proof that the noise codes are being violated to win their suit. Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-735512 Mon, 11 Jul 2011 22:26:57 +0000 BKChickie 735512@http://brooklynian.com/forum/ Can anyone (outside of OPP residents) vouch for the noise? Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-735506 Mon, 11 Jul 2011 22:02:32 +0000 inpixels 735506@http://brooklynian.com/forum/ that seems to deserve a thread of its own ....no? what the heck is going on over there???? Kaparos every week???? [video]http://www.youtube.com/watch?v=xrKys_0gdjk [/video] Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-735504 Mon, 11 Jul 2011 19:17:32 +0000 whynot_31 735504@http://brooklynian.com/forum/ Now, the real fun begins. The residents have filed suit against the neighboring Temple for having loud parties. The temple has rented it's spaces to diverse groups for the last 20 years. <a href="http://www.brownstoner.com/blog/2011/07/opp-owners-arent-down-with-synagogue-parties/?stream=true" rel="nofollow">http://www.brownstoner.com/blog/2011/07/opp-owners-arent-down-with-synagogue-parties/?stream=true</a> Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-732259 Fri, 03 Jun 2011 11:08:42 +0000 whynot_31 732259@http://brooklynian.com/forum/ For some reason, the Meier build neglected to invite me to the unveiling of their penthouses! Brownstoner reports that the building has finally finished construction, and threw an event last night to show off its nicest units: <blockquote>The crown jewel of the evening, Penthouse 16 South, is a four bedroom with three-and-a-half bathrooms that has 3,524 square feet of interior space and 2,582 square feet of outside space. Asking price: $5,100,000. The second unit is #<a href='http://brooklynian.com/forum/tags/16'>16</a> North. This is a four bedroom, three-and-a-half bath, with 3,274 square feet of interior space and 3,172 square feet of exterior space. It has a pretty swanky wrap around terrace, including balconies for the second and third bedrooms. The asking price comes in at $4,900,000. Finally, PH 16 West, the only duplex in the development, has three bedrooms and two-and-a-half bathrooms, and it also has a private roof terrace. It's the cheapest of the bunch, asking $2,750,000. </blockquote> <a href="http://www.brownstoner.com/brownstoner/archives/2011/06/opp_penthouse_p.php#comments" rel="nofollow">http://www.brownstoner.com/brownstoner/archives/2011/06/opp_penthouse_p.php#comments</a> Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-725452 Tue, 08 Mar 2011 14:20:38 +0000 whynot_31 725452@http://brooklynian.com/forum/ Slowly, but surely, the building continues to sell its units. Sorry, goodprospect, but it was one of the penthouses that you were eyeing.... As per <a href="http://www.brownstoner.com">Brownstoner.com</a>: 1 Grand Army Plaza, #8F GMAP This is the second week in a row OPP has topped the biggest sales list. (There's also another penthouse unit still in contract.) Like last week's unit, this is a three bedroom. It was on the market for $2,900,000 back in 2007 and took about a 27 percent cut. Entered into contract on 10/7/10; closed on 2/9/11. For those into math: $2.9M x .73 = $2,117,000. Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-722956 Tue, 01 Feb 2011 16:21:55 +0000 GoodProspect 722956@http://brooklynian.com/forum/ I can't wait for this place to become MY retirement home....I've got my eye on one of the penthouses..... Future of Meier building? http://brooklynian.com/forum/prospect-heights/future-of-meier-building/page/3#post-722944 Tue, 01 Feb 2011 13:39:54 +0000 whynot_31 722944@http://brooklynian.com/forum/ Slowly but surely, this building is selling its units at close to the ORIGINAL ASKING PRICE! Via Brownstoner: 2. PROSPECT HEIGHTS $2,650,000 1 Grand Army Plaza, #12D GMAP #12D is a 2,620-square-foot three bedroom. It was originally listed for $2,850,000 and then got a price boost to $2,950,000. The unit entered contract five months later. Entered into contract on 12/13/10; closed on 1/20/2011; deed recorded on 1/28/11. <a href="http://streeteasy.com/nyc/sale/516978-condo-1-grand-army-plaza-prospect-heights-brooklyn" rel="nofollow">http://streeteasy.com/nyc/sale/516978-condo-1-grand-army-plaza-prospect-heights-brooklyn</a> For those who like percentages, $2,650,000 divided by $2,950,000 = 89.8% ....this is despite being originally listed at the peak of the market, and sitting on the market for years. Apparently it really is all about having the patience to wait for the right buyer. ....someone just paid a little over a $1000 a sq ft to live in a fancy building on the edge of a neighborhood that frequently goes for around $550 a sq ft.