Links of Concern and Amusement

Concern: The protests over the paring down and/or chopping of the B37 and other bus lines. This article in The Brooklyn Eagle explains why the B37 is vital to so many.

Amusement: From the NYT real estate listings comes a condo of 550 square feet on 39th Street for $349, 000. But not to worry, you can customize the kitchen to your taste, and you pay no tax for 7 years! It makes the $200 common charge seem practically reasonable. Except for the bus and construction fumes wafting in your window.

FYI: For $355k you can get a 1 bed/1 bath and 645 square feet on the park, or for $329k you can get 925 square feet close to the park in a 2 bed/1 bath space.

Be An Opportunist

Don't want to commit to buying a condo? No problem! Check out this opportunity on craigslist!

The listing is slightly misleading (AND ANNOYING TO READ!!!!!), but the new Kings Hotel (with day rates!) is a few blocks up the street, and the park is a couple of short blocks away. Not bad for three bedrooms with two baths. Of course, opening your windows and enjoying your terrace is tough with all those trucks...

On(e) Sunset Park is Selling Some Units

Brownstoner sure loves Sunset Park lately. Porn, Bahn Mi, and now a return to the rent-controlled turned luxury condo building on 44th and 7th. Phew! They really DO love us! ;)

The "checking in" they do is really an update on the sales going on in the building. Apparently, five units have sold; I only saw three contracts signed on the site, but maybe they have inside information. The comment thread on Brownstoner is full of misunderstandings. Last week's Buy of the Week in the New York Times was in Sunset. It was in one of the coop buildings that hasn't yet gone to mortgages; its price (and low maintenance) is a lot less because of that. Some of the 'Stoners mixed up that building with One Sunset Park (which allows 10% or 20% financing). They are very different animals.

Plenty of Condos Available in Sunset Park

With a new condo building going up on 6th Avenue and 46th, you have to wonder what is happening with the many buildings whose condos have been languishing for months, nay, years. The 7th Avenue condo building is one example, and that now has rental signs in the windows. Here are two 8th Avenue examples.

The sign above for a rental Co-Do is for the corner building on 8th and 48th. As you can see below, the units come with a balcony, and 3 bedrooms are rare finds these days. However, calling the number gets a sudden disconnect when you ask about the price. Was it my accent?

The building shown below is still receiving some finishing touches. The sign on the balcony is still optimistic; these condos are for sale. They are on the same 8th Avenue block as the Co-Do building. Will a couple of doors down make a difference in sales? I haven't called this number. Perhaps their phone connection is more solid.

Let me know what happens if you call to inquire about rentals or sales.

Condos On the Park

Sigh. When I noticed the One Sunset Park banner go up a few weeks ago, a piece of my heart sank. Ironically, it was because the whole business (the scaffolding that went up and down pretty quickly, the construction crews and the bin o' demo trash handling that actually looked professional) seems to be a solid, responsible, up-and-up project. That is, in comparison to the many condo projects going down (up?) on 7th and 8th Avenues. I just get sad when the amount of rentals available goes down...especially since sales don't seem to be jumping around here. Maybe in a few months, these units will be available to rent?!

I avoided posting about it because I didn't want to give the place any advertising; I didn't (and truthfully, still don't) know how the new owners were treating their current renters - I believe this is a rent stabilized building. There are some horror shows going on in Sunset regarding the pushing and shoving out of long-time residents, after all. From what I've heard, and that's unofficial since it's from the realtors and a resident in the building, things are pretty calm. The resident I spoke to said that there hasn't been any harassment, but there have been inconveniences. No elevator for six months* (that may be an annoyed resident's wide estimation), construction noise, and "deals" made with residents if they buy into the condos were a couple of things she mentioned. Pretty standard, and certainly not like some of the tactics taken by more notorious members of our landlord community.

*The agent wrote to say that it was actually six weeks while the elevator was fully upgraded.

However, last week Brownstoner highlighted the place, so the secret was out. I suppose the huge banner accomplished that as well, but just for those of us who are already in the neighborhood. That said, you KNOW my curious (okay, nosy) self had to check out the work being done. So, I went to the open house to see what there was to see.

I thought I'd get to see several units; after all, the website advertises five units available. Not being an experienced conversion to condos type, I didn't realize that available doesn't mean completed. The only unit available for "touring" is the sales office, Unit 2C. It's a two bedroom and one bathroom unit for $435k at 830 square feet. It's very modern-looking, and it's very chic. The cherry floors, the full and separate washer/dryer, and the window shelf in the bathroom were particularly appealing to me. That, and the promised additional laundry in the basement. Sometimes you don't want to wash bathrooms rugs in the same machine you wash your underwear. You know?

It's not a ton of space; the master bedroom is large and has three closets. One is a walk-in. The second bedroom is more office-sized and has zero closets. Huh? Can that still count as a bedroom in a condo? Okay, so it's good for a single or a couple. It's still double the cost of a lot of the same-sized coops around here.

The kitchen has lots of storage and a large refrigerator (both doors open to allow large platters for entertaining!). It even has counter space. However, it's basically in a hallway, and you have to walk through it to get to the bedrooms and the bathroom. Not a problem if you live alone.

There is a very cute "Zen" garden off the lobby. It looks really good with a quick glance. With closer inspection, however, it shows some issues. The fountain is slightly off-kilter. Really slightly, but the water only pours out of one side. There is not a lot of room for more than one set of people to hang out and be Zen. Any more than that, and it's less Zen and more awkward standing room only at a cocktail party. Still, it's pretty and it is outdoor space.

I don't know. With houses in Bay Ridge offering backyards and parking and basements going for 200k more than a two bedroom/one bath condo with a $450 monthly charge (including common charge and taxes), is it worth it to have a fitness room and Zen garden and someone to handle the trash and elevator maintenance? Again, I don't know. My guess is the singles and couples the majority of these units will attract may think so. However, with an eventual 54 units available, I think it's going to be a long, long time before the majority turn-over and then sell. That could be a tough living situation.

At least the workmanship is professional (in the sales unit, anyway!). Many of the quickie condos going up are embarrassingly misguided in how to avoid gaps between walls and molding, tiles and corners, stairs and supports. And in many areas farther out (Bensonhurst, for example) they are selling for a lot more than these units.

So neighbors, I suggest stopping by for a look-see. I think open houses are every Wednesday and Saturday from 11 AM - 7 PM. Check the website below. It won't take long, and it's kind of fun. You'll even be offered some Poland Spring water. Check out that window shelf in the bathroom, and tell me it's not pretty.

Website for One Sunset Park.
(It's actually ON Sunset Park in the web address. I like that better. It's more accurate, anyway.)

Halstead's Listings.

Luxury Rental (available for sale as well) Surrounded by Homey Details

I believe in telling the whole story. At least as I see it. On the surface, well, on paper, the condos on 46th between 5th and 6th (what are they called? Nondos?) that are also up for rent sound great! "Sunny duplex with access to yard" and "laundry and storage available in the building" and the landlord is even willing to put in any type of flooring the tenants want. Wow! Three bedrooms, two full baths, new appliances...all for just $3400. I'm not making it up. Check it out on Craigslist and in the NYT.

I thought I'd help out prospective buyers/renters with some additional photos of the neighboring buildings and the view from the front of the building. So, what do you get for $3400 per month in rent or for $529k.

Here's the neighboring building. Notice the welcoming sign in the window.































And here is the view across the street from your half a million dollar condo (or $3400 rental).

Collection of Mini-Stories

1. The Post reports that a Falun Gong member was assaulted in Sunset Park:
'GONG' ASSAULT HATE CRIME: DA By ALEX GINSBERG

The Brooklyn DA is seeking hate-crime charges against a Chinatown man who attacked a Falun Gong practitioner with a steering-wheel locking device. Victor Yau, 60, is accused of smashing software engineer John Yu, a devotee of the controversial Chinese spiritual movement, in the hand on June 15 in Sunset Park. The clash followed weeks of simmering unrest between Falun Gong practitioners and critics in the city's Chinese-American communities.

2. Brownstoner.com posts that the funny-looking office building (just up the block from the GreenWalk condos) with confusing "smoker balconies" is finally ready for leasing.

3. Sunset Park doesn't seem to have any problem renting out apartments, even for a fairly attractive penny. This apartment, posted on June 27th and available for viewing on the 28th, has already been rented out. Of course, the infamous condos of 46th Street are still available for rent/for sale.