Ping Ho, Home Buyer in 10011

Does anyone have an opinion about the outlook for downtown Brooklyn, particularly the new mega condo apartments -- be@schermerhorn?

Asked by Ping Ho, 10011 Tue Jun 22, 2010

I'm looking to purchase a new 1-bedroom and have looked at that particular building. It's all pretty and reasonably priced, but I'm concerned that the developer won't be able to reach their 50% contract threshold, and that I'll have trouble renting my apt out in the future due to a glut downtown.

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Brian Moore’s answer…

The above is a good article about downtown Brooklyn. In my opinion, this area will see some huge but great changes in the future. Some big developments could be around the corner!
1 vote Thank Flag Link Wed Aug 8, 2012
Apartments in 189 Schermerhorn are currently selling at $1,000 per square foot in this current market.
0 votes Thank Flag Link Sun Jun 1, 2014
I am also interested in this building too. I have the same concerns expressed by Flaneur. They are willing to cut down about 2 - 5% from asking price. (hush, hush).

I'm still pondering if I could have negotiated a way for them to include parking. Any ideas if this possible?

Flaneur, have you already made an offer to them? If yes, were you able to negotiate your price as well? Would it make sense for us to hold until it reaches a certain %? If so, I want to know if I would be able to negotiate a better price as well.

Here's what I feel about the location:
- Very close to the redevelopment of Alantic yards (Good for the neighborhood) - More shops, people, etc.
- Close to Brooklyn Heights
- Close to Subway lines
- 10-15 minute ride to the downtown

I might be missing more interesting and potential facts, but otherwise, I think this area will grow alot in the next 3-5 years. I'm not a real estate expert, but I know when there's good to come. I said the same thing about Hoboken, Williamsburg, Fort Lee, etc. during the 90's.
0 votes Thank Flag Link Thu Jul 8, 2010
My opinion...if you are going to buy in Brooklyn, you should buy a property that emanates all that is best about Brooklyn. Feel free to contact me to discuss further, or to speak about other options...
Web Reference:
0 votes Thank Flag Link Wed Jun 23, 2010
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