14 Hope Street Williamsburg : 100K price cuts

Yes, ask for another 20%.

still too high for w'burg and not in the nicest part either. agree with eric

It has a similar look to 72 Berry which surprisingly has moved very quickly in this market at similar prices. If the interiors have a nice lofty feel I wonder if they may attract as much interest.

nothing like 72 Berry except maybe the outside. The inside reminds me more of a Best Western.

has anyone gone to the open house recently? i actually like the location and amenities although i agree with Lookpied--maintenance is on the high end.

For what it's worth a few comments have been posted in brownstoner.com:

http://www.brownstoner.com/brownstoner/archives/2009/05/checking_in_on_59.php#comments

I do agree that the interior photos are not very impressive. I'm planning to visit soon. I'll update.

i actually really liked the layouts and there was a lot of light. location and amenities are also great. the finishes are awful though - really poor quality and really cheaply done. i agree with eric on pricing

Unfortunately after two trips to NYC I have not been able to tour the building. But it seems pricewise it is comparable to 2 recently marketed buildings which seem to be selling well (229 N 8th and 90 N 5th) Both have 6 listings each now in contract. Maintenance is definitely a difference. Maybe quality as well.

http://www.streeteasy.com/nyc/building/229-north-8-street-brooklyn
http://www.streeteasy.com/nyc/building/90-north-5-street-brooklyn

jj--can you explain exactly what finishes you are referring to? i was interested in checking out some units in this building--i love the location, parking and storage, and roof/terrace availability but i agree the maintenance is on the high end. are you talking about the cabinetry, plumbing, appliances, etc? all of the above (ouch)?!

They've got another 60% to go.

I don't care how nice the apartment is, no two-bedroom in that part of Williamsburg is worth more than $200K.

the price cuts could be due to the fact that Williamsburg sits on a toxic waste plum, or the machete gangwars in the hood, or the masive amounts of unbuilt capacity or the heroin hobos infesting the area.

14 Hope Street will get another overdue haircut.

yes maintenance is really high and for no reason. there are comparable maintenance costs in other buildings which have a 24-hour doorman, a gym, cold storage etc - this building has none of that so it makes no sense to have such high maintenance costs. As for the finishes - they used really cheap and poor cabinetry in the kitchen - probably wouldn't last more then a year. And the tubs, toilets etc look pretty bad too. And simple details like having a medicine cabinet behind the mirror in the bathroom etc have just been skipped all together. I love the location and would only bid if these places were 200k lower. Where prices stand right now is just insane.

jj--very sad to hear. i really loved the location and the building. i agree with you regarding the maintenance. what is that paying for?! i don't even think there is a gym or a doorman right?

yup - no gym and no doorman. i really love the location too - i think it would be okay if they just reduced the crazy maintenance costs and slashed at least 100k off the prices.

I visited the open house yesterday. I liked the layouts. Surprisingly more open and better ceilings heights the conveyed by their pictures. Great light especially in the south facing apartments. Quality of the cabinets although not the cheapest, aren't the best. Overall quality was good. VERY prominent airconditioning units in each room. You can use them as tables! You do get free bicycle and motorcycle storage but that definitely does not justify the maintenance. I do like the location although Saturday night there was a pretty happening party with a band in the warehouse apartments across the street. Nothing too rowdy and I kind of liked the activity.

Pricewise they are comparable to others on the market now. 25 year abatement is a PLUS. Maintenance is what would hold me back.

I noticed on their flyer:

Common charges include heat, hot water, and cooking gas

Is the 25 year abatement finalized? On their web site it still says pending...

I'm not sure exactly when Tax Abatements are officially in place, but this is not an unusual situation.

Maintenance is too high and personally I don't like the finishes compared to other buildings in the area, but then again asking price is cheaper than some.

I like the location though - its not as nice as the northside, but its still not quite into the sketchiness of the southside yet.

I went to an open house here and someone had thrown a bottle onto the 5th floor, breaking a window. Apparently being next to Hope Lounge is not the nicest location.

They must have been a professional quarterback or rightfielder to have hit the top floor and to have broke the window.

I forgot to ask if they are still offering a free storage space and half off parking and cabanas?

think amenities are really good around there? nice grocery, lots and lots of shops and restaurants and bars. easy to walk to JMZ or L altho i like walking anyway. can't speak to the units. but find havemeyer around there very pretty.

HH11231, it wouldn't have taken that much to break the window. They are literally the cheapest panes of glass one could buy.

considering making an offer tomorrow just deciding between a north facing apartment on a high floor or a south facing apartment on a lower floor, with outdoor space! I personally liked the building, the layouts were the best of what I've seen, and I've checked out about 10 diff condo units in the area. Yes the kitchen is not the best, but I'm not going to be cooking either. It works for me. I don't need a gym, the 5 block walk to the train will be enough. As for psf this one fit my budget best. I fig all renovations can be done at a later time anyway if need be, and then they will be done my way.