verdi in fort greene - any thoughts?

First of all, we see yet again an unabashed lie about square footage. Apartment 5A is listed as "1002" square feet. At best -- even counting the elevator shaft -- it's 700 square feet.

Second, the building is in a crappy location in a marginal neighborhood. The days of people dropping half a million dollars to live in a smallish apartment in a marginal neighborhood -- at least for the time being -- are O V E R.

There's a small one-bd (#2C) that went into contract a month ago, at $265k. Original ask was $365k.

It will be interesting to see where the deal that's now under contract actually closes. The listing was on the market nearly two years before it went into contract.

How many of these units have sold? The contract price is $500/sf, too high I think.

It's not a good location; it's too close to the BQE, in the shakier part of Ft. Greene. But the closing will affect values in the area.

I visited Verdi in July on a Sunday open house, right after a visit to Clermont Greene (I thought it was nice, but they were charging a gross premium). The units, especially the penthouses (5B) are underwhelming. You need a key (for the elevator) for the top floor. The unit I saw was small, with a narrow kitchen. The appliances are standard and terrace boasts magnificent views... of the BQE. Very depressing. The only bright side was the large circular window in the living room, which allows light. There is a backyard, but I forget it was shared or if it belonged to the unit on 1st floor. There is a shared roofdeck. There is one washer/dryer for the penthouses. I believe the other units have to share one for the entire building. 5A and 5B are still asking for 599,000? No way. At the time the broker said there were a few units in contract, which I knew was false. The location is egregious.

It should be near the bottom of the market, since the units are small, the construction is nothing special, the location is atrocious (near the BQE, away from the subway.). Either price accordingly (ie under $400,000 for 2 br, under $250,000 for 1 br), or rent the units out. This is a waste of time.