Explain Sale at 1 Hanson Place #32A

what aspect doesn't seem real? High price for a closet? Low price for an "apartment"?

If it were in Manhattan it might make sense. There are things approximately like that in Tudor City. Fort Greene, not so much.

It's been sitting on the market and it is probably going to continue to sit.

People need to be careful about over-improving very small apartments. Renovate if you must, but understand that if you do a high-end reno you won't get much of that money back at sale. There's nothing to be bitter about, that's always been true.

{Manhattan real estate agent.}

It's the old Williamsburg Savings Bank, isn't it? That conversion has been the poster child for Brooklyn excess.

Whenever I hang with my old Brooklyn friends and the subject of real estate comes up, they always use this building's prices to make fun of.

Apart from the inflated prices, I'm not sure how I would feel in that building. You could argue that the location is very "central," but then, again you could also describe it as a parking lot.

It would be mandatory would be on a high floor in that place, and even then, are they still going to build some of Ratner's construction projects? Won't those all be nearby?

"century old treetops"

#32A is leftover space, intended to be sold as a separate office or guest room for another unit. The kitchen has to be there to meet code.

It's leftover because the layout of firestairs and elevators doesn't permit it to be part of the other two apartments on the floor. I.e., if part of B, then C wouldn't have access to the southern firestairs.

On other tower floors with just one full-floor unit (e.g. 29) that's not an issue, so the A space is a little third or fourth bedroom.

As a stand-alone apartment it's unlivable.

Does it really have a window in the closet?

I wanted to take a look at this just to see how small it really was but never got around to it. It's in contract now. There's another one that just hit the market that's a bit smaller than this one for about 20K more.

My sense is that you ought to see these places before passing judgement. The high-floor apartments in One Hanson are shockingly lovely, and the views are unlike anything else - literally. There is no other 32nd floor apartment in this part of Brooklyn.

I had been pretty dismissive of this development at the initial offering prices, then snorted knowingly at the uptick in carrying costs. Then a client brought me to the building (I know, it's supposed to be the other way around) after I attempted to find him a better deal in another pre-war condo (Belltel, 110 Livingston, etc). The One Hanson apartment was vastly superior - in finishes, amenities, price, and view - to everything else I had shown him. Lucky for him we got our offer in before they ran the prices back up again.

Which isn't to say that's an ideal layout for a studio. But I can see why someone would buy it. If you get a chance to check out their open houses, I recommend it - it's like a trip to the Empire State Building, minus the tourists.

Tina
(Brooklyn broker)