building at 10-17 Jackson Avenue

$400psf?!? Keep dreaming . . .

Any update on the building?

I went by recently and saw workers giving some final exterior touches to the building. Looks like the building's pretty much done. Surprised that there isn't any recent news about this building. Can't seem to find anyone who can give us an update....anyone??

I will have alot more info on this in the next 24 hours.

Andrew....looks great. Thanks for the post. http://afinecompany.blogspot.com/2010/02/10-17-jackson-its-condo-shower-with.html

You say the prices may be reasonable to begin. Any guesstimate as to p/sqft?

Thanks!

Hyphenated numbers in addresses is so ghetto.

does anyone know what the amenities are like? parking garage, decent sized gym, roof deck?

Does anyone have any new information on this bldg? I went to see some of the newer condos in LIC over the weekend and none of them really did anything for me. I am looking forward to checking this one out.

I think they don't start official sales until another two weeks or so. You could always call the number on their website to schedule an appointment. Hopefully they will not be too unrealistic with pricing.

Unfortunately, they're completely unrealistic with their pricing. It's a shame, because I actually like the building.

jcmil2-how do you think their 1br should be priced? Are you looking to buy in LIC or do you already live there?

I think that closing at or under $625 psf for their low floor apartments would be reasonable. Based on the comps I'm seeing, I believe that anything much above that would be overpaying. This is especially true now that there's a huge inventory of units with Murano, Solarium, LHaus, and 1VJ. Plus, this smaller building has fewer/smaller amenities, yet higher or equal CCs.

And to your second question, I am looking to buy in LIC.

I am very new to this, so correct me if i am wrong. So if a unit is 576sf you think it should sell for $360,000? I dont think that is possible anywhere, is it? I agree about the CC. I havent thought about that until right now though. They have a part time doorman and a small gym. Its nice, but I wonder why they are equal to the places that have full time doorman and rooftop patios/bbq areas, gyms, etc.. Do you think its because its a smaller building?

This whole thing is really stressfull!

I use price per sqaure foot as a rough guide to help compare apartments across buildings. Yes - the math there would yield $360k. That might be a bit low (again, it's just a guide), but other apartments in the area are closing for much less psf, and lower floor units in LHaus (which are much bigger), for example - closed around $375k; up towards $400k for the 6-8th floors. So I don't think $360-385k for the smaller, lower units at 1VJ would be wholly unreasonable. If smaller units aren't cheaper than larger units, then what's the incentive to buy them?? Essentially at the moment a Floor 2 595sqft 1VJ unit, a Floor 8 675sqft LHaus unit, and Floor 2 689 sqft Murano unit are all priced the same. As far as I can see, there's not enough additional value in 1VJ to compensate for the smaller size or lower floor.

The amenities and CCs are the result of the building size (fewer units to split the cost of doorman, no need for bigger gym, etc.) and design (small 2nd floor common terrace substituted for common roof area,etc.).

It is all very stressful, indeed. And I haven't found any good way to make it less stressful. My plan is to wait it out a bit and see what happens. I definitely want to buy, but not at such a ridiculous price that I will never be able to get out of my mortgage when I want to sell. My guess is that we'll see a slump over the summer - especially with a lot of new inventory - that may result in some price decreases.

1063Jackson has a 715 sqft apartment in contract at $594 per sqft. This is just as nice, if not nicer, a building as 1 VJ. This proves how crazy 1 Vj's pricing model is at 730-780 per sqft.

Any updates on pricing at 1 VJ?

rumor has it the prices have gone up in the past week.

1VJ 1 bedroom prices go for about $649K for a little over 700 sqft. Crazy! I'd buy a coop in manhattan at that range. Murano has much better pricing however, it seems like the materials used is pretty cheap-they called their hardwood floors oak pearl hardwood, which is a greyish finish, GAG! Also W/D does not come included- although not a big deal.

Any updates on pricing? What is PSF that has been accepted?