building at 550 Vanderbilt
Started by lrschober
over 10 years ago
Posts: 159
Member since: Mar 2013
Discussion about 550 Vanderbilt Avenue in Prospect Heights
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What neighborhood do you consider this to be in?
It's the rich-people component of Pacific Park, what used to be called Atlantic Yards.
The building sounds OK, and for the neighborhood you have to trust in what will be rather than what's there now. http://nyti.ms/1MwG51Z
How shared are the buildings and services among owners, renters, and regulated renters?
It'll be 14 separate buildings. 550 is a 270-odd unit condo. The other buildings will have 6,000 or so rentals, low-income, middle-income, and market-rate. There'll apparently be some kind of operating agreement between them and the city/state, to maintain the park that'll replace Pacific St.
Going by the Offering Plan summary, there won't be any rentals in 550, except insofar as any owner can rent out their unit.
And of course the city is giving the store away in 421a, so we'll all be paying for that.
And most of it will be on top of the LIRR yards, so agreements with the MTA, etc.
I would consider this to be Crown Heights. Maybe Clinton Hill. Prospect Heights seems like a stretch... I would think closer to actual Prospect Park for that. But I have lived in Manhattan all my life so perhaps my understanding of Brooklyn neighborhood borders isn't the most definitive.
OK, at least the pricing makes a little more sense if it is part of the Atlantic Yards project. But again, if there are DUMBO lofts on Washington Street with Manhattan and bridge views whose $/sqft is considerably lower than this development's... where's the motivation to invest in this neighborhood that isn't there yet, if it ever will be?
Vanderbilt ave below Atlantic ave is 100% Prospect Heights. Flatbush to Washington ave between Atlantic ave and Eastern Parkway.
Yeah, the prices don't make sense given that you are looking at a 45 min-1 hour commute into Manhattan each way.
This is 100% prospect heights. Prices are 1200-1500 per square foot, a bit over the area but closings will not happen for at least a year. You can also try to negotiate the price if you really like the units.