5th Street Lofts (5SL)

Way too expensive for the area.

what's the average amount $sq ft for LIC apts?

I think general consensus for ave $/SF in LIC hovers around the $800 mark. That's definitely for new condos only, but there's not that much old residential housing stock relatively speaking. And that's just the word on the street. I looked it up on Trulia and it returned a result over $1000/SF and that doesn't seem right. But who knows... it could be. If I had to bet, I would bet on around $800/SF though.

What the heck is up with this building? They raise prices, cut prices, and then raise prices all within a short period. And then this on-top of the announcement that Tolls Brothers posted its first quarterly loss in a decade. You would think the sponsors would do anything to start moving units.

I've been closely watching Halstead's website listing of 5SL units, and never saw the price changes that were claimed by StreetEasy.com, EXCEPT for only one apartment, 4K, that did come down in price for one week recently. So I have to say I'm not convinced the price changes were real, that is, actually lowered by the Halstead brokers. Someone would have to tell me that they have true confirmation from the sponsor or the broker that such adjustments were made. Could this have been a stunt?

Anyone have recent thoughts on buying here or on LIC? Seems like they are still selling at 700 to 800 for a square foot. But really nice place.

Forget listing price.
Depending on the units, you can pick one up in the mid to high 500s. It's one of 2 buildings in LIC that is worth the price. The good thing about 5SL is, it's more than 90% sold. One thing though, most of the people bought in the mid 700s..you might run into those nasty envy folks that see you got in at 30% cheaper.

Get real! $744/square feet + $1000/month maintenance to live in queens? Who are you trying to rip off here?