Are Love Lane Mews Condo Prices Insane?

By on June 24, 2014 7:53 am in Real Estate

Curbed ponders the escalating prices of the Love Lane Mews condos. Built on the site of, among other things, a former parking garage sellers are getting well over asking price. Like a million dollars over asking.

Curbed: …which makes this new Love Lane Mews listing very interesting. A two-bed, two-bath duplex with a large private terrace, it was purchased in 2012 for $2.04 million and has now been put back on the market for $2.675 million, or $1,584 per square foot. Considering the very recent history, the owner could possibly get away with asking even more. This is definitely one to keep our eye on.

So what do you think? Over priced? Just right? Time for YOU to sell and move to a tropical island?

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  • Karl Junkersfeld

    Found one of my old video’s with additional information regarding this very successful condo development:

    https://vimeo.com/47031174

  • Daddyo

    I still miss Hope, Levi, Wylie and the rest of the Love Lane Garage crew. Kinda freaks me out to stand in someone’s living room and point out the spot where my sedan used to reside…

  • Chubby Burkhardt

    I don’t see how increasing real estate prices is a bad thing. Particularly if you happen to own real estate in the neighborhood. If people are willing to pay that price then good for the owner.

  • Karl Junkersfeld

    Chubby,

    I love the fact that prices are increasing in the neighborhood which reflects tremendous DEMAND. People want to live here and that’s great. Surely, though, you can appreciate that average people cannot afford to live here any longer and that affects the fabric of the neighborhood. Everybody I talk to is wealthy. Not a whole lot of diversity. Losing touch with the common folk, “What Do The Common Folk Do?

    https://www.youtube.com/watch?v=aFZQr3JrpaI

  • Heights Observer

    Thanks for pointing out the obvious, Karl. I am Brooklyn born and bred and I don’t think that I would be able to afford to buy or rent or live in the Heights today. I don’t even know if I’d want to. You used to find a real diversity in the Heights. Old school types whose families had lived here since the day one – original family inhabitants of their brownstones – who happily mingled with new transplants, gays and other bohemians who all seemed to blend in. There were normal stores of every type and good places to eat and shop. Where have all the normal people gone?

    What good are increasing real estate prices if they act like golden handcuffs and keep you trapped?

  • HenryLoL

    Diversity has nothing to do with money! So tired of the whole us versus them mentality that the liberal media and politicos have held up to win votes for years and years. We have people from all over the world living in the Heights. Lots of interesting points of view and diversity. As for prices, we are still cheaper than most of manhattan and have many hundreds of mitchell llama co-ops, section 8 housing, etc. Yes, a Brownstone costs 7-10 million. In the west Villiage it would be 15-20. This is City living. It was not better before. It is not better now. Things change.

  • Heights Observer

    Sorry, but diversity does have something to do with money. If a brownstone costs 7 – 10 million in the Heights, that cuts down on the middle class and below as to who can afford to live in the area, and that was Karl’s point. He said “Everybody I talk to is wealthy. Not a whole lot of diversity.” Too true and only a rich person can afford those prices. We are headed to become as bland as Manhattan mayonnaise. That blandness is the very reason Brooklyn has surged in recent years. People are looking for what used to be the real New York that is now gone from many areas in Manhattan.

  • HenryLoL

    But the same people could not afford the brownstones back in 2002 when they were 2 million… It’s the same crowd – just richer.

  • Andrew Porter

    Is this the same place that was part of the BH House Tour in May? I noticed that all the windows in the place had no screens—perhaps the owners didn’t permit those trashy mosquitoes in their house.