Big “Mews”: 9 College Place 25% Sold

By on January 24, 2012 3:59 pm in Real Estate

This is the best news that Love Lane Mews has offered in some time: The 38-unit condo complex at 9 College Place in Brooklyn Heights is now 25% sold, according to Multi-Channel News. In addition, the city’s Building Department has issued its Final Certificate of Occupancy.

Streeteasy’s latest figures for Love Lane Mews show nine units in contract, with sales prices between $1.4 million for a 1-bedroom and $4 million for three bedrooms. Unit 1C closed in late December, with the deed just recorded last week: a 2-bed, 2-bath 1,320 sf for $1.5 million. It entered into contract way back in February 2011. Love Lane Mews was developed by Manhattan Skyline Management Co., with prices from $825,000 to $3 million.

“We’re thrilled to be welcoming residents to Love Lane Mews, and to reach this important milestone in sales,” said Manhattan Skyline principal Laurie Zucker in a release, adding that it’s a testament to buyer’s tastes “to live on such a quiet, picturesque and historic mews in one of New York City’s most coveted locations.”

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  • tb

    Yeah but they’ve been sitting there empty for HOW LONG?
    And still, who is going to live in the 1st floor corner apartment?

  • stuart

    it was an unfortunate business decision. the property was just much more valuable as commercial parking. The waiting list was a year long. Fools. Not only will they go bust but they hurt the community who relied on that facility. A pox on them.

  • EHinBH

    Go bust? They are making a fortune. It takes a long time in Bklyn to sell luxury places – this is all built in to their plan.

  • resident

    I don’t know how true this statement is. This was an extremely complex construction job, and I’d imagine their margins aren’t as wide as they’d hope. Prices are still ridiculously high, and 25% isn’t much more than the number of places they’ve had in contract for nearly a year. To get rid of the rest of the stock, prices are going to fall.

    One thing they do have in their favor is that Sterling Equities (of Mets ownership fame) had to sell their share in the project, maybe this improved the project’s bottom line.

  • travy

    the glass is one quarter full!

    also, too, $1.4 million 1 bedroom? in brooklyn? lol

  • JT

    Why am I looking at a photograph of a carriage house, not the actual building, when I go to the “Love Lane Mews” website?

  • Loosh

    When did this place complete construction? When did they put the condos out for sale?

  • David on Middagh

    JT: You didn’t see the five seconds allotted to the soulless converted parking garage where the units actually are? Something might be wrong with your Flash plug-in.

  • bornhere

    I also find it odd that the “freeze frame” on the Love Lane site is of carriage houses on Hunts Lane. Why not, at least, showcase the houses on College Place?

  • ruben

    The developers bought the entire set of structures, as well as the garage on the east side of College Place for 10M from the Wilpons.
    Even with current pricing at 1100psf, they’re selling a minimum of 50M in inventory. Not a bad profit at all.

    It was a nicely done reuse of the buildings, although I think they are overpriced and have massive monthly charges. The Wall Street crowd can afford these.

    We had parked on Love Lane for over 20 years, and I still sometimes absent-mindedly head there when I need the car.

  • David on Middagh

    @bornhere: I too would like to know where advertising misdirection leaves off and bait-and-switch begins. It’s a weaselly come-on.

  • BH’er

    They should market the first floor unit for a reality tv-show or an alum of said genre

    It’s going to have to be someone who likes to live a more public life…

  • BH’er

    I agree – very strange that there are pictures of every building Except the one for sale!

    And an interesting list of businesses highlighted – they forgot St Charles Borromeo Church, The River Deli, Iris and a few other neighborhood gems…

    No wonder the units are still on sale!