12-Story White Glove Condo Hits Park Slope Market

INDUSTRY NEWS

12-Story White Glove Condo Hits Park Slope Market
July 02, 2009

By Anuradha Kher, Online News Editor

New York--500 Fourth Avenue, a 12-story white glove condominium in the Park Slope neighborhood of Brooklyn is now open for sales. It is expected to be complete by late fall this year.

The project will feature 156 studio-, one-, two- and three-bedroom residences ranging in size from 539 to 1,456 square feet and priced from $342,000 to $1,077,000. The building will also feature an approximate 3,000 square-foot duplex townhouse priced at $1,426,000, providing a unique opportunity to own a new-construction townhouse in this historic Brooklyn neighborhood. All homes will benefit from a 15-year, 421-A tax abatement.

“These prices are about $100 to $150 less per square foot because of the changed market and economy,” Joyce Kafati-Batarse, senior vice president of Prudential Douglas Elliman, tells MHN. “Since the sales center opened three months ago, 20 percent or 30 units have been sold and we are getting a lot of traffic daily.”

The project features white glove services and high-end finishes including limestone, Italian marble and rich natural white oak flooring. Kitchens feature a full Viking appliance package complete with commercial-grade ovens and separate cook tops, French-door refrigerators with filtered water system, microwaves and dishwashers. Manhattan Calacatta honed marble countertops and custom-made grey oak hardwood cabinetry with space saver pullouts and soft-closing drawers are set against a stunning snow and ice honey Onyx and frosted glass backsplashes. A majority of the units will also have balconies.

“500 Fourth Avenue features incredible amenities and services, exquisite high-end finishes, while maintaining low common charges, and a 421-A tax abatement,” says Kafati-Batarse. “Our goal was to make a product that responds to the character of Park Slope and is not the cookie cutter apartment,” she adds.

500 Fourth Avenue also features 5,000 square feet of amenity space. The Club 500 lounge allows residents to host social events, business meetings or private screenings. It has a large LCD television, kitchenette, plush seating and a gaming area with a pool table, all of which can be sectioned off to suit all of residents’ entertaining needs.

In addition to Club 500 there is a 2,500-square-foot landscaped terrace and fitness area; solarium for yoga, dance, meditation and stretching; and a children’s playroom.

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