The Real Deal New York

Goodbye Ishi, hello Mark Plus

June 23, 2011 02:25PM

Say ‘Hello’ again to the former Ishi condominium at 542 St. Marks Avenue in Crown Heights, the 36-unit building that’s returning to the market this weekend after a two-year break with a new name and an across-the-board price chop. According to Crain’s, Ishi, originally part of developer Eli Karp’s original Hello Living apartments brand, is to be called Mark Plus Condominiums from now on.

The building was at the center of a legal dispute last year between Karp and his investors, who had accused him of pilfering funds from the project. It’s not clear where that clash currently stands, but the building is now under anonymous new ownership, and Aptsandlofts.com has taken over marketing on their behalf.

“It’s an ultra-modern, loft style apartment building with 17-foot ceilings,” David Maundrell, president of Aptsandlofts.com, said of the project.

Its official re-launch is this weekend, with prices for one-bedrooms beginning at $289,000, down from $310,000 when the building originally launched sales two years ago.

Crown Heights is known as the cheaper alternative to Prospect Heights and Clinton Hill, said Ofer Cohen, who runs brokerage TerraCRG Commercial Realty Group. Prices for condos in Mark Plus’ stretch fall between $500 and $550 per square foot, compared to Prospect Heights’ $600 per square foot, he said. [Crain's]

Comments are closed.

MENU