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Development Update-o-Rama: Special South Slope Edition!

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And now, to the South Slope of Brooklyn, where via an article by Max Gross in today's New York Post, we're gifted with updates on several of our favorite* (*relatively speaking—this is the South Slope) developments in the nabe. The overall vibe? "A lot of buildings are switching to rentals," says one observer. Shocking, truly. But as for the rest:

1) 500 Fourth Avenue: Units—156 of them in total—in this Robert Scarano monstrosity, long a Curbed favorite, underwent a slight PriceChop of "$100 to $150 per square foot." Still: percentage of units sold to date: around 15%. (You kind of do hate to see that.) Might have something to do with the fact that prices still hover around $1,000 per square foot? Maybe? Anyone? (To be fair, 500 Fourth won't be complete until this fall.)

2) Classic Modern: The South Slope's (rather half-baked) answer to the Lower East Side's Switch Building at 556 Fifth Avenue is fairing better, with five of its eight units having sold. One of the remaining units for sale just underwent a $50k PriceChop.

Click on through for more updates on the likes of 228 16th Street and its ilk.
· Due South [NYPost]

500 Fourth Avenue

500 Fourth Avenue, Brooklyn, NY