University Towers is a three-building, 549-unit cooperative housing complex on the Fort Greene-Downtown Brooklyn border. Built as rental housing in the late ’50s for Long Island University faculty and staff, the group of buildings was converted to a moderate-income cooperative in 1989. At the time, prices ranged from $41,000 to $46,000 for studios; $67,000 to $92,000 for one-bedrooms; $94,000 to $125,000 for two-bedrooms and $127,000 to $141,000 for three-bedrooms. Now there’s a, 1,100-square-foot two-bedroom for sale for $530,000. The apartment has been recently renovated, with a surprisingly decent job done on the kitchen and bathroom. As for comps, there were two apartments of undetermined size that sold in the high $500′s at the end of last year. What do people think of UT as a place to live in general, especially now that several luxury condos are springing up in the immediate vicinity?
University Towers 2 Bedroom [Craigslist] GMAP P*Shark
PERSPECTIVES: Downtown Brooklyn [NY Times]
Homepage [University Towers]