Co-op of the Day: 273 Sixth Avenue FSBO

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Nothing like a good FSBO site to put your average broker listing to shame. Of course, when creating a nice listing, it helps if the apartment itself is a winner, which this three-bedroom on 6th Avenue between Garfield Place and 1st Street is. It’s a floor-through that actually works as a family apartment because of the 23-by-70-foot floorplate. The wood details look like they’ve been carefully restored and even the paint colors (although we all know that shouldn’t matter, right?) are spot on. We suspect there will be little disagreement about whether this is a nice apartment. What about the asking price of $1,025,000? Worth it?
273 Sixth Avenue, 3rd Floor [FSBO] GMAP P*Shark

0 Comment

  • Sounds right- very nice.

  • Lovely site, puts broker listings TO SHAME. A million is a lot, but I think this would have been priced higher by corcoran. The walk-up may give 321 families pause for thought.

    It isn’t actually full width all the way through, most of it is about 20 foot wide.

  • Very well done site and nice place.

  • Agreed. Very nice.

  • Very nice. I’m assuming it is zoned for PS 321. It says “around the corner”, which definitely implies it is in the zone, but if I were the owner, I’d specifically say “zoned” for that school, as well as around the corner, since they are two different things. (In NYC, it is possible to live right near a school but on the outside border of another zone.)

    Otherwise, excellent website. The utility room is a great addition to the apt.

  • Very nice, but three floors up over a million may be a stretch. I’d say it goes for 950.

  • i actually wouldn’t be suprised if it goes over a million. for people who love this place (looks terrific to me) they would pay top dollar. excellent site and location.

    how much would a similar place in manhattan be? 2 million? more?

  • We are in a seller’s market. A nice website and tasteful paint colors matter little to not at all in selling a house or an apartment.

    Instead of FSBOing, if the seller had given it one your so called under the radar agents and painted the apartment purple, it would still sell.

  • Very nice site? It’s a god dam template… from http://www.squarespace.com. All the seller did was upload the text and pictures…
    Go’s to show you how much of a newbi brownstoner is to the net, as well as Brooklyn.

  • 1:26, then brokers should be aware enough to have such a user-friendly template. The fact that it may be boilerplate is totally irrelevent. The point is that it’s clear and informative.

  • He called it a “nice listing” not a “nice site”. And it is – by far – a better listing in terms of providing lots of photos and a large clear floorplan than most broker’s listings do.

  • annoyed broker says..
    “All the seller did was upload the text and pictures… ”

    And the fact that the resultant site looks and works FAR BETTER than any Corcoran, Elliman, Brooklynproperties website says volumes as to what internet newbies these companies are!!
    Honestly, they are idiots. For the money they surely pour into outsourcing their websites, they SUCK, they are PATHETIC, they are designed to OBFUSCATE the negatives of a place and encourage those online to pickup the phone and wear out shoe leather finding out what the broker didn’t put online.

  • I love it! I don’t care if the website is from a template…the presentation works for me. As for the price, if it is zoned for 321, I would definitely pay pay this price. The location, the building, the renovations just work for me. The interiors are tastefully done–not cheap but not so fancy and different that you feel like you’re paying for someone else’s taste.

  • And I would add that it “go’s” to show how much brokers could learn from FSBOs….

  • 3 bedroom in 321 for 1 million? sounds actually cheap to me to me.

  • “Wall Street fell sharply for a third straight session Thursday after rising bond yields stoked concerns that an interest rate cut later in the year is less likely.”

    10 year bond has popped up to the highest in a long while, it’ll take a few weeks for mortgage seekers to realize they can’t afford as much as they thought they can afford, or those with cash to realize the higher opportunity cost or tying it all up in an apartment. Real estate market (and stock market!) is in a very vulnerable position entering the dog days of summer.

    My money is on more space in zone 321 for less money, by august ..

  • So what if it’s a template? It’s a nice site. The apartment is nice, too. Seems very fairly priced to me. And you can’t tell me it would sell as quickly (it’s going to sell quickly) or for as much if they hadn’t put so much thought and effort into the decorating and “marketing.” The decision to buy an apartment–or anything else–isn’t solely rational, and appearances (including paint color) are far from inconsequential.

  • If this apt is zoned for 321 it will sell well above asking….as for the listing it is great and as said before, it truly should be embarrassing to 99% of the brokers out there who have crappy websites with few pictures and no floorplans. I would attribute 95% of Corcoran’s rise in the late 90′s, early 00′s to their ‘best in class’ website/listings. Yet despite this major brokers still put little effort into upgrading their pathetic sites.

  • I’d like vent about the corcoran “best-in-class” website…

    1) the pictures are way WAY too small
    2) the site is frequently very slow or down completely (error message saying, basically, come back later)
    3) “new listings” are frequently just old ones recycled
    4) the RSS feeds are useless, craigslist does that better and it isn’t even designed for real estate listings
    5) listings show no original list date or price drop history, this is available elsewhere (trulia, streeteasy, natefind) so why make people search for it?
    6) pagination aspects of the site are broken unless you use IE. Do they pay for testing? they should get their money back

    there are a dozen other ways to make it more useful for buyers, but instead they waste time doing stupid stuff like a “weather report” for the open houses.

    vent over.

  • 1) it says it is zoned for 321 right up front (in addition to being around the corner).
    2) who the hell cares that it’s a template? why on earth would a person with a job/children/sex life design a site to sell their apartments when there are perfectly decent templates available out there?
    3) if anything, I think they may have put too much info on the site
    4) would think that it will sell for asking but maybe not more than asking after the first open house depending on the walk-up situation

  • 1) it says it is zoned for 321 right up front (in addition to being around the corner).
    2) who the hell cares that it’s a template? why on earth would a person with a job/children/sex life design a site to sell their apartments when there are perfectly decent templates available out there?
    3) if anything, I think they may have put too much info on the site
    4) would think that it will sell for asking but maybe not more than asking after the first open house depending on the walk-up situation

  • so you think it’s up the tall stoop and then 2 more flights inside??

  • so you think it’s up the tall stoop and then 2 more flights inside??

  • re: Corcoran’s website -

    It isnt perfect but it is far better then you get from its competitors, and I think this contrbuted significantly to its success. It is amazing that Corcoran’s website (which has more or less been the same for at least the last 7 yrs) is still significantly better then any competitors.

    As for your complaints, most are valid but come on – no brkerage is going to put how long a listing is on the market or the price drops – it is still supposed to be a SALES tool.

  • Corcoran’s site is awful and is still better than a lot of the other firms. But that weather thing has gots to go

  • Nice site, nice apartment. I like the separation of the public rooms from the bedrooms. Unless it’s a millionth-story walk-up, it should go quickly at that price.

  • Very nice place. Will freshdirect climb up two flights to deliver?

  • I’ll bet that if Corcoran or any other Brokerage put that much pics and info on for each listing that you folks would still have a complaint. It seems that the majority of folks on this blog LOVE, LOVE to complain about everything. How about seeing a few pics and getting the necessary info and actually going out to the Open House to actually SEE the listing – Instead of the super Wide angle shots and staged look.

    I will bet that most of the folks on here have sat on the fence and continue to sit on the fence. The only outlet is to ‘bitch’ on this blog.

  • Hey Anon. 2:06pm, I was the poster who asked about whether it was zoned for 321. I think the owner just changed it (now it does say it’s zoned for it). When I first clicked on it earlier, it just said “around the corner”. It’s funny to get such a quick response from the owner! Nice website, owner, and thanks for clarifying that.

  • i agree completely 2:39.

    anyone who would complain about this apartment, it’s website or anything else except possibly a little walk up some stairs, just likes to be negative and complain. it’s become the norm on this site and it’s ridiculous.

    if you don’t like this apartment, you SHOULD NOT BE READING BROWNSTONER.COM!

  • Hello,
    I’m the owner of this apartment, and I can’t tell you how much we appreciate all the kind words about our place and the website. It really means a lot.
    We’ve worked very hard on our place, and on the website. And thanks to Brownstoner for listing it.

    Just to clear up, we are zoned for PS 321; thanks for noting that, we changed it on our site.

    And, though it’s on the 3rd floor, it’s only two flights up.

    I would just like to say, that though we did use squarespace for the site, we did more than just “upload” pictures. We did “design” it, though the template was there.

    For the photos, we used a light kit and took many, many pictures of the space to make sure we showed it in it’s best light.
    It was a lot of work, but it was important to us to create a very useable and appealing site. We tweaked the website for about 2 weeks before letting it go “live,” and we’re still tweaking. It can always be better.

    Thanks again for all the great feedback.
    -Alex

  • anyone looking for a place in 321 knows that this is zoned for 321.

  • 2:39, all you’re doing is complaining (about the complaining).

    there is nothing to complain about here so just move along

  • Is there any resistance to the $1mm/mansion tax mark anymore?

  • Actually, anon 2:47, you are not correct. People who want 321 often come from elsewhere, and look in that neighborhood because the school is so well-known. In fact, there are now a few other schools in Park Slope nearly as good (some might say as good or better), but those are known more by parents already in the neighborhood. But 321 has become something to advertise to outsiders, sort of like PS 6 on the upper east side (I’m from Brooklyn, and I’ve heard that it’s a wonderful school but couldn’t even guess where the boundaries of its zone are).

    Thank you very much owner for all the information. Good luck.

  • Alex, this is lovely. And if we hadn’t just found a place I would jump on this one. So much space and so well done. I love that you put in sound proofing. Good luck to you and get ready for a lot of bids!

  • I agree it’s a beautiful presentation of the apartment – love the website! – and a very nice place. It helps that the current owners clearly have good taste.

    But aren’t 2 out of the 3 bedrooms awfully small? The third bedroom can’t be used as anything but a baby’s room. Or are the bedrooms in 3-bed apartments always this small?

  • 3 bedroom floor-thrus are difficult to find so, yes, you always get half a bedroom. Even in a 2bed floor-thru you get half a bedroom.

    SO this is a 2.5 bedroom apartment.

    Another “2.5 bedroom” fsbo with a similar layout, is here, if you are not addicted to 321 (which is over-crowded now anyway):

    http://realestate.nytimes.com/+comshare/vulisting.asp?Lid=253-NS7060628

    IMO this one is better value, seeing as you are saving $200k if you just give up a bit of space and a 2nd bathroom.

  • Of course the 2nd and 3rd bedrooms are small – this is New York City! If you want giant pleasure palaces for the kids with their own en suite bathrooms, try New Jersey.

  • 1:44 I hear you. This is a very worrying trend for the real estate market. If interest rate continues to rise, this is going to cause major trouble in the already faltering real estate market.

  • 3:21, you’re sacrificing a lot with that one, namely, you’re getting a 3 BR 1 BA – and with 3 bedrooms, who wants 1 bath? Not even a second, half bath. Yipes.

  • give it a rest 3:42, i mean, 1:44.

    this thread is about a lovely apartment in park slope not your own weird agenda to scare people into thinking that purchasing a home is a horrible thing.

  • I like the maint. on that one 3:21

  • Dear Alex,

    Your apartment looks great! I think you will do well.

    an anonymous broker

  • Beautiful apartment and beautiful presentation. I’m not in RE, but I just bought and have been helping a friend apt-hunt for the last six months. The price maybe a little tricky because $1 million triggers the mansion tax, so if I’m a betting man, I’d bet it goes for $999,999, though you may hit the jackpot with someone who doesn’t care, or even get a bidding war going. Good luck!

  • Notwithstanding the opinion of the wise old-school net guru (lol) at 1:26, I agree that it’s a beautiful presentation and I think you’re going to do great with this… Fwiw, we (and Corcoran) just sold essentially a doppelganger of this apt (3 bdrms, 321, 3rd floor walk-up; only diff is that we’re on a name street btwn 7th and 8th and we only have 1.5 baths) in March. The orig price was a bit more, and we got roughly 10% above ask.

  • 2 1/2 bedroom? Not sure I get that logic. It’s a legit three bedroom with a decent-sized office, a utility room and a good layout.

    And it’s a polished presentation of a polished apartment. Good luck seller!

  • I love the transoms over the bedroom doors.

  • Having the extra bathroom AND the utility room is huge, in my opinion. Makes this much more desirable.

    I think everyone has their own preferences for bedrooms. I’d rather have smaller bedrooms (even the master), but much larger common spaces. Some people like larger bedrooms. That other 3 bedroom seemed to have larger bedrooms, but not as much common area, although there was no floorplan on the link, so it’s hard to tell.

  • This is too funny. I wish I could lock in a monthly nut of $7K for a 3.5K apartment! And it’ll look even better when prices tumble this fall. Irrational exuberance, it’s a beautiful thing. But I forgot, prices only go up.

  • Of course, this is New York and something like this could never happen here. Never has before.

    MLS ID# 70530983
    175 WAVERLEY AVE
    NEWTON, MA  02458
    List Price: $699,000
    Prior Sale: $860,000 8/3/2006
    Prior Sale: $360,000 6/30/1987

  • Of course, this is New York and something like this could never happen here. Never has before.

    MLS ID# 70530983
    175 WAVERLEY AVE
    NEWTON, MA  02458
    List Price: $699,000
    Prior Sale: $860,000 8/3/2006
    Prior Sale: $360,000 6/30/1987

  • apologies for the double post …

  • Hi, I’m the owner of the FSBO apartment mentioned by 3:21. I think the apartment of the day is quite impressive, and I like their site. I noticed that someone commented about the lack of a floor plan for my apartment, but I just want to clarify that it’s on the NYT site:
    http://realestate.nytimes.com/+Comshare/VUListing.asp?Lid=253-NS7060628

  • Hi, I’m the owner of the FSBO apartment mentioned by 3:21. I think the apartment of the day is quite impressive, and I like their site. I noticed that someone commented about the lack of a floor plan for my apartment, but I just want to clarify that it’s on the NYT site:
    http://realestate.nytimes.com/+Comshare/VUListing.asp?Lid=253-NS7060628

  • This is a beautiful apartment, no doubt. The only downsides that I can see are that it has no outdoor space, and the maintenance is kind of high. But compared to other 3 BR’s in this area, it definitely seems like a fair price. Compare this, for example, to a Brown Harris Stevens listing just down the street at 313 6th Ave – see http://www.bhsbrooklyn.com/detail.asp?id=435409
    They are asking 1.15M and the layout seems kind of strange… I think this FSBO is a winner.

  • walk up apartments (aka tenements) are for young adults starting out, for poor people, or for people on rent control. To invest major money in a walk up as if it were luxury housing is a mistake in MMO.
    Hopefully no one in the owner’s family will ever break a leg or have to be on crutches or worse, a wheelchair.

  • Sorry 10:05pm but I must respectfully disagree. There are tons of walk-ups throughout Park Slope, and I don’t think Park Slope now is full of just young, poor people, or those on rent control. It’s just a fact of city life, like street parking, or smallish bedrooms, that people put up with stairs even when they are paying very high sums for real estate. Generally, it seems like the apt bldgs with elevators are either the full-service types (which can be on the antiseptic side) or new condos, which IMO appeal to a slightly different buyer than those who are digging the old Bklyn charm that this FSBO oozes.

  • Even without the outdoor space, small bedrooms and walkup I think this place is a winner for the price. I don’t think the maintenance is that high for a 3 bedroom.

    Given the nice layout, quality of the apartment, and overall size I think it will go asking price or higher.

  • A third floor walkup is not a tenement. If you want to stay out of a wheelchair in your old age and live a longer healthier life, a walkup is a good choice. Nine or ten floors would be better, but three is something.

    Besides a 3 to 4 million dollar tenement apartment in the city costs more than most houses in Brooklyn. Actual tenement apartments are generally in much better locations, they have high ceilings, and over the course of the last 100 years have been gutted and had bathrooms and other modern day essentials added.

    I hope we don’t have to hear the “a family of four needs at least 8000 sq ft with six baths and twelve dishwashers!!!!” arguement again. That and the troll’s “I was shot 57 times on the PLG House tour!!!!” just wears out my eye rolling muscles.

  • that 3:21 place seems by far the best value.

  • what’s the AC situation? I assume there is no central, but I also don’t see any window units

  • Oh, bitter 7:41 & 7:42, always crying about the impending skyfall and preaching doom and gloom.

    Given the high transaction costs of buying and selling real estate, not to mention the general pain of moving, people do not panic and sell at the hint of a rate hike or decline in propery value.

    If you are in a place for about 5 years, you will likely ride out any downturn.

    If you do have to sell for less than you paid, then whatever else you buy will be less money as well.

    The key is to have enough equity in the property so that if you do have to sell for less than you paid, you will get back at least what you owe the bank.

    If you can’t manage 20% down and think you may have to move within 5 years, then do not buy an apartment.

  • “walk up apartments (aka tenements) are for young adults starting out, for poor people, or for people on rent control.”

    sorry but this is idiotic on many levels. do people not spend millions of dollars on mansions in the suburbs with often 2, sometimes 3 flights of stairs.

    are you stupid???

  • Norman Mailer lives across the street from me in a 4th floor walk-up. (An issue now but not an issue until recently)

  • Open house was busy, but not overwhelming.

    The place is quite nice — the pictures do a fine job of capturing the apartment’s unique touches.

    My guess is that it goes for slightly over asking price, very soon.

  • nice touches yes but doesn’t it really come down to space in the end? the bedrooms are small, the hallway extremely narrow and there is very little closet space. my guess mid 900s

  • mid 900′s for a 3 bedroom in prime park slope??

    you don’t know the market too well do you.

  • I saw this apt at the open house yesterday. It is nice, but I am guessing it goes for mid-900s. One bedroom is not a true bedroom, but rather a nursery, and the other bedroom is small overlooking a brick wall. Not much closet space. Very narrow hallway. No outdoor space. And up two flights of stairs. In addition, you can’t overlook that interest rates are rising and buyers are much more hesitant now than they were a year ago.

  • Were there any offers on this appartment?

  • heard it ended up with an accepted offer quite a bit over the ask.

  • “Quite a bit over the ask”! Paying over $800/square foot (apt is about 1300 square feet) in Park Slope is REALLY overpaying in this housing market. I think Park Slope has hit a peak. It sounds to me like this buyer REALLY overbid! They’ll be regretting going that high on an apt in Park Slope in the coming months.

  • “Quite a bit over the asking”??? I am happy for the owners because it looks like they spent a lot of effort renovating and they do have great taste, but this is way out of whack. I can hear the air hissing out of the real estate bubble as I type this.

    Yes park slope is great, it has a great school, but its far, far away thus should be somewhat cheaper than Manhattan.

    I have decided to sell my park slope apartment and move to manhattan. I hear there are some real bargins over there.

  • I agree with the last couple comments. The housing market is poised to take a fall. With interest rates rising, economists are forecasting a MAJOR drop in housing prices. This apartment looks nice, but you cannot overlook that it is in Park Slope and it is WALK-UP.

    Park Slope has seen a large increase in prices over the last year and with the increase in inventory (new condos), I doubt these prices can hold. This apartment will probably sit at the inflated selling price for the next 5 years (if not decline slightly).

  • totally agree 11:01. Who ever bought this better want to retire it in. though i guess the 3 flights of stairs might be a problem then.

  • You have clearly not been watching the prime Park Slope market lately…the asking price would be a steal for this place. I have seen it and it’s a great apt. I have been watching sales of 3 br apts for a year and this is a great price. Beautifully restored original elements throughout. I heard there were five bids. Lucky winner.