Co-op of the Day: 200 Hicks Street
This three-bedroom co-op at 200 Hicks Street in Brooklyn Heights is gorgeous. The recent renovation managed to inject a modern, light feel to the place without stripping it of its prewar character. (For some reason, we don’t even mind the recessed light–perhaps because it’s embedded in the soffit.) While the listing doesn’t say so explicitly,…
This three-bedroom co-op at 200 Hicks Street in Brooklyn Heights is gorgeous. The recent renovation managed to inject a modern, light feel to the place without stripping it of its prewar character. (For some reason, we don’t even mind the recessed light–perhaps because it’s embedded in the soffit.) While the listing doesn’t say so explicitly, we’re guessing that this is the ground floor unit, based upon the shape and size of the windows. This is the only negative we can find with this place, but it may prove to be a meaningful one given the asking price of $1,995,000. Thoughts?
200 Hicks Street [Brown Harris Stevens] GMAP P*Shark
In contract.
Sigh…
You could expect that, but I don’t think that’s the reality in the BH market
I suspect this will be in contract in two weeks. Just like the place everyone here slammed for being 3.5mm in One Pierrepont.
9:35 – Per my conclusion, I think that this place is over-priced. I was just trying to give a base line for what 3 bedrooms in BH were trading for in 2006. I don’t agree that a broader swath of comps is appropriate, since there is a really dirth of 3 bedrooms available in BHs. I’d expect that based on the economy generally and the layoffs on Wall Street locally that 3 bedrooms in BH should be trading at a discount to the $1,000 psf of 2006.
What a wheeze it is when Americans try to be posh. And live in a high-rise too! I have to tell the chaps back home.
I’ve been looking at several buildings near this one recently with 2 and 3 BR and have noticed no slowdown/softness. If anything, the high-end BH market has gone up from 1 year ago. There are still multiple offers within days of listing, all-cash offers, etc. Definitely a seller’s market.
There are plenty of upper east side 3 bedrooms for sale at the same price, in doorman buildings, for a lower maintenance. So that means Brooklyn Heights now commands the same price as Manhattan. Granted, those upper east side buildings may not be so-called “white glove”, but apparently posters above believe some people will pay a huge premium to live in such a building. Because by any other measurement, this is a fairly small 3-bedroom apartment and a larger one can be had in Manhattan for the same price.
There aren’t too many 2-bedroom “dumps” on the UWS going for 1.8 million — I just did a quick search to see. There were plenty of 2-bedrooms to be had for 1.2 or 1.3 million, so perhaps those are the dumps.
turnips would! Vegans (healthily so- but with a dash of couch potato in the genes).
having lived in BH for quite a few years, I did love it there. I saw a great middle class neighborhood that was racially mixed turn into a high priced, very trendy community that no longer felt comfortable or welcoming. I guess when you go into the vegetable stand and you don’t recognize the fruit it’s probably time to go 🙂
I miss how convenient it was to the subway though. 5 minutes to anywhere – wasn’t such an advantage on 9/11 though. Between the losses in the neighborhood, the bomb scares, the security issues, it got to be too much. Now where I was is unrecognizeable with all the construction.
6:18 – re: apts in BH for $1000 sf last year – we recently sold our apt though were considering selling it last year. Last year, we had numerous brokers give us a price, and when we put it on the market in Feb, we were actually told to list the apt for a little less than we were told last year – and that was before the Bear Sterns debacle and the increasing signs of weakness in NY market (anyone notice NYT now added a new column called “The Sell” about places that are hard to sell?). So prices have not really gone up since last year and my point was that 1000 psf is a premium for prime neighborhood, prime apt – so is *already* factoring in those variables. As someone else pointed out, if you take a broader swatch of BH apts, the median psf is in the $700s psf. So charging what amounts to $1300-1600 psf (depending on the square footage which is still a mystery) is really hard to fathom – I strongly doubt there are *any* comps to support that. So, if someone buys at this price, they sound like a sucker to me.