Co-op of the Day: 125 Eastern Parkway, #5E
This one-bedroom at 125 Eastern Parkway in Prospect Heights has been at it awhile: It started out with Douglas Elliman back in February with a price tag of $419,000; it was pulled after a couple of months, though, and resurfaced in June under the care of Corcoran and with a new asking price of $389,000….
This one-bedroom at 125 Eastern Parkway in Prospect Heights has been at it awhile: It started out with Douglas Elliman back in February with a price tag of $419,000; it was pulled after a couple of months, though, and resurfaced in June under the care of Corcoran and with a new asking price of $389,000. Seems like a nice solid prewar one-bedroom, doesn’t it?
125 Eastern Parkway, #5E [Corcoran] GMAP P*Shark
NOP, thank you for your answer. Actually I had a reason for asking and I intend to reply. At the moment, I am blogged out! :-/ :-\ Thank you so much for your time and your answer. Later . . .
BrooklynSoFar:
Eastern Parkway’s decline came in two waves:
With the Great Depression, many of its big apartments were subdivided to make them affordable (just as they were in middle-class areas of Manhattan). Then, in the early 1960s during suburban “white flight,” many landlords let their buildings go.
Today, the parkway is still one of the city’s most beautiful streets, and the astronomical price (from my standpoint) asked for a little apartment like the one at 125 speaks of its rediscovery by middle-class people. The buildings, however, are strictly hit-or-miss.
Turner Towers, Copley Plaza, 125, The Woodrow Wilson and other co-ops and condos appear to have held on or are in the midst of coming back. Some, like the Martinique, apparently a rental, look to be in bad condition from the street. Because it’s always been monumental and rather lonely at night (even when I was a boy), potential buyers should measure the importance of having the convenience of the park, museum, library, gardens and subway against having to walk or drive to shops and services (and walking from the subway to their front doors in the dark, which is why my mother didn’t move the family to Number 201, even though it was a “good” address at the time).
I’ll admit that when I visit Eastern Parkway I grow a little wistful, especially when passing Number 25. When I was a boy, my friend K lived there in a comfortable, rambling apartment. Now this neo-Georgian building is entered through rusty metal-plated doors, the rest of it appearing in very poor shape.
But with the opening of On Prospect Park and new condos rising at Franklin Avenue, I imagine this part of the parkway will pick up in the next real estate cycle. (How long from now, who knows?)
Four hundred thousand for a one-bedroom here? Not in today’s market!
NOP
Unlike my spelling…
> Turner Towers is, I believe, 135 Eastern Parkway.
NOP is correect.
Dear Nostalgic O.P.A. at 2:40 PM
1. ” . . . appears symptomatic of the street’s decline.”
NOP, regarding your knowledge of the history of this area –were you around there when the area went into decline in the late 1960’s to early 1970’s ? If you have time to answer I’ll check this thread later and get back to you.
NOP, what do you think of the street now?
2. For anyone considering this place, it appears to have light and be on the 5th floor. I’d like to know what side of the building the windows face (must not be Museum or they would say so as an incentive).
As NOP said, this does not seem to be Turner Towers. There was much written about T.T. on Brownstoner a couple of months ago. Someone had knowledge that T.T. needed extensive plumbing and elecrical work due to the building’s age. I wonder how this building would fare with those concerns. An interested party may consider checking into that. This close to the subway is a great asset.
Turner Towers is, I believe, 135 Eastern Parkway. It and this building share prime Eastern Parkway frontage, one of the best stretches of my old neighborhood, Crown Heights (which is what we called it back in the 1950s).
The buildings range from the restrained neo-Georgian Theodore Roosevelt and Martha Washington, to the neo-Italian Renaissance palazzo Copley Plaza, to the over-the-top Martinique, which looks like it stepped from Paris by way of Budapest. A terrifically eclectic brew representing Brooklyn at its peak just before the Great Depression.
This little unit appears symptomatic of the street’s decline. The plan and inconsistent wall treatments indicate it was carved from a much larger apartment. Even during the 1950s there were enough such places left along the parkway: sprawling three- and four-bedroom pads as big as houses, making visits to my pals real fun. Down the wide parkway, across impressive lobbies, up elevators and into homes that seemed to stretch forever (with, from the upper floors, knock-out views of the Botanical Gardens or, from the back, the Manhattan skyline).
I had friends on the parkway from Brooklyn Avenue to Grand Army Plaza. One by one they left as the neighborhood “changed.” Interesting to see a little one-bedroom asking nearly $400,000 now, a fat multiple of the prices for the suburban houses where they moved. (Of course, you could buy a three-bedroom at the Dakota back then for $25,000!)
Nostalgic on Park Avenue
Although the pictures don’t seem to be Turner Towers, admittedly. Is the address wrong?
Or maybe I am wrong. Bah.
Shouldn’t it be more considering that’s Turner Towers?
Eh, I’d say it’s more than a small step up from a studio. But price does seem too high.