Co-op of the Day: 101 Lafayette Avenue, #4D
This fourth-floor one-bedroom at 101 Lafayette Avenue in Fort Greene looks great to us—except for that kitchen, which couldn’t be more characterless if it tried. Still, the co-op apartment has three exposures, generous proportions and nice layout. Given the new pricing down the street at the Forte, though, and that kitchen, the asking price of…
This fourth-floor one-bedroom at 101 Lafayette Avenue in Fort Greene looks great to us—except for that kitchen, which couldn’t be more characterless if it tried. Still, the co-op apartment has three exposures, generous proportions and nice layout. Given the new pricing down the street at the Forte, though, and that kitchen, the asking price of $525,000 may be a bit aggressive but probably not by that much: After all, there’s not a lot of prewar apartment building product in Fort Greene and this one has a lot going for it.
101 Lafayette Avenue, #4D [Corcoran] GMAP P*Shark
i saw this apt too recently.
1. The kitchen is completely insta-cheapo. Needs a complete reno ompared to the recent closing of a 1st floor apt with TWO baths and a completely new kitchen w/granite countertops & elegant AND new windows that are better at sound-buffing which closed in the mid $400k.
2. no bathrm images posted because the bathrm has cheap white plastic shower head and overall needs more upscale details
3. the maintenance of this bldg is significantly higher than the avg Fort Greene maintenance range.
4. NOISE! although big, the windows are completely old and don’t block any of the street noise. Could hear the rattling of a dog’s collar across the street–WITH THE WINDOWS SHUT. No insulation from noise, heat nor A/C in the summer. Really going to be a $-guzzler in the summer since it will be hot.
5. Only 2 exposures.
Don’t know if anyone has any insight but i keep finding that Fort Greene 1bdrms are significantly more and consistently overpriced. What’s the reason? Not enough units on the market for the prices to be checked? unrealistic sellers pumping up the allegedly post-gentrified status of the ‘hood? zealous independent brokers/realtors without the proper range of experience to know what the market is really ready for?
2010 is not the end of the recession. Unemployment rates + # of people who have pulled out of the workforce b/c of enduring unemployment since ’07= decrease in ability to meet pumped-up ’07 level payments.
Cash is king. Post-purchase liquidity is queen.
and the best part of the apartment is that after months of harassment the “seller”/ sponsor threw out the family who’d lived there for 30 some odd years. this is going on in most of the sponsor owned apts- many of which are occupied by elderly people.
a friend of mine has the same apartment on a different floor in this building. she doesn’t have the home depot looking kitchen, but it’s a beautiful apartment and the foyer is actually a really lovely space. she has plenty of room for a couch, her tv, an easy chair and a small dining table (seats 4.) it’s a nice building and the amount of space is perfect for someone on their own. the windows do seem like a pain in the patooties, though.
I have seen this place. It has 2 exposures only. The kitchen reno needs to redone – it is horrific as well as the floors!!
Really REALLY cheap shoddy work. The seller is crazy to ask so much for a shitty apartment that needs renovation in a building with extremely high maintenance fees. Someone should tip the seller about the Forte prices down the street.
Given the state of the market, this price looks more appropriate for Manhattan than Brooklyn. When I bought my first coop in 1988, Brooklyn was looking so expensive I decided to try Manhattan. I was surprised but happy to find a cute walk up in the West Village within my budget ($100k back then). Same size as many of the apts I’d seen in Park Slope, just fewer amenities (no terrace, for example). Sellers need to be more realistic. Even Brooklyn lovers expect a discount vs Manhattan.
Granted the kitchen is somewhat basic and inexpensive but at least its new and functioning. One could live with it for a time as opposed to moving into a coop with a 40-year old kitchen that screamed “renovate!”.
the kitchen reno is a bit on the cheap side, maybe a developer flip? But still, it has a window, which means a lot.
> Could open a can of worms, lol.
Sorry, can opening is not in my job description. Call my shop steward.
“That’d be your typical union job.”
Careful, Dave. Could open a can of worms, lol.