Co-op of the Day: 305 Hicks Street #4

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In another sign of just how far the market has come, this 1,250-square-foot co-op at 305 Hicks Street in Brooklyn Heights, which traded for $830,000 in 2007, just hit the market with an asking price of $1,300,000. (An apartment downstairs is also on the market.) Granted, the top-floor pad has had a tune-up since then and sports a private roof deck with incredible views, but this is still priced at more than $1,000 a square foot for a walk-up (albeit a very nice one in an old townhouse). Boom times indeed!
305 Hicks Street #4 [Warren Lewis] GMAP P*Shark

30 Comment

  • people here didn’t like the same exact apartment one floor down for 999k (or something) when you featured it a few days ago. can’t see this going for 1.3, roofdeck or not

  • I’m sorry, but this borders on obscene. A 1 bathroom, 4th floor walk-up? This is just another sign of how out of control the financial sector is. Great if you’re a hedge fund manager or Goldman Sachs analyst; not so great if you’re a teacher, reporter, or just a schmuk with a college degree that doesn’t relate to usary. The next crash will be bigger; I wouldn’t want to be the guy with his name on the mortgage when it happens. My advice: rent.

    • Please! Did you not see Mr. B post “Boom times indeed!”. Oh ye of little faith that the market will continue ever upward.

      And, revenge is sweet: “Dogs, OK. Sorry, no cats.”

    • Why is it you types are always focused on hating the fiancial sector?? First of all, it isn’t the only high paid sector in the city. there’s a lot of tech, advertising and fashion as well.

      i suspect sour grapes here.

      Secondly, I suspect you haven’t done the rent/own calculation in a long time.

  • PS, Mr. B, you’ve got the wrong broker: It’s Warren Lewis, NOT Brown Harris Stevens. I sure hope Warren Lewis isn’t an advertiser, or they’ll be none too happy.

  • I’m not saying this place is a good deal or not overpriced. I’m just wondering why announcerguy has such hate towards the financial sector. Maybe he got maced at his OWS sit-in.

    • I don’t have hate towards the financial sector, per se, Dave. I actually have some friends in venture capital; they tend to agree with me that the New York real estate market is overheated, and that speculation on the front end and the back end of deals is a prime cause. It’s way beyond a supply and demand issue. But you’re right, I do think Wall Street is out of control. When you have people buying 50 million dollar co-ops in mid-town, while the middle class struggles, and people at the bottom are holding cardboard signs on the street asking for help, you’ve got a big problem. But that’s a bit beyond the scope of this discussion.

      • Even the NYT has had two recent articles on multi-million dollar apartments and home in NYC and London empty because their owners live elsewhere. This is crazy.

        Plus, yesterday I got a postcard from a realtor asking me to call them if I was thinking of selling. Last time that happened we were about 24 months from the precipice.

  • but seriously, why not buy the same apartment on the 3rd floor for 300k less?

  • dave, the OT is down I gather???

  • For that price of $1.3 million, it should come with someone to carry the owner up and down the 4 flights of stairs.

  • “When you have people buying 50 million dollar co-ops in mid-town, while the middle class struggles, and people at the bottom are holding cardboard signs on the street asking for help, you’ve got a big problem. ”

    When has there ever been a time when this has not occured???? This is all part of Obama’s class warfare paltform…generating hate and disdain for anyone who dare succeed and spend their money the way they see fit.

    • I’m not getting into a debate on macro-economics with you on Brownstoner, Dave. But I’ll offer you two famous quotes from Warren Buffett: “Price is what you pay, value is what you get,” and “There IS class warfare going on…and my class is winning.”

    • This has been fun, Dave, but I have to get back to the real world, i.e. work. But a couple more points before I go. Your use of question marks seems as excessive as the price point on this unit. Also, linking to a Glenn Beck website to further your point suggests a certain credulity in your argument…perhaps not what you want. Maybe you should grab a latte and enjoy a sunny day in Bed-Stuy.

  • These boom times certainly are generating prices that, when achieved(and they so often are these days), would have seemed miraculous not too long ago. Pat Robertson was quoted this week as saying miracles don’t occur in America any more because we are “too sophisticated.” Someone should tell him about the miraculous Brooklyn Brownstone Boom.
    I know one thing for certain: It would take a miracle to get me up four flights of stairs no matter how incredible the views.

  • Mrs. Mingott…can you meet some of us at the Hollow Nickel on Atlantic after 6:00?

    It may not be the Union League but you’ll be in like-minded company.

  • announcerguy….are you arguing the fact that the White House is asking for this? that article was factually correct. Typical of those who don’t want to hear the news to denigrate the source.

    i don’t live in bed Stuy anymore. i sold that house last year. In fact I’m no longer a NYS resident and glad of it given where taxes here are going!!!! But I’m usually in BH every other week.

  • “White House is suggesting now that banks lend to people with bad credit…”

    YEEEESSSSSSSS! I’m in.

  • lugging up a stroller, groceries and a baby 4 flights every day.
    no thanks.

  • I feel that the transparency of Brownstoner’s real estate boosterism is inversely related to how confident Mr. B is in the fundamental strength of the market. Really, the market “has come so far” that a walk-up apartment in Brooklyn Heights has appreciated 60% since the pre-Lehman days? And the fact that someone simply has the balls to ask for that price is evidence? Mmkay, cool, enjoy those paper gains while they last, and later on don’t be surprised by the schadenfreude from those quarters where people can’t currently afford a patch of dirt in this city.

  • lol at this being called three bedroom, in the laout where master is at the back, smaller center bedroooms become dining and the front room is a study its called a 1.5 br.

    over priced.