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December 21, 2006

Co-op of the Day: 394 Lincoln Place

house
Unless the interior of this apartment is a dump (note to broker: put up some darn pics!), this 1,000-square-foot two-bedroom co-op in Prospect Heights could be interesting at $399,000. Only a block from the new Richard Meier building (and pretty close to the park as well), this location will only get better and better over time. The first showing was last weekend. Anyone seen it yet?
394 Lincoln Place [Corcoran] GMAP




Posted by Brownstoner at 11:52 AM | Comments (21)
Categories: Co-ops

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Comments

Again with the sq footage lies.
1000 is 20% pumped over what you can find within the walls, even including the closets and interior walls.

Posted by: Anonymous at December 21, 2006 12:18 PM

Looks like 750 square feel of usuable space, which is really not too shabby for a family with one kid. Odd that there are no interior picture given that the apartment is described as "renovated"

Posted by: Anonymous at December 21, 2006 12:29 PM

You are correct in stating that this block will improve with time. At the moment, though, this block and St. John's one block north have their fair share of felonious residents. There have been several shooting around the corner on Washington Ave. recently.

Posted by: Anonymous at December 21, 2006 12:48 PM

street level apartment maybe??

Posted by: buff at December 21, 2006 12:48 PM

I have visited. The reason there are no pictures is that the apt is still under renovation. The unit is on the 4th floor in a walkup. It really should be listed as a junior 4 as the 1 bedroom (with no closets) is separated by french doors. It has a small kitchen (definitely not eat-in) that is not that well divided from the living space. So I think there are some compromises on the way the space has been arranged.

Posted by: Ernst at December 21, 2006 12:56 PM

No, fourth floor walk-up?

Posted by: Anonymous at December 21, 2006 12:57 PM

Walking down this block late at night leaves you feeling uneasy to say the least. Based on the numbers from the floor plan this apartment is not more than 700 sqft. That makes the price $570/sqft. Although it is a pretty good sqft value as compared to what is available in the immediate neighborhood, the felonious nature of this particular block makes it bad deal at this price.

Posted by: Anonymous at December 21, 2006 2:14 PM

Nope, didn't see it. Not listed on your Open House Pick of the Week: Condos/Co-ops. Wait a sec, you haven't done that for a couple weeks running now. Are you abandoning the idea?

Posted by: Anonymous at December 21, 2006 2:19 PM

I looked at an apartment on this same block about 3 years ago. It was a good value for the space (2BR like this one; can't remember the price but it was probably about 250K). But I also remember feeling a bit unsafe on the block. Just didn't seem quite the right fit to me at the time. But I haven't been back since to reevaluate.

Posted by: shelz123 at December 21, 2006 2:25 PM

Just looked at the Corcoran website and broker Stan G. has what looks like the exact same apartment listed twice -- once as "for sale" (web id#: 928216) and once as "under contract" (web id#: 922879).

Posted by: shelz123 at December 21, 2006 2:30 PM

The one 'in contract' says 2nd floor.
One still opens says top floor.
And folks - about sq. footage - even in
freestanding single family houses throughout the land - sq footage is calculated by outside dimensions of bldg or house. There are no subtractions for wasted spaces/stairways/etc.
So don't get so excited.

Posted by: Anonymous at December 21, 2006 3:07 PM

We bought in this building about a year ago and it's improved a lot. Everyone in the building is very nice. The neighborhood is a little rough on the edges, but we love being basically a block away from the subway, the Botanical Gardens, The Brooklyn Museum, and the GAP Green Market and Library.

I would definitely consider it a good deal. A year and a half ago, similar units sold in the building for $75,000 more. I think the sponsor is eager to unload the apartments. The building is mostly owner-occupied.

By the way, the reason there are two listings is there was another identical unit on the second floor. Both have been renovated.

Posted by: chip at December 21, 2006 3:17 PM

This block has had a lousy reputation going back to at least the early 1980s. There's noise at all hours, open drug dealing, hostility between long-time residents and newcomers, aggressive double-parking (aka "no, f***face, I won't move to allow you to pass until I've finished buying my shit"). The buildings are sound pre-war apt blocks but, in spite of the potentially great location, it remains one of the crummiest streets in the entire neighborhood. So long as Section 8 remains in effect, don't expect too much rapid change.

Posted by: Anon at December 21, 2006 3:31 PM

I find myself growing defensive about my block. Even though I'm the first to complain about its many shortcomings (trash, poor stretches of sidewalks, and dog crap), and I'm well aware of it's reputation, I must say that I've lived here over a year and never seen any drugs or violence (With the exception of a shoving contest between two overweight women on the night of the Carribean Day parade). A nice new restaurant (Cheryl's) just opened on the underhill end of the block and I look forward to the pilates studio opening acround the corner. Plus, this building is basically on the corner of Lincoln Place and Washington. So it's a safe walk from the subway (Eastern Parkway, turn left on Washington, and another left on Lincoln Place).

Posted by: chip at December 21, 2006 3:48 PM

To qualify my previous post, I'm sure there is drug-dealing and violence. I'm just saying I don't feel like I'm walking through a war zone every time I step out of the house, which is the impresson I get after reading some of the posts. I feel fine about walking down the street at night with my two kids. I feel less comfortable walking down Lincoln Place two blocks over on the other side of Washington.

Posted by: chip at December 21, 2006 4:01 PM

I second Chip's comments. This isn't the nicest block in PH or anything, but it's not a war zone. I come home on the subway after midnight and walk back to my apartment (near the middle of the block) and have never run into any trouble. Over on Dailyheights, I hear about far more muggings over on the nicer blocks near Vanderbilt than I do on my block. And while there might be a drug deal here or there, it's far from "open", at least over on the Washington end (things get a bit dodgier on the Underhill end) as I haven't seen a single one in the past year. But! It is indeed incredibly noisy, esp. during the summer, and a few of the buildings have incredibly inconsiderate landlords and basically have no trash facilities. Clearly, there are big annoyances, but I haven't had safety be one of them (knock on wood).

All that said, paying that much to live in a 4th floor walk-up on this block seems a bit much, but what do I know -- I rent.

Posted by: ed at December 21, 2006 4:44 PM

I'm a gentrifier who bought dirt cheap back in 99 across the street from this building and have seen many changes on the block in that time. Once you establish yourself and get to know the guards on the street, it's 100& safe, and I'm a woman walking home late alone, or a stroller mom by day, and also one who parks on the block. My bldg has had a couple of real 3brs go for ~$700k in the past year, so this sounds suspicious to be so cheap... seems like others have said the space is not as advertised.

Posted by: Anonymous at December 21, 2006 5:03 PM

But doesn't your building also have an elevator, Anon 5:03? And what do you mean about the guards on the street -- are they guards working for the dealers? The walk up is probably the worst feature of this place -- I agree the location is ideal for subway acess and the block will only get better.

Posted by: babs at December 21, 2006 5:20 PM

yes, my bldg does have an elevator. and i believe a 1 br for sale on the 3rd floor, facing the back (so it's quiet), if any of you are looking. interpret guards as you wish. i like to think of them as the guys who keep my block safe and watch my back. when they're out, my car doesn't get busted. when they're in, not as protected.

Posted by: Anonymous at December 21, 2006 11:05 PM

Does Corcoran have the worst and/or most inadequate photos for real estate listings in the entire city? I really think they do. It's laughable, their photos sometimes. What's with that? If they have to cut corners that much in order to make a profit, their overhead is too high. Decent photos are such a basic requirement. Even if good photos increase selling price by 1%, due to increasing traffic, it's worth it. I don't get it.

Posted by: Anonymous at December 23, 2006 11:25 AM

I just love the way the pictures sometimes get "stretched", resulting in a highly laughable distorted widening of the room. Whether or not this is intentional I couldn't say, but if it is, how could one NOT see through this?!? It's not limited to just Corcoran, either. There were several recent listings I viewed, one of which was of a bathroom, with the toilet appearing as if it had a double width bowl. For some people, that might prove helpful, but to give them false hope...

Posted by: valpurkisnacht at December 24, 2006 3:39 PM

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