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April 23, 2007
Co-op of the Day: 566 Prospect Place
Like last Wednesday's House of the Day, the sales effort of this two-bedroom co-op on Prospect Place just over the border into Crown Heights could benefit from a more neutral paint job. (Lest readers get the wrong impression, we like the use of color and have painted a number of rooms in our own house strong colors, but when one color dominates the entire mood of a property you're trying to sell, it's very risky.) The owner has recently done a clean-looking reno and while there are plenty of things we could nit-pick about, our sense is that $419,000 is a reasonable price to be asking for a two bedroom that needs no work, especially when you include the apartment's kicker — exclusive roof rights above the apartment. Can anyone comment on the building, a 15,000-square-foot, 20-unit co-op? There was an open house yesterday. Did anyone make it?
566 Prospect Place 2 BR [Brooklyn Properties] GMAP P*Shark
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Comments
I'd buy it - it's in my price range, it looks great, I don't mind the area too much, but that damn electric stove is a deal breaker for me.
Posted by: Anonymous at April 23, 2007 12:07 PM
apartments were on sale 3-4 years ago. four apartments (one 3 bedroom with roof rights, one 2 bedroom with roof rights and 2 one bedroom apts (one with yard rights) ). initially marketed as a package deal by a distressed seller for $200K. How do I know...real estate broker strung me along for a month and a half while continuing to market the property. maybe i'm just a little bitter. building is close to the L or S shuttle (something like that). Right across from the old jewish hospital that was renovated and converted into rentals.
Don't know much about the building itself. Seems to be well-maintained. Location has a lot of up-sides but might not be for everyone
Posted by: Anonymous at April 23, 2007 12:24 PM
ignore the bitterness...just another reminder of deals that went bad (if I only had the means to make that all cash proposition I would be a very wealthy gu).
I spoke to some of the tenants in the building while I was in the process of purchasing the apts and they all said that they had no problems with the building. If I'm not mistaken, the coop board is also a little lax so you probably you purchase this and turn around and rent it out the next day (a plus for investors). The hospital renovation across the street seems as if it was done well (at least the exterior). It's humongous; probably takes up 2 blocks; so once it's completely rented out the area should be a lot more vibrant, etc.
The block prior to this one seems to be very well kept; so this could be a great deal for the right person. Good luck.
Posted by: Anonymous at April 23, 2007 12:40 PM
I don't see anything wrong with the paint colors. Aside from the green, they've used neutral tones that don't stand out tremedously and would appeal to most buyers (or be ignored). Can't go wrong with tans and browns...
Posted by: Anonymous at April 23, 2007 1:25 PM
For the best coop bargains in Crown Heights try 960 Sterling Place. The coops are under valued and the apartments are spectacular.
Posted by: Anonymous at April 23, 2007 2:36 PM
I'm with 1:25 - these colors don't seem too ostentatious... they're mostly earth tones, which are about as neutral as you get. Even the green is pleasant and light, so long as it isn't in every room (which it is not, obviously).
Posted by: EJ at April 23, 2007 3:01 PM
I agree with 1:25... I think the colors are neutral enough that they will likely appeal to someone who wants a place in move-in condition... which I think accurately describes this appartment.
Posted by: rj at April 23, 2007 3:02 PM
I'm with the other commenters on the colors. This is looks like staging 101, actually. Nice accent wall, chair rail to highlight height and neutral earth tones. I wish we could see how big this place is.
Posted by: anonymous at April 23, 2007 3:06 PM
The apartment pictured is actually mine. Thank you Mr. B for posting it. I am a bit biased, but I picked the colors because they are neutral and calming. (i have seen places that have had really strong colors. I think they look great in the right context, however, i personally am not a huge fan.
3:06 - the apartment is approximately 875 square feet.
The last open house was fairly well attended and people generally had good things to say...come take a look.
Posted by: The Owner at April 23, 2007 4:21 PM
I agree with the above that you did a great job, owner, of painting, renovating, and staging your place for sale. Don't see what colors are bothering Mr. B at all. It's amazing how few people do a good job at this--seems like half the houses I looked at were filthy, with overflowing cat boxes and ashtrays, closets stuffed to the ceiling, etc. One house in Harlem was clean, but festooned floor to ceiling with paintings celebrating well-hung African-American guys--and my partner's parents were with us from Ohio, too... it was hilarious, if not a great idea for a real-estate showing. But I digress....
Posted by: bob999 at April 23, 2007 5:57 PM
I was actually at this open house on Saturday. The apartment looked great and was well kept. I think this apartment is a bargain with all the upgrades (stainless steel appliances, granite and especially the roof access. The colors didn't bother me at all...I actually didn't even think about them until I read Mr. B's comment. I think this is a great buy.
Posted by: Anonymous at April 23, 2007 6:08 PM
Sounds like a great buy. Heard there were
two bids.
Posted by: Anonymous at April 23, 2007 6:26 PM
Just came across your site. I am an architect in New York, you seem to have to
much free time, why not read the 360 page
new zoning report. You will sound brighter, when next we meet. Much too much
time on your hands. Not one clear thought in all the comments. Shameful
that google led me to your sight. You just like to hear yourselves type
Posted by: Anonymous at April 23, 2007 6:35 PM
Oh, you mean the 960 Sterling Place where a man was critically shot in its vestibule a few weeks ago?
Posted by: KZ at April 23, 2007 6:56 PM
I love the last commenter. No one else has a clear thought, according to an obvious illiterate. Please, please don't come back, and I would appreciate a list of your buildings, since they are all about to fall down.
Posted by: what a jerk at April 23, 2007 8:00 PM
I was at the open house. I think the home is immaculate. You can always paint the walls a different color. Did anyone notice the washer/dryer hookup?
This thing will go FAST.
Posted by: Ghostwriter 19 at April 23, 2007 9:30 PM
granite countertops are the tin man siding of the 2000's. they look like a skin rash. really, people, open your eyes.
or don't.
wink.
Posted by: suzy at April 23, 2007 11:58 PM
6:35
Be Adequite! Sorry you had such shames on teh google internets.
Mr.B- keep the faith. pay no heed to roaming 'architects' who are clearly errand boys sent by grocery clerks. the rest of us appreciate your work and love the site.
Posted by: Dave at April 24, 2007 1:08 AM
I live a mere 3 blocks away, but the key difference is that I'm in another school zone. Families beware - the Classon Avenue corridor between Atlantic and E.Pkway is still beset with under-funded schools. Perhaps with the money saved by moving into a low-income area, new owners will be able to afford private school...
Posted by: guest at August 20, 2007 10:22 AM
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