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July 31, 2007

Co-op of the Day: 474 3rd Street (Revisited)

474_3rd_st_2.jpg
When we posted about this first-floor two-bedroom apartment at 474 3rd Street back in April, there was much disagreement among commenters about the asking price of $819,000. At that point, it had already been on the market for at least a couple of months. Well, it's still on the market, but the listing has moved from Brown Harris Stevens to Corcoran and the price has been bumped up to $849,000 in the process. Guess we'll see what the value of the Corcoran marketing machine truly is on this one!
474 3rd Street [Corcoran] GMAP P*Shark
Co-op of the Day: 474 3rd Street [Brownstoner]




Posted by Brownstoner at 12:43 PM | Comments (11)
Categories: Co-ops, Park Slope

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Comments

I heard from prudential douglas elliman back in May that this was in contract in the high 7's, does anyone know what happened that it is back on the market and at a higher price?

Posted by: anon at July 31, 2007 1:20 PM

We went to 2 open houses over the weekend for places that seem remarkably similar to this one but (1) are $50k and $150k less (the latter one is FSBO and they priced really low) and (2) they are in PS 107 instead of 321. Does 321 still make that much of a price difference?

Posted by: Anon at July 31, 2007 2:01 PM

Seems pretty cheap as another one of these a few doors down went for $990,000 a few weeks ago. http://propertyshark.com/mason/nyc/Reports/showsection.html?propkey=141604

I wonder if there are problems with the building's finances? Or maybe that coop board is not so friendly.

Posted by: anon at July 31, 2007 2:16 PM

It was in the 8's in contract. The apartment is really good and the building is solid. The purchase fell through because the buyers failed to come up with the financing. This will go pretty quickly, a similar apartment with a roofdeck just went for upper 9's.

Posted by: anon neighbor at July 31, 2007 2:46 PM

if it was really good, they would have had a back up offer ready. the first floor is a drag too

Posted by: Anonymous at July 31, 2007 3:22 PM

It's the only apt in the building with a PRIVATE door to the COMMON garden. That sounds like having uninvited people in your yard all year. It's also the probably the only apt in the building with the PRIVATE master bedroom windows abutting the COMMON garden. It sounds like it could be a potentially touchy situation if someone else wants to 'barbeque to their hearts content'

Posted by: Anonymous at July 31, 2007 3:37 PM

The building is not 100% owner occupied. It doesn't look work $849k -1.5 bedroom and 1 bath. I am not going to bother going to the open house. And what has changed in the last 4 months to list it higher?? Oh I forgot, there has been a lot of housing market news on the bubble bursting.

Posted by: annon at July 31, 2007 3:42 PM

2:01 - what was the fsbo place like? 2bdrm too? did anyone else see it? 321 is certainly not worth $150k more than 107 if the ap'ts are similar.

Posted by: Anon at July 31, 2007 4:40 PM

I saw this place the first day they showed it. In my opinion it is overpriced. One bedroom is ok sized, while the second is quite small. The bath AND kitchen are both quite antedated and need some renovation. The yard is shared with all tenants, but is hardly large enough to fit a chair or two and not worth mention. COnsidering some recent viewings in the area I would say it's not worth the asking price. Corcoran should have wisened up and lowered the asking price then, given the nice block and proximity to shops, it would have been a deal worth taking.

Posted by: Suzi at July 31, 2007 5:29 PM

I sense that people, especially affluent people, are begining to hang back a bit, fearing that they may be the last ones to buy high. The housing numbers from the region are weak, Brooklyn is an exception but how long until the slump hits here? And when it does the walk-ups will probably take the biggest hit.
It is a nice apartment, not a great apartment, the price is too aggressive. The realtor may be using it as a foil for other units priced in the same bracket in an elevator building or with more space.

Posted by: Anonymous at July 31, 2007 7:51 PM

who will live in that tiny second bedroom? not me. there are better deals out there.

Posted by: timmy, age 8 at July 31, 2007 8:19 PM

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