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August 16, 2007
Co-op of the Day: 176 Seeley Street, Apartment 6C
We love this building and we've been known to dig us some WIndsor Terrace, but we also know a stretch when we see one. This is a nice-sized and well-appointed prewar one bedroom (900 square feet according to the FSBO listing) but we have a hard time seeing how a buyer's going to pay the asking price of $445,000 for it. Especially when another one bedroom in the building sold earlier this year for $330,000. Granted, it was reportedly only 700 square feet. Any Windsor Terraceans out there care to weigh in on the chances of this fetching more than $400,000?
176 Seeley Street FSBO [Great1BR.com] GMAP
Recently Sold 2/27/06 [Brownstoner]
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Comments
No one's going to pay 445 for 700 sq ft which is what this is. No way it's 900
Posted by: guest at August 16, 2007 12:39 PM
Pre-war, elevator, recent renovation, nice layout, Prospect Park... Why not?
Posted by: GHB at August 16, 2007 1:10 PM
These WT prewar buildings are going to have to start figuring out how and where to install laundry inside the apartments, before they start fetching a certain price. Most of the coops in the older brownstone buildings have laundry inside the apartments, usually in a closet near the bathroom. Having one's own laundry is more important to many people, than space or layout. So at this price I'd think you'd see buyers choosing a smaller apartment with laundry inside the unit.
Posted by: traditionalmod at August 16, 2007 1:32 PM
I don't know about the price but I much prefer it over the PH one featured yesterday.
Posted by: guest at August 16, 2007 1:52 PM
Don't mean to get off-topic, but I have to correct you. "Windsor Terraceans" is not the proper term (sounds like some kind of lobster). You may address us simply as, "The Windsors."
Thank you.
Posted by: guest at August 16, 2007 2:51 PM
Check your comps. The apartment right next door to this one has a similar layout (but is smaller and not on a corner) and sold for $470,000 a few months ago. This one seems like a bargain at $445,000.
Posted by: guest at August 16, 2007 3:44 PM
"we've been known to dig us some windsor terrace." exactly what are you going for with that one?
Posted by: thechime at August 16, 2007 3:49 PM
i think it will sell quite easily
i live a few blocks away...this area seems pretty desirable..low inventory
Posted by: guest at August 16, 2007 3:53 PM
I don't think a unit in this apartment would have been sold for as low as $330,000. We've looked at a couple of these apartments 3 years ago and they were all in the $400,000 range and I see a similar unit is currently priced for sale at $449,000. It's definitely the nicest building in the neighborhood (pre-war, elevator, laundry, a block from the park but not on PPSW which is noisy etc..) so I'm not surprised at the price at all.
Posted by: guest at August 16, 2007 4:00 PM
Methinks brownstoner tried a little too hard this time. Or didn't try hard enough.
Posted by: guest at August 16, 2007 4:01 PM
it is close to the expressway though...i think i'd rather be on the park and deal w/ ppsw noise. my guess it that it will go for-- or close to-- asking, especially if it's in the 800 sq ft ballpark.
Posted by: guest at August 16, 2007 6:50 PM
a non-renovated 2 bed in kensington a short walk from this is on sale for $420k. You'd need to put 50 to 60 in but buyers seem very very interested. W the good or bad of kensington we can walk to a grocery. WT is sort of dead - seeley is not close to much except lonelyville.
Posted by: kensingtonbrooklyn at August 16, 2007 7:06 PM
i realize ur trying to promote ur blog, and your hood...but don't try to claim that Kensington is more desirable than WT.
not even close
Posted by: guest at August 16, 2007 8:25 PM
I think the price seems about right -- I know the building and it is really beautiful. From the photos the apartment seems very spacious and light. As for Seeley being dead - maybe kensingtonbrooklyn should take another walk around the neighborhood -- it's a perfect location: near the park, near the subway and Crossroads, near Keyfood and the stores on PPW. The real plus (and why I personally would never leave WT for Kensington) is that building is zoned for PS 154.
Posted by: guest at August 16, 2007 8:38 PM
Sorry guests didn't mean to offend, really! Just think the building (and I think it is also very pretty) is not close to a grocery store (you'd have to walk down the stairs or around to get to Keyfood). As for PS154 yes I've heard it is good. I like my zoned school PS230 too. Anyway, not trying to 'promote' anything simply stating my opinion like everyone else here but happen to have an identity b/c I signed in... next time I'll post under guest.
Posted by: kensingtonbrooklyn at August 16, 2007 9:57 PM
Based on their own measurements, that apartment clocks in under 650 SF. You can get that space for the same money in the Slope.
Posted by: guest at August 16, 2007 10:23 PM
Huh? When I checked the square footage on their website it comes out close to 900sf. The equation is Length x Width = Area.
Posted by: guest at August 16, 2007 10:46 PM
Park Slope prices without Park Slope amenities.
Posted by: guest at August 16, 2007 11:31 PM
My math puts it at right about 775sf. The "fully renovated" bathroom is just plug ugly. And what the hell was with the terrible music on the website that you can't turn off?
Posted by: guest at August 17, 2007 12:12 AM
The equivalent in PS would be more like 600k.
Posted by: guest at August 17, 2007 10:13 AM
I live in this building, in the 700 sq ft model. The sponsors put a recently vacated apt., also 700 sq. ft., on sale for $415K. They'll probably get it, or close to it, too.
Posted by: guest at August 17, 2007 1:19 PM
I honestly don't think someone buying this apartment at this price would raise kids to school age here as a one bedroom...am I wrong? It really doesn't matter which school it is zoned for then.
Posted by: guest at August 17, 2007 1:40 PM
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