Co-op of the Day: 40 Ocean Parkway

I saw this apt. in an open house back in mid August. The asking price is too much for that location (south-end of WT). Also, wasted square footage in hallway leading to bathroom and the kitchen needs upgrading, although the kitchen was eat-in. Plus, the living room was a very good size.

Posted by: guest at October 15, 2007 1:38 PM

Personally I think brownstoner should do co-op and condo of the day, and co-op open house picks more often.

The percentage of readers that this is useful for is so much higher than showing off 3 million dollar brownstones.

Posted by: guest at October 15, 2007 2:08 PM

that's a pretty good location, actually. Close to the park, the F and the expressway (great if you have a car), and I think it's in PS 154 (not that that matters for a 1 br). Could that be more properly Kensington? price does seem a bit high, but I guess the Bed-Stuy house in the NYT RE section proved we know nothing...

Posted by: guest at October 15, 2007 2:10 PM

Yet, 2:08, you'll notice that the brownstone postings elicit the majority of the comments on this blog.

Posted by: guest at October 15, 2007 2:23 PM

It's an alright location, but for the car-less majority, there is not really all that much within strolling distance. $399 will buy you a small 1BR in Park Slope, so chopping the price to $300K seems about right.

Posted by: guest at October 15, 2007 2:39 PM

where can you even find a small 1 bedroom in ps for 399?

maybe south slope.

i've been looking and 399 buys you more like a large studio in the slope.

Posted by: guest at October 15, 2007 2:41 PM

this is way over priced. It should be 270k

It has been shopped around for a while.

Posted by: guest at October 15, 2007 3:18 PM

FWIW, 4 room apartments of similar square footage (750?) in co-op buildings in Sunset Park go for around 300K with maintenance around $300. Unlike this apartment, those can be configured as two brs. Does this location warrant a 25% premium? This location seems potentially noisy and high-exhaust, as it's surrounded by major thoroughfares.

Posted by: guest at October 15, 2007 3:36 PM

"elicit the majority of the comments on this blog."

most of the comments are garbage: it is worth that, no it isn't, yes it is, you're a broker, no i'm not, blah blah.

Number of comments is not a good metric for how useful a post is. It can be, but often it is just a metric for how loudly people are shouting at each other. Higher priced properties = more incentive to post multiple times in defense or in objection to a property.

Posted by: guest at October 15, 2007 3:38 PM

Perhaps realtors are becoming unhappy with listings being linked from Brownstoner, and are blocking the site as a referrer? INTERESTING.

Posted by: guest at October 15, 2007 4:06 PM

I live in the building...I walk up to PPW regularly and sometimes over to Cortelyou but it is a bit of a walk... love the location but I don't think it's for everyone..we just had a child, so walking to the park (two blocks away) for coffee, playground and hanging at pond is great...the area is not noisy, in fact it's very quiet, not much through traffic....

lonelyville and crossroads, both good coffee, shops opened recently but area is definitely in need of a restaurant and/or wine shop or something to open on prospect ave...laura's doesn't cut it.

Posted by: guest at October 15, 2007 4:47 PM

4:47, I value your insight into the relative merit of the location. Care to way in on the asking price, anonymously of course?

Posted by: guest at October 15, 2007 5:36 PM

"So a lack of comments, for this reader, is a plus."

Is that meant to be ironic? Or merely tedious?

Posted by: guest at October 15, 2007 9:00 PM

anyone have any comps? that is all that matters, at least on paper. the he said she said bickering means nothing. what are buyers paying for a 1 br in the building?

Posted by: guest at October 15, 2007 9:18 PM

A large 1BR at 100 OP just closed for $285K. An extra $114K to be at 40 OP seems a bit of a stretch.

Posted by: guest at October 16, 2007 12:21 AM

i'd say it's worth 80K.

and make them throw in closing costs.

Posted by: guest at October 16, 2007 11:49 AM

responding to 5:36...this area is only going to get better with more services daily...there's a thai restaurant that opened on Fort Ham. Pkwy recently, etc. many young families in building and neighborhood. definitely bullish on area.

to 10:26...you will absolutely not get shot at this location....friends moved from Fort Greene to the area and were very, very happy about the feeling of safety in the area...

good access to subways, F close by and the Q/B is a short (10-12 minute) walk across the park that I do regularly (happy to include a walk in the park to my commute)

to 12:21, the location of 100 and 40 are so different that IMHO, it's worth the extra money...at 100, you're looking at the Prospect Expressway and if you're interested in going to Prospect Park, forced to cross over the Prospect Expressway and Fort Hamilton Parkway... 40 OP is on a quiet 1 way side street, (entrance is actually on East 7th) two blocks to the park with no large streets to cross (expect PPSW) and you are essentially contiguous to Windsor Terrace and Park Slope, meaning that you can walk to the commercial strips of WT or PS without crossing any large expressways or traffic circle's or bridges....that has a huge monetary cost (for me at least)

Posted by: guest at October 16, 2007 12:42 PM

Hmmm, sorry, crossing one street isn't worth a 40% premium, at least not for me.

Posted by: guest at October 16, 2007 7:38 PM

Have you ever crossed Prospect Expressway/Fort Hamilton/Park Circle to get to the park?? maybe do it and then get back to me....

Posted by: guest at October 17, 2007 1:01 PM