Co-op of the Day: 457 3rd Street, #3R

1300 square feet?

This will sell for over ask I think.

Posted by: guest at November 5, 2007 12:57 PM

Nice leading question.

Posted by: guest at November 5, 2007 12:57 PM

just noticed maintence is 440 a month.

that's pretty darn good.

Posted by: guest at November 5, 2007 12:59 PM

I attended the open house yesterday. I think it will sell for under asking. The 1 small bathroom was a big negative for me (very narrow). And the kitchen wasn't near the dining room. Park Slope prices have gone up too much, even in the past year.

Given all the problems in the housing market and low bonuses on Wall Street, I am expecting prices to get closer to $700/sq foot.

Posted by: guest at November 5, 2007 1:03 PM

I saw this. It's a cute place but most windows look out on a brick wall. 1 (yucky) bathroom, no possibility to put in another one. dining room and kitchen are far from each other. otherwise not bad and price is not outrageous. don't think you would get that if it weren't in 321 though.

Posted by: guest at November 5, 2007 1:05 PM

a million bucks for a walk up in brooklyn
.
.
.
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a million bucks
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for a walk up
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in brooklyn

Posted by: guest at November 5, 2007 1:09 PM

That's a pretty good price. we live now in a very similar place on the UWS, but our maint. is 1150/mo. And our school district sucks. can't beat having the mortgage paid off.

I'll bet it goes for ask or a bit under, seeing that the mansion tax kicks in at 1m. I wonder about the pricing strategy, though. I might have asked $950k just to give buyers the illusion of some wiggle room under 1m.

I'm guessing the 1 bath may be a turn off for some people.

Posted by: guest at November 5, 2007 1:18 PM

The incredibly low 440 a month certainly offsets a higher price.

Most places this size would easily have a 1000 a month maint.

This seems like a good buy.

Posted by: guest at November 5, 2007 1:18 PM

3 bedrooms and just one bathroom? Is that even legal under zoning? What a horror show is you have teens.
AH

Posted by: guest at November 5, 2007 1:20 PM

I love how CBHKG hides the fact of only 1BA. Say it loud dammit! And show me a freakin' floorplan.

Posted by: guest at November 5, 2007 1:27 PM

At the linked page for Coldwell Banker, they do not know how to link a google map page. How incompetent could they be? After all, this is what they do for living and can't get their act together.

Pretty amateurish and I would stay away from them.

Posted by: guest at November 5, 2007 1:30 PM

You are all missing out on how well the rennovation was done, the spaciousness of the rooms, the well-appointed fixtures, and the 321 school district. This goes for asking easily.

Posted by: guest at November 5, 2007 1:32 PM

440 isn't "incredibly low". It is lower than average but not "incredibly" low.

999k is jumbo territory and jumbo origination has fallen off a cliff. Anyone with cash, avoiding jumbo, can easily wait to see how this shake-up is going to play out. I mean .. citibank is almost looking at getting broken up in order to get its equity back above red levels! Are people with $1m really that unaware of what is going on in the markets? these prices are only a shade less than boom-time. Sorry, this has further to fall. It won't go above ask. It only takes one careless buyer to go for ask but they'll be looking at 100k paper losses by spring, more if you include the transaction costs. thats a lot of money to get the keys before 2008.

Posted by: guest at November 5, 2007 1:37 PM

good luck with that one, 1:32. No hard feelings but the reno was nothing great - kitchen looked very tired, bathroom not renovated anytime recently, no closets at all in the master bedroom, and the cork floor all along the hallway was as mystifying as it was unappealing. The living room and small dining area were attractive, but the rest was really not great.

Posted by: guest at November 5, 2007 1:38 PM

Buildings and condos like these are pretty to look at from the street but is a whole different matter when you live inside the building and share it with other people.

The biggest problem these buildings have is noise pollution. Thin ceilings, floors, and walls. There is a new product out (2003/2004) that is a lot better at noise abatement but it will cost you at least $100 for 8x4 piece of the good kind, not their cheapest and thinnest product line. That dosen't include ripping the existing sheetrock out and labor to install it.

I'm saying this because I been through this hassle already and vow never to live in another building that dosen't have thick concrete floors.

Posted by: guest at November 5, 2007 1:40 PM

Buy a bunker in Montana. Nice and quiet.

Posted by: guest at November 5, 2007 1:43 PM

wow the maintenance is really cheap.

Posted by: guest at November 5, 2007 1:45 PM

Or buy a pre war, art deco high rise building.

Posted by: guest at November 5, 2007 1:46 PM

Or Beaux Arts-style building. Very nice.

Posted by: guest at November 5, 2007 1:48 PM

$999k? Way overpriced. The furnishing are cheap and the ceiling is way too low. What is it anyway, looks like 8' tops. Pathetic. The maint is pretty reasonable though. I wonder why?

Posted by: guest at November 5, 2007 1:53 PM

Why go to Montana for bunkers when there are more bunkers here in the East Coast?

Posted by: guest at November 5, 2007 1:56 PM

Um, 1:53, hello? the maintenance is low because the co-op has paid off the underlying mortgage on the building. And "furnishing is cheap."? You don't buy the furniture when you buy a house (unless you really really want to). I've not been in this house, but I'll bet almost anything the ceilings are at least 9'.

"Way overpriced,"? Like, you think this will actually sell for 800k instead of 999? Dream on, bitter renter...

I'm not being an apologist for this place, but why read a real estate site if you have no effing clue what you're doing?

Posted by: guest at November 5, 2007 2:08 PM

We sold a 3 bedroom, one bathoom (plus study)walk-up coop in the 321 school district about 5 years ago for $700k - $100K over ask. Did I mention that the place was pretty much completely unrenovated, except for a brand new, high-end German kitchen. No doors on any of the rooms or closets, all baseboards ripped out... plaster crumbling on the floors. I don't think the bathroom had EVER been renovated.

Like I said, five years ago. Will this place get ask? You betcha.

Posted by: guest at November 5, 2007 2:17 PM

is this a walkup?

why would a family consider a walkup?
for a million dollars?

Posted by: guest at November 5, 2007 2:20 PM

I've already sent this listing to a couple friends looking for places in Park Slope and they are shocked at the price...at how cheap it is for what it is.

One is going to look tomorrow.

Posted by: guest at November 5, 2007 2:35 PM

"why would a family consider a walkup?
for a million dollars?"

um...most people in new york live in walk ups. and nearly EVERYONE in suburbia (WITH FAMILIES) walk up the stairs to their bedrooms.

ever been in a 4 bedroom 2 1/2 bath colonial before?

Posted by: guest at November 5, 2007 2:39 PM

I hate "um..." replies.

Clearly, there is a difference btw walking up to your bedroom and walking up three flights with a stroller or groceries or a stroller AND groceries.

Posted by: guest at November 5, 2007 2:48 PM

i agree with 2:48

both statements
especially his/her first statement

Posted by: guest at November 5, 2007 2:50 PM

wow 2:39 might just be the dumbest comment i've ever read on this site

Posted by: guest at November 5, 2007 2:51 PM

will sell for about 850K

Posted by: guest at November 5, 2007 2:57 PM

School report cards out today, 321 rates only a "B".

Posted by: guest at November 5, 2007 2:58 PM

@2:08 PM.

Fine, wrong word. Lame decor. Lame trimmings. Lame layout.

Posted by: guest at November 5, 2007 3:03 PM

"Rejecting the idea of walking up a couple of flights of stairs seems as bizarre to me as driving to the gym."

I'd take it farther and say it's as bizarre as having a smoke on the way to the gym, in fact.

Posted by: guest at November 5, 2007 3:06 PM

What the hell is a 'German' kitchen?

Posted by: guest at November 5, 2007 3:07 PM

Amazing to me that anyone would want to work with a brokerage firm with such a lame web site. Do they agree to take just 4% in exchange for not bothering with floor plans?

I guess given that all the good stuff surfaces on NYTimes and Brownstoner anyhow, maybe you don't need a decent broker anymore?

Posted by: guest at November 5, 2007 3:09 PM

"What the hell is a 'German' kitchen?"

I've got oh-so-not-PC answer for that one... no... must... not... make... awful... joke...

Posted by: guest at November 5, 2007 3:20 PM

"why would a family consider a walkup?
for a million dollars?"

Don't people buy brownstones for 2, 3 and 10 million dollars?

I've never seen one with an elevator.

You do know what website you are reading, no?

Posted by: guest at November 5, 2007 3:34 PM

I wouldn't consider a walk-up until my children are walking and stroller-free. I would consider a brownstone. Is it possible that people don't get that I don't want to lug a stroller and an infant up 3 flights of stairs with a toddler along? And god help me if I've bought diapers or brought home groceries.

Posted by: guest at November 5, 2007 4:30 PM

"And god help me if I've bought diapers or brought home groceries."

riiiiight.

like you carry them home yourself.

Posted by: guest at November 5, 2007 4:41 PM

this will easily fly. 1300 sq ft on 3rd Street in PS 321 for a million is a no brainer, 1 bathroom or not. Most 3 bedrooms with this square footage in lesser parts of the slop are in the mid-to-high 800s. Third Street is about as good as it gets in PS, among the best streets.

Posted by: guest at November 5, 2007 4:53 PM

I lived in a similar-sized 8-unit bldg, 3BR/1Bath, Park Slope walk-up for 5 years.

1st of all, as to strollers, groceries, etc., our bldg had parking for strollers in the 1st floor entrance. Second of all, Slopers live by delivery. We simply had our groceries, etc. delivered and let some young buck haul them up the stairs. Yeh, there is tip and service charge, but whatever... cost of living in the Big A.

Lots of people in our bldg had kids - people managed just fine. These apts are good for up to two toddlers or one tween/teen. Only problem is the one bathroom. But, living in NYC is all about making compromises and that was the one we had to make in searching for the perfect co-op apt.

I sold a few yrs ago and bought a brownstone. Now I have stairs to climb up and down all day long (it does keep you in shape though). At least in the walk-up, once I was in the apt, no stairs.

I've lost track of prices for these types of apts. Last I knew, a few years ago they were going for around $750K. I bet this one gets $925K given location.

FYI, loved my apt, but hated being in a small co-op. In these small bldgs, everybody is on the board, which means any idiot has a veto in matters (small board + can't we all just get along culture = complete lack of ability to make any decision for fear of offending anyone). And watch out for that maintenance: $440/month means either (i) they have no debt (good co-op) - or - (ii) they are continually refinancing and rolling forward debt to cover capital expenditures, and not building a reserve fund from net cash flow (bad co-op).

Posted by: guest at November 5, 2007 5:04 PM

McFin - as posted above, insideschools.org is good for school data. You can get district maps at http://maps.nycboe.net/

321 has been too popular too long (especially with the brokers), and it got so crowded that nobody goes there any more.

Posted by: guest at November 5, 2007 5:06 PM

even if I have groceries delivered, I meet them at teh door. you make them walk up?

they spec. say there is no underlying mortgage

Posted by: guest at November 5, 2007 5:33 PM

Not all buildings have stroller parking (thank god)

Posted by: guest at November 5, 2007 5:35 PM

living in a place like this as a hard working parent sounds tough. it's so much money for 1 bath, walk up, no A/C. it seems cramped.

also, 321 is a myth. it is overcrowded and will get worse. and, being so far from manhattan, you don't have the ease of putting your kids in the terrific downtown public or private schools because you are far from the village/union square.

we bought a a significantly bigger condo last year with a backyard, 2 brand new baths and central A/C. it is soo much nicer, and we paid $950K in prime williamsburg and sure our commute is a miniumum of 20 minutes shorter.

really, is having an old facade worth it to live like you just got out of college?

Posted by: guest at November 5, 2007 5:49 PM

bitter bitter bitter.

just because you can not afford a million dollar apartment or your kid got rejected to ps. 321 does not make them awful.

btw, 5:04...i also live in a small 9 unit co-op and last i checked, we used majority rules when voting. meaning 5 votes.

not 1.

your board was lame.

Posted by: guest at November 5, 2007 6:00 PM

German kitchen = Siematic. So not your standard Ikea or even Kraftmaid variety. I don't think this had much bearing on the price, though. It was only a few months old but the new owners ripped it out and but in... a new modern kitchen.

Posted by: guest at November 5, 2007 6:07 PM

The fact that people ask why the maint is only $440 a month when it clearly states that it's because the mortgage is paid off means one thing....

PEOPLE DON'T EVEN READ THE LISTINGS.

YOU JUST MAKE SHIT UP BASED ON YOUR OWN AGENDA.

Posted by: guest at November 5, 2007 6:07 PM

"let some young buck haul them up the stairs"

Cue porno soundtrack...

Posted by: guest at November 5, 2007 6:31 PM

The question of the day is why a family would consider a one-bathroom walk-up apartment in Broolyn for a million dollars.
This is a really interesting question.
Perhaps it is desperation?
Perhaps a doctrinaire rejection of living in the nice towns in the burbs (although the kids would way prefer it)?
or perhaps resignation that if you live in NYC you have to settle for less than any other American?
or is it just stupidity?
or is it all of the above?

Posted by: guest at November 5, 2007 6:58 PM

all of the above.

I love Park Slope, but prices here have gotten way out of hand. Make no mistake, it is a long commute into the city unless you work way downtown. It's a lovely area, but it's not the only place in the world. It's impossible to get your kids into private school in Brooklyn because demand is far too high, and ps 321 has 28 kids in the kindergarten classes, and 1 teacher. And I agree, $1 million to live in a 3rd floor, 1 bathroom walkup with no closets in the bedroom, and no decent middle school within striking distance, and this is considered a bargain by some people? come on.

Posted by: guest at November 5, 2007 7:05 PM

most kids i know loathed growing up in the suburbs, btw.

i think we are now seeing the product of these kids that grew up bored to death, with zero attention spans and nearly no hobbies to speak of.

not sure why you think kids love staring at a tv screen so much all day or playing alone in the backyard as most do in the burbs.
when that's all you've given them...sure...they'll do it.

ask people in their 20's and 30's how much they liked growing up in the burbs.
it's an easy question to ask, since most have since moved to cities all across the country.

go ahead...ask them.

Posted by: guest at November 5, 2007 7:27 PM

i agree completely, johnife.

doesn't say much for someone who makes all those postulations, yet still lives in nyc (i'm assuming).

or maybe it's one of those suburbanites that used to live in brooklyn but now lives in rockland county and keeps up with brownstoner "just to see how things are in the old hood"

Posted by: guest at November 5, 2007 7:42 PM

Both 6:58 and John Ife are right. That's the problem. They're both absolutely correct.

Posted by: guest at November 5, 2007 7:44 PM

Johnife, I grew up in the city and I agree with you 100% about preferring it to the suburbs even as a child. That said, my parents could afford to give me a quality of life in the city that I could never come close to matching now, for my own kids, because the cost of living here has gone up so much. My spouse and I work non-stop and practically never get to see our kids, just to make ends meet. Therefore, I owe it to my family to consider the suburbs, where I can get a nice house in an excellent school district for the same price as the coop on this posting. And, where the commute in to my office is only about 15 minutes longer door-to-door (no car involved) than it would be if we lived on the F line in Park Slope. It's not a decision I've come to terms with yet, but I can see it coming. Brooklyn used to be the place you could move to if you didn't want to leave New York entirely but couldn't afford Manhattan - that is no longer true, sadly. And sorry, but I'm not up for Queens...

Posted by: guest at November 5, 2007 8:00 PM

That's exactly how I feel 8:00PM. And don't go to Queens, please.

Posted by: guest at November 5, 2007 8:03 PM

Sorry, so not true, 7:27. The vast majority of people in this country in any field grew up in the suburbs or rural areas, not in the inner, urban centers. Just because YOUR friends who grew up in the suburbs are boring doesn't mean anything. It says more about you than it does anything else.

I grew up in a rural area and having fields and streams and lakes to spend solitary time in was amazing. I will never regret one moment, having that opportunity. It never ever bored me. I'm sorry you find nature boring, that's sad to me. I can hardly imagine kids in a city ever getting enough quiet and meditative moments to develop a rich inner life, when there's so much loud distracting stimulus coming at them all the time. No wonder they are all ADD and on meds.

Posted by: guest at November 5, 2007 8:05 PM

thank you for clarifying my point, johnife.

someone just wanted to pick a fight. not sure how you got from my post that i find nature boring.

couldn't be any farther from the truth. love nature and in fact have planted myself right next to the closest facsimile i could find around these parts (prospect park).

you sound like the one who could use a change of meds, doll.

and i'd like to see your stats that there is any indication that children raised in urban environments are any more likely to suffer from ADD.

a good thesis topic, no doubt.

Posted by: guest at November 5, 2007 9:20 PM

Oh please! The whole "all suburbs and everyone in them are depressing and stupid" thing on Brownstoner is so completely retarded I can't even believe you people write this crap. Aren't you ashamed such ignorant thoughts even come out of your head or mouth or keyboard?

I live in Brooklyn, I love NYC and love living in a city, but I'm not so insecure and self-obsessed that I can only see MY choices and my choices only as the right ones. Why are you so in need of affirmation of living in Brooklyn that you need to do that?

I am SO not the one who needs meds. And I was not "picking a fight". It's called presenting a contrasting point of view. Er, if that's allowed around here without being insulted and being called "doll". You're a complete ass. Since it's my turn to call people names.

Posted by: guest at November 5, 2007 11:40 PM

I walked around park slope for the first time and fell in love with it's home, and all the wonderful shops and restaurants on 5th and 7th avenues. I even thought 4th and 3rd avenues weren't so bad to be so close to a really wonderful neighbor - probably the nicest in all of brooklyn and NYC. Aren't there more reasonable homes south of 5th?

Posted by: guest at November 6, 2007 12:40 AM

Park Slope is so overpriced.

Posted by: guest at November 6, 2007 8:46 AM

For that kind of money I would want to live closer to the city than Park Slope.

Posted by: guest at November 6, 2007 8:46 AM

the commute from PS to midtown is, on average, 1 hour door to door

so lets see, $1M for a 1bathroom walkup, 1 hour from work.

sucker.born.every.minute

Posted by: guest at November 6, 2007 9:46 AM

it takes me 20min to get to broadway lafayette from 7th ave during rush hour.

midtown is for suckers.

Posted by: guest at November 6, 2007 9:53 AM

midtown is for suckers
oh, ok
thanks for clarifying
this place is definitely a great value than
my bad

Posted by: guest at November 6, 2007 9:56 AM

Takes me about 35 (maybe 40) minutes to get to Midtown. Hello, it's a little maneuver called CATCH THE EXPRESS TRAIN AT ATLANTIC!

Posted by: guest at November 6, 2007 10:19 AM

You're sucker if you believe it takes 20 min to get door to door from Park Slope to anywhere in manhattan.

Posted by: guest at November 6, 2007 11:04 AM

PS 321 factor? PS 321 just got a pretty average grade from the city board of education. There goes Park Slope property values.

Posted by: guest at November 6, 2007 11:06 AM

i live in park slope and work on the upper west side.

it took me exactly 37 minutes to get to work today.

Posted by: guest at November 6, 2007 11:09 AM

"pretty average grade"

last I checked a "b" was considered above average. "c" is average.

apparently you didn't go to a very fine school if you didn't already know that.

Posted by: guest at November 6, 2007 11:10 AM

from THIS APT there is no way to get to midtown, DOOR to DOOR in less than an hour

Posted by: guest at November 6, 2007 12:19 PM

I work Midtown, right on 40st Bway. It takes me 30 minutes door to door from my Park Slope. Man,how I love the Q!

Posted by: guest at November 6, 2007 12:33 PM

from THIS apartment to midtown is 30 minutes.

not sure what trains you ride.

Posted by: guest at November 6, 2007 12:34 PM

But, see, here we go again. If you want an urban lifestyle for your family, and you don't want/can't afford private school, then this apt., at this price, is a good deal. PS is the ONLY neighborhood in bklyn that has decent public schools, is safe after dark and has a real park. those are facts. and that's why it's expensive to live there.

Why even bring up the suburbs? This is a site about New York CITY.

But let's settle this once and for all. We'll see what this sells for.

Posted by: guest at November 6, 2007 12:34 PM

12:34 is full of crap

30 minutes from tyhe front door of this apt will get you to East Broadway if ur lucky

Posted by: guest at November 6, 2007 1:04 PM

i do it every day, 1:04.

F train to Jay St/Borough Hall: 10 mins.
Borough Hall to 42nd on A train: 20 mins.

That includes walking and waiting.

My office opens at 9, I leave my house at 8:30 every day and have been late to work less than a dozen times in the last couple years.

Posted by: guest at November 6, 2007 1:19 PM

I commuted on the F from 9th St/ 7th Ave to Rock Ctr for 7 yrs. Average rush hour, including wait time was around 40-45 minutes door-to-door. I'm in Wall St. area now, so its more like 30 minutes!

Everybody I know who commutes from Jersey, Westchester, or Conn., takes at least 1 hour at least (including drive and parking). And housing prices for a 1 hour commute in the burbs are fairly insane in places like Greenwich or Scarsdale.

There is no silver bullet. You either pay to be in the city, you pay to be close enough for it to not make much difference, or you sacrifice on commute time.

Posted by: guest at November 6, 2007 3:08 PM

"decent public schools"....plural? Sure, two decent K-5 schools. But Middle Schools and High Schools suck in Park Slope.

Also I guess nobody has heard about the chronic lice problem at PS 321. They can't get rid of it the classes are so crowded. I heard about it directly from a parent there.

Posted by: guest at November 6, 2007 3:52 PM

wow, bitter much, 3:52.

too bad you didn't post yesterday so you could scare more people.

nobody's reading this thread anymore.

Posted by: guest at November 6, 2007 5:28 PM

meanwhile did anyone notice that the price dropped to $985,000 (NY times today)....no offers obviously!

Posted by: guest at November 7, 2007 3:44 PM