Co-op of the Day: 9 Pierrepont Street

Love the chamber pot sitting in the fireplace. Does that count as a half bath?

Posted by: guest at April 16, 2008 1:51 PM

In a small co-op like this, you're getting no real services for the maintenance fees. I mean doorman, live-in super, etc. I'd rather keep control of my money on a monthly basis and manage the operating expenses myself. You're going to need to lay out on an as-needed basis anyway for big ticket items, so it's like the downsides of direct ownership without the benefits.

I'd say it's about 2400 square feet.

The lot is 125 feet deep - with the 53' house footprint, that leaves 72' for garden. The "typical" (if there is such a thing) 25x45 townhouse in the neighboorhood on a 100' deep lot would have 65' of garden, maybe only 50' if someone added an extension. So this is a little bigger but I'm not sure where the phrase "double garden" comes from.

Hope they have good soundproofing to keep the crying baby noises out! There's a pediatrician's office on the garden level.

Anyway for this price I'd prefer a single floor layout in one of the primo buildings like the ones at 200 Hicks (Casino), 160 Henry (c. Pierrepont), or Grace Court. A unit on Grace Court just sold for $3.285M. You usually don't find people biting at prices like these in the non-service brownstone floor-throughs, even if duplexes. The pied-a-terre set wants the services, anyone else who can afford it will just buy a whole house.

Posted by: guest at April 16, 2008 4:50 PM

i would neeeeevvvvveeer buy a 2 BR for 3 mil, but that's just me. and WHAT could you possibly get in maintenance for $1252 in a brownstone? But the pediatrician's office is in the garden unit in the building to the right--you can see the Tribeca Pediatrics logo in the photo.

Posted by: guest at April 16, 2008 5:01 PM

People dont buy a pied-a-terre in Brooklyn - even Brooklyn Heights

Posted by: guest at April 16, 2008 5:11 PM

what the hell? that tiny kitchen that doesn't open onto the living space is the biggest deal breaker as far as I'm concerned.

Posted by: guest at April 16, 2008 5:12 PM

Brown Harris is smoking crack, they are getting as bad as Corcoran. All of their listings in Brooklyn Heights, Fort Greene and Clinton Hill are overpriced..

Posted by: guest at April 16, 2008 5:58 PM

Are they all overpriced, 5:58? Or can you just not afford them?

Cause I sure as hell don't see a lot of inventory in those neighborhoods you mention. And I see every week listings posted here which sold 6 months later for prices everyone said were overpriced.

I also see indications that sales prices INCREASED 3% in Brooklyn in the first quarter of 2008, even though everyone said they were going to crash 50%.

I think you need to stop listening to people on this blog so much. Of course they will say they are overpriced. They also don't own anything and are very bitter that they've missed out on a major windfall and continue to miss out.

Until I see 250 brownstones for sale in Brownstone Brooklyn, I will not worry about overpricing.

Did you happen to see the news that Ft. Greene had 72 sales in the 1st quarter of 2008 compared with 23 last year for the same quarter?

But the world is going to hell, right?

You need to stop praying to the What every night before bed.

Posted by: guest at April 16, 2008 6:18 PM

I own a pied-a-terre in Bklyn Heights, in a full-service building, and use it a few times a month. Pied-a-terre situations are more common than you might imagine, and quite a few buildings in the Heights allow them.

This place, however, is way overpriced.

Posted by: guest at April 16, 2008 6:41 PM

I know someone who owns a pied-a-terre in Brooklyn Heights too, not to mention the many who own houses here and are very rarely in town. This is the luxury market. This beautiful place could appeal to someone who lives in the suburbs but who works long hours on Wall Street and who perhaps wants to entertain in the city, whatever that "entertainment" may entail.
I don't know if it is worth the price. That depends on how well-run the building is and how nice everything is in real life, it looks nice in the photos. True luxury is always at a premium in this town.

Posted by: guest at April 16, 2008 8:19 PM

Many larger coops will not approve a buyer that intends to use their unit as a pied-a-terre. Some co-ops can be picky that way. But smaller buildings like this are more agreeable to that sort of thing, especially in this price range. Who would say no to a buyer willing to pay this price? Holy comps!

Plus...just between us... if you are using the pad for "entertaining" it may be far preferable for there to be NO DOORMAN.
N'est-ce pas?

Posted by: guest at April 16, 2008 8:34 PM

I have been in this apt many times, but not since the current owner bought it. The garden used to be AMAZING, don't know if they kept it up. The bedrooms are huge..but the problem is that it is impossible to turn it into a 3 bedroom unless one knocked down the walls, which would be silly.

The first floor has no original detail in the living/dining room..so all in all it seems a bit high for what one is getting.

Posted by: guest at April 17, 2008 1:48 PM

People posting above really don't get brownstone coops. References to "the benefit of being in a coop and therefore not [...] responsible for the day-to-day upkeep of the place" and "how-well run the building is" are ignorant.

If you own half the building, you are responsible for it - you're on the board (a small one at that), and you ARE running it. You can hire a part-time person to take out the garbage and clean, and you can hire a management company (though most buildings of this size do not), but you still have to oversee those you hire. It isn't like there's anyone but you and your fellow owners to do that. And that is way more complicated (and expensive)than owning your own home youself.

Posted by: guest at April 21, 2008 1:38 PM