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May 29, 2008
Co-op of the Day: 651 Vanderbilt Street

This co-op at 561 Vanderbilt Street in Windsor Terrace isn't exactly the sexiest listing on the market right now, but it is a chance to buy a well laid-out, real one-bedroom apartment in an elevator building less than a block from Prospect Park for under $400,000. (The maintenance is a low $495.) Whether the low ceilings and lack of any detail will be a drag at the current asking price of $369,000 remains to be seen.
561 Vanderbilt Street [Orrichio Anderson] GMAP P*Shark
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Comments
What kind of "detail" does one expect in a postwar building?
Posted by: guest at May 29, 2008 1:14 PM
If I'm not mistaken, this unit has been on the market for a loooong time. It's a corner apartment, but on the back corner of the building. $339K at best.
Posted by: guest at May 29, 2008 1:36 PM
since i'm seeing studios practically around the corner in south slope sell for 329-349k, i'd be surprised if this doesn't sell at this price...
Posted by: guest at May 29, 2008 1:46 PM
A similar unit sold last month for $319,000 (possibly less). $50k more seems optimistic on the seller's part.
Posted by: guest at May 29, 2008 1:53 PM
no dice. cut the price.
Posted by: guest at May 29, 2008 1:57 PM
The building is aggressively ugly. it is from the ugly period of American architecture 1964-69. The living/dining room is on the small side.
If they are offered $320,000 they should grab it.
Posted by: guest at May 29, 2008 1:58 PM
651 Vanderbilt is a 100-percent owner-occupied co-op building, which is a definite plus for me. Also, it's less than a block from Prospect Park and around the corner from Lonelyville. However, I don't see this unit going for $369K. Kitchen is a tad small. Orrichio Anderson tends to overprice their listings. And as 1:53 said, a similar-sized unit went for $319K recently.
Posted by: guest at May 29, 2008 2:09 PM
This building may lack the charm of a pre-war building like, say 135 PPSW. But, it is still solidly-built compared to most new construction these days.
Posted by: guest at May 29, 2008 2:12 PM
It would be priced higher if the kitchen were larger and more recently renovated. Looks like there might not be a dishwasher. And we can't see the bathroom. And, yes, the building is ugly.
But I've been looking at one-bedrooms in Windsor Terrace for months and have seen very few for under $400,000, aside from places on Ocean Parkway that claim to be on the "Windsor Terrace/Kensington border."(I guess I missed that unit that went for $319,000.)
Windsor Terrace seems a very popular choice right now for people who can't afford Park Slope but don't want someplace as remote as Kensington or Ditmas Park. And there are a limited number of apartment buildings there, with all the houses. Location will help this place sell.
Posted by: guest at May 29, 2008 3:14 PM
Slice off 50k and it's a done deal.
Posted by: guest at May 29, 2008 3:25 PM
1 bath, yuck.
Posted by: denton at May 29, 2008 3:38 PM
According to Streeteasy, Apt. #4M may have sold for $319K on 4/15:
http://www.streeteasy.com/nyc/sale/128564-coop-651-vanderbilt-street-windsor-terrace-brooklyn
http://www.streeteasy.com/nyc/building/651-vanderbilt-street-brooklyn
Posted by: guest at May 29, 2008 3:41 PM
If the kitchen and BR had been (tastefully) updated recently, then $369K would be an excellent price, even a steal in an 100% owner-occupied bldg with maintenance under $500. Judging from the one photo of the kitchen and none of the BR, this hasn't happened.
I'd offer $345K.
Posted by: Fjorder at May 29, 2008 3:56 PM
"1 bath, yuck."
You need more than one bathroom in a one bedroom apartment?
Seek medical assistance.
Posted by: guest at May 29, 2008 4:58 PM
4:48, I think 1.5 baths is ideal. Sometimes I entertain. You should try it.
Posted by: denton at May 29, 2008 5:15 PM
I entertain all the time. Unlike you, I do not live in fear of guests seeing my Hello Kitty shower curtain.
Posted by: guest at May 29, 2008 6:15 PM
1.5 baths in a 1 bedroom is unheard of.
unless you are paying a million dollars.
you are a true idiot, denton. all of your comments prove it's true over and over.
Posted by: guest at May 29, 2008 8:03 PM
So true, 8:03. Denton never has anything helpful (or based in reality) to contribute. Plus the fact he thinks all 1 BR apartments in NYC should have more than one bedroom -- do you really live in NYC, Denton? Anybody with halfway decent design skills and who cleans can make their bathroom perfectly acceptable for guests to use.
I clean my bathroom once in a while, Denton. You should try it.
Posted by: guest at May 30, 2008 12:55 AM

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