Co-op of the Day: 60 Remsen Street

$742 for maintenance is OUTRAGEOUS!!!!!!

That's the maint on a typical Brooklyn 2 bedroom!

Posted by: guest at June 4, 2008 1:00 PM

Not a realistic price, and the maintenance in this building is high for a studio. Ground floor as well, although some people prefer that. Maybe a pied-a-terre for someone taking advantage of the weak dollar. Otherwise, crazy.

Posted by: guest at June 4, 2008 1:03 PM

Not gonna' happen. Delusional price.

Posted by: guest at June 4, 2008 1:09 PM

Brownstoner's off his meds. Stick a tastefully done high-hat into a parlor, and he rants all over the place about the recessed lighting, and yet from this poor photo of a mundane kitchen in a boring studio, he declares it "beautiful." WTF?

Posted by: guest at June 4, 2008 1:10 PM

I've been shopping around for studios lately...mainly looking in BH, PS and FG. I've seen a couple nice studios in Park Slope for around 350K or so...went to see one in the Griffin in Fort Greene, which I think was 329k. None of the maintenance charges have been over 500 a month.

Why would anyone spend this for a studio, when you can get a 1 bedroom in any of the other Brownstone neighborhoods for this much?

399k and this might sell. Not to me...I've decided in my search that I really would like to be in Park Slope, I think...in a brownstone, even though those studios are a little smaller, I just like the details they seem to have.

This price is very out of whack with what I've seen so far.

Posted by: guest at June 4, 2008 1:15 PM

this studio is 100K cheaper than the house of the day in Bed Stuy from yesterday...

Posted by: guest at June 4, 2008 1:17 PM

I think you are comparing apples and... If you want a doorman buidling, live in super and staff (which a building this size must have) you pay. Thee maintenance is not outrageous but the price should be about about $400K.

Posted by: guest at June 4, 2008 1:20 PM

I rented a very similar studio in this building for $750 in the early nineties, and it is a great space. The layout makes it function as a one-bedroom, with a very big living/dining room. The maintenance isn't outrageous, I think, for a full-service building. Those low maintenances in Brooklyn are usually for apartments without 24-hour doormen. I only moved because the co-op had strict 2-year subletting rules.

Fifteen plus years later, I'd far prefer to rent this space for $2,000 than the typical brownstone floor through (and I'm speaking as a landlord who rents out brownstone floor apartments). It may not have the pre-war detail, but it is safe, in a prime location. I'm too lazy to do the math as to what the purchase price should be here, but it's not the typical small studio space. Also, in the building, the ground floor is actually nice -- no need for elevators and because of the street grade you are one story up and no one can look in your front windows.

Posted by: guest at June 4, 2008 1:23 PM

The maintenance IS outrageous, 1:20.

The average...even for Manhattan doorman buildings is like $1.20 a square foot.

Even at that rate (assuming the place is 450 sf, which I think is a little high...i think it's probably more like 400 sf) the maint should be 540 a month.

This is nearly $2.00 a square foot which is OBSCENE!

Posted by: guest at June 4, 2008 1:25 PM

20% Down 93,000
Closing costs 12,000
Monthly payment: 30 Years
Interest rate: 7.750%
Loan amount: $ 360,000.00

$ 2,579.08 a month!

I don't know the Maintenance so ad in 500 a month.
***

Well let's start with the maintenance...it is written plainly on the ad, so if you don't know it, it means you CAN'T READ! Not a shocker to most bstoner readers, I'm sure.

I just got a quote on a mortgage rate for a similar mortgage amount of 6.125%. A full percentage point lower than your estimate.

Closing costs on this apartment will be around $7,000. NOT 12k.

Your figures are so grossly off, I don't even know why you bother posting.

Oh and you CONVENIENTLY left off the fact that at least $500 a month of the total mortgage and maint. is going to be tax deductible. Most likely a lot more than that, actually...

Posted by: guest at June 4, 2008 1:30 PM

Oh, I'm sorry a full percentage and a HALF lower than your "estimate"...

Posted by: guest at June 4, 2008 1:33 PM

1:23 here. I can't believe I'm defending this apartment, but I guess I have a soft spot for that building and space from living there. First, this is a very large studio. I just glanced at the floor plan and it looks like the interior footage of only the square (not including the bathroom extra) is 20.5 x 23, so I'd guess the interior footage is at least 500 square feet. I'm lousy at square feet calculations, but I do know that I hated studios, and never considered them as a living space, but when I saw this apartment for rent I immediately grabbed it because it was nicer than many 1 bedrooms I had seen. Sometimes actual layout is more important than square feet.

If someone can point out a link to an apartment in the neighborhood for sale in a full-service doorman building in which the maintenance for a 1 bedroom doesn't exceed $1,000 please show me.

No, I'm not a broker, and own a brownstone, so it doesn't really matter to me what this sells for. But I think the apartment deserves to be appraised honestly. I happen to think the Brooklyn real estate market is wildly overpriced now, and even agree with The What on occasion. This apartment is still overpriced. But I'd certainly buy it over the crummy one-bedrooms on sale in fringe neighborhoods for prices that aren't that far off of this one.

Posted by: guest at June 4, 2008 1:40 PM

I think all the ground floor units in this building can be used commericially, so that may change things

Posted by: guest at June 4, 2008 1:43 PM

Dave, 95% of buildings this size have underlying mortgages.

Posted by: guest at June 4, 2008 1:46 PM

Actually avg. maintenance in Manhattan is $1.37 and that is average! Not just for doormen buildings. So this is about $1.35 so right in line. and everyone's maintenance is going up with energy costs and r/e taxes...

Posted by: guest at June 4, 2008 1:49 PM

Thanks for the information 1:49pm. I sincerely doubted that many buildings with 24-hr doormen had maintenances of under $1,000 for apartments this size. I suspect this building's maintenance is lower than 111 Hicks, for example, since it seems to have been well-run for many, many years.

Posted by: guest at June 4, 2008 1:52 PM

daveinbedstuy -- is this the current maintenance, or years ago? Also your taxes are adding over $400/month in maintenance, so it sounds pretty similar.

Posted by: guest at June 4, 2008 1:55 PM

1:40, I appreciate you defending your old pad, but let's get real here...

I just found a studio for sale listed IN THE SAME BUILDING...THAT'S RIGHT 60 REMSEN..FOR...DRUMROLL....

$245,000.

No, it doesn't look nearly as nice, but you could gut the thing and line it with plutonium for 100K and it would STILL BE 100K less than this place.

Not to mention the maintence is $100 cheaper...

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1267127&ohDat=6/8/2008%2012:00:00%20AM;

Posted by: guest at June 4, 2008 1:56 PM

Here is a gorgeous 1 bedroom on Pineapple Street for 399K (601 maint).

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1225782&ohDat=6/4/2008%2012:00:00%20AM;

Posted by: guest at June 4, 2008 1:58 PM

HERE IS A 1 BEDROOM IN 60 REMSON FOR $390,000

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1281060

I can't figure out what the motivation for selecting this as co op of the day!!!!!

HMMMMMM

Posted by: guest at June 4, 2008 2:00 PM

1 BEDROOM ON MONROE (650 SF) FOR $450,000!!!

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1269360&ohDat=6/4/2008%2012:00:00%20AM;

Posted by: guest at June 4, 2008 2:01 PM

1:52, Here is a place at 2 Grace Court (FULL SERVICE)

A 1 bedroom listed for 399K with 592 a month maint...

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1220072&ohDat=6/8/2008%2012:00:00%20AM;

I think you are the broker...

Posted by: guest at June 4, 2008 2:04 PM

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1209532&ohDat=6/8/2008%2012:00:00%20AM;

Henry Street Studio for 395k (567 maint).

Looks MUCH nicer than this place at 60 Remson

Posted by: guest at June 4, 2008 2:05 PM

Thanks for the links 1:58, 2:00, etc. -- I'm 1:40 and I appreciate you taking me up on my offer.

However, 2 of your apartment links prove my point that this apartment is far larger than a typical studio. The studio for $245,000 that you linked to is exactly the kind of studio I hated -- it is in no way the same size as the co-op of the day. The 1 bedroom for $390,000 at 60 Remsen, is, ironically, the same as the studio, they are just calling it a 1-bedroom. (Which was exactly my point). And the maintenance is exactly the same as the co-op of the day, which advertised more honestly in calling itself a studio.

Finally, the Pineapple St. 1-bedroom really makes my point, as it looks as small as the smallest studio at 60 Remsen, despite being a so-called 1-bedroom. It has a $601 maintenance and IT DOESN'T EVEN HAVE A DOORMAN. There is a huge difference in maintenances between doormen and non-doormen buildings. I still am not convinced you can find a doorman building apartment for this low of a maintenance.

Posted by: guest at June 4, 2008 2:09 PM

PS -- I think it is very fair to compare the $390,000 1-bedroom on a higher floor to this $465,000 co-op of the day. There are no photos of kitchen, but many people would prefer the lower price and do the renovation themselves.

Posted by: guest at June 4, 2008 2:11 PM

2:04 how can u compare that apt... The one you are showing is a dump...

Here is a normal apt that makes more sense with good maintenance charges...

Buying a 1bd for around 400k and paying over 800 in charges is nuts...

http://realestate.nytimes.com/sales/detail/355-5K5K5K

Posted by: guest at June 4, 2008 2:16 PM

Wow, lots of Corcoran brokers hanging out here today.

Rather pitiful, 5 "alternate" places in a row from the same company.

Posted by: guest at June 4, 2008 2:17 PM

Look at the Henry Street Studio link at 2:05.

IT'S GORGEOUS!!!

2:09 IS THE BROKER FOR THE CO-OP OF THE DAY, IN CASE YOU ARE WONDERING!!!

Posted by: guest at June 4, 2008 2:17 PM

Judging from the comps linked above, I'd say this should sell for no more than 375K.

Posted by: guest at June 4, 2008 2:19 PM

I still keep looking at your links and they still aren't convincing me. The Henry Street Studio for $395k is way smaller, and again, exactly the kind of studios I hate -- you live in the bedroom. The 1-bedroom on Monroe is lovely, and I'd live there in a minute, but it's a top floor walk-up without a doorman and it STILL has a maintenance of over $700. If I'm going to pay that much for maintenance, I want a doorman. That's why we bought a brownstone in the first place, because if we are going to do things ourselves, we don't need to pay for someone else's underlying mortgage.

The Grace Court apartment is a good comp, however. It does have a low maintenance for a 1-bedroom. However, the listing has no floorplan, so I'm not even sure if this is a tiny 1-bedroom that is far smaller than the Remsen st. studio.

Posted by: guest at June 4, 2008 2:21 PM

LOL, I have accused others of being brokers, and I really am not, but I do admit to the bias of having lived in that bldg. years ago. However, as I said before the Henry St. Studio has a high maintenance for a much smaller space. If you want an apartment where your bed isn't in the living room, you'd take the Remsen St. studio (or the 1- bedroom you linked to), over that one.

Posted by: guest at June 4, 2008 2:23 PM

Also, the Henry st. studio is a lovely renovation, but you know what, it can never get any bigger than it is, no matter how much money you put into it. Notice there isn't even a bed in the apartment -- I'm guessing the couch opens up into a sleeping couch.

Posted by: guest at June 4, 2008 2:27 PM

building is on a landlease

Posted by: guest at June 4, 2008 2:32 PM

So we all agree...

This place is the most outrageously priced studio/1 bedroom in Brooklyn Heights...???

Posted by: guest at June 4, 2008 2:33 PM

2:23...

You aren't getting it. The other 60 Remsen studio is 200,000 cheaper!!! It might be smaller, but it's twice the price!!

And the 1 bedroom is still 70,000 cheaper!!!

This apartment is absurdly overpriced!

Posted by: guest at June 4, 2008 2:34 PM

2:34 I am getting it exactly. The studio that is $200,000 cheaper is a tiny studio. There's no point comparing it to the other one, which is EXACTLY the same size as the 1 bedroom that is $70,000 cheaper.

However, as I said, it is completely reasonable to compare the 1 bedroom to the co-op of the day studio, because it is the same apartment with a small wall built to make it a one-bedroom. (I know, because that's what I did to mine).

I don't know what the state of the cheaper 1-bedroom is. If it's in the same general condition, of course it is by far the better buy. Even if the kitchen needs work, many people would prefer it to the lower floor studio (although for convenience, that lower floor is very nice).

Frankly, I have no desire to defend the asking price. I DO defend the maintenance, however. You still haven't pointed out a single reasonable comp for saying that this is a high maintenance for an apt. this size in a doorman building.

Posted by: guest at June 4, 2008 2:42 PM

It's a nice big studio but other neighborhoods are far more desireable than Brooklyn Heights these days for singles who buy studios. BH isn't hip enough for singles.

Posted by: guest at June 4, 2008 3:05 PM

3:05,

Precisely why (as evidenced above in the million linked listings) there are a ton of studios for sale in BH and about 2 for sale in all of Park Slope...

You'd have to REALLY love BH to buy this studio at this price instead of a 1 bedroom in PS, FG OR CG...

And I don't really see that being the case with most people who are in the market for studios...

Posted by: guest at June 4, 2008 3:14 PM

Only 20 something singles care about hip. Lots of 30 and 40 something single women just want a nice safe neighborhood with lots of amenities and an easy commute. Many of my single women friends prefer doormen buildings rather than brownstone walk-ups simply because of that extra security of having a doorman when you come home late at night.

Posted by: guest at June 4, 2008 3:17 PM

It's not just singles who buy studios. There are lots of parents buying them for their kids, with a view to using it as a pied-a-terre later, or empty-nesters doing the same. They have loads of cash, and believe me, they're not planning on taking the A-train into the city from Bed-Stuy. Get a clue - that's who this price tag is aimed at.

Posted by: guest at June 4, 2008 3:21 PM

you can use this apartment for commercial purposes.

Posted by: guest at June 4, 2008 3:28 PM

"neighborhood with lots of amenities"

well then they certainly won't be looking at Brooklyn heights...

Posted by: guest at June 4, 2008 3:28 PM

for 742 a month, i could hire a security guard to shadow me instead of pay this ridiculous amount.

Posted by: guest at June 4, 2008 3:29 PM

Maintenance charges for the nicer coop buildings in Brooklyn Heights is quite high. If you can't afford the extra thousand or two a year, live somewhere else.

Posted by: guest at June 4, 2008 3:32 PM

3:05 I love how are you are saying where people should live. I just moved to Boerum Hill/Cobble Hill and was looking at Brooklyn Heights for awhile and liked it alot just the maintenance was way too high on apartments. There is a reason why its the most expensive area in Brooklyn becasue of clean streets and the element in that area. I am so tired of people pumping up Park SLope, I think its nice but too far of a commute to the city I feel the best place to be with the most upside if a deal can be done is in the Boerum/Cobble/Carroll areas...

Posted by: guest at June 4, 2008 3:34 PM

READ THIS

http://finance.yahoo.com/real-estate/article/105172/The-Most-Expensive-Real-Estate-Markets-in-the-World

Posted by: guest at June 4, 2008 3:37 PM

to 2:32----building is NOT on a landlease---that's 100 Remsen, corner of Henry--this is 60, Corner of Hicks

Posted by: guest at June 4, 2008 3:41 PM

3:28 what amenities does BH lack, aside from the great restaurants you'll bring up in neighborhood xyz? yawn.

Posted by: guest at June 4, 2008 3:42 PM

I'd rather take the additional 5 stops on the 2/3 Train to Bergen Street in Park Slope (extra 10 mins) for studios which are priced 100-150K less with maintenance charges half of what they ask in BH.

Oh and nice restaurants and bars and shops as opposed to the crap on Montague Street.
And no, I don't live in PS...I live in Dumbo.

Posted by: guest at June 4, 2008 3:43 PM

3:29, that's so ridiculous. You'd rather pay $600 maintenance for a brownstone walk-up in which you take turns doing all the services yourself, have no doorman, and if something goes wrong, you get a big assessment to cover it.

In fact, I suspect 60 Remsen St. has a fairly low maintenance compared to many other buildings with same amenities. It's been around a long time, and the newer buildings often have big mortgages that are being paid off or other issues that keep the maintenance high (see 111 Hicks, for example).

North Sleeper, I bet that $850 maintenance for your midtown co-op is higher now, and I bet this apartment isn't much smaller than yours was (note the 1-bedroom in the building also has a $742 maintenance) because it is the same size. Your apartment had over $100 higher maintenance back then, and I'd be surprised if the maintenance didn't rise at least $50 in 3 years, especially with the high heating costs.

I have yet to have someone show me a comparable listing for a low maintenance in a 24-hour doorman co-op building. Look, I'm willing to say that the apartment is overpriced by $100,000, but I think the maintenance is exactly in-line or low, for this kind of apt. And please don't use condos for comparison, since the taxes aren't included.

Posted by: guest at June 4, 2008 3:45 PM

bh has no amenities. montague is a joke. walked by henry street last night and that plymouth cafe was closed. it closes at 6 every night.

not my idea of a fun neighborhood.

Posted by: guest at June 4, 2008 3:46 PM

3:43 -- x-large studios with doormen in Park Slope co-ops do not have maintenance charges half of what they ask in BH. But certainly the maintenance charges in walk-up brownstones are lower. Just don't compare apples to oranges.

Posted by: guest at June 4, 2008 3:48 PM

plymouth cafe?

Posted by: guest at June 4, 2008 3:50 PM

"3:29, that's so ridiculous. You'd rather pay $600 maintenance for a brownstone walk-up in which you take turns doing all the services yourself, have no doorman, and if something goes wrong, you get a big assessment to cover it."

***
I live in a brownstone walk-up (well first floor) and my maintenance is 300 a month. And we have a management company that takes care of everything, no underlying mortgage and a hefty reserve fund.

I have no desire to live in a doorman building. It's not for me at all.

Posted by: guest at June 4, 2008 3:52 PM

wow so you can live in B Heights and have a quick walk to Court or Smith OMG its so far

Posted by: guest at June 4, 2008 3:56 PM

I don't plan to spend 450K for a studio to have to walk 20 minutes each way for some decent restaurants and shops, 3:56. If you'd like to, be our guest. The person who buys this studio at this price takes the cake for one of the biggest suckers in NYC, in my opinion.

Posted by: guest at June 4, 2008 4:01 PM

no moldings for 465k?

Posted by: guest at June 4, 2008 4:03 PM

3:52, I also don't need a doorman building, I just thought it was ridiculous to say you could use the entire maintenance to pay for a security guard to shadow you if you preferred a doorman for safety reasons. Of course people pay a premium for doormen, but I'm surprised at how many non-doormen buildings have fairly high maintenances, too. That's great you don't have an underlying mortgage and your co-op sounds like it is very well-run, but one of the listings someone posted here as a comp had a maintenance that was barely lower yet was a 4th floor walk-up. No thanks -- I'd pay that kind of maintenance for a doorman, but not for a walk-up.

Posted by: guest at June 4, 2008 4:06 PM

Is bstoner in bed with Brown Harris Stevens, or what?

Why wouldn't the 1 bedroom at 390K be the co-op of the day?

Posted by: guest at June 4, 2008 4:06 PM

Any news on the house of D meeting form May 29th?

Posted by: guest at June 4, 2008 4:11 PM

The What has an official log-on?!
Damn it that means I have to sign up also and leave the grayness.
Oh and this apartment is a joke.

Posted by: guest at June 4, 2008 4:16 PM

4:06...i was just kidding about the security guard thing. i thought it was funny, because i'd never dream of paying 750 a month on maintenance. i just wouldn't. not for a studio, anyway...

my requirement when i was looking for a place was good financials and low maintenance. and like i said...i'm not into doorman buildings...

Posted by: guest at June 4, 2008 4:19 PM

the what does not have an official sign in.

"what" does and he is a fake.

Posted by: guest at June 4, 2008 4:21 PM

4:06, I've seen Brownstoner being accused of only posting Corcoran houses, so I guess no matter what, he's accused of some bias (since the $390,000 is Corcoran).

I think many people are misinformed as to what it means to be a co-op or house of the day. It's just something to discuss, there's no endorsement of it being some great deal. In fact, today's post originally stated that the asking price seemed very high.

Posted by: guest at June 4, 2008 4:22 PM

3:46 keep walking to Le Petite Marche, Wine Bar, Henry's End, Noodle Pudding, etc.

or just keep walking until you fall into the river.

Posted by: guest at June 4, 2008 4:24 PM

The first floor in 60 Remsen is really like a second floor. The apartment in 2 Grace is on the first floor but it has a real one-bedroom layout. You pick. They are both excellent choices.

Posted by: guest at June 4, 2008 4:24 PM

Well 2 Grace is 66K cheaper and $200 a month less in maintenance...

Posted by: guest at June 4, 2008 4:45 PM

If this apartment was in Manhattan - even on the upper east Side, it would easily be $100K higher. If you want a doorman building in an established area, I don't think the price is too far off

Posted by: guest at June 4, 2008 4:48 PM

If this apartment was in Manhattan - even on the upper east Side, it would easily be $100K higher. If you want a doorman building in an established area, I don't think the price is too far off

Posted by: guest at June 4, 2008 4:48 PM

wahaaaaaaaaaaaaaaaaayyyyyyyyyyyyyy over priced for a studio. if they put the wall up and made it a jr one they could probably get away with asking this. the 390 one on corcoran is the same layout but they made it into a jr one by putting up a wall where the dining area would have been and it's now a bedroom that accomodates a queen size bed! plus it's on a higher floor..they could reverse the prices and it would make more sense

Posted by: guest at June 4, 2008 4:55 PM

It's not in Manhattan.

If this were in London it would be a million dollars.

If it were in Houston, it would be 70K.

See how dumb that game is?

Posted by: guest at June 4, 2008 4:57 PM

"I love how are you are saying where people should live."

Nooo, I'm just pointing out where they DO live. Or don't.

I never see young hipster people in Brooklyn Heights. They're like everywhere in Brooklyn BUT Brooklyn Heights.

Posted by: guest at June 4, 2008 5:08 PM

"I never see young hipster people in Brooklyn Heights. They're like everywhere in Brooklyn BUT Brooklyn Heights"

We have our exterminator hide deoderant-scented satchels throughout the Heights and that does the trick. it keeps them out.

Posted by: guest at June 4, 2008 5:49 PM

Biff, you're spot on about the fast-food comment.
It would be nice if Montague Street had some good restaurants, but the commercial rents are too high for most new non-chain places to open. That's probably one of the reasons we don't see
restaurants such as Le Petite Marche, etc opening there.
The trend is for national chains to move into every space previously occupied by an older, locally-owned business. It's driven largely by rents. Hence, the Spicy Pickle. Christ, I'd take the ancient and maligned Armando's any day.

Posted by: guest at June 4, 2008 6:00 PM

When folks in the Heights go out to a fancy dinner they usually go to Manhattan, or if they are feeling adventerous, go to Smith Street ten minutes away. It isn't as if the Heights is a remote outpost. Montague Street is the supermarket/deli/bank/real estate office street. The nicer restaurants are elsewhere in the Heights. It is true that we are sadly lacking Ethiopian/Malawi fare, but them's the breaks.

Posted by: guest at June 4, 2008 6:20 PM

bh = snoozefest

Posted by: guest at June 4, 2008 7:47 PM

bh = snoozefest = heaven

Posted by: guest at June 4, 2008 7:59 PM

I am a renter in 100 remsen st. last year there was a 1 bedroom apt on the market for at least 6 months. the asking price was $385,000 and i dont know what it eventually went for or if it did indeed get sold but all i know is that those open house signs were up for a very, very long time. I looked at it out of curiousity and it was large (prob 600-700 sq ft) and in very good shape except the kitchen was on the older side. i dont remember exactly but i think the maintanence was between 800-1k/month.

Posted by: guest at June 4, 2008 8:25 PM

I think the hipster deficit is realy hitting the Heights hard. Another piercing shop, a mom and pop, closed its doors. the tattoo guy on Clark is barely hanging on, and the hashish seller on Cadman and Pineapple finally gave it up and moved to Park Slope.
the whole place is just going down the terlet.

Posted by: guest at June 4, 2008 9:26 PM

4:55pm - I agree that the $390,000 1 bedroom in the same building is a good comparison. However, I don't necessarily agree that if the apartment is exactly the same floor plan, just having a wall to make it a proper 1 bedroom makes it more desirable. If there's just one person living in the space, it's actually nicer to just have a pretty screen to close off the alcove (which is what I did). That way, the light from all the windows, including the "bedroom" lights the entire apartment.

This apartment is much larger than the typical studios that were listed here as comps, and I doubt this price is asking $1,000/squ ft. But I have seen typical brownstone floor throughs these days listed at half a million dollars (if not more) and I don't think the usable space is any better in most of those.

I'm not defending the price here -- I'd certainly go for the lower priced one myself unless there's some catch to the condition that one is in. But I'm a cheapskate and that's a studio I'd rent for $2,500 when I wouldn't pay half of that for the usual studio, and I would NOT pay that price for a brownstone floor through with no services. So I think it's fair to have a comparable price, despite my thinking everything in Brooklyn is at least 50% overpriced and that prices will be falling soon.

Posted by: guest at June 4, 2008 9:55 PM

overpriced apartment in an overpriced neighborhood with underpriced residents.

Posted by: guest at June 4, 2008 11:03 PM

this thread is a clusterfuck.

$465k for a studio would make sense in manhattan.

brooklyn heights is not quite there yet, sorry.

considering one bedrooms in blue chip brooklyn are readily available for this price or less, it makes it even more absurd.

Posted by: guest at June 5, 2008 12:36 PM

I was so excited to visit Brooklyn Heights when I moved to NYC a few years ago. I got there and it was such a letdown. Gorgeous houses, of course of course. But the commercial areas were so bad. I was really shocked at that. There's one diner that's been there a long time that had the best pea soup I ever had in my life, though. I love a good diner, every neighborhood needs one (ours doesn't have one; grrrr waahhh).

Even if Brooklyn Heights doesn't have the hipster quotient they sure have residents with money. Who should be spending it locally and not just in Manhattan.

I bet the issue is really about the commercial space not being anywhere near affordable to all the hip new restauranteurs and boutiques, most of whom aren't going to lay out a ton of money on a lease when they need to spend a lot of money on a beautiful well-done buildout. The bar is set really high these days for chic interiors in restaurants and shops. So if they can't afford the storefront spaces somewhere then they ain't going there. Thus the fears over where Park Slope is headed with their greedy landlords and rising rents.

Posted by: guest at June 5, 2008 1:42 PM

This place seems overpriced at first glance, but I suspect there's a singleton out there who's been waiting for something just like this--high end kitchen/bath, doorman, elevator in a pleasant neighborhood that's equidistant to Midtown Manhattan and Park Slope.

The maintenance does seem high; the 34% deductible is pretty low.

But as usual, the market will decide.

Posted by: guest at June 6, 2008 12:51 AM

@12:51: Replace "singleton" with "simpleton" and you are correct.

Posted by: guest at June 6, 2008 6:01 PM

I didn't make it to the open houses this weekend but i hear that the one for 390K had an offer as soon as the open house started (and it should since it was grossly underpriced for a jr one bdrm). not sure what happened with the unit mentioned in this thread. I also hear there were a total of 4 open houses in this building, for all different reasons (deaths, growing families, etc)

Posted by: guest at June 9, 2008 8:28 AM