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August 14, 2008

Co-op of the Day: 110 Hicks Street

110-Hicks-Street-0808.jpg
Despite a great location and attractive finishes, 110 Hicks Street continues to struggle in the market. The last time we discussed the situation back in February, the lower duplex had already been separated from the one bedroom, and had its price reduced to $1,850,000. At that point, the asking price of the one-bedroom had also recently been cut from $795,000 to $700,000. Six months later, the asking prices remain the same. Waddup with that?
110 Hicks Street, 1 BR [Douglas Elliman] GMAP
110 Hicks Street, Duplex [Douglas Elliman] P*Shark




Posted by Brownstoner at 12:39 PM | Comments (12)
Categories: Brooklyn Heights, Co-ops

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Comments

My guess is the price is too high. Brooklyn Heights is a great area, but for that price one could easily find something comparable in Manhattan or cheaper in other parts of Brownstone Brooklyn.

Posted by: qis4quincy at August 14, 2008 12:58 PM

The price is just wacko on this.
This is a one bedroom unit in a converted brownstone with
very few services I'm sure. You can buy two-bedroom units
in doormen building for close to this price nearby.
This needs a substantial reduction to sell.

Posted by: sam at August 14, 2008 1:12 PM

1. Front of house looks out at brick wall of tall building
2. Back of house looks out at giant air conditioning exhaust ducts of tall building (which blow onto the back yard)
3. Back yard gets no light
4. Garden floor needs major renov
5. Fourth floor is not on the market
6. Parlor floor is very small, since main stair is needed to service the fourth floor

= $2.6-$3m before you're done, dank outdoor space and it's still a coop!

Posted by: new2 at August 14, 2008 1:35 PM

That Duplex is going to cost $11K-$12K a month at $1.85 mm (including common charges). If you're willing to spend that much, you can do a lot better.

Posted by: Boerum Hill at August 14, 2008 3:46 PM

There's a 2-bedroom listed in my building in Chelsea for $795... virtually the same size, pre-war, elevator bldg, decorative fireplace, high floor, great street. I'll be interested to see which one sells first.

Posted by: y00phemism at August 14, 2008 5:46 PM

I mean $795K, not $795, durf.

Posted by: y00phemism at August 14, 2008 6:19 PM

new2, I agree both prices are wack but how d'ya figure that the parlor floor is small? Looks like it's 50 ft deep if the floorplan is accurate.

Posted by: NeoGrec at August 14, 2008 6:24 PM

yawn.......not selling because they are way overpriced.

Posted by: cortnyc at August 14, 2008 7:21 PM

why do people chop up nice houses like this into apartments? It's not like it's a vast mansion. it's a family house. where else in the US do decent, even affluent people buy bits and pieces of a house? It's retarded, I'm sorry.

Posted by: Gary Cooper at August 14, 2008 8:02 PM

I'm sure you've heard the saw about location. Where else in the US do Korean typhoons want a pied-a-terre for their brats? Akron? I don't think so.

Posted by: y00phemism at August 14, 2008 10:01 PM

I don't think the neighbors will welcome a typhoon to the neighborhood.

Posted by: dittoburg at August 15, 2008 8:34 AM

whoops, my freudian slip is showing...

Posted by: y00phemism at August 16, 2008 12:37 PM

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