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October 7, 2008

Co-ops of the Day: Head-to-Head In The Slope

coops-park-slope-1008.jpg
How do these two Park Slope two-bedrooms stack up in your view? Both are pre-war; both are priced at $750,000. 209 Lincoln Place is in a large doorman building and has a monthly maintenance of $918; 862 President Street, which is in a brownstone, has a maintenance of just $600. From where we stand, we think 209 Lincoln Place has a slight edge, but they're both very nice.

Update 1:22 pm: It's neck-and-neck, with 862 leading 22 to 21.
Update 2:25 pm: 209 is out in front by 54 to 48!
Update 4:55 pm: 209 Lincoln now winning 86 to 71.

209 Lincoln Place [Brown Harris Stevens] GMAP P*Shark
862 President Street [Douglas Elliman] GMAP P*Shark




Posted by Brownstoner at 12:40 PM | Comments (19)
Categories: Co-ops, Park Slope

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Comments

How about this one for 150K cheaper?

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1394073&ohDat=10/12/2008%2012:00:00%20AM;

Posted by: 11217 at October 7, 2008 12:50 PM

or this one for 100K less...


http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1406258&ohDat=10/7/2008%2012:00:00%20AM;10/12/2008%2012:00:00%20AM;

Posted by: 11217 at October 7, 2008 12:53 PM

are they both in 321?

Posted by: Rookie at October 7, 2008 12:58 PM

Wow, 11217, the first one seems too good to be true. What's the hidden problem? Is there a free lunch after all?

Posted by: cmu at October 7, 2008 1:04 PM

president is in 321; lincoln is in 282. (lincoln is in district 13, where the middle schools are not considered as good as district 15's.)

Posted by: i disagree at October 7, 2008 1:06 PM

CMU, I don't think there's a catch and I agree it's BEAUTIFUL. I'd buy it if I had the money. I think the only drawback I see is the narrow bedroom off the living room, but for that price, with THAT maintenance and on that block, I think it's a deal. The building itself is absolutely gorgeous.

Posted by: 11217 at October 7, 2008 1:07 PM

Honestly I wouldn't want to live in either of them. I remember when $450,000 seemed crazy for a floor through of a brownstone - would like to see us get back to those days.

Posted by: gkw at October 7, 2008 1:08 PM

Looks like 2B in Lincoln Place listed for $765,000 and sold five months later for $695,000 back in the golden days of 2007. 9B will move quickly at $600k.

Posted by: SnarkSlope at October 7, 2008 1:21 PM


Look at the floor plans before votings, if you can. The Lincoln Place apartment is much better laidout, and every room is bigger.

Obviously, the if you have a kid to send to 321, you need to factor that in. But if you do not, or you think that 321 is overrated, this is not even close.

Posted by: ceolaf at October 7, 2008 1:22 PM

Agree with ceolaf. That second "bedroom" in 862 President Street is a joke.

Posted by: SnarkSlope at October 7, 2008 1:27 PM

Wow, just looked at the President Street floorplan, and not only is it set up similar to my first link, but it doesn't have the office/alcove that the one on Berkeley has....FOR 150,000 LESS!!!!

Posted by: 11217 at October 7, 2008 1:40 PM

to me, these are very different properties and it is tough to compare them. I'm a big fan of small, brownstone buildings with lots of charm and the President street place really appeals to me in that way. The facade of that building is gorgeous. And the remodeling looks nice. That said, the floor plan is definitely not as appealing as the Lincoln place. Lincoln place looks like a terrific 2 bedroom layout...nice foyer space with closets, spacious bedrooms, nice remodel as well. Plus, Lincoln Place looks larger. But, I tend to shy away from large buildings for some reason. I like the intimacy of a brownstone, I suppose. My guess is that the President street house is priced with 321 in mind, even though a family would quickly outgrow this space, particularly if there is more than one child. As a parent, I would choose neither, simply because I already have two kids (making President too small for us) and Lincoln is not in my preferred school district (which is 107 or 39). All that notwithstanding, I think Lincoln is a better deal - for size, remodel, and for people who like a large building, this one looks well-kept.

Posted by: wishinone at October 7, 2008 1:46 PM

I'm sorry, but to qualify as a room in NYC a space has to be at least 100 square feet. The "second bedroom" in the President Street coop is 7 x 6 ft, which is either a study or a roomy closet, but not a bedroom. I like brownstones, but I think that we should be encouraging their restoration as single family homes rather than collections of tiny, tiny apartments. The President St co-op would work much better as a one bedroom apartment, with the living room at the front of the apartment, with an open kitchen, then a bathroom and bedroom at the rear. Each main room should be the full width of the building, it is too narrow to do otherwise.

Posted by: bohuma at October 7, 2008 2:16 PM

FWIW bohuma, the "second bedroom" in the President Street coop is 7 x 16 ft, not 7 x 6. It's still a feng shui challenge, but it meets the 100sf rule.

Posted by: SnarkSlope at October 7, 2008 2:45 PM

OOPS! That is really tiny writing on that floorplan. Nevertheless, I still think the space would work better as a one bedroom.

Posted by: bohuma at October 7, 2008 3:17 PM

These are both very small and fairly graceless apartments.
They are also considerably over-priced. I would say keep looking!

Posted by: sam at October 7, 2008 4:27 PM

11217 - I saw the berkeley apartment. Its smaller than it appears on the floorplan and kind of cramped; the kitchen is small. Really no comparison to these two. The broker mentioned that an offer was accepted (at a bit lower than ask).

Posted by: Bredandborn at October 7, 2008 4:28 PM

Neither of these apartments looks particularly overpriced to me--even in this economy. While I'm certain you could shave off a few $$ from the offering price, I think both places look pretty nice and are in great locations. I'd probably prefer the brownstone just because I don't particularly care for larger buildings, but I bet you could snag either of these places for roughly $700-740 and it would still be a decent deal.

Posted by: johnqp at October 7, 2008 5:15 PM

Wow, the Berkeley place has only been on the market a couple weeks. Glad to hear they already have an accepted offer. I think it's a beautiful apartment from the pictures.

They just sold another place in that same brownstone last month, and it was gone within 2 weeks also.

Seems the well priced ones still move.

Posted by: 11217 at October 8, 2008 1:11 AM

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