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November 11, 2008

Co-op of the Day: 45 7th Avenue

This two-bedroom floor-through co-op at 45 7th Avenue in Park Slope is a cutie for sure (though it's for recessed lighting fans only!). ~~While there's no floorplan,~~ we can only assume that one of the bedrooms is on the small size, as is typical in this kind of place. The living room has a nice fireplace and built-ins; there's no good photo of the smallish kitchen. The kicker: A private roof deck with killer views. All for the price of $699,000. Think that'll fly?
45 7th Avenue [Brown Harris Stevens] GMAP P*Shark

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Mr. B- there is a floorplan and yep, it's a teeny tiny 2nd bedroom 6'4" x 11' 1". Just silly really.

Would have been nice if they could have shown that reno'd bathroom.

It's o.k. but it's definitely priced too high.

Posted by: TownhouseLady at November 11, 2008 12:48 PM

It's a one-bedroom.

Posted by: daveinbedstuy at November 11, 2008 12:54 PM

I was looking 10 years ago at an open house in a similar building on this block and they wanted $800K and it was 5 separate floor through with a rent roll that was just a bit below the mortgage. I should of hustled for that one. Now you can buy one apartment, albeit in better shape, for $100K less

Posted by: funstraw at November 11, 2008 12:58 PM

Personally I find it amazing that anything is flying right now. I don't know anyone in any field whose company has not warned of coming layoffs. But assuming there are people out there who really are buying...

This is cute, but it's on 7th ave, the stairs to the deck are outside of the apartment, and the second bedroom is a nook. 599K sounds more realistic to me.

Posted by: shillstoner at November 11, 2008 12:59 PM

so stupid to say it's a one bedroom.. A room with a window is legally a bedroom. And anyone who has children knows that it basically DOES NOT MATTER how big the 2nd bedroom is for about 5 years (at least if you have one child, and even if you have two for a couple of years). If you don't have children, the size of the 2nd bedroom easily fits a single bed with trundle for guests and a desk. People's attitude on this site about small bedrooms is SO mcmansion suburban.

Posted by: gkw at November 11, 2008 1:01 PM

ps I agree it's too expensive

Posted by: gkw at November 11, 2008 1:02 PM

Roof decks are a great, but when they come at the expense of a fourth-floor walk up it's pretty much a wash, isn't it?

Posted by: McFly at November 11, 2008 1:10 PM

Legally in New York City bedrooms in new developments must have minimum dimensions of 8'x10' x 8'(height); be above grade (ie 50% or more above the curb level) and have a window.

However in older buildings as long as plans exist in the DOB archives then smaller bedrooms are grandfathered in - you'll find in a lot of old townhouses that the garden level (basement) has a ceiling height of less than 8'. My children each have a bedroom that is 6'6" by 12' and these are more than big enough for them. As long as the smallest wall can fit the length of a bed then I don't really see a problem.

And as gkw said for young children or as a guest bedroom it's not really an issue at all.

Posted by: 99luftballons at November 11, 2008 1:12 PM

Ok for $700K you really want a washer/dryer in your living room? And closet space? The listing says attended lobby and doorman! Right! It's a cute little walk-up for one!

Posted by: BH76 at November 11, 2008 1:15 PM

It doesn't say that its an exclusive deck either.

Posted by: daveinbedstuy at November 11, 2008 1:18 PM

Re: the bedroom issue - I guess one's concern about bedroom size is related to how long you plan to stay somewhere. If you have a baby, then a small bedroom is OK. But as kids get older, I think they do need a bit more space i.e. for a desk to do homework. And if you have guests, a narrow bedroom is OK for one person, but not so great for a couple. So for someone not planning to have kids, this place is probably fine, but for someone planning to have kids and/or has a baby, I think you would feel cramped within a few years - there are a lot of other much bigger 2 BR's on the market, in this same price range, that do offer real 2 bedrooms where there's more room to grow. This apt has appeal, but the price does seem very high given the size.

Posted by: Miss Muffett at November 11, 2008 1:20 PM

You're thinking of having young chidren in a fourth floor walk-up? Good luck!
The tiny bedroom should be made a part of the other bedroom so that at least there is one, decent-sized bedroom with nice closets.

Posted by: sam at November 11, 2008 1:21 PM

The deck is nice, but should be a one bedroom. Hope they don't have big bulky furniture to move in and out of the bedrooms. That turn will make anyone question why they didn't an air mattress.

Posted by: bayridgegirl at November 11, 2008 1:23 PM

Sam - I agree that having small kids in a walk-up can be a drag but it's a reality for many, many New Yorkers.

Posted by: Miss Muffett at November 11, 2008 1:25 PM

Actually it does say "newly constructed private deck," but I imagine it involves climbing a ladder through a roof hatch. Great for boozy entertaining!

Posted by: SnarkSlope at November 11, 2008 1:25 PM

Agreed Miss Muffett. We have friends who got married and immediately bought a one bedroom with a study (sort what this is). They got pregnant right away and had to start thinking about moving again.

If you're single (and planning on staying that way for a while) this would be o.k. but for anyone who has the possibility of children in their future no way.

The costs associated with selling, moving and closing on a new place far outweigh renting until you can afford something that gives you room to grow.

Ugh...imagine walking up those stairs with groceries let alone a stroller??? Forget it!!

Posted by: TownhouseLady at November 11, 2008 1:27 PM

Can you store the kids in the basement storage? That would solve a lot of problems.

Posted by: TownhouseLady at November 11, 2008 1:28 PM

instead of further debate, isnt this place like almost every other small 2BR in good locations we see on this site in that its simply 15% overpriced. This will sell for 575-600k, no doubt

Posted by: bktycoon at November 11, 2008 1:47 PM

bktycoon - agreed. Yay! bkln will be affordable again! although I guess no one will have a job then.

Posted by: gkw at November 11, 2008 1:52 PM

I doubt they will get 575-600 for this.
Not for a long time.

Posted by: sam at November 11, 2008 2:08 PM

Hey walk-up haters: in my building we leave strollers, etc. under the stairs on the entrance level.

Posted by: parkedslope at November 11, 2008 2:17 PM

Yes, we had lobby stroller parking in my old bldg too, but it can still be tiring shlepping up stairs with a couple of tired kids (baby/toddler/preschooler), groceries, etc. Yes, it's a NYC way of life, but it also is a negative re: price (1st/2nd floor can be more attractive as a result - despite trade-offs re: sunshine, etc.) Anyway, I agree with those who say that just about everything is overpriced these days, and there will have to be across the board price cuts, as is already just starting to happen, but will accelerate.

Posted by: Miss Muffett at November 11, 2008 2:31 PM

OK, I give up. Someone please help me with this. I'll reserve final judgment until I consider all testimony, but someone please explain to me the appeal of recessed lighting. Especially in a landmarked or historic house. Please. Why do people install recessed lighting, and I'm honestly lookin' for answers. I'm stumped.

Posted by: lucille at November 11, 2008 2:46 PM

Love the location (other than the street noise), but it's not big enough for my fiancee and I. We both work from home at least part of the time, and that second "bedroom" is in no way big enough to function as an office for two. Hell, the real bedroom isn't even large enough to fit all of our bedroom set. We'd have to put one of more of the pieces in the living room. Seems like it'd be a decent place for a couple who don't have to work from home and don't have kids, though. The living room's a pretty decent size.

Posted by: cwbuecheler at November 11, 2008 2:53 PM

Kids or not, a 4th floor walkup is a deal killer. We live on the 3rd floor with 2 little kids, and we're reminded of the tradeoff every single day (more space at lower cost plus humping tired whining kids and groceries = a wash). One more flight would drive me over the edge.

I just hope I've got some cartilege left in my knees once the kids are in school full time...

Anyway, a 10 x 12 "deck" isn't added value, to me. I just don't like this place, and definitely not at this price.

Posted by: Bolder at November 11, 2008 3:01 PM

I think it's a really cute apartment. I really like the living room a lot.

Posted by: 11217 at November 11, 2008 3:11 PM

The living room is a decent size IF you didn't have to dine in it too! Notice no dining table in the pictures. This is the kind of place that should be $350K -- small, walk-up, no services.

Posted by: BH76 at November 11, 2008 3:16 PM

BH76 - I'm used to dining on my coffee table, so I didn't even think about that, but you're right. If I'm going to buy instead of renting, I want someplace to at least put a small table.

That said, if it was actually on the market for $350k it would sell in about seven minutes. :)

11217 - I agree that it's very cute. I just think it's dramatically overpriced simply because it's in the slope.

Posted by: cwbuecheler at November 11, 2008 3:22 PM

That's great, parked, but it's the lugging the twenty-five pound baby and the laundry up four flights together that's the issue.

Posted by: Heather at November 11, 2008 3:34 PM

I see we have another broker who actually believes this building was built in 1921, just because that's what's on the records in the DOB. Common sense should dictate that the information is wrong. I don't understand how you can sell a product, in this case real estate, and not know basic facts about said product.

Posted by: Montrose Morris at November 11, 2008 3:56 PM

MM: Haven't you heard of the important neo-brownstone revival movement of the 1920's?

Posted by: sam at November 11, 2008 4:24 PM

The pass-through kitchen, new walls with no trim, the ceiling fan, and the recessed lighting are horrible. Plus it's not big enough for a couple. I used to live in a prettier, bigger apartment with a similar layout. The "second" bedroom is the closet.

Posted by: mopar at November 11, 2008 5:17 PM

i don't think that the apt is horrible, but ridiculous price tag. it is essentially only comfortable for a childless couple, or a couple with a baby (maybe), but why oh why would you spend your money on this. there are new 2 bedrms out there with A/C for this price especially given that this place lacks the details for the brownstoner crowd and wouldn't cut with people looking at new condos and their finishes.

Posted by: wine lover at November 11, 2008 10:17 PM

So true, wine lover. Of course they'll charge whatever the area gets per square foot.

Posted by: mopar at November 11, 2008 11:30 PM

« New Rule for New Buildings: Bike Parking House of the Day: 72 Hicks Street »

November 11, 2008

Co-op of the Day: 45 7th Avenue

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