« Inside Third & Bond: Week 62 House of the Day: 356 President Street »

November 13, 2008

Co-op of the Day: 360 Clinton Avenue One Bedroom

This charming apartment at 360 Clinton Avenue in Clinton Hill is more than a one-bedroom—in fact, many brokers would call the 7-by-9-foot study a second bedroom. It could also be a breakfast room, we guess. Either way, it's a room you could stash a baby in for a while, but it probably won't see you through the elementary school years. The rest of the apartment has good proportions and a nice prewar vibe. Maintenance: $641. Asking price: $485,000. Waddya think?
360 Clinton Avenue [Brown Harris Stevens] GMAP P*Shark

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'Stash a Baby'

Main Entry: 1stash
Pronunciation: \ˈstash\
Function: transitive verb
Etymology: origin unknown
Date: 1797

: to store in a usually secret place for future use —often used with away
- Merriam-Webster

Posted by: bayridgegirl at November 13, 2008 12:44 PM

Now you're talking a real apartment!
This is a great layout, great buy.
Good location.

And you don't have to worry about lugging the baby, the laundry, and the groceries up three or four flights of stairs.

Posted by: sam at November 13, 2008 12:46 PM

Yeah BRG, I was intrigued by that phrase as well. It evoked images of baby snatching, kidnapping and god-knows-what else

Posted by: daveinbedstuy at November 13, 2008 12:48 PM

Zoned for ps 11, which I understand is good. This looks nice.

Posted by: Heather at November 13, 2008 12:49 PM

dear angela ferrante, please post pix of the kitchen, bedroom, or even bathroom since i spend more time there than i do in the living room anyhow.

Posted by: goldie at November 13, 2008 12:51 PM

I love this building. The true two beds are beautiful, and they just did a major repointing outside and other improvements inside. I'd love to live here!

Posted by: mksk at November 13, 2008 1:00 PM

Respect to the seller for calling the extra room for what it is. $485K is a philanthropic price.

Posted by: DOW8000SP800 at November 13, 2008 1:00 PM

Is this Clinton Hill area near the oft-discussed Asshat Hill?

Posted by: dittoburg at November 13, 2008 1:08 PM

Just curious: how many square feet do you think this is? And DOW, the price is philanthropic for whom? That is, the seller is being generous, or the buyer?

Posted by: Miss Muffett at November 13, 2008 1:09 PM

Is that the only picture on the BHS site, or is my computer acting weird?

From the plan: decent size one bedroom...I would recommend creating a wall of closets in the bedroom to the right of the door. Entire wall of nice built in, maybe in the center a spot for a TV.

Posted by: bayridgegirl at November 13, 2008 1:10 PM

Miss Muffet

Bedroom - 12x17.5 = 210
Living - 12x19.5 = 234
Bath - 5x7 = 35
Kitchen -8.5x7 = 59.5
Den? - 9x7 = 63
Foyer (looks like) 9x10 = 90
Total: 691.5 +/-

And that's figuring the numbers shown on the plan are accurate.

Posted by: bayridgegirl at November 13, 2008 1:18 PM

Thanks BRG but one thing that is very confusing about NY real estate is the lack of a standardized square footage metric. A lot of properties calculate sf based on exterior walls minus hallway (i.e. townhouses with a floorthrough apt on each floor, or 1-3 family homes). I wonder how this would compare to those, since what you calculated is usable space, but surely, if using the typical exterior wall calculation, this would be more like 750 sf, no? Anyway, just curious.

Posted by: Miss Muffett at November 13, 2008 1:22 PM

The buyer, Miss Muffet. Economic stimulus price.

Posted by: DOW8000SP800 at November 13, 2008 1:22 PM

Great great buy, easy access to bus or subway, friendly, safe area. Easily worth another $50,000...

Posted by: FloatingWorld at November 13, 2008 1:42 PM

Guess brokers have nothing better to do these days than post here.

Posted by: mopar at November 13, 2008 1:58 PM

Wow, that's a decent-sized apartment. Nice layout, lots of closets, pretty neighborhood ... Wish there were more pics but overall this seems like it will sell pretty fast.

Posted by: cwbuecheler at November 13, 2008 2:13 PM

Having just moved out of this building I must weigh in and say I think this is an excellent apartment at a great price. These apartments with this layout have been selling for 50-100G more in the last year. Of course given where the market is one could expect lower prices now. This seller seems to be pricing quite realistically for the market. This is a really special building that I had an incredibly enjoyable 7 years in...

Posted by: wasder at November 13, 2008 2:15 PM

I cannot agree that it is a fair price without some pics of the BR and the kitchen.

Posted by: Fjorder at November 13, 2008 2:29 PM

Based on the floorplans, Apt 3c is a fair comp and it sold for $375,000 last year.

Posted by: SnarkSlope at November 13, 2008 2:53 PM

3C must have been totally unrenovated. I wonder what floor this apt is on.

Posted by: wasder at November 13, 2008 3:07 PM

SnarkSlope, thanks for the reality check.

$375,000 is a little more of the "buyer's market" that I'm looking for.

(and yeah, for my fans out there. I'm squarely back on the market and so defeated by the sellers from h-e-double-hockey-styx that I'm looking fondly at coop listings.)

Posted by: serpentor at November 13, 2008 3:10 PM

"I wonder what floor this apt is on."

This is Apt 3R.

- http://www.streeteasy.com/nyc/sale/363148-coop-360-clinton-avenue-clinton-hill-brooklyn

"SnarkSlope, thanks for the reality check."

No problem, actually Streeteasy says that 3C closed for $357,000 after starting at $385,000.

Posted by: SnarkSlope at November 13, 2008 3:26 PM

"These apartments with this layout have been selling for 50-100G more in the last year."

lets see some evidence wasder. sounds a bit off...

Posted by: bktycoon at November 13, 2008 3:31 PM

Has great bones and even if the kitchen and bath need reno it still seems like a fair price. They'll sell this quick.

Posted by: TownhouseLady at November 13, 2008 4:19 PM

"3C must have been totally unrenovated."

How much does it cost to renovate one of these apartments, $100K?

Posted by: DOW8000SP800 at November 13, 2008 4:20 PM

"How much does it cost to renovate one of these apartments, $100K?"

That's about exactly what I spent gut renovating the one I lived in. The one we bought had not been renovated for 40 years. We took it down to the studs, rewired everything, stripped everything etc and put in all new everything.

"lets see some evidence wasder. sounds a bit off..." Tycoon, I just sold my apartment in this building in September. It was similar to this apt in size and had that second small bedroom/study room. We sold for well over 500. Not bullshitting and no reason to shill other than it was my place. It was top floor and on a corner so that probably helped and the renovation was really nice.

Posted by: wasder at November 13, 2008 5:31 PM

wasder -

i like this building/location/apartment a lot. i guess im just surprised that in 07 someone would have paid over 500k (or over 550 as you suggested earlier) for an apt under 700sq ft. ill agree to take your word for it since u know the place better than i do...

Posted by: bktycoon at November 13, 2008 6:06 PM

oh and wasder -

maybe its the elevator/doorman combo that i was ignoring before. its the little things that add up...

Posted by: bktycoon at November 13, 2008 6:13 PM

I can't guarantee that the square footage of this place and the one I am talking about are the same. Our place was probably a bit larger and on a higher floor corner so that was nice. And the bathroom and kitchen were done up really nicely while in this apt you don't see shots of these things (which obviously leads to the conclusion that they need total redoing). Anyway, I think this is a good price for a really decent apartment in a very nice building. But as we know I am biased!

Posted by: wasder at November 13, 2008 10:02 PM

Anything on the market now is 20% too high - the only thing slowing down sales prices are unrealistic sellers, so watch as inventory grows and prices drop. This aint florida or vegas, so I don't think foreclosures will throw prices off that cliff, but lack of demand is usually a pretty reliable bet that prices will fall, and NYC is losing jobs that support demand at a pretty good clip.

Boom days are over people, and while this might sell at close to asking, that mortgage holder will be underwater within a year or two, assuming they put down 20%....

It's been a fun bubble, and hope everyone loves the pop as much as they have the inflation...

Posted by: lalaland at November 13, 2008 10:14 PM

It's typical that an apt on the top floor in this price range will get $100,000 more than one on the third floor.

BTW, you could buy the same apt in Jackson Heights for a lot less. 15 min to midtown on the E.

Posted by: mopar at November 13, 2008 11:41 PM

« Inside Third & Bond: Week 62 House of the Day: 356 President Street »

November 13, 2008

Co-op of the Day: 360 Clinton Avenue One Bedroom

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