Co-op of the Day: 75 Prospect Park West

This two-bedroom, two-bath co-op at 75 Prospect Park West has a nice, understated feel to it. While the fourth-floor, 1,350-square-foot apartment has prewar charm and views of the park, we suspect the reason the bathrooms and kitchen didn't make the photo cut is that they might need a little work. Still, an apartment of this size, type and location for $899,000? Doesn't seem crazy. Then again, it's been on the market since April, most of the time at $949,000.
75 Prospect Park West [Douglas Elliman] GMAP P*Shark

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I guess "estate condition" means the 85-year-old lady who lived here with 4 cats that peed on the floor has died.

It could be really grim. At this price, even in a down market, you'd have to assume it needs a lot of work. New kitchen and 2 baths could easily run 100k, if not more. So I think a reasonable comp. would be what's on the market for $1 mil.

Having said all that, I wish this was available 2 years ago when we bought a similar space w only 1 bath for the same ask...sigh.

Posted by: Bolder at November 20, 2008 1:10 PM

I don't know about price.
Could be a nice place....
But I want to flip the kitchen with the maid's room.
Turn part of the kitchen into the foyer and turn the gallery into a walk-in closet and office.
Add wall-to-wall closets in the larger bedroom along the south wall.

Posted by: bayridgegirl at November 20, 2008 1:11 PM

it sounds like it needs a lot of work!

Posted by: new2hood at November 20, 2008 1:12 PM

Pull the wall out between the kitchen and the maid's room, add an island and a flat screen and you have a great space for entertaining. Keep the DR formal.

Posted by: daveinbedstuy at November 20, 2008 1:14 PM

I think it's lovely. And if you could get it for, say, 849, a deal. Then again, if you have an apartment to sell you have to sell in order to buy this, maybe that's trouble. Who the hell knows these days.

Posted by: Ringo at November 20, 2008 1:20 PM

Make the kichen/maids into a eat-in kitchen with entry on the gallery. Block off the entry from the kitchen, gallery, and living room to the dining room. Make the dining into a third bedroom, with a little hall leading to all three bedroom ands the bath from the living room.

Whatever your do, it'll be lots of $$, and 900K is too much to ask.

Posted by: shillstoner at November 20, 2008 1:31 PM

Does anyone living in a 1,350 sf apartment these days actually still have a maid that lives in a maid's room? Just wondering...

Posted by: Biff Champion at November 20, 2008 1:43 PM

Only in Hong Kong Biff.

Posted by: daveinbedstuy at November 20, 2008 1:48 PM

the maid's room is where you keep the gimp.

Posted by: z at November 20, 2008 1:49 PM

We saw this apartment the day it went on the market months ago. Has a lot of space and good "bones", but is in terrible shape. Bathrooms are disasters, non-functional kitchen - to say it needs a lot of work is an understatement. Very much still overpriced, and high maintenance.

Posted by: jasong at November 20, 2008 1:52 PM

'the maid's room is where you keep the gimp.'

Biff, you know what you can keep there don't you ;)

Posted by: bayridgegirl at November 20, 2008 1:53 PM

More than updating is needed and the monthly fee is quite steep and likely to get higher. I say it will sell for 100, 000 less, that is if anyone has not invested in the stock market.

Posted by: househunt at November 20, 2008 2:03 PM

"Biff, you know what you can keep there don't you ;)"

Yes, but I would immediately be arrested if the authorities were ever to find out.

Posted by: Biff Champion at November 20, 2008 2:26 PM

Guys, look at the stock market, and the economy all around us. Deflation is the new fear. Pretty place with potential but price is WAY too high.

Posted by: Miss Muffett at November 20, 2008 4:33 PM

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November 20, 2008

Co-op of the Day: 75 Prospect Park West

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