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March 11, 2009

Condo of the Day: 430 Clinton Avenue, #4D

We're liking the feel of this one-bedroom FSBO at 430 Clinton Avenue in Clinton Hill. The clean, modern take on the prewar space is light without sacrificing the charm of the original space. The asking price of $475,000 is quite a bit more than what a one bedroom across the street at the Clinton Hill Co-ops would cost, but this place has a lot more character and more space; the loftiness of the living area is particularly nice. The asking price represents a premium of about less than 10 percent over what the current owners paid for the place back in the summer of 2007. Think they'll get it?
http://430clintonavenue.blogspot.com/
430 Clinton Avenue FSBO [Blogspot] GMAP
430 Clinton Avenue, #4D [NYT/FSBO] P*Shark

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Comments

Nice kitchen. Delusional price.

Posted by: SnarkSlope at March 11, 2009 12:42 PM

how is this a decent buy when the per sq.ft. price is comparable to similar places in the previously discussed posts about cobble hill (sartori thread)?!

delusional indeed.

Posted by: goldie at March 11, 2009 12:49 PM

this is the third or 4th time ive seen a posting for a condo or co-op sportin' a zebra skin rug. is this all the rage these days!?

*r*

Posted by: PitbullNYC at March 11, 2009 12:49 PM

Sorry folks, this is way too expensive.

There are really nice 1 bedrooms for sale right now in PRIME (named streets near the Park) areas of PS for 400K and under.

I know I know...some people prefer Clinton Hill...I get that. But in this economy it makes no sense to pay this much for a 1 bedroom in this area.

Really nice looking place, though.

Posted by: 11217 at March 11, 2009 12:56 PM

Based on P-Shark, these people paid 435K in August 2007 for this unit - The peak of the market. Now they want this thing to move for 10% over that in a year and a half.

Not feeling it.

Posted by: newsouthsloper at March 11, 2009 1:02 PM

Sorry for the off-topic post, but I just noticed that the 3.85 million dollar spread featured here last week or the week before in the Montauk Club says "No Longer Available" on Streeteasy.

What does that mean? That it sold already? Or maybe just taken off the market?

Posted by: 11217 at March 11, 2009 1:03 PM

I would have said this was a decent price six months ago. Now all bets are off. Someone might bite at this price, but I suspect a cut will be in order.

Posted by: wasder at March 11, 2009 1:03 PM

It's already been cut from 495K.

Posted by: 11217 at March 11, 2009 1:08 PM

A lovely space, but I wouldn't even consider it unless it dropped by 100k. And even then I'd be iffy. I'd have to walk around the area a lot. A friend who's about 6 or 7 blocks from there complains that there are no grocery stores, restaurants, etc.

Posted by: alsawo at March 11, 2009 1:10 PM

alsawo--lack of grocery stores and restaurants is decidedly not a factor at this location. The location is awesome. The only question is whether or not a one bedroom apt has any business in this climate being listed at this price (in any neighborhood).

Posted by: wasder at March 11, 2009 1:16 PM

without knowing which direction your friend lives in, 6 or 7 blocks can make a huge difference in the availability of services. that goes for nearly any neighborhood in the city. 6 or 7 blocks could potentially put you as far away as Franklin Avenue (Bed Stuy) or the other side of Atlantic Ave (Prospect Heights).

Posted by: TD at March 11, 2009 1:19 PM

Sorry wasder...I love Clinton Hill too (and Clinton Ave) but for a young single professional (the most likely buyer of this apartment) it is far from restaurants and services.

Most people want to be able to step outside their door and have things within a minute or two. The buyer of this place SEVERELY overpaid in 2007.

Why would you pay anywhere near this price when you CAN get a 1 bedroom in a neighborhood (Cobble Hill, Ft. Grene prime, PS etc) and literally walk outside your doorstep to restaurants and subways. That's why many of us live in NYC afterall.

The whole point of non blue chip areas or whatever you want to call them is because it's supposed to be a lot cheaper (and you sacrifice on a longer walk to grocery stores, etc). The problem with many properties I see in Clinton Hill is that the sellers are delusional.

Posted by: 11217 at March 11, 2009 1:24 PM

For that kind of money, you will soon be able to buy a 1bd in Manhattan... Clinton Hill is way over rated. It's still a dodgy neighborhood because of the massive projects near by. I wouldn't raise a family there... People seems to have lost sense of the value of money. If you think price is right compare to what they are charging in Manhattan or Park slope, think again! You've been used to these overinflated price that don't make any sense with the average income. You have to rethink your approach or you'll be soon underwater like the rest of these morons if you're buying at these prices.

Posted by: stringer at March 11, 2009 1:25 PM

Compares unfavorably with the State Street apartment from yesterday on price. They did a nice job with the photos though.

Posted by: etson at March 11, 2009 1:31 PM

I agree that you will likely be able to buy a one bedroom in Manhattan at this price but the following statement ("It's still a dodgy neighborhood because of the massive projects near by. I wouldn't raise a family there...") is so ludicrous as to be deserving of a response. For one, on a factual level, there aren't any projects in Clinton Hill whatsoever. On a philosophical level I take umbrage to the word "dodgy" as a description of the neighborhood--while I hate to be one to call "code" word, this one seems to request it. And its a great place to raise a family as evidenced by the thousands upon thousands of families being raised there of all races colors and creeds. You sound like a pretty close-minded person Stringer.

Posted by: wasder at March 11, 2009 1:32 PM

Totally agree that it's overpriced, but the location is great. It's a few blocks to the train (C or G) and a few blocks to Dekalb (eating, shopping). Is that really so inconvenient? Seems typical to me.

Posted by: tinarina at March 11, 2009 1:33 PM

Not soon, stringer. NOW. I just did a search and 3 PAGES of 1 bedrooms pop up in Manhattan between 450K and 500K....

Let's see...West Village 1 bedroom for 475K or Clinton Hill 1 bedroom for 475K...such a difficult choice...

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1520617&ohDat=3/15/2009%2012:00:00%20AM;

Posted by: 11217 at March 11, 2009 1:34 PM

And who is buying a one bedroom to raise a family in anyway stringer?

Posted by: wasder at March 11, 2009 1:35 PM

And who is buying a one bedroom to raise a family in anyway stringer?

Posted by: wasder at March 11, 2009 1:35 PM

stringer sounds like cornerbodega's numb stepsister. Probably never even been to the neighborhood.

Posted by: daveinbedstuy at March 11, 2009 1:35 PM

11217--having looked at that listing I don't know that I would necessarily choose that apt over this one.

Posted by: wasder at March 11, 2009 1:37 PM

Wasder,

I don't think "dodgy" is code for anything at all.

And I agree with stringer. As of this past weekend, I've now had THREE friends mugged at gun or knife point in Clinton Hill.

2 of the 3 ON CLINTON AVENUE!

That's certainly can be described as dodgy by some.

Of course these things happen everywhere all over the city, but they do seem to happen more frequently here.

Can you admit that at least?

Posted by: 11217 at March 11, 2009 1:37 PM

offer $400K. deal.

Posted by: Fjorder at March 11, 2009 1:38 PM

"11217--having looked at that listing I don't know that I would necessarily choose that apt over this one."

I was simply giving an example. If you ask 95% of most buyers in the market for a 500K 1 bedroom, I do think they'd choose the West Village over Clinton Hill.

Posted by: 11217 at March 11, 2009 1:39 PM

11217--i was unaware of the crimes you describe so I certainly wouldn't disagree with you that mugging is "dodgy". I did live 7 years a block from that location and never had a problem. I am sorry to hear about your friends and certainly don't mean to downplay their situations. Its just not my personal experience with the neighborhood. When someone says a neighborhood that has no projects at all is "dodgy" because of the "massive projects" in it I have to respond.

Posted by: wasder at March 11, 2009 1:41 PM

You can offer 400K, but I firmly believe this will be "worth" 300-350K this time next year.

Posted by: 11217 at March 11, 2009 1:41 PM

As a matter of fact i was in Clinton Hill yesterday, i know the hood over there, and i'm sorry i don't think it's a great hood at all... I don't feel worry when i walk around 'cause i'm a big guy but all my friends who have been mugged in the street in Brooklyn, 6 out of 8 were mugged or robbed around the Fort green/Clinton hill area... Read the papers fellas, it's all over the place...

Posted by: stringer at March 11, 2009 1:43 PM

"i know the hood over there"

So where are these massive projects of which you speak?

"I firmly believe this will be "worth" 300-350K this time next year."

I don't disagree with you here 11217. I might disagree with the reasons that is so but not with this bottom line conclusion.

Posted by: wasder at March 11, 2009 1:46 PM

I agree wasder that equating projects with dodgy is wrong.

I don't think of things in those terms though. A certain amount of "dodgy" is to be expected when you're getting a bargain.

This is so NOT a bargain by any stretch of the imagination.

Like I said...I LOVE Clinton Hill and wouldn't be opposed to living there, but only if prices were cheaper than I could get in areas (like where I live now) where I walk out my door to 100 restaurants, bars, 3 grocery stores and the Q and 2/3 trains.

That's just the way I view real estate though. Location, location, location.

Posted by: 11217 at March 11, 2009 1:47 PM

From St James to Franklin between Lafayette and Myrtle.
Don't turn it into a racial thing Wasder, that's not what i meant. My point was to relate housing prices to the quality of life you get from the Neighborhood. Yes there are some nice streets w/ nice brownstones over there, but the surrounding is shitty. I don't need anyone to convince me otherwise, i've seen enough to forge my own opinion.

Posted by: stringer at March 11, 2009 2:02 PM

I vaguely recall reading that the Gates / Vanderbilt corner was a persistent drug dealing site.

Posted by: edgeland at March 11, 2009 2:05 PM

I don't doubt you 11217 but my wife and I have lived here for 8 years and have never had problem with anyone.

Posted by: eh at March 11, 2009 2:27 PM

Ive spent much time on FG/CH and can attest that while the surrounding blocks are pretty (except the clinto coops which are fugly), and there are a whole slew of restaurants walkable on Dekalb, the other amenities suck. The only viable grocery option is the crappy associated (the bigger one on Myrtle is a bit far). The apt. is a bit overpriced in my opinion. If you are intent to live right there - i would buy in the co-ops for a whole lot less.

Posted by: saminthehood at March 11, 2009 2:31 PM

I live in Clinton Hill and think this is way overpriced for a 1 bedroom. Most of the 2 bedrooms in the area are going for this price. Our 1 1/2 bedroom in the Clinton Hill coops was about $100,000 less 2 years ago.

Posted by: chnewbie at March 11, 2009 2:33 PM

1) Nice looking apartment and near lots of restaurants and decent services (but not too close to any non-rat infested decently sized groceries -- you are limited to the small, but nice korean grocers)

2) Way, way, way too expensive (by at least 100k)

Posted by: cortnyc at March 11, 2009 2:43 PM

From St James to Franklin between Lafayette and Myrtle.

These are the University Houses co-ops stringer, not public housing projects. As I said, I am usually the last one to lob around the "code word" thing but you made an untrue and very sweeping statement that seemed to have a subtext behind it. I sincerely apologize if this was not your intent. I don't know you and can't in a reasonable mind call you racist. I just wonder what your agenda is to make such sweeping and untrue statements.

Posted by: wasder at March 11, 2009 2:50 PM

To amend my previous post, the buildings from St James to Classon are the University Houses. AFter Classon you are technically in Bed Stuy. Don't know if the buildings between Classon and Franklin are public housing or not.

Posted by: wasder at March 11, 2009 2:51 PM

Many good hoods in NYC are surrounded by "dodgy" areas. Dumbo, Park Slope has 4th Ave, Boreum Hill has south of warren, UES had spanish harlem. It's the nature of living in a city. What's nice about Clinton Ave is that there is not 100 bars and resturants within walking distance. Clinton is quite peacefull at night except for the occasional crack-head rant at 4AM, again city living.

Posted by: DeLepp at March 11, 2009 2:51 PM

^^^^dodgy is relative. the 'dodgy' of 4th ave is no comparison to the dodgy of the PJ near Dumbo. I'll walk 4th ave alone at night anytime over the Dumbo PJ thankyou.

Posted by: goldie at March 11, 2009 2:58 PM

I don't consider 4th Avenue dodgy at all.

Ugly, yes. But not dodgy.

We all have differing ideas of dodgy clearly.

I find that walking in the darkness and quiet in Clinton Hill rather terrifying at night, myself. And I have a pretty high tolerance.

Posted by: 11217 at March 11, 2009 3:03 PM

lived here for 7 yrs. No incidents. no complaints. Raising family here. love the hood - especially the ease of finding parking spots (2nd to none). To each his own. As there are tons of listings that compare favorably to this one, I can find & name a bunch that compare unfavorable. That said thought, this does seem a little high (ie 60k high).

Posted by: more4less at March 11, 2009 3:04 PM

No Sweat Wasder, sometimes the tone gets lost in this digital world.
These university co ops look like Projects to me. While the border between Fort Green, Clinton Hill and Bed Stuy is not quiet clear in my book, i think most got what i was talking about. Yes, you may not want to raise a family into a 1 bedroom apt, but i'm also convinced that people who are gonna buy an apt right now will intend to stay 5 years or more in their new home vs flipping it within a year.
This apt is too expensive for a single person while couples have and will have better options to pick from.

Posted by: stringer at March 11, 2009 3:05 PM

I just moved recently to Clinton Ave (same block as this place) from Downtown Brooklyn/Fort Greene. I feel a MILLION times safer here than I did in my previous location. There are plenty of restaurants within close walking distance from this location. There are a bunch on Dekalb and lets not forget that Prospect Heights is just on the other side of Atlantic which is only about 3 or 4 blocks from here. Super Associated isn't that bad it just closes at 8 every night. If you want specialty groceries just walk down Greene to Greene Grape Provisions..5 min walk. The C is a 1-2 minute walk..it takes me 23 minutes to get to the meat packing district where I work. If you need to get to the east side you can transfer across the platform for the F at Jay St...takes my husband 30 mins to get to work at 24th and Madison. You also have a million buses. I just don't see the "dodginess" or the inconveniences you all are talking about here..

Posted by: boofer at March 11, 2009 3:15 PM

Where are there decent sized two bedrooms in Clinton Hill for that price? I haven't seen them.

PS. Lafayette Gardens (Lafayette btwn Franklin and Classon) are definitely NYCHA.

Posted by: serpentor at March 11, 2009 3:29 PM

"Super Associated isn't that bad it just closes at 8 every night"

That's a problem, since I don't get home from work till 7:30.

You don't think THE grocery store closing at 8pm is an inconvenience?

I sure do.

As would most single people looking to plop down 500K for this apartment, I'd think.

Posted by: 11217 at March 11, 2009 3:36 PM

Do you always do your grocery shopping at night after work? Have you ever considered doing it on the weekend? If you run out of something after 8 you can run into any of the bodegas or like I said go to Greene Grape.

Posted by: boofer at March 11, 2009 3:42 PM

I don't shop like that, boofer. I'm a single person and I like fresh food and cook a lot.

I shop in the evening and dislike Fresh Direct.

Key Food on 7th is open till midnight, there's a bodega one block away which is open 24 hours and the Key Food on Flatbush is open 24 hours.

All are within a 3 minute walk of my house.

Different strokes for different folks. Maybe the person buying this will work very long hours (they'd have to to be able to afford such a place) and don't do much grocery shopping...

Posted by: 11217 at March 11, 2009 3:51 PM

While it's sad (in a way) that people are losing their homes, maybe this will start people thinking that they should spend 1/2 a million dollars on a ONE-BEDROOM apartment...

And maybe the market will start reflecting what real people can afford. (OH, and in that I include the folks that have overleveraged their $70k income and thought buying was the only thing to do... and now wonder how they can fit a baby in their 1-bedroom apartment with the ever-rising maint. fees)

Basically, my message... stop paying the $$ and the prices will come down. It's how the market works. Keep going the way we're going (i.e., an emergency $2000 expense means you can't make your mortgage payment) and we're all sunk.

Posted by: tybur6 at March 11, 2009 4:13 PM

Oh... and by the way, the reason I was talking about people losing their homes is because I was being charitable to the seller. I am HOPING they are selling because of something bad that happened, and not just another douche bag that bought inappropriately and treated this purchase like it was a year lease.

Posted by: tybur6 at March 11, 2009 4:14 PM

11217,
You seem a bit out of touch with this neighborhood.
I’ve lived on this block for decades.
I ‘ve been mugged in the 80’s and early 90’s in the late night/early morning but the area has changed considerably. I do not feel threatened on the street alone at any time. There’s an Associated supemarket 2 blocks away. There’s another Associated supermarket on Futon (5 blocks) away that is open late, last time I shopped at night I think they were open to 9:30 (maybe 10PM?). 24 hr. Bodegas within 1.5 blocks. Restaurants, Bedogas, bars on Dekalb 5 blocks (=5 mintues walk). Or, walk down Green/Laffeyette towards dining, bars maybe 10 minutes. Myrtle dining/commercial area is also a 5 minute walk.
Two subway trains 1.5 blocks walk in either direction . Plenty of bus lines.

I for one am pleased NOT to have view, or hear, a supermarket across the street from me…or worse, on the ground floor of my building. I prefer the beautiful peaceful residential street that is Clinton Ave.

Posted by: Oxygen at March 11, 2009 4:45 PM

"I ‘ve been mugged in the 80’s and early 90’s in the late night/early morning but the area has changed considerably"

That's cool.

The 3 friends I reference have been mugged within 5 blocks of this apartment...2 in 2008 and 1 in 2009. I'm sure it's changed considerably, but it's not changed enough for me to be inclined to spend the prices asked for the homes and apartments I see listed here.

BTW (2 of those said 3 people have left the neighborhood since the muggings and the third will be leaving when their lease expires in April). 2 of the muggings were quite brutal.

Posted by: 11217 at March 11, 2009 4:55 PM

It's never a good thing to be mugged.

Independent of neighborhoods, folks need to know how to walk on streets, particularly if they are alone on deserted streets late at night. You can't be walking staring at the ground oblivious to what is around you. That sends certain signals. Even a tiny female walking down the street and situationally aware, will project a vibe that will repel a mugger.

When I first came to NYC in the early 80's I saw a man get beaten in the face by a 5 foot long crowbar...in East Soho. Got struck in the eye and his eye turned into a bloody peach. Then, struck about the body several times with the crowbar, with tons of people standing within just a few feet people standing around watching. My intro to NYC.
About 10 years ago, I saw the jewelry store owner on Macdougal St. (between Bleeker and 3rd St., I believe the store was called C’est La Vie?) laying on his back, dead, with his throat slit in a pool of his own blood soaking the carpet.
Of course, you live here long enough, you see all sorts of stuff.
I’m sure if you are a cop in any precinct house, you’ll see all types of criminal sitting in your holding cell before being on his way to central booking.

To bad it is so difficult to get a CCW here in the Big Apple.

Be safe.

Posted by: Oxygen at March 11, 2009 5:27 PM

Sorry to hear about your friends 11217, but I've lived here for years and never had a problem. Didn't we already have this discussion months ago where you said Clinton Hill is a dodgy area in relation to some other house? Seems like you have a bee in your bonnet.

Posted by: 1842 at March 11, 2009 5:28 PM

Really interesting article I just read about previous downturns in NYC...

The complete article and I excerpted some of the more interesting parts...

http://www.crainsnewyork.com/article/20090311/FREE/903119970

****

The report, “State of New York City’s Housing and Neighborhoods 2008,” examines more than 30 years of sale-price data to identify trends that might be useful to residents and city officials as they cope with the current downturn. It identifies two great real estate upturns (from 1980 to 1989 and 1996 to 2006) and two big real estate downturns (from 1974 to 1980 and 1989 to 1996).

Citywide, real estate prices declined 12.4% between 1974 and 1980, then jumped 152% between 1980 and 1989. They fell 29.3% from 1989 to 1996 and increased 124.2% from 1996 to 2006. Overall, prices skyrocketed 250% from 1974 to 2006, when they began to level off across the city as the latest real estate boom ended.

Local gains during the recent boom were strongest in the Manhattan neighborhoods of East Harlem (sextupled between 1996 and 2006), Morningside Heights (quintupled) and Washington Heights (quadrupled).

Interestingly, a neighborhood’s performance during the 1974-1980 housing bust had little relationship to how that neighborhood fared in the next downturn, the report shows. And high-income neighborhoods were not insulated from busts and did not always perform best in upswings.

In the 1970s downturn, prices declined 16% in the Bronx, 14% in Queens, 13% in Brooklyn and 8% on Staten Island. They actually increased 29% in Manhattan.

During the 1989-1996 downturn, some of the poorest neighborhoods in the Bronx and Brooklyn fared relatively well. Prices actually rose in three neighborhoods in the Bronx and in two in Brooklyn, and the neighborhoods that avoided the worst were ones that had seen huge drops during the 1970s downturn. From 1989 to 1996, prices fell 33% on Staten Island, 32% in Manhattan, 31% in the Bronx, 29% in Queens and 26% in Brooklyn.

City investment in renovation, rehabilitation and new construction of housing helped stabilize home prices in the 1990s downturn, according to the report.

All of the 10 neighborhoods that held up best during the early 1990s downturn received well-above-average public investment in its housing stock, while the areas that saw the biggest declines received little or no investment from the city, the report shows.

Posted by: 11217 at March 11, 2009 5:30 PM

Well, congrats on your late night supermarkets. Considering it's so important to you I would say you are in the ideal spot. You keep referencing the fact that you're single as if that makes your grocery needs different than mine. I'm only 27 years old and don't have kids so I would say I fall under the same category of need as young singles. I also enjoy fresh food...I don't know many people who don't. I doubt the grocery store, which is a 1 minute walk from this location, closing at 8pm will ultimately be a deal breaker here. Where I'm living now is better as far as bars, restaurants and grocery shopping plus proximity to the train and buses then when I lived on Cranberry and the promenade where people spend millions to live. And by the way, people get mugged in every neighborhood in NYC. I have a friend who was mugged in Park Slope and and a neighbor who was beaten and robbed in Brooklyn Heights.

Posted by: boofer at March 11, 2009 5:58 PM

What is wrong with stringer and 11217 tonight? Why the hate filled posts? There was a young man killed in Prospect Park this past weekend, does that mean that 11217 is leaving? What about Williamsburg and all of those people who don't wash their hair, and all of the Hasidim and Latinos that live there? Does he find them problematic or a joy to have in the neighborhood, enriching its history?

The beauty of New York is diversity. You can chose to live where ever you want. Live on the UES or the UWS, live in Cobble Hill or Fort Greene, Greenpoint or Bay Ridge, but stop critizing other neighborhoods if you really don't know that much about them.

The market will determine the price, not outsiders filled with bad opinions and heresay.

Posted by: witchdoctor at March 11, 2009 8:17 PM

The 2-bedroom co-ops across the street for the same price seem much more attractive, honestly. It's a nice apartment, but I think 1-bedrooms shouldn't be close to half a million anywhere, especially in Brooklyn. I saw this place in Apartment Therapy too... so it's being marketed pretty heavily, I guess. Good for the owners and I hope they get their price, but I think they also need to be realistic. At the end of the day, it's a 1-bedroom. Remember in the 90's when 1-bedrooms started going for a song because there were so many of them? I do, and still regret not buying a place on Mercer Street for $90K, but that is another story.

Uh, and Gates and Vandy isn't a drug-dealing corner. It used to be a supermarket, and now it is a rental.

According to the police blotter, I see just as many muggings in downtown BK and Park Slope as Clinton Hill. I do agree, and have said, the long blocks and dark streets with houses offset from sidewalks are a little creepy and conducive to crime, but that is what it is. Get a dog.

Posted by: Heather at March 11, 2009 9:22 PM

For comparison sake, you can buy a similar one bedroom now in Jackson Heights for $300,000. I do think Brooklyn should command a premium, maybe $100,000 or so, not sure.

Posted by: mopar at March 11, 2009 11:30 PM

I lived in that building for several years (moved just before it went condo) and all I can say is...ARE THEY HIGH! I never had an incident with any sort of crime while there but there were some issues. I hope they did something about the lack of insulation in the walls between apartments. I do not exaggerate when I say that when your next door neighbor sneezes, you hear it loud enough to say "bless you" and will probably hear them say "thank you." Also, I hope when the building went condo, they got a new heating system. It was not uncommon to wake up with no heat nor hot water on the coldest winter morning and the Super was very super at all.

Posted by: kd bkyn at March 12, 2009 1:20 AM

I also saw this on Apartment Therapy when it was listed at $495K. Everyone thought I was crazy when I commented that the price was waaaaay too high. Like by 20%. I live down the block in a limestone coop and at the height of the market a bigger 1bdrm with incredible original details sold in my building for $475K. Sadly, that apartment probably isn't worth close to that now. If you take away the staging from the above—which is fabulous—what you've got is a bright, nice-ish white box (with white country-style ceiling fans). Kitchen and bath are well done but by no means over the top luxe.

I like the moxie of the owners to wing it without a realtor but given that they'll be saving 5% on the commission, and they want to get bodies in the door, they'd have been better off starting out with $399K- $425K MAX. Even with the drop to $475, it's no doubt going to sit and the owners will have to drop yet again while the place goes stale. Not good marketing.

But here's to hoping they get their price!

Posted by: Veruca at March 12, 2009 2:10 PM

I saw this unit...twice. Great, not fantastic renovation. Very bright, airy and open.
Compared to similar unit, it more than holds its own.

However, it was immensely overpriced. Owners never seriously thought they could get $495k, so the markdown to $475 was an obvious marketing ploy. Unit is now priced at $435k with a few brokers (not sure if its exclusive

Even at $435k, which they paid in 2007, it is still overpriced. At $385k, this would be hard to pass up, except:

1) The interior building looks like a rental.
2) No in-building amenities
3) The exterior building is unremarkble at best.
4) And mtce is $417, and the building is out of tax abatement.
.
This is gonna be a difficult circumstance for the owners.

Posted by: harrytrav at March 21, 2009 11:41 PM

I saw this unit. Great, not fantastic renovation. Very bright, airy and open.
Compared to similar unit, it more than holds its own.

Even at $435k, which they paid in 2007, it is still overpriced. At $385k, this would be hard to pass up, except:

1) The interior building looks like a rental, has a number of rental units,
and probably the thin walls that go with them.
2) No in-building amenities
3) The exterior building is unremarkble at best.
4) And mtce is $417, and the building is out of abatement and taxes are $200
5) Building pays heat and hot water out of mtce. This cost will likely rise.
.
This is gonna be a difficult circumstance for the owners. I feel for them, since I'm
looking for a condo...and don't want to end up in the same place.

Posted by: harrytrav at March 21, 2009 11:54 PM

For less than the price of this onebedroom. You can get 2 bedrooms for $450K in the same building. Corcoran has unit 3C listed at $450K.

Posted by: blogpro at August 3, 2009 11:20 AM

« Brooklyn Food & Drink Round-Up House of the Day: 1182 Bushwick Avenue »

March 11, 2009

Condo of the Day: 430 Clinton Avenue, #4D

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