« Inside Third & Bond: Week 75 House of the Day: 557 7th Street »

March 12, 2009

Co-op of the Day: 26 South Oxford Street

26-South-Oxford-Street-0309.jpg
We've always admired this building at 26 South Oxford Street in Fort Greene from the outside but we're not blown away by the way this ground-floor duplex looks based upon the lame photos on the NY Times listing. On a value basis though, the 1,353-square-foot pad may not be so bad given the backyard rights and the proximity to Fort Greene Park. The asking price is $699,000 and the monthly maintenance is $957. Thoughts?
26 South Oxford Street [NYT] GMAP P*Shark




Posted by Brownstoner at 12:40 PM | Comments (20)
Categories: Co-ops, Fort Greene

Trackback Pings

TrackBack URL for this entry:
http://www.brownstoner.com/mte/mt-tb.cgi/8786

Comments

Such a nice looking building from the outside, and then inside it looks absolutely terrible. Really bad.

Baseboard heating, hideous bathrooms, the floors don't look original or even necessarily real wood.

Posted by: 11217 at March 12, 2009 12:48 PM

It's a bit too Florida on the inside.

Posted by: dittoburg at March 12, 2009 12:54 PM

I'd offer $515 K; the seller also needs to include a 16-lb. sledgehammer that I'll need to demo this hideous place.

Posted by: Fjorder at March 12, 2009 12:59 PM

Been past this building dozens of times - there are a few apartments in there where you have to ask "what the f---"? With this one, the LR/DR area is really cramped because of the staircase. And the BR widths are overstated. Rec room is what it is - a dark basement space. Location (Lafayette C and Fulton G are a block away) and outdoor space will sell the apartment - but not at that price.

Posted by: saminthehood at March 12, 2009 1:10 PM

I've seen other places with similar layouts, and I always wonder: upper level reno and staging aside, how do we count the square footage for the large, nearly-windowless rec room? What psf should one pay for what's essentially a finished basement?

Posted by: tonewlots at March 12, 2009 1:19 PM

All true, but PShark leads me to believe that the current owner paid about 659,000, so are you all suggesting she should be taking a loss here?

Posted by: househunt at March 12, 2009 1:25 PM

I'm suggesting that you'd have to pay ME $699,000 to live in this apartment.

Posted by: 11217 at March 12, 2009 1:27 PM

It's not about what you paid for it. It's about what it's worth at the time you put it on the market.

Posted by: TownhouseLady at March 12, 2009 1:27 PM

really not the worst looking place, livable as is, and negotiating down the price will let you update, though the price now seems fine for what youre getting. someone, especially with a kid, would value that rec room, backyard, and location.

Posted by: goldie at March 12, 2009 1:35 PM

So how are we determining worth, Townhouselady? There was an interesting post yesterday by a person with $121 in the bank, a secure job and s/he asked it the time was finally ripe to buy. There were a slew of responses but still no one knows when we're at bottom. The listings I've seen still are asking prime prices and the brokers seem to think that if they dropped their price from 999 to 899 for a walk up in need of serious work, they've accounted for the "softening" of the market. It seems we're all -- buyers, seller and brokers alike -- still using 2007 as a marker, but if this recession is as bad as it looks, we've got quite a way to go.

Posted by: househunt at March 12, 2009 1:38 PM

Great location and yard are big pluses but I agree with what most everyone has said above about the interior. I would guess 600 even would get this sold, but who knows anymore.

Posted by: wasder at March 12, 2009 1:39 PM

Nobody is commenting on the Maintenance of almost a grand ?
Thats a big chunk together with your mortgage.

Posted by: dutchman at March 12, 2009 1:42 PM

it doesn't look that bad to me but i don't have very high-end taste. the layout makes sense, especially for someone with a toddler. 1 block from the park and a big enough yard! If i had the money, I'd seriously consider this one

Posted by: Troy McClure at March 12, 2009 1:45 PM

Wow, I saw this place ( or a similar garden apt) in this building back in 2000. The price was waay over my budget back then at, if I recall correctly, $125K. Bananas.

Posted by: Veruca at March 12, 2009 1:47 PM

I don't understand the big hoopla over the interior.
Sure I poo poo alot of interiors around here, but come on. With this apartment, the owner's ugly furniture isn't being sold with the unit. Yes, the baths are ugly, but it's not like that can't be changed.
The room sizes are decent, nice size kitchen, great rec room, back yard.
With a little creativity this could be a great apartment.

The price should reflect an apartment that needs some cosmetic work.
Lower it by 100K, then take offers.

Posted by: bayridgegirl at March 12, 2009 2:50 PM

rec room makes great office space/guest room or use the upstairs for big dining table and do tv room downstairs. also good for storage. and, great for kids - can set up toy/table/play area. space is space in this town.

Posted by: wine lover at March 12, 2009 5:15 PM

"space is space in this town."


As long as they aren't any Latinos around, right wine lover?

Posted by: 11217 at March 12, 2009 5:44 PM

Ahh what a beautiful building and amazing block. We've always wondered how great the interior of this place would be but guess "all that glitters isn't gold ". That interior will need to be ripped put completely so the pricing is way delusional even for our beloved FG. The yard and location helps a lot but this is frankly not worth a penny over $600k in our opinion.

This is not an unreasonable starting point
"I'd offer $515 K; the seller also needs to include a 16-lb. sledgehammer that I'll need to demo this hideous place".

Posted by: pierre de taille at March 12, 2009 7:56 PM

This place looks just awful. The only windows in the living/dining room have in front of them the banister for the stairway. This is a waste of that beautiful backyard. Better to live in a tent in the yard and use the apartment as a shed. You can keep bikes and kitty litter in there.

Posted by: gab at March 12, 2009 10:33 PM

This place is back on the market again after reportedly receiving a full priced offer. $699k seems very steep for a place that needs a full renovation - aging kitchen, chintzy doors, uneven floors etc. But then the monthlies are nearly $1000 per month. For such a substantial monthly contribution the building should be well taken care of, but it is not. We got a run-down vibe from every part of that building.

Posted by: searching at April 13, 2009 12:57 AM

Post a comment

Please be patient while your comment is published. It may take a moment.

Latest Restaurant Additions