« Inside Third & Bond: Week 78 House of the Day: 29 Maple Street »

April 2, 2009

Co-op of the Day: 59 Pineapple Street, #5I

59-Pineapple-Street-0409.jpg
While we weren't able to find a floorplan on the listing, this one-bedroom at 59 Pineapple Street in Brooklyn Heights looks like a nice apartment, the only major drawback (for some) being the lack of a separate kitchen. Otherwise, it has a cozy, prewar feel to it and a tolerable monthly maintenance of $718. Asking price: $449,000. Too pricey?
59 Pineapple Street [Douglas Elliman] GMAP P*Shark





Posted by Brownstoner at 12:38 PM | Comments (34)
Categories: Brooklyn Heights, Co-ops

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Comments

If nicely renovated one bedrooms in great blocks of Brooklyn Heights go as low as many of you are estimating, the market really is about to plummet. I have to think that this apt will have a 4 at the beginning of its sale price. 425?

Posted by: wasder at April 2, 2009 12:57 PM

Yikes...that has less kitchen counter space than my rental! If you like to cook that can be a serious problem. I can't tell by the photos (an woeful lack of a floorplan) if there is room to add a small island.

Posted by: InsertSnappyNameHere at April 2, 2009 12:58 PM

The kitchen would be great if it were in a separate room. I think all they need to do is install an island between the two rooms and it'd look much spiffier.

I'm thinking maybe 415K to 425K?

Posted by: TownhouseLady at April 2, 2009 1:00 PM

What would this rent for? 2K?

Posted by: thedudeabides at April 2, 2009 1:02 PM

Pretty apt! Without a floor plan, I assume this place is about 550 sq feet. With a likely continued downturn ahead, 600/sq feet is a reasonable offer-- especially with the somewhat pricey maintenance which is over $1 per sq foot. I'd price it lower but it has a nice roofdeck:

$375,000

Posted by: Squattersrights at April 2, 2009 1:02 PM

been in building several yrs ago...it's a lot nicer than these photos....location alone will bring a lot of traffic/lookers....kitchen ? it's a 1 br and has a fridge... bet it trades very close to ask

Posted by: bklyn14 at April 2, 2009 1:06 PM

It's so odd to me that Mr. B just took away the comments on the Flea post...I'm guessing because someone said it was expensive...??

I was actually surprised to see he didn't take down my Flea post in the Forum the other day about a big new Flea Market starting up in Greenwood Heights (20th and 4th).

Posted by: 11217 at April 2, 2009 1:09 PM

I agree, an island would look great and provide counter space. The listing says the outdoor space is private but from the furniture it looks to be communal. Does anyone know?

Posted by: cggirl at April 2, 2009 1:10 PM

I can't imagine spending almost 450 for an apartment that barely has a kitchen. Seems overpriced. But looks like a nice building and its loaded with the "prewar charm" that people seem obsessed with so I'd bet it sells north of 400.

Posted by: clintonhillbuyer at April 2, 2009 1:12 PM

11217 - When does that start? Oh never mind, I'll just go check the forum...

Posted by: SnarkSlope at April 2, 2009 1:13 PM

Where are the four rooms? Does the hallway count as a room or am I missing something?

Posted by: Carol Gardens at April 2, 2009 1:15 PM

Wait a minute. I'm seeing on the widget that someone guessed near 600k. Are we supposed to be appraising the apartment or guessing what it will sell for? If it is the latter, Mr. or Ms. 600k, care to elaborate?

Posted by: InsertSnappyNameHere at April 2, 2009 1:16 PM

I think $410-420K
I agree, the kitchen is a nice reno - but needs an island to provide more counter space and cabinetry!
Also - that terrace looks to serve the building by the likes of the photo - right?
Love the locale though!

Posted by: gemini10 at April 2, 2009 1:17 PM

Ok - now am worried people are just clicking the widget to drive prices down!
Look - there are 47 appraisals and only 8 of us have actually commented, 3 of which appraised the place above $400K - so what gives?

Posted by: gemini10 at April 2, 2009 1:18 PM

Hmmm, no mention of a Greenwood Heights flea in the forum.

Belated April Fools joke?

Posted by: SnarkSlope at April 2, 2009 1:19 PM

The widget's cool but you're always going to get smartasses at the low and high end which limits it's usefulness....the high number is silly but so are some of the bottom numbers which appear to be below 300K.

Posted by: squaredrive at April 2, 2009 1:20 PM

this unit feels very small. maybe around 500 sq ft. if so, the maintenance is high and the appraised $$$ per sq ft is more than generous

Posted by: more4less at April 2, 2009 1:24 PM

It was quite a ways down, Snark...

Here's the link...it's actually being called the Park Slope Flea, even though it mentions in the article it should be called the Greenwood Heights Flea...

http://www.brooklynpaper.com/stories/32/13/32_13_bm_ps_flea.html

Posted by: 11217 at April 2, 2009 1:25 PM

Most people will never have enough counter space, for me it's just more room for junk. People would be surprised with how little they could fmanage with, I certainly was. I say $425. Still prime BH.

Posted by: DeLepp at April 2, 2009 1:26 PM

So what is this supposed to be? Appraisal or sale price guess?

Posted by: InsertSnappyNameHere at April 2, 2009 1:27 PM

I really like this apartment and Pineapple is a terrific block. The kitchen doesn't bother me at all. I think it's nice...I'd get a small movable island probably.

The maintenance is entirely too steep though. I guessed 389K.

Posted by: 11217 at April 2, 2009 1:34 PM

is that really a private deck. . .that makes up for a lotta no counter space

Posted by: ontheparkway at April 2, 2009 2:29 PM

I guessed $400,000. After 20% down, the total payment would be around $2500 ($1800+ $700). So if you got 80K lying around, and are paying about this for a similar apartment, it makes sense.

Posted by: kdabrowski at April 2, 2009 2:34 PM

I think if the deck were private it would have said so in the listing, so my feeling is that it's communal.

Still looks nice though.

Posted by: 11217 at April 2, 2009 2:43 PM

Given the large amount of furniture - and that the deck is not mentioned in the listing blurb - I doubt it is private.

Posted by: SnarkSlope at April 2, 2009 2:44 PM

As many of you probably know Brooklyn Heights has a lot of apartments with really, really tiny kitchens. This one probably used to have a wall and door. If a renovation is done well, a tiny kitchen can be great.

I had a place on Henry near Pierrepont in the Heights with a 4' by 8' kitchen and a full window on the short wall. I was able to put in a small island and grab a little space on the inside return wall to put in a 1 deep recessed pantry. It ended up being a great kitchen to store all I wanted and cooking was a pleasure.

For benchmarks, that apartment was about 575 sf and sold in 2002 for $295K. Maintenance is now about $100/month less than this place.

Posted by: Bessie at April 2, 2009 2:47 PM

Jinx, you owe me a coke. Or a dirty martini.

Posted by: SnarkSlope at April 2, 2009 2:47 PM

We seem to be sharing a brain lately, Snark.

Posted by: 11217 at April 2, 2009 2:52 PM

you both are probably right. . .but OTOH, from the listing

Pvt. Outdoor Space: Yes

Posted by: ontheparkway at April 2, 2009 3:02 PM

Back before the last real estate bubble, an apartment with a kitchen like this would have been called an efficiency. Thus not a real one bedroom.

Posted by: BrooklynIsHome at April 2, 2009 3:14 PM

Someone said the other day that some widget users seem to be intentionally trying to drive price down but I think the opposite may be true. I mean, who could seriously think this would sell for $628K? Same thing was happening with HOTD today, where some appraisals came in so much higher than ask that it was patently absurd and I can only surmise some desperate measure to drive up the average, from an owner freaking out by what's happening these days. (Sebb?)

Posted by: Miss Muffett at April 2, 2009 9:24 PM

Ugh. This is a two room apt. In Brooklyn Heights. Ugh ugh ugh.

Posted by: mopar at April 2, 2009 11:41 PM

The widget has disappeared. I vote $275,000.

Posted by: mopar at April 2, 2009 11:43 PM

These are small apartments. The block is not one of the nicest ones; there is construction going on (empty lot near the corner of Henry). The building is charming, but I can't imagine this is going 400K any time soon.

Posted by: punko at April 3, 2009 8:29 AM

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