« Inside Third & Bond: Week 79 House of the Day: 316 Cumberland Street »

April 9, 2009

Co-op of the Day: 62 Pierrepont Street

We're loving the layout and bones of this three-bedroom apartment at 62 Pierrepont Street in Brooklyn Heights. Lots of prewar-y goodness, from the inlaid parquet floors to the large windows to the moldings. Given the lack of a photo, we suspect the kitchen may need some love from the owner, but this seems like a great space to us for a family looking in the Heights. Based on our guesstimate, the apartment is probably about 1,300 square feet, making its monthly maintenance of $1,287 reasonable and its asking price of $975,000...well, you tell us.
62 Pierrepont Street [Brown Harris Stevens] GMAP P*Shark

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Comments

3 bedrooms and ONE bathroom for this price?

Sounds high to me considering there's exactly ONE picture of the interior of the apartment.

Clearly I don't "get" the BH market...

Posted by: 11217 at April 9, 2009 12:46 PM

Wait, it only has one bathroom... based on previous posts, isn't the minimum 2-1/2 baths to even be considered?

Posted by: tybur6 at April 9, 2009 12:47 PM

"This fabulous space awaits your personal touch."

Translation...gut me.

Posted by: 11217 at April 9, 2009 12:48 PM

Even better... there should be a separate bathroom for everyone that could live there, plus one for guests. So 2-adults and 3 children... should be 5-1/2 baths for a 3 bedroom apartment. Oh, and the kitchen is waaaaay too small if you plan on cooking more than a pop tart... right?

Posted by: tybur6 at April 9, 2009 12:49 PM

I think 2 baths might be nice when you're paying a million smackers.

Posted by: 11217 at April 9, 2009 12:51 PM

unless everyone in the apt ate some bad chinese food the night before at the same time, one bathroom is more than enough. jeez.

*rob*

Posted by: PitbullNYC at April 9, 2009 12:54 PM

It seems like Brooklyn Heights has a near-infinite supply of pre-war condos/co-ops with high maintenance, in need of some work, that are priced between $800k and $1mm.

All of which would interest me a lot more if you halved the maintenance, priced them between $500k and $700k, and moved them out of Brooklyn Heights.

Posted by: cwbuecheler at April 9, 2009 1:00 PM

I don't like parquet floors - go ahead, throw stones at me. One picture doesn't cut it and the smallest bedroom has no closet. No dice.

Posted by: InsertSnappyNameHere at April 9, 2009 1:04 PM

Closets in all the "bedrooms" might also be nice when you're paying a million smackers.

Posted by: SnarkSlope at April 9, 2009 1:05 PM

Per the BHS website, asking price is now $949,000. So reduced already. Third "bedroom" is very small.
I also don't really understand the Brooklyn Heights premium, especially considering some decent parts of Manhattan are now in the same range and BH buildings tend to have very high maintenance (though this one is not too insane).

Posted by: etson at April 9, 2009 1:05 PM

InsertSnappyNameHere - I don't like parquet floors either. I much prefer straight slats, especially if they're wide and relatively dark.

Posted by: cwbuecheler at April 9, 2009 1:08 PM

One bathroom for three bedrooms is MORE than enough? Only in New York, kids...

Posted by: UrbaneMeyer at April 9, 2009 1:09 PM

Back in the day, that 8' x 9' bedroom would have been a maids room. Typically it would have had a really tiny bathroom with a toilet and mini-tub and a sink in the room.

Posted by: JoeBushwick at April 9, 2009 1:14 PM

It needs more than one bath.

Posted by: Xander Crews at April 9, 2009 1:15 PM

cw...I'm forcing myself not to rewrite your 1:08 post :)

Posted by: daveinbedstuy at April 9, 2009 1:17 PM

Agree with cw. I like the layout. If it had more than one bathroom, it would be post 1920s, and that would mean instead you'd have to have a tunnel for a living room with one little window at the end of it. As for the small bedroom with no closet, put a wardrobe in it like they used to do.

Posted by: mopar at April 9, 2009 1:21 PM

Streeteasy shows another coop on the same floor also listed by same broker at BHS. 3 bedroom, 2 bath, laundry room, fully renovated and about 20% larger. It's got nice closets and a great floorplan. Listed for 1.25 MM.

By the time you renovated this place to the same standards, you'll sink in the same amt of cash and still have a smaller space, no closets, no second bath, & no laundry room.

Waaay over priced. Decent deal at 800K but not at 975K

Posted by: Hot For Brooklyn at April 9, 2009 1:25 PM

What cw says, but you could keep in Brooklyn Heights for 400K-500K and I don't think it would sell immediately at this price

Posted by: thedudeabides at April 9, 2009 1:28 PM

This must be a flip since it sold last year for 775 per streeteasy, so I assume the kitchen and bathrooms are done (and "personal touch" means your stuff? I don't know).

If so, think mid-900s makes sense. If yesterday's Remsen place was good for a family with one kid, this works for two kids. kids share a room, parents have a room, LR, DR, and an office (for ME!). an extra bathroom would be nice, but a 3 bed/2ba will run you 300k more in the neighborhood and not everyone can swing that.

If kitchen and bath aren't redone, the price is too high.

Posted by: Ringo at April 9, 2009 1:37 PM

nice aptmt. good location. decent view. then the freaking price ruins my good feelings for it. expect more for 975k price.

wish the kitchen was a bedrm and the entry way bedrm is the kitchen.

Posted by: more4less at April 9, 2009 1:42 PM

DIBS - haha! Didn't even occur to me that it could be uh ... interestingly rewritten.

Posted by: cwbuecheler at April 9, 2009 2:15 PM

One interior photo - what are they thinking?

Posted by: infinitejester at April 9, 2009 2:19 PM

Ringo... If it sold for $775 *last year* ... then $950 makes sense?!?!?!?!?!

In any market, a 22% return on investment after ONE year is appropriate for real estate?! So, next year it should be $1.2 million?!

AAAARGH!!!

Posted by: tybur6 at April 9, 2009 2:29 PM

And by the way... even if you threw in $100k for renovations over the last year... I reiterate my AAAAARGGGH!!!

Posted by: tybur6 at April 9, 2009 2:30 PM

Technically we are back to 2005/06 prices (or so), in which case this shouldn't even sell for 775k.

I'd think if they renovated the bathroom and kitchen, there would be pictures...no?

I voted 799K and I'm stickin' to it.

Posted by: 11217 at April 9, 2009 2:32 PM

no, I don't think the 775>950 makes sense.

I think the 775 is neither here nor there. Think it would have been a steal at that price last year, right? I only say it would indicate to me that it's been recently renovated and thus, a 3 bedroom for mid-900s that is DONE makes sense. If it needs work, then price is too high. The cost of renovating -- including finding a place to park the family -- is high.

Posted by: Ringo at April 9, 2009 2:46 PM

Layout is awful -- kitchen between two bedrooms? Bah!

Posted by: BH76 at April 9, 2009 2:58 PM

> "Didn't even occur to me that it could be uh ... interestingly rewritten."

All ya gotta change is one letter.

Posted by: SnarkSlope at April 9, 2009 3:03 PM

I would not buy this unless I got in writing that I could put in a second bath in the room between the kitchen and the bath. I would turn that into a nice bath and use the additional space to enlarge the kitchen. In other words: a big project. Probably better to just find a nice two-bedroom two bath aprtemnt somewhere else.
This is a very old apartment house. I think it was designed before they really knew what they were doing. #-bedrooms, 2-baths is just nuts.

Posted by: sam at April 9, 2009 3:35 PM

oops! I was interrupted. Sorry. My last post was trying to make the point that a 3-bedroom, 1-bath apartment does not make too much sense.

Posted by: sam at April 9, 2009 3:55 PM

co-op prices make no sense to me period. 1 bath is just insane!

Posted by: bkny at April 9, 2009 4:22 PM

it's a big city. some people like houses, some people like co-ops.

Posted by: sam at April 9, 2009 4:42 PM

suspect the light is not great in the back, what do those bedrooms look out onto I wonder, no pics..maybe a brick wall. plus the bathroom & kitchen reno 750 tops

Posted by: binnyG at April 9, 2009 4:46 PM

the back of this building is the southern exposure. Full sun. That's why the garden is so nice.
It is also a lovely and even an elegant building. The layout of the unit just needs re-doing. It probably is not so hard to add a new bath next to the old bath.

Posted by: sam at April 9, 2009 5:13 PM

great building, great location but if u think it's so "easy" to add a bathroom in a co op i think it would have been done already...no pics of other bathroom or kitchen...this plays smells of project.....$779 ??

Posted by: bklyn14 at April 9, 2009 8:11 PM

I'd rather have the space than the second bathroom. And kitchen is large enough for eat-in, nice enormous living room... I actually like the layout so, so, much more than the glut of condos going for around $750K with half the space and two or three bathrooms in less blue-chip locations.

The only thing that makes me blink at the ask is what it sold for last year. That much of a mark-up in this economy is totally nuts. I predict it goes close to 800K and is a great bargain at that. If I had 800K I'd more than happily roll my eyes and sigh that there was no second bathroom, while secretly celebrating my good fortune.

People will look back at the oughts and laugh and wonder why we thought we needed so many places to pee.

Posted by: Heather at April 9, 2009 9:03 PM

Heather, you are on a roll.

Posted by: mopar at April 9, 2009 11:42 PM

Blame Heinekin.

Posted by: Heather at April 10, 2009 1:44 PM