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May 13, 2009

Co-op of the Day: 1 Plaza Street West 2 BR

We're liking the look of this two-bedroom co-op at 1 Plaza Street West in Park Slope. We wish the monthly maintenance of $1,170 were a tad lower, but given the light, prewar details and generous floorplan, we think this is looking pretty darn reasonable at the asking price of $695,000. You gotta problem wid dat?
1 Plaza Street West 2 BR [Corcoran] GMAP P*Shark

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Comments

Isn't this building in a spot where it's practically suicide to cross the plaza to get to the subway entrance?

Posted by: dirty_hipster at May 13, 2009 12:45 PM

No the 2/3 is right around the corner from the entrance.

Posted by: SJ at May 13, 2009 12:48 PM

Very nice. Lots of windows, good closet space. I'd like to see the kitchen and bath though.

Posted by: InsertSnappyNameHere at May 13, 2009 12:55 PM

I looked at a 2BR on the 8th floor (I think) back in 2003 or 2004). Very nice layout if I recall. I'd highly recommend the apartments in this building if it's the location you like.

We passed because (in addition to wanting to be closer to downtown) the maintenance was a little high and also there was a surprising amount of noise from Flatbush Avenue.

Posted by: Boerumresident at May 13, 2009 12:58 PM

Not bad, but flatbush is definitely noisy and dangerous around here, although you can enter the subway from either side.

Looks like is 800 or so sq. feet. I really want to move the wall in the living room/entry way down to be flush with the bedroom wall and get it over 1000 sq. ft...

Also, with high maintenance comes lower selling price...

Posted by: northsloperenter at May 13, 2009 1:04 PM

Nice. Like the layout and feels airy, high ceilings. Not sure I'd call a 16'5'x13'4" living/dining room "oversized," though. And kitchen and bath probably older. Maintenance seems high to me, but isn't it about the $1/ft price I'm supposed to expect especially w/doorman? (Don't really understand that $1/ft figure since there seem to be so many complicated factors going into maintenance fees causing a huge range.)

Posted by: Nomi at May 13, 2009 1:08 PM

two problems: one bathroom, high maintenance.
better deals for two bedroom one bath in the Heights.

Posted by: mcKenzie at May 13, 2009 1:09 PM

Nice building but certainly not my favorite part of the slope. You can get equally-sized 2 BR's in Park Slope with much lower maintenance, closer to restaurants/stores/bars, for this price or less right now. They may not be in a gigantic pre-war building but ... I continue to question why people want to be in gigantic buildings in the first place.

Posted by: cwbuecheler at May 13, 2009 1:10 PM

unbeatable location, great layout, looks like good light. Would like to see the kitchen/bath picks, but this (for once) seems to be fairly priced. I bet they get close to ask, assuming the kitchen/bath aren't total disaster areas.

Posted by: clintonhillbuyer at May 13, 2009 1:11 PM

Oh, I thought it was about 1000 sq ft. It it is only 800 or so, then maintenance definitely high, and "sprawling" is too much of an overstatement.

Posted by: Nomi at May 13, 2009 1:12 PM

Only 1 bathroom, and not exactly what I'd call "sprawling".

Posted by: CarrollGardner at May 13, 2009 1:15 PM

"I continue to question why people want to be in gigantic buildings in the first place."

Elevators and more traditional floor plans.

Posted by: northsloperenter at May 13, 2009 1:17 PM

No, if my guesses on the unmarked space is correct, the square footage is about 950.

Posted by: Nomi at May 13, 2009 1:17 PM

Like the style. Layout not ideal, however. Smallish living room and massive main bedroom. Don't think it needs a big price cut to sell - I guessed $650k.

Posted by: etson at May 13, 2009 1:21 PM

Floorplan misleads perhaps; doesn't seem like much but the photos hint it has charm. For a couple who goes out but likes creature comforts - can't miss.

Posted by: infinitejester at May 13, 2009 1:31 PM

I guessed $675, but maybe they'll get their asking price, depending on the state of the kitchen/bath. I love the apts. in this building.

Posted by: RinTinTin at May 13, 2009 1:32 PM

I'm confused by the pictures and the floorplan. If I'm understanding it, the kid's room is the corner bedroom, and the long bedroom is the master bedroom, as currently configured. If that's right, the ceiling beams in the long bedroom run perpendicular to the ceiling beams in the living room. Is that right? Isn't that strange? Seems odd, and I've never seen it before, but then again for all I know it's just decorative plasterwork or something. I also don't see the small closet shown in the floorplan in the long bedroom. I don't really have a point, and sort of like the apartment (although I'm having trouble figuring out how to make the living room livable, i.e. where I'd put a TV), I'm just questioning my ability to read a floorplan at this point.

Posted by: toadie at May 13, 2009 1:39 PM

Ha! I was thinking the same thing about a tv, but I'd never say such a crude thing . ..

Yeah, where is that closet?

Posted by: Nomi at May 13, 2009 1:43 PM

Oh, and, yes, beams decorative, I believe. More knowledgeable person can confirm this, but don't think they were part of the era/style construction.

Posted by: Nomi at May 13, 2009 1:45 PM

Thanks, Nomi. Yeah, I was a bit reluctant to admit to thinking of TV placement. Which is why I'd like to clarify that I would only use my television to watch Masterpiece Theatre and the occasional regatta, don't you know. Nothing louche here. Class up the wazoo, as my mother likes to (classily) say.

Posted by: toadie at May 13, 2009 2:01 PM

Right. Well, whenever someone doesn't know what I'm a talking about, regardless of subject, I tell them they are clearly not watching enough TV.

Posted by: Nomi at May 13, 2009 2:03 PM

Beautiful building, nice apartment. The maintenance is in line with other full-service buildings in the area. Unfortunately, it isn't in a great school zone, but this place would be perfect for a couple without kids, as it is close to 2 great subway lines (the 2/3 and the Q), the park, etc. I think they'll get close to ask.

Posted by: Lesloaf at May 13, 2009 3:37 PM

We used to live an apt. with a big main bedroom like this, and we really got used to having plenty of space to have an extra bench for dressing etc.

I'd be curious to see what the actual sf is. I'd say around 1,000, but the appraiser would have the final word.

I like this place a lot, but are there any buyers at all out there? I'm guessing this is priced at 20% below 2007.

Posted by: Bolder at May 13, 2009 5:46 PM

Sprawling?

Posted by: Nokilissa at May 13, 2009 7:21 PM

>"this place would be perfect for a couple without kids"

I agree. Then second bedroom can be "non-public" common space. For me, if I buy, I want that -- a room that is not a bedroom where I can close the door. But I have no kids. With even one child, that becomes very expensive.

Posted by: Nomi at May 13, 2009 7:59 PM

1 Bathroom, no washer & Dryer, no Closets, no way.

Posted by: Ali Baba at May 13, 2009 9:00 PM

Monthly out of pocket costs assuming a 5.5%, 30 year fixed: $4,300

Down Payment (10%): $140,000

Posted by: salvo007 at May 13, 2009 9:36 PM