« Inside Third & Bond: Week 86 House of the Day: 859 St. Marks Avenue »

May 28, 2009

Co-op of the Day: 80 Poplar Street, #1R

80-Poplar-Street-Brooklyn-0509.jpg
This two-bedroom at 80 Poplar Street in Brooklyn Heights hit the market in April 2008 with a price tag of $775,000. Like yesterday's Co-op of the Day, however, the owner doesn't seem to be particularly motivated (in real estate parlance) judging from the fact that the asking price has been trimmed by only a paltry $15,000 to $760,000. The backyard space definitely gives this place a little extra sex appeal and the beamed ceiling in the kitchen is also quite charming; the 1,100-square-foot apartment's monthly maintenance, however, is a rather unsexy $1,430. Reactions?
80 Poplar Street, #1R [Douglas Elliman] GMAP P*Shark




Posted by Brownstoner at 12:38 PM | Comments (31)
Categories: Brooklyn Heights, Co-ops

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Comments

shared patio?

Posted by: randolph at May 28, 2009 12:42 PM

Shared outdoor spaces make my skin crawl.

Posted by: Ljubitca at May 28, 2009 12:45 PM

"sex appeal"

::scratches head::

*rob*

Posted by: PitbullNYC at May 28, 2009 12:45 PM

Where to start...

I think there is something wrong with Jeffrey Block's head.

Is there a wall separating the office/bedroom from the stairwell? If yes, then it is not 21' long. If no, then I'm not sure I see it working too well as a bedroom. From pictures, looks like "no".

The real bedroom is rather narrow for a master bedroom.

The printer stand by the stairs and the desk under the stairs is not working for me.

Does it have a view of the BQE?

At what point do maintenance costs in Brooklyn Heights for non-doorman buildings become too absurd?

Posted by: northsloperenter at May 28, 2009 12:49 PM

link doesn't work or has been taken down.

I wonder whether brokers monitor browstoner and take down listings when they know a place they are representing is a dog and going to get slammed?

Also, no widget?

Posted by: the chicken at May 28, 2009 12:50 PM

Shared outdoor space that is outside your window, to boot.

Posted by: northsloperenter at May 28, 2009 12:50 PM

scratch that - back up

Posted by: the chicken at May 28, 2009 12:51 PM

I actually do quite like the look of this place - the opened out stairwell should give quite an open feeling, as would the kitchen/dining area.


Price, as always from me, is still too high, as is the maintenance.

Posted by: the chicken at May 28, 2009 12:55 PM

personally - I like the flow of this place, really enjoy the beamed ceilings and kitchen and the facade
The maintenance is crazzzzy high, but the asking price doesn't seem to be for a 2BR in BK Hts.

Posted by: gemini10 at May 28, 2009 12:57 PM

chicken...do you have a feng shui problem with beamed ceilings???

Maint is ridiculous.

Posted by: daveinbedstuy at May 28, 2009 12:59 PM

Love the look/vibe of this place, but maint is ridiculous and shared patio outside my BR is a dealbreaker.

Posted by: WTbound at May 28, 2009 1:00 PM


Love the beamed ceiling, hate the shared patio. Strange Mr. Brownstoner did not pan the white windows. Perhaps his Mediterranean experience has softened his view on this particular design element? More evidence that travel tends to broaden one's thinking.

Posted by: East New York at May 28, 2009 1:02 PM

One too many baskets for me!

Posted by: bayridgegirl at May 28, 2009 1:05 PM

"All this is hidden away in a carriage type house behind one of the oldest houses in the Heights."

What exactly does this mean???

Posted by: bayridgegirl at May 28, 2009 1:06 PM

ENY....I think the white windows are only a no-no on a brownstone, perfectly appropriate for a clapboard.

Posted by: daveinbedstuy at May 28, 2009 1:09 PM

"chicken...do you have a feng shui problem with beamed ceilings???

Posted by: daveinbedstuy at May 28, 2009 12:59 PM"

Nope - but then again I don't have any feng shui problems with anything really!

Posted by: the chicken at May 28, 2009 1:11 PM


Oh...OK. Thanks, Dave.

Posted by: East New York at May 28, 2009 1:13 PM

BRG - Unit is located in "mews" behind the building that is depicted in photo above. This is hard up against 20 Henry development site. Take a look at patio photo on broker site - this unit resides in bldg to the right in photo. I think you wlak down alley way to left (east) side of front bldg to access the "mews."

Posted by: ITM at May 28, 2009 1:13 PM

compare to other listings in BH, this is not bad and possible be consider good. compared to yesterday's COTD, this is better. On an absolute basis, might as well save a little longer and buy a house

Posted by: more4less at May 28, 2009 1:23 PM

I cannot make heads or tails of this apartment. Do you really have to walk out on the deck to access the laundry? How oddly inconvenient.
I will spare it my most famous line "medieval layout" because its not that bad and the photos are very attractive.
I guess it has to be checked out in person.

Posted by: sam at May 28, 2009 2:13 PM

beautiful place.

Posted by: KHuebbe at May 28, 2009 2:24 PM

Is it just me or does this kind of maintenance make no sense? Its almost a whole other mortgage payment, and must be a huge deterrant to folks who might otherwise be looking in that price range.

Posted by: mksk at May 28, 2009 3:15 PM

Thanks ITM. Wait, this unit is NOT in the house shown in the photo?? Walk down an alley to get home? Is that safe? But then again, it is Brooklyn Heights, everyone is asleep by 9pm.

Posted by: bayridgegirl at May 28, 2009 3:18 PM

"Is it just me or does this kind of maintenance make no sense? Its almost a whole other mortgage payment, and must be a huge deterrant to folks who might otherwise be looking in that price range."

It makes no sense at all and is a massive deterrent.

You know when you take out a mortgage what your monthly payments will be, but how do you know what your maintenance charges will be 5 or 10 years from now?

Over the course of a 30 year mortgage you would pay $514,800 in maintenance assuming it NEVER goes up. But, of course, it will go up.

What if it goes up 2% a year? What do you pay after 30 years... $696,148 ($2,539/mo in year 30).

And if it goes up 4% a year? That will cost $962,417 over 30 years ($4,456/mo in year 30).

So, yeah. Maintenance is a huge deterrent. It is a massive uncontrollable cost.

And did you ever notice how those "monthly expense calculators" never seem to consider the possibility that maintenance will increase?

Posted by: northsloperenter at May 28, 2009 3:41 PM

"Brooklyn Heights, everyone is asleep by 9pm."

Pets are allowed but no card playing or alcohol!

Posted by: sam at May 28, 2009 3:51 PM

Once again, maintenance includes real estate taxes. Coops get killed -- particularly in BH. Subsidize single-family and all those new condos with abatements. RE taxes could be 60% of the maintenance...

Posted by: BH76 at May 28, 2009 4:46 PM

save your breath, to many the term maintenance translates to "taking my money for no reason". They don't have to pay maintenance in a house, of course they have to pay real estate taxes, and water and sewer bills, and insurance, and bills to maintain the boiler and the windows and the garden and to fix leaks, but those costs are not "maintenance" they are legitimate bills you pay for maintaining your property in good shape.
Some people don't get it.

Posted by: sam at May 28, 2009 8:35 PM

At least you have privacy. I too think the maint. is high, but unless I'm wrong, this is essentially an entire carriage house. So the price looks good, and if you can square that with the maint., I guess it's priced ok. Of course, it hasn't sold, so obviously not...

Posted by: Bolder at May 28, 2009 11:05 PM

sam -- money is money. Expensive maintenance destroys the value of the property.

Whether or not this is "fair" is irrelevant.

If the properties in Brooklyn Heights are subjected to higher taxes than new construction then the selling prices should be cheaper to compensate for this. Likewise if they are expensive to heat.

When maintenance is 40% or more of what a comparable rental would cost, why the heck would you buy in that building?

Posted by: northsloperenter at May 28, 2009 11:07 PM

There's a psychological difference and something of a practical difference between maintenance fees for a coop, and maintenance costs for a house. The amount and increases in the former are out of your control. With the latter, one feels, and to some extent is, in more control with some aspects maintenance. The roof is going, but save an urgent situation, you get to decide which year you're going to sink the 40K into it. The yard is not "landscaped," but that's your choice, etc. I understand the bias.

Posted by: Nomi at May 28, 2009 11:13 PM

$1,430 maintenance is dealbreaker.

Posted by: pluvious at May 29, 2009 9:57 AM

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