Co-op of the Day: 328 Clinton Avenue, #3

OMG - that's my old apartment. I bought it in 98 for 85k and sold it in 2001 for 340k (and then bought my house for significantly less).

It is a great space, but previous posters are correct in that it is better used as a one bedroom. Using it as two bedroom would make the living space distressingly dark and cramped. It guess using the "nursery" as such would be a nice compromise, but it would put the infant's room right next to the living space and a spiral staircase away from the master bedroom. The very spacious deck once had a view of the WTC - I watched the smoke for weeks from there. It still faces the side of Queen of All Saints - lovely alpine light. I did stage one of the kitchen reno (ikea cabinets), which seems to have been opened up onto the dining area (good idea), and there was totally enough space for what now seems to be a walk-in closet.

When I sold the financials were shaky, and the building was suffering from the downside of a small co-op. There was one very difficult shareholder who may or may not still be there. They've certainly done a lot of great physical work to the building. When I walk by I still miss it - the location, and perhaps my bachelorhood!

The price? Well you can guess my reaction from the numbers I bought and sold it for. I think a smaller ground floor unit sold in the 600's a few years ago. I guess if I were selling my home (2 unit, twice the size, etc) on my lousy Clinton Hill block I'd be looking for the same number. Kind of hard to believe I could have gotten 700k back on my 10k downpayment from oh so many years ago! But then again that initial price was clearly a pre-boom price.

Posted by: Putnamdenizen at June 2, 2009 1:27 PM

Given that none of the houses on my block are moving and they are priced at 800k and 900k, I think it is a very reasonable statement. Given that I have shared that this very apartment sold for ONE-TENTH the asking price 10 years ago, and sold for 40% seven years ago, doesn't that suggest that realistic prices are much, much more lower. (Sorry Wasder and Amy C. says hi...)

Posted by: Putnamdenizen at June 2, 2009 2:09 PM

I didn't create the apartment - I just bought it. It actually is two-thirds a parlor floor and half the floor above, a reconfiguration of what had previously been two floor-throughs. There is a complementary apartment in the front of the building. It (as a one bedroom) is incredibly gracious and spacious. The spiral stair was a bit of a challenge when I'd arrive twisted from the city at 4 in the morning. But fortunately I frequently had help up the stairs (ah those were days!).

Posted by: Putnamdenizen at June 2, 2009 2:12 PM

You folks are so tangential sometimes - you make me laugh. You are far more comfortable discussing hypothetical rental apartments than the property in front of you. After seeing my old place listed for ten times its purchase price of ten years ago, and even its widget value eight times as much, I feel more sure that prices have a long way to drop. I always explained my good deal by the referring to the impact of race. When I bought many white folks were still not seeing Clinton Hill as an acceptable neighborhood. Too black. But even if we posit that this has changed, should an apartment cost that much more?

Posted by: Putnamdenizen at June 2, 2009 6:14 PM