« Brooklyn Food & Drink Round-Up House of the Day: 240 Dean Street »

June 3, 2009

Co-op of the Day: 41 Eastern Parkway, #5C

We think this two-bedroom co-op at 41 Eastern Parkway is gorgeous and we suspect others will feel the same. The prewar details are in pristine shape and the modern kitchen appears tastefully done. The only complaint is that the second bedroom looks sightly awkwardly carved out of what looks like should be a very large one-bedroom; because of where the kitchen is now located, though, it would be difficult to convert. The monthly maintenance of $961 is a little on the high side given the size of 875 square feet. How about that asking price of $629,000?
41 Eastern Parkway, #5C [Aguayo & Huebener] GMAP P*Shark

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Yawn.

Posted by: mopar at June 3, 2009 12:42 PM

See also, http://www.ahbrooklyn.com/property.php?id=592&type=coop&displaytype=coop

Posted by: bheights at June 3, 2009 12:51 PM

looks nice. Not sure about 629 for that location but I dont think it's unreasonable to see mid 5's on this given the renovation.

Posted by: 10thStreetReno at June 3, 2009 12:57 PM

where is customary moldings on ceiling, war, etc. that one expects from a nice pre-war unit? no view, high maint offset by good condition, good location,...

I say 525k

Posted by: more4less at June 3, 2009 1:05 PM

what leads you to believe the second bedroom was carved out of a large one bedroom? looks like a legitimate 2 bedroom to me.

Posted by: TD at June 3, 2009 1:08 PM

It's very nice but not large... few closets, no view...

Posted by: BH76 at June 3, 2009 1:09 PM

TD, think this is a legit 2-bdrm. if I recall correctly, the bdrms are on opposite sides of the unit with the kitchen and L/R in the middle.

Posted by: more4less at June 3, 2009 1:13 PM

TD -- it looks like the kitchen appliances may have once been on the other side of that wall, making the left bedroom the kitchen and creating a nice dining space where the kitchen is now.

And that picture of the kitchen reminds me of the Shining.

That said, I've seen many worse looking layouts for two bedrooms.

Why no picture of the other bedroom?

Posted by: northsloperenter at June 3, 2009 1:22 PM

It is on 5th floor - So why we saying no view? Even if in back of building - wouldn't it be taller than buildings on Lincoln? And 1 block from Meier bldg where selling at $1000k sq ft - so seems like pretty pricey and desireable location to me.
Also - what do we expect price per sq ft for maint. on coop in elevator doorman bldg to be? (if we claim this is high- do we have comparibles?)

Posted by: Petebklyn at June 3, 2009 1:27 PM

its pretty to be sure, but saying "prewar details are in pristine shape" made me expect to see a lot more, well, details. high price and maint for this size and area. although having sepia bar as your Regal Beagle is a plus.

Posted by: goldie at June 3, 2009 1:29 PM

PeteBK,

those pic's on listing show view is another set of windows nearby (ie another bldg or neigbhors). I said maintenance is high on it's own merits and not compared to other ppties. To me, $961 is alot of $$$

Posted by: more4less at June 3, 2009 1:36 PM

Ah -- if it's on the top floor, that explains the price and maintenance premium.

Posted by: mopar at June 3, 2009 1:39 PM

I'm sorry, but I refuse to buy ANY apartment that is labeled "sundrenched". That phrase/word should be banned from all real estate ads, together with "sun soaked".

Posted by: 8thandprez at June 3, 2009 2:04 PM

Would do well to get $500K. I'm guessing $475K.

Posted by: FatLenny at June 3, 2009 2:29 PM

Is "pre-war detail" code for "unrenovated bathroom?"

Posted by: SnarkSlope at June 3, 2009 3:02 PM

This handsome building once had an entrance worthy of yesterday's Montrose Morris article about doors -- until the revolving ones in the center arch were knocked out and replaced by a tacky swing door.

As 41 Eastern Parkway gets more expensive (it's a credible alternative to "On Prospect Park" down the block), the owners should bring back facsimiles of originals.

For a co-op that hypes its "pre-war" status, the board should know it's all about details.

Posted by: NOP at June 3, 2009 3:31 PM

I've got to say that the "average reader appraisal" is a joke. It's not what YOU want to pay, it's what you think the property is worth based upon the myriad factors.

Posted by: Fjorder at June 3, 2009 4:06 PM

$629,000 for 875sq feet, that's $744/sq feet + $961 monly maintenance.
Are you freaking kidding me?
If i have to pay that price, i buy in Manhattan.
That's a total rip off! Stick it up your a$$!

Posted by: stringer at June 3, 2009 4:40 PM

so go buy in Manhattan. But some people would prefer this location than to Washington Hts or further uptown.

Posted by: Petebklyn at June 3, 2009 4:48 PM

Ridiculous statement Peter! You can find plenty of properties in Greenwich village/Chelsea for that price:
http://www.streeteasy.com/nyc/sale/398610-coop-12-east-14th-street-greenwich-village-new-york
http://www.streeteasy.com/nyc/sale/377904-coop-210-west-21st-street-chelsea-new-york
http://www.streeteasy.com/nyc/sale/377039-coop-142-east-16th-st-gramercy-park-new-york
And these places above have not sold. I'm sure you offer 10/15% less to any of them and it's yours.

Posted by: stringer at June 3, 2009 4:55 PM

*"http://www.streeteasy.com/nyc/sale/398610-coop-12-east-14th-street-greenwich-village-new-york"

Um, that place is $899k with $1700 a month maintenance. How is that comparable to 629K with 961 maintenance?

___

*http://www.streeteasy.com/nyc/sale/377904-coop-210-west-21st-street-chelsea-new-york

$1100 maintenance and been on the market since 2005

___

http://www.streeteasy.com/nyc/sale/377039-coop-142-east-16th-st-gramercy-park-new-york

1300 maintenance and been on the market since 2007.

THESE are your comparisons??? The maintenances on all are outrageous and they've been for sale for YEARS!! You don't think there might be something wrong with them?

Posted by: 11217 at June 3, 2009 5:04 PM

http://www.streeteasy.com/nyc/sale/377904-coop-210-west-21st-street-chelsea-new-york
$1100 maintenance and been on the market since 2005

----
That was a quick search made in 1 minute... Be picky if you want, but if that's your argument to defend the East.Pwy apt, you have to do better than that.
Oh! And if this apt on W21st has been on the market for so long, i would place an even lower offer that 10/15% off...

Brooklyn RE is toast! You're just too freaking blind to admit it!

Posted by: stringer at June 3, 2009 5:13 PM

Why do you care if Brooklyn RE is toast exactly?

I think you're just pissed off that you just listed absolutely ABSURD examples of comps (one almost 300K more than the apartment being discussed, one on the market for over 4 YEARS and another on the market for over 2 YEARS).

Those aren't comps. They are called trash.

Posted by: 11217 at June 3, 2009 5:22 PM

Didn't this building used to be a hotel?

Posted by: Polemicist at June 3, 2009 5:35 PM

Polemicist:

No, although it may have provided house-keeping services when it first opened, as upper-middle-class apartments of its generation sometimes did.

"Copley Plaza," the building's name, no doubt recalled the hotel of the same name in Boston. In keeping with Eastern Parkway's assimilationist function among upwardly-striving Jewish Brooklynites before World War II, names like it helped anglicize first- and second-generation American professionals, politicians, and garment factory owners, called "alrighntniks" by their lower-class cousins in places like Brownsville and East New York.

The building's a beauty and deserves a head-to-toe restoration -- including bringing back those revolving doors and redecorating the lobby, which is very impressive.

"On Prospect Park" (which in just world would be One Eastern Parkway), may just be the key to bringing back this stretch of the parkway. Note Number 25 next door. This lovely little Georgian-Revival number has languished for decades behind metal-plated doors. Fixed up, it would "bridge" Grand Army Plaza's buildings with the Copley Plaza and others beyond, helping to restore Eastern Parkway as one of the city's top addresses.

Nostalgic on Park Avenue

Posted by: NOP at June 3, 2009 5:59 PM

Hey 11217, here's an apt more similar in price + maintenance and it's in a townhouse UWS:
http://www.streeteasy.com/nyc/sale/383845-coop-311-west-85th-street-upper-west-side-new-york
I do not care much that Brooklyn RE is toast. I'm just laughing out loud at these most ridiculous asking prices i see on Brownstoner.

Posted by: stringer at June 3, 2009 6:17 PM

Stringer, theres a bunch of delusional idiots on this board. Some still talk of "investments" in RE. LOL. This blog will not exist in 2 years a la pets.com

Posted by: cornerbodega at June 3, 2009 7:41 PM

your upper west side is walkup nondoorman bldg with 1 small window in living room facing back and 2nd bdroom 7'wide.
Gramercy park calls it 2 bedroom - but it is 1 bedroom with living room cut in half- leaving you with small windowless living room.
Show me classic prewar doorman elevator bldg with real rooms.

Posted by: Petebklyn at June 3, 2009 7:41 PM

Looks sort of dull to me. IMHO.

Posted by: RinTinTin at June 3, 2009 8:44 PM

Here you go, 1/2 a block from Central park:
http://www.streeteasy.com/nyc/sale/410554-coop-55-west-95th-street-upper-west-side-new-york
and don't tell me this is to high on the Upper West side 'cause this East. PWY apt ain't Park Slope.

Posted by: stringer at June 3, 2009 10:04 PM

NOP -- "Alrightniks" -- never heard that before. Funny.

Posted by: Nomi at June 3, 2009 11:59 PM

95th is pretty good comp. Close in price and common charge.
Even tho they list sq footage as similar the bedrooms on E.P. are bigger ( 4' longer on both). Living rm and kitchen look larger also. But all in pretty good comp.
I guess we'll see which sells quicker and at what price.

Posted by: Petebklyn at June 4, 2009 12:19 PM

« Brooklyn Food & Drink Round-Up House of the Day: 240 Dean Street »

June 3, 2009

Co-op of the Day: 41 Eastern Parkway, #5C

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