« Brooklyn Food & Drink Round-Up House of the Day: 526 Carlton Avenue »

September 23, 2009

Co-op of the Day: 8 Sidney Place, #5

This top-floor co-op at 8 Sidney Place has a nice open, light feel to it that you don't usually see in smaller townhouse apartments. That has a lot to do lofty-layout and multiple skylights; the private roof deck is an added bonus. The asking price is $525,000 and the monthly maintenance is $615. Sound reasonable?
8 Sidney Place, #5 [Brown Harris Stevens] GMAP P*Shark

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I have to say...I love it!

The floors look especially beautiful.

Posted by: 11217 at September 23, 2009 12:49 PM

I have to agree... this place look great. All I need is for someone to give me, say, $250,000 and I'll go ahead and pay the asking price!

Posted by: tybur6 at September 23, 2009 12:56 PM

I love these narrow streets in Brooklyn Heights. I have a hard time with the idea of a half million bucks for one bedroom, but if you're going to get that much anywhere in Brooklyn, this might be the place.

Posted by: Sparafucile at September 23, 2009 12:56 PM

I can't believe 11217 and I actually agree on something. Sidney Place is one of my favorite blocks, and this apartment looks like it was done very nicely. If I was looking for a 1 bedroom, this could be it.

Posted by: CarrollGardened at September 23, 2009 1:00 PM

IF it had a real bedroom it would be a steal. I used to live on this block and it is drop dead gorgeous and super mellow. Nice deck too. Price sounds pretty good all things considered.

Posted by: wasder at September 23, 2009 1:00 PM

spara, I know what you mean. This might indeed be the place. Top floor is a great place to live too. Oh, and the place looks like exactly how I imagine myself living.

Posted by: infinitejester at September 23, 2009 1:00 PM

I know I might sound like a broken record, but this is yet again another delusional listing. The apartment one floor down that's the same size and with a small terrace sold last September for $499,000. And it went into contract BEFORE the Lehman collapse. Why would I pay MORE to walk an extra flight up to an apartment that's likely to be extremely hot in summer and cold in winter thanks to the skylights? And the listing isn't clear how you access your private roof terrace. I'm guessing it's by ladder considering the size of the building. So that severely reduces the usefulness (no doggy on the deck).

And again, my upstairs neighbors rent an apartment that's very similar although slightly larger than this one, but without a so called roof deck (although there is a ladder to the unfinished roof), and they pay $2,000 per month. And this is on a good block in Boerum Hill. Why again would I want to spend $3,100 a month on this place?

Posted by: kvnbklyn at September 23, 2009 1:01 PM

wasder, it looks from the floorplan like it would be pretty easy to put up a wall and turn the "bedroom area" into a real 1 bedroom.

Posted by: CarrollGardened at September 23, 2009 1:02 PM

Maint seems pretty reasonable for a BH co-op too.

Posted by: dirty_hipster at September 23, 2009 1:10 PM

I don't see a ladder in the pictures... so I bet you access the roof from the hallway stairs, which would be good... no?

Posted by: tybur6 at September 23, 2009 1:10 PM

Nitpicking, but based on where the foyer tile ends in the bedroom, I'm not sure you could put a door to the room and still fit a bed. Of course it's hard to tell because the pictures are all skewed to make everything look as spacious as possible. Also, the bathroom only being accessible through the bedroom is annoying, as is the lack of closet space.

Posted by: setancre at September 23, 2009 1:11 PM

The "bedroom" pictures look deceiving. The kitchen tiles go almost all the way to the foot of the bed, and the dresser is pretty much in the kitchen. Can't tell what is to the left of the bed.

They might get close to ask given the location, but it still seems crazy to me. Great block, though.

Posted by: Brokedeveloper at September 23, 2009 1:13 PM

I think it looks really nice and has great amenities -- very quaint street, good location, roof terrace, skylights, etc. However, if you add up the dimensions on the floorplan, it's pretty small -- under 700 sq. ft. -- unless my math is wrong -- and it is lacking an actual bedroom. You can build the walls, but that's at least another $10K, so all said, I think it worth about $450,000 max.

Posted by: Bsquared at September 23, 2009 1:18 PM

I'd probably call this a Junior 1 bedroom, but that gorgeous roofdeck and location MORE than make up for the small-ish bedroom in my mind.

If I were looking (and could afford this) I'd be all over it!

I believe a lot of people price their homes these days, knowing that they will settle about 10-15% lower than their asking price. I'll guess 485K.

Posted by: 11217 at September 23, 2009 1:19 PM

nice pad and location. price still a stretch but not by much as it looks very competitive to listing out on mkt now.

Posted by: more4less at September 23, 2009 1:21 PM

My God, I agree with 11217 twice in one day! Also, my contractor would do the bedroom wall for $1,000 tops - it doesn't require much more than some framing, sheetrock, a door, and paint.

Posted by: CarrollGardened at September 23, 2009 1:23 PM

I really like this place - it's soooo bright and cheery and in a gorgeous building on a gorgeous street plus you get the roof deck - huge plus!
I bet it goes close to ask!

Posted by: gemini10 at September 23, 2009 1:27 PM

@tybur6:

You don't see a ladder because the agent doesn't want you to realize that the roof is accessed via ladder. This building looks exactly the same as the building I live in, except it's one story taller. My building has a ladder going to the roof as do all the other buildings on my block of the same age. And, a quick look at google satellite view shows no roof bulkhead, which you would see if there were a full stair going to the roof.

Obviously, we can't be sure without going there (or asking the broker), but my money's on ladder and no stair.

Posted by: kvnbklyn at September 23, 2009 1:35 PM

Rethinking, I don't see it being worth even $450,000. It's definitely nice and the location is great, but truthfully, it's a small junior one-bedroom, with benefits. How long can anyone realistically stay in such a small space? You'd end up outgrowing it quickly and having to sell it for even more. You could get stuck, nice as it is. Plus, if you cannot build a decent size bedroom because of inherent space constraints, it wouldn't even be a one-bedroom but just a large studio. The lack of closets and bathroom access through the bedroom is a TOTAL drawback. So as nice as it is, it's not a very functional apartment long term. I don't think it's real value is more than $400,000.

Posted by: Bsquared at September 23, 2009 1:35 PM

"How long can anyone realistically stay in such a small space?"

I could live in a place like this until my legs could no longer climb the stairs.

Not everyone needs large spaces...I much prefer living in a small, compact, well-used space.

Posted by: 11217 at September 23, 2009 1:39 PM

Where is the front door to the apartment? It looks like you might have to enter through the bedroom.

Posted by: AshlandGreene at September 23, 2009 1:42 PM

The phrase "open loft-like one bedroom" translates to glorified studio.

What is this, 450-500sf? Price is absurd.

Posted by: DitmasSnark at September 23, 2009 1:56 PM

CarrollGardened - with all due respect, no way could you build walls for $1,000. The co-op board would have to approve the work which means you have to hire a licensed contractor and that means while materials are inexpensive, labor is not. I've had it done. And it's hard to tell from the floorplan if it's just one simple wall and a door that is needed. It could be more.

Posted by: Bsquared at September 23, 2009 1:59 PM

"I could live in a place like this until my legs could no longer climb the stairs."

Me too. Out to eat, drink, see friends, movies, the park, then back home to rest.

The roof deck adds a huge amount of psychological space too. It's not the number of rooms but the number of places to be in your space that makes all the difference.

Caveat: I am not into feng shui!

Posted by: infinitejester at September 23, 2009 2:01 PM

...if you are single forever, or without kids forever. But if your situation changes, it gets more difficult to live in an open space that's only 600 sq. ft, +.

Posted by: Bsquared at September 23, 2009 2:05 PM

13 by 19 = 247 sf
11 by 12.5 = 137.5 sf
12 by 12.5 = 150 sf

Total is 534.5 sf not including the bathroom, closet, etc. (I believe most co-ops are also able to include a portion of the common areas and hallways towards square foot totals, but we won't include that for this since I've always found that odd).

You also have a fairly sizable looking roofdeck.

Posted by: 11217 at September 23, 2009 2:05 PM

Bsquared, I happen to have a great licensed contractor, who does great work, with whom I've worked for years, and I doubt he'd even charge me $1,000, whether the bedroom needs 1 or 2 walls to close off that corner.

Posted by: CarrollGardened at September 23, 2009 2:09 PM

Bsquared:

75% of New Yorker's don't have children and 50% are single. So lots do stay single and lots don't have children. To plan for something which may or may not be in the future really has no impact...a wedding or having a child is something planned usually years in advance...plenty of time to upgrade to a bigger apartment if need be.

I don't understand your point really...so you think everyone needs what 1000 sf to be happy *in case* they get married or have a child...?

I'm not following. This is a gorgeous apartment for a single person, of which NYC is primarily made up of...I could even imagine a very loving couple living here.

It's funny to me how when people get married and have kids they don't seem to realize that not everyone else on the planet wants the same thing.

Posted by: 11217 at September 23, 2009 2:18 PM

adorable apartment for a young start-up or middle-aged divorcee. The roof deck makes it. And Sidney Place is lovely. I can't do the stairs because I already have a little arthritis and its the kind of thing that could get much worse with age. I'm strictly an elevator-building type but I can appreciate a space like this.

Posted by: Minard Lafever at September 23, 2009 2:18 PM

CarrollGardened -- you are lucky. I would love to have your contractors name, seriously. Is it possible to send it to me via this site because I haven't had that kind of price offered to me for anything.

Posted by: Bsquared at September 23, 2009 2:19 PM

is it me or this is the worst floor plan I have ever seen? If you have guests sleeping over in the living room, they'll have to go through the bedroom to get to the bathroom. With some wall breaking and reconfiguring and putting up new walls, this can be made into a great apartment. I would even make a small office in the corner with a window.

Posted by: Kensingtonian at September 23, 2009 2:20 PM

> Total is 534.5 sf not including the bathroom, closet, etc.

I guess after moving to a large 1br apartment, this place just looks small to me. The skylights and roof deck are very attractive. The fifth floor walk up not so much. I think the lack of a tub and closet shortage will limit the pool of buyers.

Posted by: DitmasSnark at September 23, 2009 2:25 PM

CarrollGardened -- Could you share your contractor's name if you are willing? I have a friend who wants to do a bathroom and kitchen reno.

Posted by: DitmasSnark at September 23, 2009 2:27 PM

Snark, my contractor is/was very reasonable and your friend is welcome to come over to look at his work anytime. Limited English but very good guy and works himself instead of hiring people off the street.

Oleg 347-583-0523

Posted by: Kensingtonian at September 23, 2009 2:34 PM

Thanks Kens, I'll pass that along. He was going to use a guy who has done work for a couple of our other friends, but the dude flaked.

Posted by: DitmasSnark at September 23, 2009 2:42 PM

Interesting. With generous square footage calculation, this comes to about $750/foot, low for Brooklyn Heights, especially for a place with a private roof deck.

The asking price reflects the shortcomings everyone's mentioned.

I have a soft spot for Sydney Place because my mom lived there in her "youth." A large studio for $80/month. She was single . . . early 1960s.

Posted by: Nomi at September 23, 2009 3:00 PM

Nomi,

We just calculated the square feet to be around 535 or so. A little more with the bathroom.

That's close to $1,000 psf.

Posted by: 11217 at September 23, 2009 3:11 PM

Bsquared, Snark - I'd be happy to pass my contractor's name and contact info. along, but I'd rather not post it. Let me know if you have gmail or similar addresses I can send to.

Snark, haven't seen you since Sycamore. Any way to talk you into coming to Union Hall on 10/15?

Posted by: CarrollGardened at September 23, 2009 3:11 PM

Isn't this block kind of iffy?:

"I don't like this location, I don't think it's safe. that's all. I don't see why I should spend my hard-earned money to live somewhere where I can expect to be mugged and robbed. No thank you." Posted by: Minard Lafever at September 21, 2009 7:19 PM in response to House of the Day: 135 Lafayette Avenue

Hahahahahahah! ;-) (but all kidding aside...aren't there muggings in Dumbo and Brooklyn Heights???)

Anyway, yes, it would be a LOT of /TOO MANY stairs (for some of us)! Cute place though. Would be a great pied-a-terre kind of place...Oh, well.

Posted by: BrooklynGreene at September 23, 2009 3:12 PM

Oh, I forgot to include the new tagline:

***Someday bid half off peak taglines!***

Posted by: BrooklynGreene at September 23, 2009 3:13 PM

it's mind boggling that someone would spend 1/2 a million dollars to live that way.

*rob*

Posted by: Butterfly at September 23, 2009 3:15 PM

Robert,
It's prime Brooklyn Heights and has a spacious roof deck.
By the way Everyone, it looks to me as though there may be spiral staircase to the roof from the hallway...you can have spriral staircase with a hatch at the top to the roof. Note the railing around the hatch opening (edges of the photo of the deck)...those tell me there may be a spiral spiral staircase...who knows...

The only skyline view they show is a watertower...the ad implies expansive views of Manhattan. You'd think they'd picture them in the photos since this is the where the money is.

***Someday bid half off peak taglines!***

Posted by: BrooklynGreene at September 23, 2009 3:22 PM

Let's see if this logic stands up...help me here, Guys...

Apartment below this one sold for $499,000 during the boom. Therefore, this apartment at "half off peak comps" should be about $250,000. Does this make sense?

I assume the monthly maintenance includes all heating, hot water, taxes, etc. Is this correct?

Posted by: BrooklynGreene at September 23, 2009 3:29 PM

"Nomi,

We just calculated the square feet to be around 535 or so. A little more with the bathroom.

That's close to $1,000 psf." (11217)

Yeah, I did figure the feet more generously, at around 700, trying to get in between actual and realtor figures. Maybe that's a silly way to do it. Still, you do have to count bathroom and closet, so, say, 635 feet. That'd be about $825 psf. Not as low as I'd figured, but still on low side for roof deck in BH, no?

Posted by: Nomi at September 23, 2009 3:44 PM

I guess that is still low, but honestly I'm not super familiar with the BH market in terms of prices.

Either way, I think the place looks grand (as in great, not large).

Posted by: 11217 at September 23, 2009 3:48 PM

CarrollGardened - you can hit me up at ditmassnark at yahoo dot com. Thanks! I haven't decided about 10/15 yet.

Posted by: DitmasSnark at September 23, 2009 3:49 PM

Wow, DitmasSnark, you're such a snark that it's in your e-mail address. Impressive. I'm guessing that's your snark-dedicated address, but still.

@11217, Yes. I think the blanket criticism of studios, and one bedrooms like this are silly. They can certainly work long term for some people, and, as you point out, many people in NYC.

Posted by: Nomi at September 23, 2009 4:01 PM

A few points: The price seems high but at this point I think sellers are resigned to getting offers 10-20 pct. off ask.
The layout is fine for a singleton or couple but the 5th floor walkup: Not good for anyone except hermits.

A long time ago my wife and I decided that anything over the 3rd floor is a no-go zone.

Posted by: Bolder at September 23, 2009 4:10 PM

If we didn't have 5th floor walk ups, we'd have no stories that start "In my day, I lived in a 5th floor walk up. Both ways"!

But, yeah, it's a little different when you're buying.

Posted by: Nomi at September 23, 2009 4:22 PM

i still firmly believe it's ridiculous, no matter where it's located, to pay 1/2 a million dollars to live in a glorified attic.

*rob*

Posted by: Butterfly at September 23, 2009 4:42 PM

Generously sized studio with great light. Price seems to be all about location and roof deck.

Posted by: LilBitOfLuck at September 23, 2009 4:49 PM

Oh, great great things have happened in glorified attic, Rob. I wouldn't knock them.

Posted by: Nomi at September 23, 2009 4:49 PM

The stairs might be good exercise though...

...meanwhile I nearly pass out getting up to our fourth floor, so who's talking?

Posted by: BrooklynGreene at September 23, 2009 4:54 PM

Anyway, this is not a freakin attic! It's a penthouse. I too live on the penthouse floor of a brownstone . ..

Posted by: Nomi at September 23, 2009 4:55 PM

Where would Klute be without a "glorified attic"?

***Someday bid half off peak taglines!***

Posted by: BrooklynGreene at September 23, 2009 4:56 PM

I live in a fourth floor walkup, in summer it can be tough but honestly it keeps you in shape and you get used to it. Plus you only do it twice a day a lot of the time...50 steps times 4, that's not that brutal.

Posted by: infinitejester at September 23, 2009 5:26 PM

There is no bedroom. There is one closet in the living room and a linen closet in the bath. It is a gorgeous block. And a roof deck that you have to climb a ladder to reach -- no thanks. This is crazy talk.

Posted by: BH76 at September 23, 2009 5:37 PM

QUOTE: "Oh, great great things have happened in glorified attic, Rob. I wouldn't knock them."

Bob Marley version:
We'll be together with a roof right over our heads;
We'll share the shelter of my single bed;
We'll share the same room, for Jah provide the bread.

Posted by: Sparafucile at September 23, 2009 5:40 PM

« Brooklyn Food & Drink Round-Up House of the Day: 526 Carlton Avenue »

September 23, 2009

Co-op of the Day: 8 Sidney Place, #5

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