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October 5, 2009

Co-op of the Day: 66 Orange Street, #3C

66-Orange-Street-Brooklyn-1009.jpg
You don't see a lot of real three-bedrooms in Brooklyn Heights for under a million bucks, so this place at 66 Orange Street asking $879,000 might appeal to a certain segment of the market. The 1,124-square-foot co-op is attractive if a little plain (there's not a lot of prewar detail despite its being in a prewar building); the maintenance of $1,347 is a tad high but not too out of whack. Think this will strike a sweet spot in the market?
66 Orange Street, #3C [Douglas Elliman] GMAP P*Shark





Posted by Brownstoner at 12:39 PM | Comments (35)
Categories: Brooklyn Heights, Co-ops

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Actually pretty good use of 1140 sq/ft. The one bathroom (plus half) is going to turn off a large chunk of the potential buyers here, as will the lack of a washer/dryer in the unit. $5300 a month to live here seems like too much. You can even rent one of the undersized and overpriced places in the Standish for that.
That said, I bet they could sell it for $750,000 in a jiffy, $800,000 is they are willing to right for just the right buyer.

Posted by: Brokedeveloper at October 5, 2009 12:50 PM

I think I remember looking at an apartment to buy in this building when I was looking. It's a great building on a great block.

The apartment I saw had a lot more detail though...this one I don't much care for, but it's nice enough I guess.

No clue about price.

Posted by: 11217 at October 5, 2009 12:56 PM

I don't think you are likely to find another real three-bedroom apartment in Brooklyn Heights, in an elevator building, for a lower price. The maintenance is a tad high given that there is no doorman, but Brooklyn Heights is expensive. I would add a shower somehow to the half bath and would install a washer drier in the kithen if the co-op allows it. All in all a fine unit if you feel comfortable with the carrying cost. As I have often written, if the maintenance were lower, the asking price would be higher.

Posted by: Minard Lafever at October 5, 2009 1:06 PM

dishwasher - yes
washer dryer - no
Can't remember the last time I wasted time laundering my clothes myself..

Posted by: dittoburg at October 5, 2009 1:14 PM

The person who buys a place like this is an older couple who don't want stairs anymore, whose children are grown and adults and live separately, and who want a smaller place that is still nice, and therefore sell their brownstone or house and move here.

Posted by: infinitejester at October 5, 2009 1:15 PM

The powder room literally next to the bath is odd. If possible, better to put the washer/dryer there as there is no place in the "kitchen."

Posted by: BH76 at October 5, 2009 1:22 PM

quote:
Can't remember the last time I wasted time laundering my clothes myself..


well arent you the high-pollutant one! and someone explain to me why a 3 bedroom needs MORE than two toilets?

*rob*

Posted by: Butterfly at October 5, 2009 1:29 PM

Rob, I also don't cut my own hair, service my car or dry- clean my shirts. I pay others to do all those things. I'm a believer in division of labor and supporting the local economy.

Posted by: dittoburg at October 5, 2009 1:34 PM

i cut my own hair, but it's simple to just use a clipper. i would think it would be a waste to go to a barber for that. let me guess, you dont go to a barber, you go to a stylist lol. when i lived in harlem i used to drop my laundry off tho cuz the ladies in the building had a stranglehold of the laundryroom. i.e., THEY did YOUR clothes for $$$ hahahah they had quite the little racket going on down there, so no one in the building could use the machines. they were there all day and night making money doing other peoples' clothes.. good for them i guess. and regular laundromats were just too crowded so i dropped it off. i must say i must have been living pretty skank because i lived there 9 months and probably only dropped laundry off 3-4 times. :-/ (i used to just buy socks and underwear at the discount store then throw them out when they were dirty).

gah, sorry this isnt OT.

nice apt tho, but not a big fan of streets named after fruit.

*rob*

Posted by: Butterfly at October 5, 2009 1:40 PM

"well arent you the high-pollutant one! "


Oh Rob, thanks for the big LOL i needed it.

(the term is high falutin.)

Posted by: bowl of dicks at October 5, 2009 1:42 PM

I go to some Ukranian chaps who charge me $7. I tip 'em 5.

Posted by: dittoburg at October 5, 2009 1:43 PM

oh i KNOW what the real term is. i meant high-pollutant. i swear!

*rob*

Posted by: Butterfly at October 5, 2009 1:47 PM

Last time an Eastern European cut my hair, he told me if I wanted to get laid to go to a dance, start dancing with a woman, and start groping her. "She'll like it" he assured me.

Posted by: infinitejester at October 5, 2009 1:47 PM

families with kids are going to want a dishwasher and washer and dryer. not saying they can't live without, but for $800,000+ its definitely something they expect to have. And lets face it, when you can bring families with kids into the bidding, it drives up your price.

Posted by: Brokedeveloper at October 5, 2009 1:59 PM

ditto, you're big tipper - now I'm definitely not believing you're a chinaman (at least not from same area I'm from). hehehe.

jester's post above is right on regarding buying being an older couple. 880k is not chump change for this so so looking place. This only makes sense for someone cashing in big off selling another ppty

Posted by: more4less at October 5, 2009 2:02 PM

My Ukranian guys told me the going rate for get-a-greencard bride in Brighton Beach is 30K.

Posted by: dittoburg at October 5, 2009 2:04 PM

After the tip I paid at Per Se having quaffed far too much wine, even though service "is included", everything else pales in comparison. I cry every time I remember that evening, though not for the romance of it, though my wife thinks so.

Posted by: dittoburg at October 5, 2009 2:11 PM

A washer drier is a great convenience for doing towels and bedsheets and underwear. Easier than sending out. But many of the old co-ops don't have sufficient drain capacity to handle a stack of washing machines.
The problem with this unit, if it is a rear unit, is that it has no view. It is entirely shut in by other buildings. Which means it is quiet but claustophobic.

Posted by: Minard Lafever at October 5, 2009 2:30 PM

"A washer drier is a great convenience for doing towels and bedsheets and underwear. Easier than sending out"

How so? You put it in a bag and give it to the guy that comes to your door. You get it back washed, folded and ironed. Time spent doing that - about 5 mins.

Posted by: dittoburg at October 5, 2009 2:37 PM

they come and pick up your clothes at YOUR DOOR?!

*rob*

Posted by: Butterfly at October 5, 2009 2:52 PM

Yea. Sometimes I get people to deliver food to my door too.
You lot do live in NYC right?

Posted by: dittoburg at October 5, 2009 2:58 PM

dittoberg, true. But its like sending your dishes out to be cleaned rather than having a dishwasher. I mean loading and unloading the machine is no effort, although there is some folding. In truth I never do laundry either. Haven't a clue how long it takes (my wife has no idea how long it takes to get the car serviced and repaired so as you say, a division of labor)

Posted by: Minard Lafever at October 5, 2009 3:40 PM

I'd love to send my dishes out... Doesn't seem too practical though!

Posted by: dittoburg at October 5, 2009 3:43 PM

dburg: I think it gets more complicated with kids, I hear moms say they do two loads a day. The delivery man would have to practically move in. I think that with the new water-efficient machines and low-sudsing detergents the old drains could work, but it takes time for co-ops to catch up.


Posted by: Minard Lafever at October 5, 2009 3:57 PM

another issue with many co-ops is that they have multi-year contracts with laundry room operators. These guys keep the money from the wahing machines and driers but pay the corporation a hefty rent every month. If too many people in the building have their own machines the companies may balk at paying the rent.

Posted by: Minard Lafever at October 5, 2009 4:26 PM

Now THAT is a true gem of insider information, the kind that makes this blog so unstoppable.

Posted by: infinitejester at October 5, 2009 4:36 PM

Ditto, I also once heard that one needn't trek to the nearest newstand in one's pajamas to get a copy of the Wall Street Journal or New York Times each day, but I suspect that's just an Old Wive's Tale.

Posted by: Biff Champion at October 5, 2009 4:37 PM

and if you have a laundry room and dont feel like, or just dont have, the quarters, you can use a stocking. a very sheer one, you squeeze the quarters in and put them in place, push the thingie and when you pull it back out your quarters are still in the stocking but the machine gets tricked into turning on. the trick seems to work with about 50-75 percent of laundry mat machines out there. try it, maybe you might live in a lucky building :)


*rob*

Posted by: Butterfly at October 5, 2009 4:43 PM

rob, most machines in building laundry rooms today work with special debit cards rather than quarters.

Posted by: Minard Lafever at October 5, 2009 4:54 PM

I'd rather be known as the building masturbator than do that.

Posted by: Lowhearts at October 5, 2009 4:56 PM

lol lowhearts! (hmmm i guess im both!)

and minard, ive never seen a washing machine or laundry room with debit cards. obviously im not doubting them, but not everyone has that luxury.

*rob*

Posted by: Butterfly at October 5, 2009 5:02 PM

If you can believe it, our building has decided to go with machines which are free, because the maintenance on those coin-operated ones was turning out to be even more expensive than it is to just buy new machines every couple of years...WITHOUT the income from the coins!

Posted by: 11217 at October 5, 2009 5:06 PM

I believe that. The machines break down constantly. It's easy to see why, at least in commercial laundromats: the machines run ALL FRICKIN' DAY LONG.

Posted by: Lowhearts at October 5, 2009 5:10 PM

In most co-ops the maintenance of the machines is the responsibility of the laundry room operator. There are maybe half a dozen companies in that business in NYC. They buy the machines, install them, service them, and keep the operating fees. They pay the co-op rent for the room. The rent is in the thousands of dollars a month for a big building with say forty apartments or more. The contracts are usually five to seven years.

That's the way of it.

Posted by: Minard Lafever at October 5, 2009 5:28 PM

"I'd rather be known as the building masturbator than do that."

Best line of many funny lines in funny thread.

Posted by: Nomi at October 5, 2009 10:05 PM

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