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October 7, 2009

Co-op of the Day: 25 South Oxford Street, #5

25-South-Oxford-1009.jpg
This top-floor garrett at 25 South Oxford Street in Fort Greene hit the market last month asking $599,000 but was just reduced to $550,000. The 900-square-foot two-bedroom has some cute elements, namely the skylights and windows, but doesn't appear to have much in the way of original details. The maintenance of $750 is neither here nor there. We bet this goes in the low $500,000s.
25 South Oxford Street, #5 [Corcoran] GMAP P*Shark





Posted by Brownstoner at 12:43 PM | Comments (50)
Categories: Co-ops, Fort Greene

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Comments

Now that's a nicely written ad! I love the skylights. What is the kitchen floor made out of? Hard to see.

Posted by: InsertSnappyNameHere at October 7, 2009 12:49 PM

Exposed brick on the top floor means brick dust settling over everything within 5 inches of the wall.

Posted by: infinitejester at October 7, 2009 12:49 PM

What makes the difference between exposed brick on the top floor creating dust vs. any other floor in the building?

Posted by: InsertSnappyNameHere at October 7, 2009 12:52 PM

Roof rights.
That's sweet.

Posted by: brownjokester at October 7, 2009 12:57 PM

How is $750 a month maintenance for a walk-up (one-bedroom chopped into two) apartment neither here nor there? It's cute but why would you buy this for even $500K?

Posted by: BH76 at October 7, 2009 12:59 PM

exposed brick = dust? i lived w/exposed brick before and never noticed an increase. Dust = dried skin flakes.

Posted by: BSD at October 7, 2009 1:00 PM

first of all who cares about brick dust. 750 a month to have the right to own a walk up? This does not seem to make sense to me, pass

Posted by: bitter_bubble_buyer at October 7, 2009 1:04 PM

I love the place but it seems way overpriced, especially since its a walk up. But it is beautiful.

Posted by: bxgrl at October 7, 2009 1:09 PM


This is an example of the usual absurdity this city has to offer. It's a nice enough place in a nice location...

But is it worth ponying up $100,000 plus $2300 per month for the mortgage, plus $750 per month for maintenance?

I would say, that's effing ridiculous for a walk-up, 1-1/2 bedroom apartment.

Posted by: tybur6 at October 7, 2009 1:12 PM

I agree with BH76 re maintenance and layout. This really is essentially a large one bedroom walk-up. Seems a bit hefty of price and maintenance, but is charming, bright and on a phenomenal block.

This could be a great apt. for a single mom and a child or two. Or a couple who needs a guest room/office.

I would say the deal is done at 475k.

Posted by: Nokilissa at October 7, 2009 1:12 PM

Went to the open house last weekend. Discovered that heat and hot water were NOT included in the $750 maintenance – they’re extra.

Posted by: mgk at October 7, 2009 1:16 PM

quote:
"This could be a great apt. for a single mom and a child or two"

oh yes. there's SO many single mom's out there with 2 kids with a spare 100K laying around to put down on a deposit.
:-/

*rob*


Posted by: Butterfly at October 7, 2009 1:17 PM

There is so much overpricing in the fgreene/chill areas of brooklyn - it doesn't even make sense to look there anymore.

I saw an ad that that justified its pricing because the place was "right down the street from the Habana Outpost"

That is not exactly where I'd want to be locating myself these days - not for $500,000 or more.


Posted by: The Who at October 7, 2009 1:17 PM

So, the target for this place... it seems to be a single person or a cozy couple that makes $100,000+ per year and has a full-year's gross salary in a shoe box.

Yeah, that's typical.

The worst part of this whole thing. Some douche bag is going to buy this place for $500,000.

Posted by: tybur6 at October 7, 2009 1:20 PM

"oh yes. there's SO many single mom's out there with 2 kids with a spare 100K laying around to put down on a deposit.
"

2 words: Divorce Settlement.

Posted by: bowl of dicks at October 7, 2009 1:23 PM

lol good point. but if she moves into this place she aint gonna be getting any action.

*rob*

Posted by: Butterfly at October 7, 2009 1:26 PM

Oh, and I mean douche bag in the most generous and sincere sense.

Posted by: tybur6 at October 7, 2009 1:29 PM

tybur6, your posts will soon draw in Antidope to give you a tongue lashing

Posted by: more4less at October 7, 2009 1:35 PM

tyburg the Toren is soaking up all d-bags in the area. There are not enough left for this to sell at this price :)

Posted by: bitter_bubble_buyer at October 7, 2009 1:36 PM

My fireplace in my top floor apartment sheds brick dust - wind swaying the chimney. The top of a building takes the most swaying, so I'm guessing here. Educated guess, but worth considering as an angle.

Posted by: infinitejester at October 7, 2009 1:44 PM

can you just shellac the exposed brick to keep the dust from getting all over? dust is my mortal enemy.


*rob*

Posted by: Butterfly at October 7, 2009 1:51 PM

unsealed exposed walls sheds dust - that's a fact. amount of dust is up for debate.

like tybur6, I think this is way overprice but do suspect someone will pay 500k

Posted by: more4less at October 7, 2009 1:53 PM

I'm just trying to figure out what the Oro and the Forte mean for condo/coop prices around here in general. I've watched the two Lexington loft buildings sit basically empty for a year while they inch the prices down.

Corcoran has a smaller listing on Greene and Classon for ~$450K which makes this look pretty good.

Posted by: serpentor at October 7, 2009 1:56 PM

In my case no need to seal as it's not much, just becomes part of my usual dusting routine.

Posted by: infinitejester at October 7, 2009 1:58 PM

This is a $2500 rental at best. Anyone who pays more than $500,000 for this should be "disemvoweled"

Posted by: Brokedeveloper at October 7, 2009 2:00 PM

Broke, you are a poster with the most-er.

Posted by: infinitejester at October 7, 2009 2:18 PM

Why not rent the renovated 2br at 301 Cumberland (one of the cutest block in Fort Greene) for $1,788/month instead? Save $1,500 extra every month to add to your 120K. By next year you can buy a real 2 bedroom apartment.

Posted by: Maly at October 7, 2009 2:22 PM

Broke / Maly, stupidity can not be underestimated.

Antidope, I couldn't resist posting that. I'm ready for your tongue lashing

Posted by: more4less at October 7, 2009 2:46 PM

IJ - Pintchik sells brick sealant - matte or glossy.

Posted by: Arkady at October 7, 2009 2:56 PM

"tybur6, your posts will soon draw in Antidope to give you a tongue lashing"

I'm just a second rate temporary substitute. But the idea that if only everyone weren't such douchbags, then prices would go down is . . . . silly.

Something is worth what someone will pay for it. If they are asking too much for current market, then they won't get it.

Posted by: Nomi at October 7, 2009 2:57 PM

I don't love those odd angles. And exposed brick feels oppressive to me in a house. Not just because Jonathan doesn't like it! (Or "Johnathon," if anyone is watching "Bored to Death.")

Nice otherwise. Though, I do think it's probably high.

Posted by: Nomi at October 7, 2009 3:02 PM

Oh, weird. There's a "Bored to Death" ad right on this site. It's funny. Especially ANY scene with Zach Galifianakis.

Posted by: Nomi at October 7, 2009 3:04 PM


Nomi -- only d-bags would determine that this price (or anything close to it) is appropriate. So, if the market is being determined by d-bags... Jesus help us.

I hope it's true that they're all moving into Toren and the other similar buildings. Then maybe a 1-bed + office wouldn't cost $3000 a month PLUS a hundred grand cash. I'm sorry if you think this apartment is "worth" this much or if your friends with someone who feels this way. In my book, they're a d-bag... again in the most generous and sincere sense of the word! :-)

Posted by: tybur6 at October 7, 2009 3:18 PM

Tybur6, you'll be huge d-bag when you hit the megamillion this Fri

Posted by: more4less at October 7, 2009 3:22 PM

"Nomi -- only d-bags would determine that this price (or anything close to it) is appropriate. So, if the market is being determined by d-bags... Jesus help us."

The market is being determined by all of us.

If MoneyForNothing wanders in, he will probably tell me how laughably naive I am.

I said ALL of us. I don't deny that there are unsavory forces at work as well, but I still say the basic mechanisms of an open market stand. Isn't that grand!

I get effing pissed at the price or real estate in NY too. I just don't consider it a moral injustice, but rather the usual effects of supply and demand. People want to live here really really bad.

Posted by: Nomi at October 7, 2009 3:42 PM

m4l... you don't even know how fast I would become a d-bag if I won this week! It would be truly startling.

Posted by: tybur6 at October 7, 2009 3:44 PM

Can't believe no one is being taken to the woodshed for the snarky remarks about single moms.

What, women can't or don't earn enough money to buy their own homes in the City? They must either use divorce settlement money from their ex-husband's income, or must live in public housing? Sure, that happens, but it isn't every single mom I know. Get your heads out of your stereotyping butts please.

Posted by: Nokilissa at October 7, 2009 4:31 PM

Noklissa... totally agree with you. If I got married and knocked up a nice lady, I'm sure the divorce settlement would be flowing in my direction!! Cuz I sure as hell don't have any money.

Well, until friday!

Posted by: tybur6 at October 7, 2009 4:45 PM

OK. But can I leave my head in my butt if it's not a stereotyping butt?

Posted by: Nomi at October 7, 2009 4:46 PM

whatev. show me one single mom with 2 kids who has an extra 100K laying around.


*rob*

Posted by: Butterfly at October 7, 2009 5:06 PM

I'm just checking in. Thank you Nokilissa for pointing that out.

I'm not quite sure I see the point of the angled wall. Why couldn't the wall have been straight back? It would have made two usable bedrooms. Angled walls lead ugly and messy furniture placement when the rooms are so small you need every square foot. Makes no sense to me. If you have some huge mod loft space with angled walls, then who cares? But a small space like this?

Don't get me wrong. I've seen nice things done with walls at odd angles but in this apartment it seems pointless.

Note the regular overstretched Corcoran photos! They always make me laugh!

Goodnight!

Posted by: BrooklynGreene at October 7, 2009 7:42 PM

Rob, a year and a half ago I could definitely raise my hand. But last year I got married.

Posted by: kensingtonka at October 7, 2009 7:48 PM

Rob, it's "lying around" not "laying around". Lay takes a direct object: "I lay the book on the table."

Or, it's the past tense of "lie" (as in recline, not fib):
"Yesterday, I lay down on the couch at seven o'clock after dinner and ended up sleeping all the way until this morning."

Remember:

LIE (as in recline)
I lie down.
Yesterday I lay down at eleven o'clock.
I had lain there at least half an hour when the telephone
rang waking me up."
**************

LAY (as in putting something down)

I lay bricks for a living.

I laid the book on the table when I entered the house.

I had laid the dishes already when I suddenly realized I hadn't put down the felt pad under the tablecloth!.

*************

LIE (as in fib)

He often lies to me but I don't care.

He lied to me yesterday but I let him get away with it.

He had lied for years until she finally got wise.

Posted by: BrooklynGreene at October 7, 2009 8:01 PM

Kensingtonka,
Don't tell me you have kids and just got married AND spent a mint on the wedding?! I hope you didn't spend $40,000 on a second wedding.

Posted by: BrooklynGreene at October 7, 2009 8:02 PM

""=Rob, a year and a half ago I could definitely raise my hand. But last year I got married."

kensingtonka, um, does that mean you had a $100,000 wedding?

Posted by: Nomi at October 7, 2009 8:31 PM

BrooklynGreene and Nomi, she means a year and a half ago she was a single mom with 2 kids and 100K. Now, she is married, still with 2 kids and still with those monetary means (not spent on wedding).

I should know, we're siblings :o).

Posted by: Kensingtonian at October 7, 2009 10:34 PM

If I had this money I sure wouldn't spend it on this sad apt.

Posted by: mopar at October 7, 2009 10:47 PM

Seconding Mopar:

I saw this apartment last weekend. It's small and feels shabby, and it's a long walk up.

I've been looking to buy for a year now, because I do have a sizable downpayment nest egg lying around, from selling another apartment. I could afford to spend $520K if I stretched, which I won't.

But who in his right mind would buy a place now when you can rent a better place for so much less?

Prices will have to come down drastically across the board before anyone rational chooses to buy over renting.

Posted by: zuleika at October 8, 2009 12:13 AM

I saw this apartment last weekend. It is really small and does feel shabby plus the walk up is awful and the stairs are falling apart. I would pay MAXIMUM 450k for this place for the location alone.

Posted by: lucky33 at October 8, 2009 10:33 AM

Ha-ha, funny. Thanks, Kens, for clarifying.

And Rob's assumption re: single mothers was really annoying.

Posted by: kensingtonka at October 8, 2009 1:16 PM

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