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October 19, 2009

Co-op of the Day: 2 Grace Court, #4T

We love the building and location, but some of the usual charm of 2 Grace Court in Brooklyn Heights seems to have been lost in the recent renovation. Of course, it could just be the kitchen tiles and generic interior decoration—both of which are easily fixable—that we're reacting to, plus we're a little weird in that we don't like prewar walls to look too smooth and finished. After all, the parquet floors are still intact and it's a nicely laid-out one-bedroom. And for a full-service doorman building, the monthly maintenance of $646 is a great deal. The asking price is now $499,000, down $26,000 from when it hit the market in May. What say ye?
2 Grace Court, #4T [Brown Harris Stevens] GMAP P*Shark

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All depends which side of the building it is on. It's a nice building, but one side is very close to the BQE.

Posted by: etson at October 19, 2009 12:54 PM

nice...

Posted by: denton at October 19, 2009 12:57 PM

It looks like it's around $1000/foot.

Posted by: Nomi at October 19, 2009 1:01 PM

There may be views from the rooftop, but this apartment doesn't have it. From the pictures on the BHS website, it faces other windows in the building. If it's on the side of the BQE, the price will have to go lower.

Posted by: BrooklynIsHome at October 19, 2009 1:04 PM

parquet floors? good heavens! my trust fund shan't be going into this apartment anytime soon!

*rob*

Posted by: Butterfly at October 19, 2009 1:10 PM

Rob, you never miss a parquet floor opportunity .. . .

Posted by: Nomi at October 19, 2009 1:24 PM

to small, to expensive.
where do I put my kitchen table that maybe someday 4 people will sit??????

Posted by: STARGAZER at October 19, 2009 3:26 PM

Eat-in kitchen doesn't mean more than 1 person Stargazer... don't be silly.

Is this really what a $1/2 million, plus another $8000 a year, buys you? I'm so sick of this city's retarded ways. Yes, I know it's Brooklyn Heights. Yes, I know it has a friggin' doorman. But seriously? 1/2 million dollars for this place?

Posted by: tybur6 at October 19, 2009 3:35 PM

OK - So I've been holding this back for a while... but I hate Brooklyn Heights and Dumbo. They are both the most OVERrated neighborhoods in Brooklyn, imo. In fact, I wouldn't trade my location in PLG for an apt in Dumbo or the Heights. Sure, I'd move to Fort Greene, Carroll Gardens, Park Slope, gasp... even Billy'sburg, but absolutely not Brooklyn Heights or Dumbo area. These are the most overrated apartments/neighborhoods in all of Brooklyn and they lack a Brooklyn vibe. They are the Manhattan wannabes who move there. Good luck selling this piece of junk apt in a junk location for a 1/2 million.

Posted by: cmar7785 at October 19, 2009 3:51 PM

I had a horrible experience trying to buy into this building and would recommend that everyone stay away. My realtor was so disillusioned, that she walked away from the business.

That and this is about 50K more then anyone should pay...

Posted by: love4U at October 19, 2009 4:04 PM

cmar7785 - we prefer only indirect, passive-aggressive neighborhood bashing on this site. Thanks for letting us know what neighborhoods are cool enough for you, though.

Posted by: Brokedeveloper at October 19, 2009 4:37 PM

I live in this building. A couple of comments. This apartment isn't on the BQE. There are four towers in this complex. This one is one over from the tower on the BQE.

love4U - I haven't heard on anyone having issues with the coop board. I personally had none. I think that you are full on it.

cmar7785 - Frankly, I don't give PLG enough thought to waste time bashing it.

Posted by: nems at October 19, 2009 5:04 PM

Most people wouldn't give PLG much thought unless they lived here -- that's when one falls in love with it. There isn't much to do in PLG for outsiders and it's very neighborhood oriented, so yes it would be strange for you to give it a lot of thought.

DUMBO and Brooklyn Heights on the other hand, are constantly praised, and I cannot understand why. There aren't that many restaurants, it's inconvenient from the parts of BK I like (Prospect Park, BK Museum, Central library, Coney Island, Park Slope, etc.), there are tons of tourists that come over the bridge, and most of all, it seems that people praise these neighborhoods because of their proximity to Manhattan. I don't understand why somebody would move to one city (Brooklyn) when they want to remain primarily oriented with another city (Manhattan)? I guess to each his own.

I just think the price versus the value of real estate in these neighborhoods is inflated... and this apartment has no character.

Posted by: cmar7785 at October 19, 2009 5:23 PM

I guess I don't feel so inferior about my neighborhood that I need to get all worked up and bash Brooklyn Heights and Dumbo.

Also, price is set by market sentiment. People pay what they think something is worth. You vote with your dollars. If you don't like it, don't buy it. Clearly, enough people disagree with you that they will pay the prices of Brooklyn Heights and Dumbo.

On location, Brooklyn Heights has access to almost every subway line in Brooklyn with exception of the F. So I don't know where you get that from.

Posted by: nems at October 19, 2009 5:46 PM

This has nothing to do with my neighborhood as I LOVE many neighborhoods in BK and would gladly live in them in exchange for where I live. That being said, I also love my neighborhood, but I stumbled upon it because of budget reasons, but also feel that I found a gem. I have lived in other affordable neighborhoods (Spanish Harlem & Chinatown) and was not impressed.

This has to do with the waterfront BK neighhorhoods I mentioned. And I understand that many people are willing to pay the premiums, therefore making it worth the price. Location wise, for a bike and foot mobile person who values exercise versus subway or car, those neighborhoods are not accessible. Even by subway, it can be a 30 min to central BK. As I said, to each his/her own and this is only my opinion.

Also, if one were to "bash" PLG, I would completely understand as every neighborhood as pros and cons. People are also willing to pay a premium to live in Greenwich, CT or the Upper East Side... doesn't mean that those are valuable places to all... in fact, some people wouldn't touch those parts of the woods with a ten mile stick.

So I am sorry that you are worked up over defending your neighborhood. Maybe you could just try to feel secure that the masses are attracted to it and your apt probably has a high value, and try not get over worked about an Internet opinion.

Posted by: cmar7785 at October 19, 2009 6:02 PM

Actually, I have said nothing to defend my neighborhood. I don't feel the need. Maybe you should get some professional help. You are clearly having personal issues.

It also seems that you are mixing the concepts of price and value. You might want to consult a dictionary.

Posted by: nems at October 19, 2009 6:15 PM

"Even by subway, it can be a 30 min to central BK."

unless i want to go get shot, why would i want to go to central bk?

Posted by: jasonliu at October 19, 2009 6:42 PM

You think you will be shot in the Grand Army Plaza area? Hmmm...

Posted by: cmar7785 at October 19, 2009 6:49 PM

cmar7785 - you gotta expect some sort of retort when you say something idiotic like "they are the Manhattan wannabes who move there." That is such a Noveau Brooklyn thing to say. You must be a very recent transplant.

Posted by: Brokedeveloper at October 19, 2009 7:09 PM

I don't comment very often, but an Open House experience in BK Heights has led to. I've been living/renting in the neighborhood for a solid 2 1/2 years now, the entire time looking to buy a 1-bedroom around the $400K area. Yesterday I went to an OH at 135 Willow Street for $425K and my jaw literally dropped at the fact that the bedroom was no more than 8' x 8', there was a full bed inside and not even enough room to walk around it. It was dark, limited closet space, and teeny kitchen. One positive thing was that it was perhaps the first 1-BR I'd seen in the neighborhood with monthlys/CC at $599, it's absurd what the average maintenance is in the neighborhood. 111 Hicks averages about $1000-1300/month for a 1 bedroom; who seriously will pay that? What have I figured out after 2 1/2 years of going to open houses? Unless you're spending $600K+ for a 1-BR with a decent amount of space, it makes absolutely no sense to buy in this neighborhood when you can continue to rent for hundreds of dollars less a month. Unless I'm missing something, this may be the most 1st-buyer-unfriendly neighborhood.

Posted by: fishermb at October 19, 2009 8:55 PM

And that's the thing... so you need to "trade up" to get a small little hole to call your own (and pay through the ass monthly)??

Posted by: tybur6 at October 19, 2009 9:34 PM

I had a place in Brooklyn Heights for 17 years--a coop. I know all the buildings mentioned -- I like 2 Grace Court, 111 Hicks St. has a screwed up mortgage that is why the maintenance is so high, 135 Willow is very ugly. I understand the pros and cons of Brooklyn Heights. I felt that it had a claustophopic feel to it after a while. It is pretty white bread, heavily inhabited by financial industry people, like me, who like the easy commute to downtown. I agree that there are not many restaurants, and it is definately more expensive than a lot of other areas, although good deals can be found. I really got sick of coop life; I lived in a gorgeous 25 foot wide brownstone with 5 stories and 9 apartments and when I had the opportunity to move out of NY for a good job, I just sold the damn place rather than deal with the board to sublet it. And when I returned to NY, after having owned a house, I decided I just couldn't take the commune environment again and no way could I afford to buy a building there.

I have to say that at times my new neighborhood, Ft. Greene, is annoying because of the lack of retail over where I am, but it is getting better and I just LOVE my street, my neighbors, the architecture. I love the fact that there are kids running up and down the street (you do not see this in BH) and after a while, everyone on my block and I gradually got to know one another and become neighborly in a light touch kind of way. I sometimes think that never would I hear gunshots in BH (which I have heard here at night) but I was actually held up at gunpoint on the Promenade with a friend at twilight one September evening in the mid 80s. You don't have that now, but there is still crime there. Anyway, I guess like any place, each person has their own criteria but BH definately has its charms.

Posted by: donatella at October 19, 2009 9:59 PM

ewwww. what a horrible apartment. Not enough windows, and not in the right places. And the photographs don't do it any favors. Makes it look like the ceiling is about 6 feet high.

Posted by: zuleika at October 20, 2009 12:03 AM

ewwww. what a horrible apartment. Not enough windows, and not in the right places. And the photographs don't do it any favors. Makes it look like the ceiling is about 6 feet high.

Posted by: zuleika at October 20, 2009 12:07 AM

I have a friend who lives in this building. The place is really well maintained and the block is so peaceful. I haven't been to this apartment, but the pics look nice.

Posted by: mrbenedict at October 20, 2009 8:28 AM

Very nice neighborhood and building. The apartment is ready to move in and looks very nice. This is a steal at that price.

Posted by: Captain Monte at October 20, 2009 1:03 PM

still overpriced @499k... it will sell for around 60k less.
Leave it to BHS to once again over price everything on the market.
Now please~take a look at that SMALL bedroom...WOW!?
Did someone say BUNKBEDS?
Great block and building but where is it located on the noisy BQE side or dark courtyard?

Funny that the clueless broker at BHS already has an open house scheduled for December 19....???? Go figure!

Posted by: tjj at October 20, 2009 9:41 PM

For me, the feel of the Brooklyn Heights neighborhood is like no other. It has a specialness difficult to describe, and atmosphere is an inadequate word. Spending some time there would probably dispel the notion of Manhattan wannabe.

As for 135 Willow St, mentioned above, I've been in a couple of apartments that were quite nice. 135 was built before Bk Hts was named a National Historic Landmark in 1965 (?). Photos by Berenice Abbott are available on Google of what Willow Street looked like before 135 was built.

Posted by: BklynSoFar at October 21, 2009 11:21 PM

I have visited this apartment and think it is adorable!
As a fan of cooking, this kitchen is great and large enough to accommodate the kitchen dance.(That means a bunch of people being in the kitchen, cooking/ cleaning/ hanging out.) If you were to actually go to this apartment, you would see that there's a reasonable enough space for anyone interested in a true one bedroom. Reasonable in this and similarly priced neighborhoods. (Bunk beds? Get real.)
About the BQE, you would never know it's there unless you google map the address. You can't hear it from the apartment or see it unless you're enjoying the kick-ass roof deck, but even then you couldn't call it a nuisance. Speaking of the roof deck... It's awesome.
I also appreciate a clean, freshly painted wall. :)

PS Did you realize you posted the same things 2 and 3 times? Seriously, it wasn't such a great post that it needed to be repeated. Now who's really clueless?

Posted by: misssarabee at October 22, 2009 10:45 PM

« Church Conversion Underway on Bedford Avenue House of the Day: 524 2nd Street »

October 19, 2009

Co-op of the Day: 2 Grace Court, #4T

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