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Co-op of the Day: 113 Sterling Place, #5

Categories: Co-ops, Park Slope

113-Sterling-Place-0110.jpg
This loft-like two-bedroom at 113 Sterling Place in Park Slope just hit the market this week. The recently renovated (in what we'll call a modern traditional style) duplex is located in a former carriage house and comes with a very attractive private deck. The monthly maintenance is $1,126, which we're guessing comes out to about a dollar a foot and the asking price is $799,000. Sound reasonable?
113 Sterling Place, #5 [Brown Harris Stevens] GMAP P*Shark




By Brownstoner at January 7, 2010 12:41 PM | Comments (19)

19 Comments

By InsertSnappyNameHere on January 7, 2010 12:51 PM

I like the layout with the exception of one thing...it always irks me to no end when the outdoor space can only be accessed by passing through a bedroom, especially the master.

By Adam Dahill on January 7, 2010 12:54 PM

Maintenance is a little high but I totally love this place. BEAUTIFUL.

By Brokedeveloper on January 7, 2010 12:54 PM

Nice apartment for a single working from home or a couple. Not neccessarily a family apartment (the upstairs is open to the below, no privacy). The deck is a big plus.

This is probably priced pretty well. Assuming no major issues getting a mortgage on a small co-op and the financials aren't a mess, $749k takes it.

By gemini10 on January 7, 2010 1:03 PM

Great street and location!
there are lots of things to love about this place, however what makes this co-op have a chefs kitchen? Just becuase you install stainless steel appliances, doesn't make it a chef's kitchen? come on!

all in all a nice place though, maintenace is high!
I'd say it gets pretty close to ask maybe $740K

By A CrownHeightsLady on January 7, 2010 1:09 PM

InsertSnappyNameHere...I completely agree. I also don't get the half bath in the master either. Either have a full master bath or none at all.

Nice place but the floor plan needs some adjustments.

By InsertSnappyNameHere on January 7, 2010 1:13 PM

Hmmm, yes, ACrownHeightsLady, I'd blow out that second small closet in the master and put a tub there.

By househunt on January 7, 2010 1:16 PM

That monthly is awfully high. Makes me suspicious.

By blackie blackerson on January 7, 2010 1:19 PM

The maintenance kills it. High 600s maybe.

By STARGAZER on January 7, 2010 1:55 PM

Not terrible, at least it isn't the usual 2 room thing. It could just use a few adjustments for me to be totally happy.

and I agree also, I hate the terrace access through the master, but think about it: How many times do you really have company (guests) come over and hang out on a terrace, more used for oneself...well at least in my home.......

By crazypants on January 7, 2010 2:14 PM

The maintenance is insane considering its a two story carriage house - there's no unionized staff or even a handyman. The taxes couldn't be that high, could they? Who's pocketing most of that dough?

By Fjorder on January 7, 2010 2:16 PM

blackie...yup, maintenance kills it.
and i hate the stair rails. and the dead-end kitchen.

By 11217 on January 7, 2010 2:33 PM

Before you bitch that the maintenance is too high, doesn't one need to know the square footage? I don't see anywhere what it is, but the place looks rather massive to me. A 28 foot long living room/dining room and a 17 by 21 foot master are huge rooms by nyc standards.

It looks as though it's at least 1200 sf without the terrace which is another 400 sf in which case the maintenance is actually not high at all for a space this size.

Less than $1 per square foot is cheap considering how much maintenance costs have gone up in the last couple years.


By lesbiman on January 7, 2010 2:42 PM

I love the term "chef's kitchen". A real chef's kitchen would be a cramped narrow galley with lots of stainless steel racks and countertops. The object is to produce terrific food, not look at the countertops and door jewelry. Can't realtors come up with a more appropriate name?? Like "you'll impress your friends kitchen"? It seems like if its cherry cabs, SS apliances and granite it'll be called a chef's or gourmet ktichen. The kitchen looks suspiciously like IKEA cabs and also looks like it may have once been a closet? Why the perpendicular floorboard straight through the middle of the kitchen? No designer in their right mind would have it as a design element.
The living room and dining room is pretty good size if the dimensions are accurate....

By Percy on January 7, 2010 3:07 PM

Thank you for that post lesbiman! As a former chef I too am fed up with the terminology. Most of the kitchens that are drooled over seem to be more in line with your "impress your friends kitchen" comment than with actual cooking. Anyone who cooks on a regular basis will probably agree that the whole open kitchen concept is a bit ridiculous unless you enjoy wiping grease particulate off your living room furniture, walls and floors. Thanks for giving me a laugh today!

By BH76 on January 7, 2010 3:22 PM

It's lovely BUT....

Who want to go to the kitchen for a shower in the morning? And in what world is maintenance of $1 sq. ft. for what (no services????) reasonable? The only thing I can see is that the real estate taxes are baout $5000/year and there is a decent sized mortgage on whtever this coop is (two units?).

By Mario M on January 7, 2010 9:51 PM

Question for the guys who always appraise at 100K over ask or more on the widget: Do you really think every listing agent for a HOTD, Co-OpTD, etc. is so clueless he/she is undershooting the market for 10% or 15%, or you just want to get even with all the guys who appraise super-low? Just curious.

By kimcheater on January 8, 2010 8:48 AM

Judging from the 56% tax deduction, I'd say the maintenance is high because of an underlying mortgage on the building. Does the boiler in the unit mean the owner (shareholder, if you want to be technical) pays for heat and hot water?

By BrooklynSteve on January 8, 2010 11:26 AM

If I live there, I have to go downstairs from my nice, spacious master suite to take a shower? Come on... install a stall shower upstairs, expand the bathroom.

By Scrappalonk on January 31, 2010 10:03 PM

I think the low appraisals are from haters who probably can't afford the area. I think all of the above comments about the aesthetics are correct, but how about everything that is right? I believe the ask is a fair price considering the great area it's in!

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