Co-op of the Day: 495 1st Street, #2
We're hot-to-trot for this one-bedroom co-op at 495 1st Street in Park Slope. Sure, we wish it were a tad bigger but for one person this would be a great pad. Admittedly, we're seduced by the gorgeous woodwork—but the private deck doesn't hurt either. The monthly maintenance is a low $375. And what about that asking price of $575,000? Too much?
495 1st Street, #2 [Brown Harris Stevens] GMAP P*Shark
58 Comments
By daveinbedstuy on January 25, 2010 12:44 PM
By tybur6 on January 25, 2010 12:46 PM
Of course it's too much, but it's a nice little place. Too bad you have to have so much money to live there.
(Please note: That's all I'm saying. There's nothing controversial in what I just said.)
By bkny on January 25, 2010 12:57 PM
ty - agreed.
By 11217 on January 25, 2010 1:07 PM
Fantastic building, terrific location, love the deck, it has central air and really great woodwork. Great pad.
BUT for 575K, I want a nicer kitchen that that.
For that price for a 1 bedroom, the place should be nearly perfect.
By CGar on January 25, 2010 1:11 PM
Agreed 11217. My only negative comment is the kitchen. Too bad some of the wasted space in the hall couldn't be used to also make a larger kitchen, perhaps with an entrance from the hall rather than the living room.
By DeLepp on January 25, 2010 1:12 PM
This is quite a large one bedroom and would be pretty much perfect for a couple. How much sq feet do couples need today? Kitchen sucks but 15-20K fixed that.
By Fjorder on January 25, 2010 1:15 PM
$575K is too much, although it' a well-appointed (washer/dryer, central air, deck, gorgeous woodwork) 1BR.
come on. I looked at 2BRs in bldgs. with significantly nicer kitchens (not Sub-Zero, but nicer than these pics show) for just under $600K. So I have no clue how this place is worth $575K.
By Maly on January 25, 2010 1:19 PM
What a perfect little jewel box! A fireplace, a deck, beautiful period details. A new kitchen and a bit of paint, it will be perfect.
By 11217 on January 25, 2010 1:20 PM
DeLepp...I was thinking the same thing when Mr. B made reference to the fact that this was good for a single person.
This is a pretty large 1 bedroom and I think a couple would be just fine here. 17 by 18 living room and a deck plus a good sized bedroom is find for 2 people.
Fjorder, the 2 bedrooms I've seen in the price range you mention are not much bigger than this 1 bedroom and the maintenance on those places is at least double usually.
So yes, this place is overpriced probably, but with a new kitchen, it's about as nice a 1 bedroom as you could want for this location.
By etson on January 25, 2010 1:21 PM
I agree re the kitchen. Aside from it's decor I don't like kitchens that sit in the corner of the living room without any separation.
The rest is nice enough, and obviously location is very good.
By Nomi on January 25, 2010 1:30 PM
Beautiful woodwork.
Does anyone see where they eat?
Kitchen needs help. I saw these types of cabinets repainted and . .. something else simple that I can't remember on HGTV (Yes!) that really transformed them. An interim solution, maybe, but at least could postpone bigger job. CGar's idea seems good, though I love "wasted" foyer space.
Still, though, seems too high. Maybe trying higher price cause maintenance is low? But still.
By Nomi on January 25, 2010 1:32 PM
"I don't like kitchens that sit in the corner of the living room without any separation."(etson)
Oh, yeah, me neither. No window there, though, so would be hard to reconfigure with more separation.
By 11217 on January 25, 2010 1:34 PM
I agree Nomi...I enjoy the "wasted" foyer space as well. Makes a smaller place feel grand and a great place for art.
I wouldn't trade that for a larger kitchen...the size of the kitchen seems generous, it just needs updating in my opinion.
The maintenance really is low enough to warrant a larger price tag (remember the Brooklyn Heights 1 bedroom last week or the week before with over $1,000 a month maintenance).
By DeLepp on January 25, 2010 1:39 PM
Maintenance seals the deal as the bldg only pays about 10K in property taxes.
That kitchen size would be a dream for most people in the city. We've all been duped by HGTV into thinking that we're having dinner parties every weekend for twenty guests.
By FloatingWorld on January 25, 2010 1:40 PM
The kitchen needs to be re-worked in plan, but isn't that part of the fun?
By petunia on January 25, 2010 1:47 PM
I've always loved this block and this building in particular - I'm surprised it's a co-op. Most of the houses on this block, I believe, are 1-2 families. Besides the charm of the apt. itself, you're paying a premium for the block, and that combined w/low mt. doesn't make the price seem out of line.
We lived in a similar co-op for a while (converted brownstone on coveted street w/ very few multi-family bldgs), and our neighbors sold their place in the low 800,000's at the height of the boom. Their apt. had a teensy second bedroom (big enough for a baby or small office) and a roof deck instead of a deck off the back of the apt., but otherwise pretty comparable. That was, admittedly, a crazy price, but it shows that people will shell out for these hard-to-come-by apartments.
By CGar on January 25, 2010 1:52 PM
I like foyer and hall space for art as much as the next person. But I like to cook and entertain, so I'd still opt for a larger kitchen. And I also agree with etson - I prefer some separation between the kitchen and the living room.
But don't get me wrong, I think the kitchen is easily updated, and you don't have to spend a fortune to do it. And even if you don't want to break through to the foyer, you can add a counter between the kitchen and living room, and even hang cabinets from the ceiling with glass doors on both sides, giving you both light and separation. Just sayin'.
And yes FloatingWorld, I agree that's part of the fun.
By 11217 on January 25, 2010 1:54 PM
What you say is certainly true, Petunia.
These gorgeous 1 bedrooms are highly sought after. The block is magnificent...one of my favorite in the Slope.
By CGar on January 25, 2010 2:05 PM
The other reason they're asking a premium for this apartment - and I think they'll get it - is proximity to *rob*.
By petunia on January 25, 2010 2:10 PM
*rob* lives this close to 321?
By DeLepp on January 25, 2010 2:30 PM
cgar- btw, bf asked if rob was psychic why couldn't he find tarot cards thursday night...
By saminthehood on January 25, 2010 2:34 PM
"This is quite a large one bedroom and would be pretty much perfect for a couple. How much sq feet do couples need today?"
This is certainly not "quite a large one bedroom." And, it is far from perfect for most couples. Yes, if you are a couple that is out all the time and rarely home, dont like having company over, don't have much stuff and dont need your space, this is fine. But if you actually use your apt to live, its far from perfect for a couple. We and various couple friends have lived in apartments this size, and it wasn't easy for any of us. You outgrow it (or the relationship!) quick.
That being said, you can rent a much bigger apartment for less. At this price its insane for a couple.
But the deck is a nice bonus.
By 11217 on January 25, 2010 2:38 PM
Sam,
Weren't you also the person who last week said that 2 bathrooms were necessary in a 1 bedroom apartment?
I think you need to realize that some people might have a little less...how shall I say it...hoighty toighty taste than you do.
Or perhaps they just love their spouse a little more.
By Nokilissa on January 25, 2010 2:41 PM
I don't know. I'm with Mister B on this one. A couple could find it awfully cramped awfully quickly.
Or at least once the young blush of living together has inevitably faded some.
One small bedroom closet, a small one-sink bathroom, no office space or anything even approximating it, and a tiny corner-of-the-living-room kitchen.
It is cute though. All but the eighties, particle board kitchen.
By 11217 on January 25, 2010 2:46 PM
"One small bedroom closet"
Or as the listing says, "a large fitted California Closet."
And there are two additional closets.
I guess if I lived here with a significant other, I'd just live out on the deck so the space seems fine.
I guess I'm easy though.
I bought my studio from a couple who lived there for 5 years (happily married). Crazy, I know.
By Nokilissa on January 25, 2010 2:47 PM
"Love their spouse a little more"?
I love my spouse in spades, one-one. Doesn't mean I want to be on top of him and everything he does and vice versa anytime we are home together.
And I'd rather like to keep some of my stuff - for which there would be very little room in this apartment.
I think having a bit of space actually increases ones affection and desire for one's partner. Just sayin'.
By lesbiman on January 25, 2010 2:49 PM
I suppose one could put a narrow/long dining table in the foyer to create a separate eating area, but too bad the layout is as it is. For the sq footage, some wasted space.
Woodwork is great. I agree the totally open kitchen is not ideal. A bit openness OK, but don't want to look at such an unimaginative ktichen all the time. Totally contradictory for the space.
CC seems low. Perhaps a person buying in this market/ property type would compare other properties in light of total oulay (mtg and cc)?
Then the price may seem more on target.
By 11217 on January 25, 2010 2:49 PM
It was a joke, Noki. The love their spouse a little more part. :)
I'm weird...I like living with very little "stuff"
I have no doubt I'd be fine here with a significant other. But like I said...I'd be either on the deck, out and about in the neighborhood or in bed. ;)
By 11217 on January 25, 2010 2:50 PM
"Doesn't mean I want to be on top of him"
Your poor husband. This is really the only reason I want one.
By squaredrive on January 25, 2010 2:53 PM
"But if you actually use your apt to live, its far from perfect for a couple. "
It sounds like you don't think a couple could live in a 1BR at all? This seems pretty middle of the road for a 1BR size-wise to me. I haven't seen a tone of 1BRs that are substantially larger- people just convert extra spaces to a second BR and market it as such, whether they use it for an office or whatever.
I guess if the kitchen were separated and the BR a couple feet bigger it probably wouldn't draw the criticism. It's certainly open to nitpicking at that price, but it's a nice place.
By Nokilissa on January 25, 2010 2:55 PM
Ha! (furrow, furrow, how could I let that one slip...)
By CGar on January 25, 2010 2:57 PM
"It sounds like you don't think a couple could live in a 1BR at all?"
I would have a lot of trouble sharing a 1-bedroom apartment. As much "stuff" as I've gotten rid of in recent years, I still have "stuff". And if I didn't have a little of my own space I think I'd lose my mind.
By arches on January 25, 2010 2:59 PM
"Maintenance seals the deal as the bldg only pays about 10K in property taxes. "
The maint. seems awfully low if this is the case. It's only a three story building...assuming the co-op shares are allocated evenly per floor, this unit alone would pay the equivalent of $277/mo in taxes. That leaves less than $100/mo for everything else (water, fuel, insurance, repairs, etc). Maybe one floor has extra shares for access to the yard or something...but still seems like the vast majority of that maint. gets eaten up by taxes.
By DeLepp on January 25, 2010 3:02 PM
Guess I'm just odd but my place has a biggerbedroom and way smaller kitchen and we manage to have dinner parties and guests over all the time. Plus, what childless copules stay home all the time when NYC affords all the cultural things to do.
By 11217 on January 25, 2010 3:09 PM
DeLepp,
I don't like to think we're odd...I like to think we have a more urban mentality than many posters on this blog who although they may have moved from the burbs to NYC, they still think that 3000 sf is the bare minimum for a couple with one child.
Are you from abroad? Many people in Europe would think this space is lovely for 2 people.
The whole point of paying extra to live in a nice neighborhood is so that you enjoy your surroundings. You don't pay almost 600K for a 1 bedroom in Park Slope if you don't plan on taking advantage of the restaurants, the park, the shops, all of it.
If you want bigger and spend more time at home, you can go find something for half the price in a neighborhood without all those amenities.
By more4less on January 25, 2010 3:23 PM
Delepp, whether true in actuality or not, your place feels bigger than this unit. BTW, would take your unit over this one anyday.
11217, where the heck were this past Thurs night? I was looking forward to meeting you. BTW, DH was there
By DitmasSnark on January 25, 2010 3:25 PM
> If you want bigger and spend more time at home, you can go find something
> for half the price in a neighborhood without all those amenities.
Bingo. That's what I ended up doing. And when I do want those amenities, it's a 10 minute subway ride into the Slope.
By 11217 on January 25, 2010 3:28 PM
Exactly Ditmas.
And personally I'd rather have the smaller place with the amenities right outside my doorstep (because I use them often). Different strokes/different folks.
Yeah, sorry I missed you guys on Thursday night, M4L. I ended up getting concert tickets last minute and couldn't make it.
Anything else planned?
By DitmasSnark on January 25, 2010 3:31 PM
PS to 11217: I finally made it to Get Fresh for brunch. The food was delicious, and the Stumptown coffee was excellent.
By more4less on January 25, 2010 3:31 PM
11217, heard something else is planned in 2 wks.
By 11217 on January 25, 2010 3:35 PM
Oh I'm so glad you enjoyed it, Ditmas. I love that place.
Another place for you to try if you haven't already is Lot 2 on 20th Street and 6th Avenue. There's also a great vintage store next door called Robert Henry Vintage. And they're open till 9pm Wed-Sunday. Such great stuff.
The new Giuseppina's (Lucali spinoff) is also opening on that corner but nothin' yet.
HIGHLY recommend Lot 2 though. Their dinner is great and then they do a "sunday supper" price fix for $25. SOOO GOOD.
By DeLepp on January 25, 2010 3:40 PM
11217, I'm from North Jersey. Home boddies we weren't. If one worked from home then maybe this space too small. I know a couple in southhampton who have a 7K square foot mcmansion for 2 people. All about ego. Some just don't escape high school. That second bedroom commands a premium but in most cases on a sq foot basis it wasn't worth it.
By PlazaMan on January 25, 2010 3:42 PM
Aren’t Park Slope one bedrooms the new two bedrooms? When I moved into my Park Slope one-bed in 2001, most of the one beds in my building were owned and occupied by one person. Since that time, almost every one-bed that has sold in my building has been purchased by a couple. Often a couple who quickly has a baby. I think it is absurd to raise a child in one bed, but apparently my neighbors don’t agree.
By 11217 on January 25, 2010 3:42 PM
North Jersey....Europe...same difference.
:)
I'm on your page. As I often seem to be.
By DeLepp on January 25, 2010 3:45 PM
11217, funny. Had friends up to the lake and one said "This reminds me of Lake Lucerne". Mother almost choked on vodka tonic.
By DeLepp on January 25, 2010 3:47 PM
m4l, I'm not so sure, that kitchen is bigger and it's an easier climb out to the deck.
By saminthehood on January 25, 2010 3:51 PM
As a born and bred NYer, I have been in hundreds of one-bedrooms, and this is not large, by any means. Check out one-bedrooms in many pre-war buildings, and you'll see the difference. 20-foot living rooms, separate kitchens, usable foyers. Alcove dining areas. If you cannot fit a usable dining table into the apartment, its not large. Its doable for a couple on a budget, sure, and the layout for the square footage is better than many, but its far from ideal. When you are in your early-mid 20s, and you have dorm living as your only comparison, then this is grand. But for an adult couple, its way too small. You either can sit on the couch in the LR or lie on the bed in the BR. (Not to mention the fact that the kitchen is open to the main room, which further limits your ability to get your own space). Entertaining is tough, and having one person get work done, while the other cooks or watches tv, is difficult. Doable but far from ideal for a couple that actually lives in their home.
By saminthehood on January 25, 2010 4:05 PM
Oh, and as to area. I agree. If you never leave your home, then go live in Forest Hills - plenty of space there and a quick 20 minute E/F ride into midtown. And if you are lietrally home 20 minutes a day, then sure, live in a box like that couple that bought the 100 square foot coop up near Columbia University. But for many adults in this city - its about both. You want to live in a neighborhood that you enjoy walking around every day, where you are near your friends, that is near your park, your gym, amenities, or whatever else is important to you. But you also want to live and spend time in a home that you love being in - and for many that means a decent space for coexisting adults. This is a site about housing, isnt it...
By DeLepp on January 25, 2010 4:08 PM
sam, this LR is also 17 feet wide, most 1 bedrooms lrs were at best 12 feet wide.
If I can manage(as well as mark bittman) to cook for 14 with my 45 sq foot kitchen, this 60 sq foot would be a dream.
By CGar on January 25, 2010 4:16 PM
"m4l, I'm not so sure, that kitchen is bigger and it's an easier climb out to the deck."
Agree with m4l. Your place seems bigger. And nicer.
By saminthehood on January 25, 2010 4:26 PM
You have to look at usable space, which is alot less than the alleged 17 feet - indeed look at the pictures. You need to take into account space for egress by the entryways and doors, which is why the furniture is placed where it is. You have a living room set up, right into the kitchen (which btw, I agree is itself great for cooking). We lived in a layout similar to this, (though the kitchen had a dining bar separating the spaces, which I would advise here) and it was great for me when I lived there alone; but two people, got small quick.
Alot of "lux" condos being built these days similarly limit the living spaces - and they are great for people in their 20s. At some point you need more space. Not all. But for many of us.
By DeLepp on January 25, 2010 4:32 PM
sam, agrred about usuable space. The closet door looks enormous and furniture looks too big as well. If kitchen done right they could have storage space in there as well. Hopefully there won't be a need for a gigantic fridge.
By squaredrive on January 25, 2010 4:36 PM
"I have been in hundreds of one-bedrooms, and this is not large, by any means. "
I don't think anyone would argue that it's large. It's just not particularly small as is being suggested, most 1BRs that I see on the market are around this size - some bigger, some smaller. I've noticed that most 1BRs in new condos are smaller w/ little storage, I agree that those would be tough for couples.
By DitmasSnark on January 25, 2010 5:23 PM
> Lot 2 on 20th Street and 6th Avenue.
Thanks for the tip. I haven't been down that way since the BBQ joint transformed into something else.
By Nomi on January 25, 2010 11:18 PM
"If I can manage(as well as mark bittman) to cook for 14 with my 45 sq foot kitchen, this 60 sq foot would be a dream."
(DeLepp)
Ha, yeah, isn't his kitchen a converted closet or something? I love how he says it's perfectly adequate and it's all anyone needs.
I guess I'm not yet at his level of mastery.
By DeLepp on January 26, 2010 9:24 AM
nomi, cleaning up as one goes along helps, and then there is the bathtub if necessary!
By Nomi on January 26, 2010 11:10 AM
The bathtub, there you go.
By sjtmd on January 26, 2010 6:13 PM
Have been looking for a place in PS for well over a year - a pied a terre for my wife and I. Was primarily interested in an elevator building w/ doorman. This is the first Brownstone unit that has caught our eye. Looking forward to seeing it this weekend. Wonder how it shows "in person" - these pictures are not very revealing.
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If maintenance is $375 per month and 0% is deductible, what are the taxes???