January 22, 2008

Foreclosures of the Week

There are two interesting co-op foreclosure auction scheduled for tomorrow morning. First off, unit 8F at the 13-story, prewar 40 Boerum Place is going on the block. There’s currently a lien of $327,669 on the property, which sold for $420,000 in 2005. There’s also an auction scheduled for unit 6A at 381 Argyle Road in Flatbush (a block away from Ditmas Park West). The unit has a lien of $78,586 on it, and it last sold for $89,610 in 2005. The Argyle Road auction is scheduled for 11 a.m. tomorrow on the steps of 360 Adams Street; the Boerum Place auction will follow at 11:30.
40 Boerum Place, Unit 8F [Property Shark] GMAP
381 Argyle Road, Unit 6A [Property Shark] GMAP

Posted by Gabby at 11:00 AM | Comments (13)
Categories: Boerum Hill, Co-ops, Flatbush, Foreclosure

January 21, 2008

Co-op of the Day: 450 Clinton Street Triplex

At first blush, we were excited by the double-height arched ceilings on this two-bedroom in the old church at the corner of Clinton and First Place and thought that the asking price of $899,000 seemed reasonable. When we looked a little closer at the photos, the finishes struck us as a disappointment given the impressiveness of the structure itself. When we went back to an old thread about another apartment in the building, that sense was underscored by a commenter:

I used to rent in this very building. While I loved many things about it, the details and finishes always bugged me a little. The conversion was just done a little shoddy. The walls and floor/ceilings are paper thin.

How 'bout it? Worth the dough?
450 Clinton Street [Brown Harris Stevens] GMAP P*Shark

Posted by Brownstoner at 12:37 PM | Comments (9)
Categories: Carroll Gardens, Co-ops

January 9, 2008

Co-op of the Day: 147 Prospect Park Southwest

We think this prewar two-bedroom co-op at 147 Prospect Park Southwest is looking like a decent buy at $574,000. The sponsor unit has beautiful parquet floors, beamed ceilings and stripped wood moldings; it also has a separate dining area. In addition, the monthly maintenance of $727 seems reasonable for a 1,000-square-foot space. Too bad the sponsor put in such a crap kitchen though.
147 Prospect Park Southwest [Orrichio Anderson] GMAP
147 Prospect Park Southwest [NY Times] P*Shark

Posted by Brownstoner at 12:39 PM | Comments (50)
Categories: Co-ops, Windsor Terrace

January 8, 2008

Co-op of the Day: 110 Hicks Street, Reduced

Even blue chip nabes get the blues. This duplex in the brownstone at 110 Hicks Street in Brooklyn Heights was on the market with Citi-Habitats in late 2006 along with the apartment above it for a combined $2,850,000. It didn't sell at the time, and the units showed up separately (with the option to combine) this fall. The larger, lower duplex was originally asking $2,400,000. After two months of no takers, however, the asking price was cut to $1,990,000 right before Christmas, bringing the combined price basically back to where it was in '06. Here's what we said about it at the time:

Granted it's in prime Brooklyn Heights and the interior is nothing to sniff at, but it doesn't have that somethin' special (over-the-top historic detail, for example) that we think you need to justify that price in this configuration. We think it's going to be hard to find someone with that kind of dough who wouldn't prefer his own house.

Don't see any reason why that logic wouldn't still hold.
110 Hicks Street, Unit 1 [Douglas Elliman] GMAP
110 Hicks Street, Unit 2 [Douglas Elliman]
Co-op of the Day: 'Spensive on Hicks [Brownstoner]

Posted by Brownstoner at 12:39 PM | Comments (43)
Categories: Brooklyn Heights, Co-ops

January 7, 2008

Co-op of the Day: 801 Union Street #2

The owners who are selling this second-floor co-op at 801 Union Street claim that the offering price of $825,000 is less than all the brokers who keep calling them say it's worth. We'd agree. We suspect most brokers would be trying to pawn this two-bedroom off in the high $900,000's. Given the location (steps from Union Market) and the charming original detail, $720 a foot seems like a good deal to us, especially since the maintenance is only $636. Would you agree? Anyone make it to the open house yesterday?
801 Union Street [FSBO] GMAP P*Shark
Facade photo by Kate Leonova for Property Shark

Posted by Brownstoner at 12:37 PM | Comments (91)
Categories: Co-ops, Park Slope

January 4, 2008

Co-op of the Day: 80 Winthrop Street

You don't see a lot of apartments these days for under $200,000, which is why this studio at 80 Winthrop Street in Prospect Lefferts Gardens caught our eye. The 500-square-foot space has some prewar charm and a new kitchen which won't be in Architectural Digest anytime soon but look perfectly nice for the asking price of $113,295. So waddya think? Is $225 a foot a deal in this location? BTW, there's an open house on Sunday from 3 to 5 p.m.
80 Winthrop Street [Brooklyn Heights RE] GMAP P*Shark

Posted by Brownstoner at 12:42 PM | Comments (29)
Categories: Co-ops, Prospect Lefferts Gardens

January 3, 2008

Co-ops of the Day: 167 Sands Street

Here's an interesting one. We've long admired the beautiful turn-of-the-century eight-story building at 167 Sands Street. We'd noticed the chinese lettering on the exterior but had never considered that it might be a co-op. Turns out the 120,000-square-foot building was divided into 120 apartments, possibly as recently as 2004. All the names in the public records relating to the building look Chinese. And here's the kicker: The asking prices look absurdly low. Granted, the building is wedged between the BQE and the projects, but still, $280,000 to $315,000 for a two-bedroom with outdoor space in a prewar building with monthly maintenance under $600? Even if these are unusually small two-bedrooms, the prices still seem too good to be true. Anyone got the straight dope on this one?
Sands Street 2 Bedroom [GMAC] GMAP P*Shark DOB
167 Sands Street Listings [StreetEasy]

Continue reading "Co-ops of the Day: 167 Sands Street"

Posted by Brownstoner at 12:42 PM | Comments (29)
Categories: Co-ops, Downtown Brooklyn

January 2, 2008

Co-op of the Day: 10 8th Avenue

Prime, baby. Prime. This parlor-floor two-bedroom at 10 8th Avenue in Park Slope has a lot going for it: Original detail, high ceilings, new kitchen, convenient location. As best we can figure, it's probably about 1,200 1,500 square feet or so (the bottom two floors have a 15-foot extension), which puts the asking price of $1,250,000 around the $1,000 $825 per square foot mark. The top floor unit, which must have lower ceilings and may have a smaller layout depending on setbacks in the rear, sold for $865,000 in the summer of 2006. The most similar listing we can recall was the parlor-floor unit at 101 8th Avenue that Warren Lewis had listed for $995,000. Think $1,250,000 is stretching it?
10 8th Avenue [Brown Harris Stevens] GMAP P*Shark

Posted by Brownstoner at 12:52 PM | Comments (65)
Categories: Co-ops, Park Slope