Co-ops
March 26, 2008
Co-op of the Day: Concord Village One Bedroom
At least this broker gets points for honesty! "APT NEEDS A GUT RENO," blares the headline for the one bedroom at Concord Village in Downtown Brooklyn. Given the condition, the asking price of $359,000 for Apartment 12H may be a little optimistic; after all, 7H sold for $340,000 in 2006 and 6K sold for $365,000 in 2007. Then again, it's only $4,000 more than the current owner paid back in 2005 and $54,000 less than this one-bedroom in the complex fetched in early 2007.
Concord Village 1 BR [Craigslist] GMAP P*Shark
Concord Village Giving Associated the Boot? [Brownstoner]
Photo by olivermj_697
March 18, 2008
Co-op of the Day: 75 Henry Street
We've heard of places fetching $1,200 a foot in Brooklyn Heights but not on Cadman Plaza! For some reason, someone (either the owner or the broker) thinks that this 800-square-foot post-war two bedroom will fetch $960,000. This makes no sense to us at all, especially when you can get what looks like a larger two-bedroom on the top floor of a more attractive building on Orange Street for just a few bucks more. What's up with that?
75 Cadman Plaza West [Century 21] GMAP P*Shark
March 10, 2008
Co-op of the Day: Price Cut at 35 PPW Whopper
Brooklyn's most expensive co-op just got a little cheaper. After languishing for nine months at its original asking price of $6,500,000, the five-bedroom duplex at the top of 35 Prospect Park West in Park Slope has just been reduced to $5,750,000. The maintenance on the 3,500-square-foot pad is a $4,241, a hefty tab until you consider the 2,300 square feet of outdoor space that comes with the deal. Whether this reduction will be enough to attract the right flush buyer is anybody's guess. Meanwhile, we can all dream.
35 Prospect Park West Penthouse. [Corcoran] GMAP P*Shark
35 Prospect Park West Penthouse. [Brown Harris Stevens]
Co-op of the Year? 35 Prospect Park West [Brownstoner]
March 6, 2008
Co-op of the Day: 81 Ocean Parkway
Why are sponsors so consistently incapable of doing a sensitive renovation? A coat of white paint, a few gallons of polyurethane and a Home Depot kitchen and they're done. At least in the case of this three-bedroom, two-bathroom place at 81 Ocean Parkway in Kensington the apartment had some good bones that even a sponsor couldn't mess up. And given the asking price of $575,000 (and low monthly maintenance of $743), we bet buyers will be willing to swallow that eyesore of a kitchen.
81 Ocean Parkway [Brooklyn Properties] GMAP P*Shark
March 5, 2008
Co-op of the Day: 210 Congress Street
The 114-unit co-op at 210 Congress Street in Cobble Hill is pretty unremarkable as far as prewar buildings go, but it's perfectly nice and in a lovely location. The scale of the windows and ceilings are a little blah, but we're liking the layout of this two-bedroom. The asking price of $750,000, however, is definitely on the high side for the building. After all, only one apartment in the building has every sold for more than this amount. Think this one has a shot?
210 Congress Street [Douglas Elliman] GMAP P*Shark
March 3, 2008
Co-op of the Day: 160 Henry Street
This co-op at 160 Henry Street in Brooklyn Heights ain't for the faint-of-pocketbook. Even if you decide that the $3,250,000 asking price makes sense for this five-bedroom prewar pad, you're still going to have to find a way to come up with 50% of that in cash. Building rules, sorry. (While it's a high barrier to entry, it's also part of the reason you won't see a whole lot of foreclosures in co-ops like this.) No square footage stats are provided, but given that the monthly maintenance is a cool $3, 845, you gotta figure it's at least 3,000 square feet, right? Before you start guffawing, keep in mind that a unit on the eighth floor sold for $2,745,000 last summer and financing won't be an issue given the high downpayment.
160 Henry Street [Brown Harris Stevens] GMAP P*Shark