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August 11, 2008
For those who think there are no deals left in Brooklyn
http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1350758
Comments
whoa, this is a pretty sick deal. decent hood, near subway 4 rooms, 350k??? AND its near the flea!! haha
am i missing something here? hidden fees? co-op financial depair?? can someone please explain
Posted by: bktycoon at August 11, 2008 12:31 PM
I think Brooklyn Properties had this listing for AGES, and they were looking to get close to 500K for it. So, I'd guess it needs plenty of work and maybe whoever owns it (I don't think it's a sponsor sale?) needs it to move after sitting around for too long with too high an ask.
Posted by: hangonsloopy2 at August 11, 2008 12:47 PM
It says it's a handyman special, but other than that, I believe the Clinton Hill Co-ops are supposed to be well run. They aren't the most gorgeous buildings in the city, but I still think this is a killer deal. I'd imagine you could put in 50K to this place (just a guess as I've never seen it) and have yourself a really nice small 2 bedroom for 400K.
Posted by: 11217 at August 11, 2008 1:08 PM
Seems market for the building. A friend bought the same layout in 2000 for 65K but in the cluster closer to Myrtle. These have done very well over the last 7 years but the party is over for sure even though the property has been significantly improved since then (grounds, entry booth, etc.). My friend sold earlier this year and after such rapid appreciation was hoping to clear 400K+ but ended up selling at 320K or so. Hers was in ok shape but did not have renovated bath or kitchen.
Posted by: LilBitOfLuck at August 11, 2008 2:02 PM
From what I can tell, LilbitofLuck, 1 bedrooms have been selling for about 350K here.
Not 2 bedrooms like this one.
Posted by: 11217 at August 11, 2008 2:12 PM
This is really a one-bed that has been converted to a two bedroom - the second bedroom is actually the dining area and has no closets. The real two-beds in these coops are selling in the high 400s, though I've recently seen a few on the market for low 500s.
Posted by: mksk at August 11, 2008 4:12 PM
Exactly. My friend's was sold to her as a two but it was really a one with dining room that was converted to kids room. In this case it looks like other modifications were made. In the space between in the room and kitchen my friend's unit had a sort of open pantry/desk area.
Posted by: LilBitOfLuck at August 12, 2008 11:35 AM
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