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July 30, 2009
Condo/Coop
I am looking to purchase a 1-2bed apartment in the Prospect Heights, Crown Heights, Clinton Hills or Fort Greene areas of Brooklyn. My budget is 200K.Where would be the best place to look? I've seen a 2bed for $299k @14 Butler Place, ideal except for price.Help!!!
Comments
Not going to happen, unfortunately.
The cheapest thing you will find would be a studio for probably 200K - 250K or so in those areas. You might find a 1 bedroom for that price down in Kensington though.
For a 1 bedroom in the areas you mention, 300K is about the cheapest you will find.
Posted by: 11217 at July 30, 2009 12:52 PM
I would wait and keep saving for a bigger downpayment.
If prices keep coming down, you might be able to find a nice place you can afford soon.
If prices stop going down, you will at least be building up more savings to help you eventually get your place.
If you don't already live in one of those neighborhoods, you could rent there and get to know the place well and keep an eye on the bigger coop/condo buildings so you know what they are selling for and what they have available.
Posted by: northsloperenter at July 30, 2009 1:02 PM
If you're willing to head down to Bay Ridge, there are 1-bedroom apartments at your price point:
$199k
http://newyork.craigslist.org/brk/reo/1296997847.html
$209k
http://newyork.craigslist.org/brk/reb/1296630071.html
Posted by: setancre at July 30, 2009 1:10 PM
if you're looking for a massive 1 bdrm or legit but not massive 2 bdrm, Crown Heights stands the best shot among the hoods you listed.
good advice from above posts to not rush to buy now cause prices have not stopped falling so renting gives you the time to see if hood is to your liking plus time to monitor the mkt
Posted by: more4less at July 30, 2009 1:14 PM
Thanks everyone for your responses. I actually have lived in the Crown Heights area for about 15 years. To my amazement, the area has changed DRASTICALLY. There was a point when I would never have considered purchasing here, but that is my loss and I could kick myself now. I am currently on Franklin Ave. The surrounding areas have a few condo/coop developments going up, but are out of my price range. I have looked in other areas of Brooklyn, but I kinda like my neighborhood now.
Posted by: charise at July 30, 2009 1:36 PM
Bay Ridge - 179k for a 650 SF 1 bedroom. low maint. too
http://www.citi-habitats.com/viewsales.php?adID=891544
Posted by: guikazoid at July 30, 2009 3:53 PM
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