kdabrowski's Profile
- Kataryna Dabrowski
- '94
- 2005
- Brooklyn
- Prospect Heights
- Condo
- Marketing
- Female
- 36
Author's Posts
June 2, 2008
Renting with Option to Buy
We are in contract on our Brooklyn condo, and are about to make an offer on a house in the "burbs".
We've been city people all our lives, and we're 95% sure this is the right thing to do for our family, however there is still that slight hesitation. So rather than buying the house, we would like to rent it with option to buy in one year.
Do you set the price now, does part of rent go toward the down payment? How does the process work overall?
Thank you.
February 19, 2008
Taxes on resale
Forgive me for being naive. We think we will make about 80K profit on the sale of our condo. We plan to use the money to buy another property, but it may not be immediately, but within a few months? What taxes if any are we obligated to pay?
February 14, 2008
How to check on new development status?
About a year ago a friend of mine went into contract on a unit in a new dev/conversion. Although all units went into contract over a year ago, it looks like there has been no work done in about 6 months. In the meantime my friend is getting no answers from the broker.
Thank you!
February 13, 2008
Mortgage brokers and credit reports?
After raising our credit scores to the mid 700's we're trying to refinance our condo. I have all 3 credit report for myself and my husband. Every mortgage broker I've talked to wants to pull up our credit before they even talk to me further. Is this necessary and will it lower out credit scores?
Why won't the brokers take the reports we've pulled down as a reference in the beginning of the process?
February 12, 2008
Appraisal for duplex with Rec Room
We have a 1277 sf apt. with
700 asf on the ground floor
and 500 asf in a windowed rec. room.
How are these types of units appraised, someone told me the below sf does not count?
October 4, 2007
What are the legal ramifications to adding a shower to cellar/rec room bathroom
First of all why the units with below ground get flamed so much. We purposely purchased a 1200 sf apt with the rec room below ground, which we use as master bedroom with office and sitting area. We did this because otherwise we could not get the square footage for what we could afford. Plus we had the same set up in our brownstone rental which really worked for us.
Our place does not have a full bath in the rec/bedroom, although 90% of new developments we saw did. This is a major pain since we have to use the upstairs bathroom and we now want to ad a shower to this bathroom.
What are the legal ramifications for us and the building?
I know it's not legal, but again, this was one of the only places with this set up that did not have a full bath in the downstairs space. And I really wish the developer just did it like the other ones.
Author's Comments
Before I checked the comps I was going to say the price was crazy. However an 1125sf 2 bedroom on 1st floor closed for 960K in August. A 2000sf unit closed for 1.95K in June.
Which brings me to this: Are comps, even from 3 months ago, insignificant these days? The sale was recorded in August, which means the closing most likely took place in July, which indicates the contract was signed in May/June and the offer made in April/May.
Spring 2008 was a totally different ball game.
Posted by: kdabrowski at November 17, 2008 1:54 PM in response to Condo of the Day: The Ansonia, Apt. 4D
Also, most new developments release units incrementaly over time. For instance they could have released 20 units on the market and sold 10, hence the 50%.
This is a deceptive practice that almost everyone employes in their marketing efforts. To get a better gage, know the number of total units in the building and do your own math.
Posted by: kdabrowski at November 11, 2008 11:55 AM in response to Sales Moving Along at 378 Baltic
What's the rate on a 10/ARM I/A?
We locked in a month ago at 6.25%. Can I re-nogotiage with the bank or am i trully "locked in".
Thanks
Posted by: kdabrowski at September 8, 2008 1:42 PM in response to Interest Rates Are Awesome
At 700sf this place is the size of a average 1 bedroom, and the $785 price is more than the average price per sq foot of the Ore or Toren.
Strickly by numbers this place is overpriced by at least 20%-25%. But from the pictures it does look charming and there are not many 2 bedrooms (however tiny) at this price point in the area. So my quess is it will sell close to ask.
Posted by: kdabrowski at September 5, 2008 3:16 PM in response to Co-op of the Day: 422 State Street, #20
Before you become a broker you have to become a salesperson.
The course is 45 hours and you can do it in a week.
After two years as a salesperson, and with enough documented transactions you can become a broker.
Posted by: kdabrowski at August 9, 2008 1:38 PM in response to The Quickest, Easiest Way To Become a Licensed Real Estate Agent/Broker
Three years ago we got a mortgage in a snap although income lower, FICO lower, and downpayment much lower.
Today, we just sold and are having challenges obtaining a good rate for a new house. My Fico is over 720 but I'm a 1099 now; husband good income but Fico in high 600's and recently changed jobs. This makes us undesirable...we can still get a mortgage it's just the rate is not attractive.
Yes, so I say it's more challanging. However, like previous posters already stated if you have 20% down, FICO score 720+, and have W2s its still a smooth process. Even 10% is ok, you'll just have to pay PMI.
Posted by: kdabrowski at July 17, 2008 1:49 PM in response to Who is trying to get a Mortgage and what problems you are facing?
After 20+ years in brownstone brooklyn (me) we'll be moving to West Orange, NJ in August.
Honestly the move is driven purely by economics. As a middle class family of 4(160HHI) we're struggeling. Pre-School tuition and childcare eat up about 40% of take home pay, mortgage and utilites another 40%, leaving us very little to live on.
Paying the high "burb" taxes is still a quarter of the private school tuition facing us.
We chose West Orange right on the border of South Orange, because it's diverse, artsy, has a great community feeling, is a closer commute than where we are right now, has a good public school system, and most importantly you can get a nice house for 400K. It took us over a year to make this decision, but I think it's the right one for our family.
If we could afford a 3 bed apartment, lived in a good school district or private tuition was not an issue we would absolutely stay.
Am I melonchaly a bit, absolutely. But we can always come back and visit.
Posted by: kdabrowski at July 9, 2008 3:23 PM in response to Leaving Brooklyn For The Burbs
Purely by the numbers:
According to the floorplan, the orange place is 364 sqare feet, so thats $876 per sf.
This is a little high for a co-op but on par with the neighborhood.
I'm going to assume the PH place is about the same size (although it actually looks smaller in the pics), so it's price per square foot is $783, very high for the hood.
To warrent this price tag, the place would have to be about 500 sf feet.
So i say orange.
PS: I live in ph
Posted by: kdabrowski at June 30, 2008 1:26 PM in response to Co-ops of the Day: Head-to-Head Studio Battle
According to the lawyer who represented the buyers, the closing already took place and yes it went for asking.
Posted by: kdabrowski at June 27, 2008 2:45 PM in response to Schloss Connelly In Contract
To guest 3:24. It's entitled smug idiots who make me hate this borough which has been my home for 20 years.
Try 2k a month rent and another 2k for childcare if you have small children.
Posted by: kdabrowski at June 12, 2008 3:44 PM in response to House of the Day: 266 Stuyvesant Avenue
There is a huge need for affordable childcare in all of brownstone Brooklyn, particularily for children under 2.
So far we've lived in Brooklyn Heights, Cobble Hill, and currently in Prospect Heights.
I will speak for Prospect Heights, since we've been here for the last 3 years. There are almost no daycare options for children under 2. Also prices are very high, and cater to mostly non working parents, which kind of defeats the purspose of a daycare.
Please open a nice clean facility, with a caring staff, hours that accommodate working parents schedules, and charge affordable tuition for middle class families ($800-$1000 for full day 8-6:30).
Posted by: kdabrowski at June 4, 2008 1:14 PM in response to child care
OP here. No, we love the house, and its actually being offered as a rent to buy option, as are many of the houses we've looked at.
We're just clueless about the process. Again, when is the price set, can the rent be applied towards the downpayment. However from the responses, it sounds like anything can be nagotiated.
Posted by: kdabrowski at June 2, 2008 2:15 PM in response to Renting with Option to Buy
We came to Brooklyn because of the people, and now we're getting out because of the people. People like the "I make 150K and work in the arts". Statistically your salary puts you in the top 5% of earners. You are blessed and very lucky. There is nothing wrong with making a good living, but why all the gloating.
All this entitlement and judgment. What happenened to all the cool easy going people? Where did you go? We want to follow.
Posted by: kdabrowski at May 16, 2008 5:03 PM in response to Open House Picks
To those of you who are saying brownstones in PH (below Washington) are selling for under 1m please let me know where and where. I will give you a nice commission.
A gut rehab just around the corner from this one went for 1.4 a few months back. Plus PH under is far from a Ghetto, it is the 5th priciest neighborhood in Brooklyn; a diverse community which like many other neighborhoods in experiencing an increase in petty crime.
The only reason i see this going to forclosure is time: it takes time to sell property. An auction usually yields instant results.
Posted by: kdabrowski at May 6, 2008 1:09 PM in response to Foreclosure of the Week: 136 Underhill Avenue
To those of you who are saying brownstones in PH (below Washington) are selling for under 1m please let me know where and where. I will give you a nice commission.
A gut rehab just around the corner from this one went for 1.4 a few months back. Plus PH under is far from a Ghetto, it is the 5th priciest neighborhood in Brooklyn; a diverse community which like many other neighborhoods in experiencing an increase in petty crime.
The only reason i see this going to forclosure is time: it takes time to sell property. An auction usually yields instant results.
Posted by: kdabrowski at May 6, 2008 1:09 PM in response to Foreclosure of the Week: 136 Underhill Avenue
The verification process begins after the winners are selected. Both my mother and aunt won housing lotteries, and
trust me the verification proccess is rigerous and detailed. If the recipient does not qualify another name is selected, and put through the process.
Posted by: kdabrowski at May 6, 2008 12:06 PM in response to 420 Classon Avenue: Waiting for the Lottery Results
We're on Prospect Pl bet Grand and Classon, so not Prime PH and our neighbor just sold his 2 bed 900sf condo for $575,000 in 2 open houses. A 1400sf duplex with very small garden went for 680,000.
I think they may get it, if the apartment is in mint condition.
400's for a 2-bed in PH was a 2004 price tag.
Yes you may find something in this range past Franklin but that's not Prospect Heights.
Posted by: kdabrowski at April 14, 2008 2:29 PM in response to Co-op of the Day: 415 St. John's Place
Every neighborhood has a parent forum. There are yahoo groups like Prospect Heights parents, Park Slope parents, etc. They are most helpful. This is probably not the venue for the topic.
Parkslopeparents.com lists all the groups.
Posted by: kdabrowski at April 9, 2008 3:25 PM in response to Day Care in Bed-Stuy
I live on the Prospect Place block, and all the units have been occupied since January.
The broker lived above me and has moved to California a while back.
So, how come its being reported as just sold now? If there really such a tremendous lag time by the time it's reported?
Posted by: kdabrowski at April 4, 2008 7:15 PM in response to Just Sold in Brooklyn
We just turned our walk-in closet into a bathroom, so the job included plumbing and electrical. We bought all the supplies (Ikea, Lowes, HD) and just paid for labor.
It ended up costing about $6000, but both my husband and I did the labor with the contractor.
Posted by: kdabrowski at April 2, 2008 4:49 PM in response to About how much to renovate small BATH & KITCHEN???
The market is extremely slow. Even for rentals, but I'm told it's begining to pick up again. If you have the time to show the apartment continue to do it by yourself, no one wants to pay a fee.
Posted by: kdabrowski at April 2, 2008 4:24 PM in response to Is rental market soft?
Biff,
If I had this kind of $$$$ this would be a contender. At this price its on par with the other 2 recent sales, and I think it will get it. I've done my research on the building becuase I love it, I just can't afford it.
Posted by: kdabrowski at April 1, 2008 1:39 PM in response to Co-op of the Day: 279 Sterling Place, #1B
This is the 4th price cut. The apt was first listed in June 07 at $1.75M.
It's a beautiful building and great location. However, the average price per sf for a Condo in PH is $560. Co-ops fetch about 20% less. At $600 per sf this place is still overpriced. In addition, it does not look like its in MINT condition, and in today's market to fetch top prices homes need to look like model units or be priced right to move quickly.
Posted by: kdabrowski at April 1, 2008 1:16 PM in response to Co-op of the Day: 279 Sterling Place, #1B
To 7:34. It looks like the listing broker at Corcoran is trying to avoid a co-broke which is against RYBNY regulations. Now, co-ops often do require unlimited amount of backup, but I never heard of a house in Bed Sty.
The only thing I can say in Corcoran's defense, is that lending institution are very reluctant to lend money for properties in "risk" neighborhoods (I live in one). The owner could have gotten burned already and is requiring all the info, but I doubt it.
Posted by: kdabrowski at March 13, 2008 7:56 PM in response to Making an offer
10:57 In early 2006 we bought our 2 bed 1277 sf Prospect Heights condo for 450K.
Today, it was appraised at 600K. I'm glad we took the leap. Also as a family, at that time we bought, with a HHI of close to 200K, we were told we can afford an 800K condo.
I am glad we didn't listen and stuck to our budget, if we didn't we would have lost our home by now (one of us was laid off).
Posted by: kdabrowski at February 28, 2008 11:22 AM in response to As Condo Sales Languish, Builders Slam 421-a Reform
I believe the broker knows as little as us. We all think its a financing issue, that the builder/developer ran out or lost financing. It sounds like the Dept of Buildings is our best bet.
Thank you!
Posted by: kdabrowski at February 15, 2008 11:03 AM in response to How to check on new development status?
I forgot...
Anything over $417K morgage is in jumbo loan territory, and we're being told by lenders they are difficult to obtain without a 20% down.
We live in Prospect Heights and you can still get 1 bedrooms here for that price.
Smokeychimp, if you have a good mortgage broker please post info. here.
Thanks
Posted by: kdabrowski at February 14, 2008 4:13 PM in response to Is 95% financing still possible?
We're in the process of re-financing our mortgage and this is what we have been told.
If you have
1) good income (you do)and are not self employed
2) good credit (700+)
3)low debt to income ratio (28%)
4)fall within a confirming mortage (max 417K for a condo)
....you can even get 100%
However, most sellers want at least 10%... some motivated ones will take 95% financing.
Look into new condo developments, they are sitting on the market longer and are generally more flexible with financing.
Hope this helps!
Posted by: kdabrowski at February 14, 2008 3:59 PM in response to Is 95% financing still possible?
OP here. 2:33 That's what I assumed. Again, I have copies of all 3 credit reports, how inaccurate can they be? I don't want to be giving away my SS. while shopping around.
I don't remember this happening the first time around, but perhaps with the stricter mortgage guidelines, this has become a standard procedure.
Posted by: kdabrowski at February 13, 2008 4:36 PM in response to Mortgage brokers and credit reports?
Approx. 690 sf. What are you being told?
Posted by: kdabrowski at January 31, 2008 1:25 PM in response to Help with calculation of square footage
I live on the block of the 3rd house/apt. It's between Grand and Classon and officially this is Crown Heights, although both the newcomers and the old timers on the block call it Prospect Heights.
Posted by: kdabrowski at January 30, 2008 2:04 PM in response to Just Sold in Brooklyn
The challenge is the maximum loan amount of something like $280K. Not a lot of buying power, but you can still get a co-op in the boroughs. Another program is the SONYMA, which I believe offers even lower rates, but again the maximum loan amounts are not high, and you have to buy in designated target areas.
Posted by: kdabrowski at December 3, 2007 11:16 AM in response to What's the story with an FHA loan?
Several of my relatives live in subsidized housing, almost none have a low or moderate income now (some make 100K+). They were able to obtain the subsidized housing because at the time they were making very little money. For example one cousin was waiting tables while getting his MBA.
It is my understanding once you're in, you're in. I had the opportunity to do the same (8 years ago), but didn't want to live in what I considered then a less than desirable area (Exchange Place in JC). You live and learn.
The building has about 300 units: I estimate 80% are occupied by middle to upper middle income level families.
Very few are truly needy and deserving of the
$600 rent for their 1200sf 2 bedroom apartments with Manhattan views.
Posted by: kdabrowski at November 26, 2007 11:56 AM in response to Stopping Big Rent Hikes at Ex-Mitchell-Lamas
It seems to me most of you are not actively pursuing a rental property right now. These prices are right on the mark, unfortunately.
A friend listed their 2 bed 800 sf" brownstone floor-through in Crown Height for $2100, and we all thought he was crazy. Guess what? He rented in 1 day.
A 2 bed listing in PS for $2400 is most likely not in PS, or a teaser ad. Of-course sometimes you can get lucky, especially in the bigger rent subsidized buildings.
Posted by: kdabrowski at November 21, 2007 1:55 PM in response to Rentals of the Day: Boerum Hill 2-bedroom Edition
In our case the information on propertyshark is incorrect. Its higher by about 30K. Anyone know how that could happen.
Thanks
Posted by: kdabrowski at November 20, 2007 5:13 PM in response to I don't want friends and family knowing how much I paid for my condo
I saw the place: it's garden level and cellar, and the actual garden is included in sq footage.
Posted by: kdabrowski at November 19, 2007 1:59 PM in response to Condo of the Day: 163 Washington Park
1:33 is right this is a garden level and basement (cellar). The lower level has a dug out (sp) made into a small patio. On the garden level you have to walk a bridge over the dug out patio to reach the garden.
On Park Place bet Wash and Underhill, an almost identical layout but at 1700 sf was listed for 795K. Also a brownstone conversion.
Posted by: kdabrowski at November 19, 2007 1:55 PM in response to Condo of the Day: 163 Washington Park
Clinton Hill proper (I don't live there) is not a fringe neighborhood, not even up and coming, however the Clinton Hill loft is not technically in Clinton Hill but in Bed-Sty. Hence the $1.5mm price seems really steep. But some people like industrial (this area is very), and that's a lot of square footage.
Posted by: kdabrowski at November 17, 2007 12:38 PM in response to Open House Picks: Apartments
Only one of the top 5-performing Brooklyn elementary schools received the grade A.
Here are the schools and their grades:
2006 rank based on test scores only
#1. PS 229 Dyker School B
#2. PS 195 Manhattan Beach B
#3. PS 277 Gerritsen Beach C
#4. PS 236 Mill Basin A
#5. PS 321 William Penn B
Since the methodology measured improvement over the previous year, good solid schools got penalized. By no means should this report be used as a guideline.
Posted by: kdabrowski at November 6, 2007 5:56 PM in response to PS 321 losing its luster?
How can one apply for one of these apartments?
Posted by: kdabrowski at October 26, 2007 10:04 AM in response to FAC’s Red Hook Homes Near Completion
We pay $237 a month. The building has 8 units...about 10,000 -12,0000 sf in total. A maintenance person comes twice a week. This was average for a small building with no amenities.
Posted by: kdabrowski at October 26, 2007 10:03 AM in response to Who manages a condo building?
We live in a small 8 unit condo. The building is maintained by a management company the developer selected. Since everyone is relatively happy with the upkeep, and the monthly fee is low we'll continue with the original company. It is my understanding we have the ability to choose a new one when desired.
Posted by: kdabrowski at October 25, 2007 1:22 PM in response to Who manages a condo building?
Thank you for your reply. So how did all these buildings get permits to do so, and pass inspection? Some had master baths with fancy tubs and separate showers.
We're not flippers, but we do want to sell in a couple of years and I don't want this to have negative impact.
Posted by: kdabrowski at October 4, 2007 7:07 PM in response to What are the legal ramifications to adding a shower to cellar/rec room bathroom
Is that 50% of gross or net income? This always confuses me because almost everyone I know pays close to 50% of their take home pay for housing.
I'm glad they are building affordable housing and I really hope it goes to truly deserving families and not ones that simply work "off the books".
Posted by: kdabrowski at October 3, 2007 11:18 AM in response to Habitat for Humanity Wrapping Up on Halsey
I've wondered about that myself, however this is true not just of this building but many of the new constructions around PH.
According to my broker neighbor, they start selling before the building is complete and has all the permits. For instance when I checked out the open house, they were showing one model apartment. In addition there are many inspections to pass and permits to obtain.
The Washington is a prime and extreme example of this. We went to an open house in what seemed like an almost complete building back in 2004. It seems like people just started to move in a few months ago.
Posted by: kdabrowski at October 2, 2007 11:18 AM in response to 647 Washington Ave
The reason some of us didn't buy back when, is because we were in High School or Collage, and now in our early 30's making a 100K gets you very little. Having said that I did buy 2 years ago, although did have to say farewell to my beloved Cobble Hill and buy in a more up and coming neighborhood.
Posted by: kdabrowski at September 28, 2007 5:20 PM in response to Open House Picks
You'll need to put in another 200K to 323 Prospect Place to make it habitable. It actually looks much better from the outside than it does inside. There is no backyard, and the side yard which is used as a parking space offers no privacy.
The 1st floor has a small extension so its a bit more specious, the top two floors are pretty shallow (35 tops). So the whole gross square footage is not much over 2000 sf. Everything needs to be renovated.
Larger prettier brownstones on better streets are going for about 1.5. A house similar in size and appearance on Pacific street sold for just a little under 1 mil. I think they are trying to cash in on the "uniqueness" of the property.
Posted by: kdabrowski at September 28, 2007 2:37 PM in response to Open House Picks
Responses to Author's Forum Comments
Wasder,
We're in slightly different boats. First of all, I breath, eat, and sleep real estate investing. My desire to have a Brownstone in Brooklyn is not necessarily as a primary residence, though I would live in it for a while. I can't overpay because I may want to sell the house for a profit a few years after renovating it.
Of course I could be wrong, but I doubt it. Too many high paying jobs are being lost -- the kinds that afforded million dollar plus properties, at the same time as the mortgage crisis is decimating the housing market.
In the long term it won't matter, so I'm sure when you sell years from now, you'll do fine. But as a potential short term buyer, I'd rather err on the side of extreme caution and buy something I can easily afford, so if the downturn continues unabated, I can still move to another country, and not worry too much about the Brooklyn Brownstone I'm on the hook to HSBC for.
Posted by: IronBalls at November 21, 2008 12:51 AM in response to Advice for a Freaked Out Apartment Seller
Agreed none of us know what will happen, I do think the economy will be bad for about ten years, and yet I do not think Brooklyn prices will drop substantially more than they already have. I don't know, could be a pipe dream. But people really want to buy in Brooklyn, crime is down...prices didn't fall that far in the Bay Area in 1989, dunno. Then again, if this is the beginning of the fall of Rome, then I guess that's a whole different thing. Although prices are still high in Rome also.
Posted by: mopar at November 21, 2008 12:53 AM in response to Advice for a Freaked Out Apartment Seller
Yeah, but just because "people really want to buy in Brooklyn" doesn't mean they're able to. Lending requirements are already much more stringent then they were just a few months ago.
And even if "people really want to buy," as they watch prices tumble their brains are rethinking the way they think about real estate. Before they thought they had to get in before the market went even higher. In a short time common logic has changed to "wait and see. . . what's the rush because prices keep going lower?"
The roller coaster ride continues. That's for sure.
Posted by: IronBalls at November 21, 2008 8:55 AM in response to Advice for a Freaked Out Apartment Seller
I agree with the idea of putting some things into storage. It looks like the dining room is an eating/office space-- I'd try to make it just a dining room. Also, even if the apartment is small, a floor plan with dimensions would help. The listing really gives no indication of how large the apartment is, which is always a red flag to me.
This may be more that you want to take on, but if I were to live in this apartment, I'd probably flip the dining and living rooms-- the dining room looks bigger and has more light. Finally, when I was going to open houses for top/high floor apartments, sometimes I'd have to walk past three floors of cluttered hallways vestibules (squeezing by boots, jackets, kids toys to get to the next floor). Put yourself if the shoes of a buyer next time you enter your building-- that can make a difference. If you neighbors have a lot of things outside their doors, perhaps they can move them in for the open house.
Posted by: fawn at November 21, 2008 10:04 AM in response to Advice for a Freaked Out Apartment Seller
There are always people looking to sublet on the bococa parents listserv -- I know with 2 kids you are familiar with it. and they're always "professor and family need to sublet for year" etc. Seem as reliable as anyone.
I think you should do that. Nobody is buying now. It's just too weird out there. In a year, it may be worse, but it will sell.
Or move on with your life. MOve out and hand keys to an agent. I personally like looking at empty apartments.
Posted by: Ringo at November 21, 2008 11:26 AM in response to Advice for a Freaked Out Apartment Seller
I agree with the idea to flip the dining and living room. When I lived in an identical apt, we painted the dining room (middle room, no windows) a medium color with white woodwork and a modern white light fixture and had bookshelves lining it. It looked quite nice.
Posted by: mopar at November 21, 2008 11:28 AM in response to Advice for a Freaked Out Apartment Seller
The stock market and the housing market are not comparable, at least on a historical basis. The stock market has a histtory of volatility, with 5-6 periods where the market declined in the 50% range during the last 80 years. Housing may have done that once (in the great depression). Trading costs on stock are low, making it easy to get in and out. Transaction costs on houses are very high, making them less liquid.
Posted by: Boerum Hill at November 21, 2008 11:52 AM in response to Advice for a Freaked Out Apartment Seller
When was the priced reduced to $475,000? It's listed at $569,000 on streeteasy. (And if streeteasy is wrong, that's not helping you either.)
http://www.streeteasy.com/nyc/sale/356464-coop-588-henry-street-carroll-gardens-brooklyn
According to this link, the price on this place was reduced to $569,000 2 weeks ago. Unless that info is incorrect, it's misleading to suggest that this "won't sell" if it has been reasonably priced for less than 2 weeks.
This post just seems like creative real estate advertising to me - getting everyone worked up about how a great place 'won't sell' at a reasonable price.
Posted by: squaredrive at November 21, 2008 12:39 PM in response to Advice for a Freaked Out Apartment Seller
2 months is not unusual! It's not time to panic the seller yet. It took a little over 2 months to sell our 2BR coop in Park Slope, back in Fall of 2006. And it was larger than this place. I don't think this apartment has to go much lower in price than it is now. Do NOT simply put "Make Offer" on the listing. Worst idea ever. You'll never sell it, you'll look like there are major problems with the property and nobody wants it.
Here's the problem to me as it breaks the major rule in real estate that all your rooms should be shown with clear identity and purpose:
The room that is a dining room AND an entry foyer AND an office with file cabinets has got to be totally cleared out and become just a dining room. If you need to store away your laptop in the closet and work on the dining room table when people aren't seeing the house, that's what you have to do. But get rid of the desk. Get rid of the coats hanging on the wall.
Having a room that's cluttered and so multi-purpose like that only shouts to buyers "there's not enough room here". I would get very anxious and turned off stepping into that room as a buyer.
Posted by: traditionalmod at November 21, 2008 12:48 PM in response to Advice for a Freaked Out Apartment Seller
P.S. in addition to the desk you also have to get rid of those file cabinets in the dining room. They're huge and make the room seem tiny. Hang pictures on the wall instead. It really does need to show as a dining room. Once the office is gone you could switch the living room and dining room, too. Which is probably the original layout, right? I think the biggest mistake people can make is showing their home in an unusual way THEY used the rooms and the space. You need to show a place with its rooms arranged as they are intended to be.
Posted by: traditionalmod at November 21, 2008 12:54 PM in response to Advice for a Freaked Out Apartment Seller

Hang in there. This price is a steal and it will happen.
We lived around the corner before we bought in "fringe" part of Prospect Heights, and the location is amazing.
Two months on the market is not long in today's climate.
The only thing the floorplan does not give dimentions, and the place looks tiny in the pictures. If it is bigger than 800sf you should state the square footage.
Good luck.
Posted by: kdabrowski at November 20, 2008 5:20 PM in response to Advice for a Freaked Out Apartment Seller