Muffet - undoubtedly there are more open houses this weekend (even in the $800k range) -- but these are the Brownstoner picks of the week. Kinda sad.

I want to soften my comment though, the place on 21st Street is just borderline depressing. The back yard is nice and cheery looking. That wins points.

Posted by: tybur6 at November 20, 2009 2:07 PM in response to Open House Picks

NK, I think the required ratio is only 1.75 toilets per *potential* inhabitant (max # of sleeping spots) -- then it can be considered adequate. 2.00 per person to call it luxury.

Posted by: tybur6 at November 20, 2009 1:47 PM in response to Open House Picks

I'm here... Totally agree about the financials of the Garfield place. It doesn't have a clear "This is my awesome home -- oh, and I happen to have a rental" sort of thing going on to justify a $10,000/mo mortgage + taxes payment. You'll be subsidizing your renters living in the same conditions you are...

That being said, this is FINALLY an example of a tax rate in Brownstone Brooklyn that I have no problem with.

Also, are these really the Open House picks this week? Ugggh. Pretty depressing if you ask me. If $800,000 was my budget and you presented these 2 properties to me as top picks for this weekend -- aargh. I'd seriously have to start looking at moving to Buffalo.

Posted by: tybur6 at November 20, 2009 1:37 PM in response to Open House Picks

That photo is creepy to me... like a little kid was abducted. if it was part of a movie, the next shot would be empty swings still swinging with scary music.

Posted by: tybur6 at November 20, 2009 1:27 PM in response to Friday Links

The pleasure of having to use a toilet for sit-down purposes in a bar (most bars) is probably only trumped by the idea of using a *bidet* in a bar....

Posted by: tybur6 at November 20, 2009 1:23 PM in response to Viridian Two-Thirds Rented

DIBS - they could use real bricks and some other nice bits, then charge $800 sq ft -- and then not sell BECAUSE IT's EAST WILLIAMSBURG! Compare this to the Veridian in 'effing Greenpoint. This developer actually seemed to know how to make a profit AND sell at normal/reasonable prices (relatively speaking). If you didn't figure it out, I was being facetious above about "How did the developer make any money?!" They made money by being smart and not living in la la land like all of the "luxury" high-rises and such.

In other words, I like the "fake brick curtain"

Posted by: tybur6 at November 20, 2009 11:52 AM in response to 868 Metropolitan Sells Out in Less Than Two Months

Yeah -- I have to agree frsq. With the renovations of the west end of the park (which is grrrreat), I'm not sure what's wrong with the park now. It seems pretty much perfect. The playground toys seem like they're fun for the kiddies and there are various other amenities that seem adequate. Maybe some cheap renovations/fixes like a replacement bench or two.

The money could be spent somewhere else that doesn't have anything.... but Park Slope folks are noisy, squeaky wheels so they're getting the renos.

Posted by: tybur6 at November 20, 2009 11:46 AM in response to Plans for J.J. Byrne Park in the Slope Unveiled

kvnblyn -- Leasing agents lying?! Say it ain't so!!!

But these places and prices are perfect for a 'creative professional' -- right?

Posted by: tybur6 at November 20, 2009 11:43 AM in response to Viridian Two-Thirds Rented

I like the look of this building... too bad it's in (east) Williamsburg. :-)

Posted by: tybur6 at November 20, 2009 11:27 AM in response to 868 Metropolitan Sells Out in Less Than Two Months

Yeah, my buddy lived near "Pumps" and he said he was VERY happy that he was already shitfaced when he wandered in there one night. Apparently the entertainment and sobriety don't mix well.

But back to the property. I don't understand. How did the developer make any money?! I thought they had to charge $700-1000 per square foot for this level of quality and "luxury" living... Did $400 per sq ft even cover their costs?!

Posted by: tybur6 at November 20, 2009 10:03 AM in response to 868 Metropolitan Sells Out in Less Than Two Months

Oh my god... the Fiberama TV ads are parts of the reasons I haven't cancelled my cable. Seriously, I effing love that family. Especially the son that wears the Hanes t-shirt and the customer that awkwardly lists off keywords.

Love it!

Posted by: tybur6 at November 19, 2009 4:18 PM in response to Development Watch: Turnaround at 424 Waverly Avenue

These sorts of maintenance levels can't be sustained or even continue to increase, can they? How does a co-op corporation go bankrupt? What happens to the tenants and their leases that cost them $370,000?

Would a bank actually provide financing for a tiny unit like this with crazy monthlies?

Posted by: tybur6 at November 19, 2009 1:46 PM in response to Co-op of the Day: 150 Joralemon Street, #5F

As a follow-up, I'd say $1 million or *maybe* $1.1 million makes sense. Anything more than that, you'll be running a major deficit for a long time... that just gets worse if you have to put any money into the building (roof, windows, plumbing problem).

Posted by: tybur6 at November 19, 2009 1:33 PM in response to House of the Day: 540 Bergen Street

I know you guys don't like me bringing this up -- but a 3-family building is more of a business than it is your house that "happens to have a rental unit."

20% down, 6% mortgage, and $200/mo taxes. The average per unit income would have to be around $2400 each -- JUST to cover your nut. Never mind utilities, fuel, maintenance, etc.

They state that 2 units are renting for $2100.

Please explain how this is a good investment? Or is it an attractive situation to spend basically $5000+ on your 2-bedroom apartment and subsidize your tenants?

I don't get it.

Posted by: tybur6 at November 19, 2009 1:31 PM in response to House of the Day: 540 Bergen Street

Has anyone tried the little magic "Monthly Costs Calculator" for this sweet pad? 20% down and, say, 6% interest... it's almost $2,800 a month!

In commercial real estate rental terms, that's $82 per sq ft. Not terrible if you had good traffic, a corner storefront, and could sell burritos or high-end sneakers!

(Actually, this might be too small for a sneaker shop.)

Posted by: tybur6 at November 19, 2009 1:15 PM in response to Co-op of the Day: 150 Joralemon Street, #5F

Umm... it's not even a "glorified studio" -- It's just a studio. And a whopping 400 sq ft of one too!

What's the maintenance then? $2.50 per sq ft?! Really?

There must be a guy giving gum jobs in the elevator, right?

Posted by: tybur6 at November 19, 2009 1:07 PM in response to Co-op of the Day: 150 Joralemon Street, #5F

Bay Ridge Link: http://www.streeteasy.com/nyc/sale/439755-coop-345-bay-ridge-parkway-bay-ridge-brooklyn

Posted by: tybur6 at November 19, 2009 1:01 PM in response to Brooklyn Sales: Under a Million

I'll admit that I'm a dick, Dirty Hipster (slow reaction time today)... though I may not be getting that much pleasure out of this situation. I like to exaggerate.

HOWEVER -- I have very little sympathy for folks that paid $1.7 million for something, proceeded to GUT the insides and planned on creating some sort of product that would produce profit at the end -- let's assume they weren't going in as "flippers" (I buy that)... but they still expected a return on their investment.

This is what I find crazy. DIBS and the like wants to paint them as victims of sorts, but that's the problem... They are the CAUSE of this insanity. By BUYING the house at that price AND then gutting it with the clear intent of, probably, doubling the value -- well, that's TOTALLY off the "rational thought grid"!!! Simple as that.

I am enjoying a small amount of Schadenfreude here, but really... truly... I hope this is a serious wake up call to everyone dropping millions on crap (or at least mediocrity) expecting to create millions of gold. The market seems like it's *finally* starting to stop tolerating this stuff.

(My personal goal is for this wake up call to trickle down into the rental market... Little things like landlords maintaining levels of quality slightly above 'crap hole' and folks that buy houses realizing that their garden-level 1-bed rental is not worth $2800.)

Posted by: tybur6 at November 19, 2009 12:19 PM in response to 150 Bond Finally Sells—For a Loss

I would agree that they are not "evil boogeymen" -- they are just people that didn't check in with rational thought before dropping enormous amounts of cash... and did nothing but buttress the rest of the irrational (and clearly unsustainable) housing market. I'm glad they were slapped HARD. Maybe it will make others think twice before dropping millions on mediocrity.

Posted by: tybur6 at November 19, 2009 10:39 AM in response to 150 Bond Finally Sells—For a Loss

I have to agree with stevieb's sentiment here... though I disagree with the use of asterisks. If you're gonna say it, you have to commit!!

I have a serious case of the ol' Schadenfreude when I see things like this. I like to see when reality slaps someone in the face, hard -- but that's just me.

Posted by: tybur6 at November 19, 2009 10:25 AM in response to 150 Bond Finally Sells—For a Loss

Wait... Romex wasn't up to NYC building codes until last year?!

And what did drain pipes have to be made from, cast iron? Was lead pipe still an acceptable option for water lines too?

Posted by: tybur6 at November 18, 2009 5:42 PM in response to Cost of Bathroom in Basement

"hire an architect to submit plans and DOB"

Are you effing kidding me?! We're talking about a dumb bathroom and some non-structural walls-- No offense to your profession Mr. Jim Hill or the ridiculous City of New York -- but I'm thinking he should spend the money on a good plumber and electrician instead.

DIBS -- you know I'm pretty much a bleeding heart liberal, but this seems like a "make work" system for Architects and Engineers... am I right?

Posted by: tybur6 at November 18, 2009 4:02 PM in response to Cost of Bathroom in Basement

This building definitely needs windows.

Posted by: tybur6 at November 18, 2009 3:13 PM in response to Development Watch: 169 16th Street

DIBS -- Do you make fudge? Yum! I like fudge with nuts. :-)

Posted by: tybur6 at November 18, 2009 2:12 PM in response to Open Thread

Seems like you need to review more than the financials when you buy into a "full service" co-op.

"Yes, before we continue with this purchase, I'd like to, of course, review the last few years of the building's expenses -- oh, and I'd like to have the handyman complete these three tasks."

Posted by: tybur6 at November 18, 2009 2:08 PM in response to Faucet-Installing Mom Update

Maybe they *are* tombs... bwahahaha!

Posted by: tybur6 at November 18, 2009 1:36 PM in response to Atlantic Terminal Station: So Close!

Rob - it's the same as living in your 6-person shares... just fewer bean bags.

Posted by: tybur6 at November 18, 2009 1:12 PM in response to Co-op of the Day: 85 8th Avenue, #3R

I am usually very negative about prices like this -- and i definitely can't afford this place. But I would give up my right nut to have a bay window sitting area like that (and a deck to boot, ahhhh!)

Anyone want my right nut for, say, $400,000?

Posted by: tybur6 at November 18, 2009 1:04 PM in response to Co-op of the Day: 85 8th Avenue, #3R

Cobble - it's still pretty gross. :-)

Posted by: tybur6 at November 18, 2009 11:56 AM in response to Open Thread

Yeah ENY, it's the moving on the fly part that's not possible. What you described about your move -- that's the normal and planned way to do it. And the fact that you could avoid a realtor -- Kudos to you!

I'm not "whining" about the planned move. You can (OVER TIME) build up the required reserves to move. It's being told as supposedly helpful advice to "just move if you don't like your landlord" That's just not possible! And so out of touch with reality.

Posted by: tybur6 at November 18, 2009 11:55 AM in response to Open Thread

Eeeew Snappy! First - You should be able to clean yourself well enough even with maple leaves in the woods not to need a shower after (maybe you should see a nutritionist for what's going on down there) And Second - nasty. Get flushible ass wipes if you're gonna use them. You actually put used wipes in a garbage can? Remind me never to visit! :-)

Posted by: tybur6 at November 18, 2009 11:51 AM in response to Open Thread

Dipster -- New York law is totally fucked up with security deposits. The only wording is "within a reasonable time." Nice right?! They basically can take as long as they want. My first place in Prospect Heights took 2 months -- and only because my old roommate and I called them about 10 times each and wrote them several letters (and we only started with this AFTER 30 days had passed.)

Almost everywhere else in this country has a 30 or 60 day rule.

Posted by: tybur6 at November 18, 2009 11:41 AM in response to Open Thread

Minard -- linoleum (real linoleum, not polyvinyl that's called linoleum) was also available in tile form. And now that real linoleum is making a comeback, it's available again in tile form. But you're probably right, if you find old non-ceramic tiles in your house -- they're probably vinyl variations... and if they're old, you should get yourself a respirator, lots of water and do some basic sealing and ventilation of the room.

Posted by: tybur6 at November 18, 2009 11:36 AM in response to Beneath the Surface

Etson -- I'm not saying the overlapping month is *required* It's just that it's not usually avoidable. ESPECIALLY if you are trying to avoid paying a broker. Go on Craigslist or any other (real) "for rent by owner" and tell me how many apartments you can find that are actually MORE THAN 30 DAYS in the future?! If you look today, I bet all are either "Available Immediately" or "Move-in December 1st." That's... umm... 13 or so days. How can I give notice AND rent a new apartment without paying 2 months simultaneously?

Broker do sometimes have some inventory 2+ months out... but (1) You have to pay a fee, and (2) absolutely not in my price range.

If you notice, I'm not talking about $3000 apartments. I'm talking about $1300-1800 1-bedrooms. The market is vicious at this price-range.

But take away the commission and the overlapping months -- You still need to have $6,000 in your pocket. Cash-on-hand. Not something the average renter in the $1000-$1800 range typically has without great effort.

You can plan for it -- yes. But that's my whole point. It's the suggestion that you can "just move" is completely absurd. I need to stay in a place for a couple of years (at least!!) to build up a "moving reserve" If my landlord is being horrible or there are things that make me unhappy, I can't just move.

Posted by: tybur6 at November 18, 2009 11:22 AM in response to Open Thread

ENY -- do you dispute the expenses I described above?! The only reason Rob can move "flat broke" is because he basically slums around... he says he has never had a lease, he sublets month-to-month in dorm-like shares. And now, he reveals that he just abandons all of his dumpster shit in his old place for someone else to deal with.

If you want to live like an ADULT and or perhaps even have a family or even a girlfriend/boyfriend... "Just move" is not an option. I guess, East New York, you are just dripping with extra cash and can just move any time you want. That's great. I'm happy for you. Just don't suggest this as an option for most renters.

Posted by: tybur6 at November 18, 2009 11:10 AM in response to Open Thread

Wow... and it only took 15 years or so!

When did this relatively small renovation begin? I think it's been under construction since I've lived here -- and that's about 3-1/2 years now.

Posted by: tybur6 at November 18, 2009 10:45 AM in response to Atlantic Terminal Station: So Close!

Rob - are you actually as stupid as you seem? Or are you some sort of prodigy that enjoys play acting?

Posted by: tybur6 at November 18, 2009 10:43 AM in response to Open Thread

Also -- I also want to add -- Landlords of the World... Think about being HUMANE and try listing your apartment on Craigslist instead of using a Realtor. You have an apartment for $1800/mo. Do you know that costs your future tenant $2100 to $3200 just for the joy of knowing about this vacancy??!!

Oh yeah -- and why the hell can't apartments in this city be posted as available AHEAD OF TIME?! I don't know anyone that hasn't had to pay for two apartments at the same time at least once in this city. We have to give notice or decide not to renew. Ya know, how you require this of *YOUR* tenants? So, either you pay 2 months at the same time or you risk being homeless because you gave up your apartment and the inventory is practically barren until 2 weeks prior to your move out date.

So -- if someone moves from an $1500 to an $1800 apartment, this is what they are looking at having in their pocket at a moment's notice.

$1500 Old Apartment - last month
$1800 New Apartment - First month (same month)
$1800 Last Month
$1800 Security
$2600 Realtor Commission (12%)
$ 500 Cheapskate Moving Expenses

$10,000 GRAND TOTAL!!!

Ten Freaking Thousand Dollars! So, be kind and lets see if you could AT LEAST save us the $2600 being paid to the slightly dimwitted frat boy that provides almost NO value add to the property transaction... Hell, let me pay YOU $1000 extra! Why not.

Posted by: tybur6 at November 18, 2009 10:40 AM in response to Open Thread

I just posted a response to the "Contact my Landlord" posting in the forum.

I would like to make a request of the Brownstoner Community... when a renter asks for advice about dealing with a problem in their apartment, asking about the legality of X or Y, or asking about how to deal with their landlord... FOR THE LOVE OF JAYSUS CHRISTMAS -- can we STOP saying things like, "You should just move." "There's plenty of apartments out there."

Moving is not easy! Not everyone has an extra $4,000 - $8,000 burning a hole in their pocket and just PRAYING for the opportunity to spend it on something with no lasting value. I for one would have a VERY hard time even thinking about moving... and I almost was forced to because of my landlord's inaction. I was very close to taking a 22% APR cash advance on my credit card to cover the crazy up front costs. Luckily he finally stepped up.

So STOP suggesting the person should "just move" -- because it's not that simple. However hard it is for a landlord to deal with turnover of an apartment, it's WORSE for the person just looking for a roof over their head.

Posted by: tybur6 at November 18, 2009 10:27 AM in response to Open Thread

Rob -- if you took a moment to think. Just a moment. Do you not see a difference between a knife and a gun? How many knife wounds are inflicted on *unintended* victims? It's hard to get knifed accidentally standing in your kitchen 1/4 mile away from the knife...

ALSO -- it takes a lot of psychological effort to *walk up to someone* and knife them with the intention of killing them. And most knifings don't have the intention of killing... and guess what, the guy with the knife has a lot more control. A guy with a gun? There's a good chance of killing someone even if you didn't intend to.

Oh and NO -- GOD NO -- I don't think you should have a gun in your home.

Posted by: tybur6 at November 18, 2009 10:15 AM in response to Shooting In Boerum Hill

Oh yeah, and can you pay for the lawyer you want me to get because I'm breaking my lease. Oh, and maybe the cash I'll need to settle the contract I just defaulted on?

Posted by: tybur6 at November 18, 2009 10:09 AM in response to Contacting Landlord

By the way -- I always find it funny when folks say, "Just pick up and move" or "Get a lawyer, and find yourself a new place! There's plenty of places to live." I by funny I mean infuriating.

Let's say my budget is $1300/mo.

Umm... since I've just moved a year or two ago my savings are pretty much crap.. So, do you want to float me the $4000 is costs to move? I need first, last, security, a moving truck... oh, and probably a 10% commission check for the frat boy at the realtor that I had to use to find the place. So, that's another $1600 or so. So, can you float me $5,600 for my move?

Posted by: tybur6 at November 18, 2009 10:08 AM in response to Contacting Landlord

Rob -- All shootings with injuries that require a trip to the hospital are most definitely reported. It's a requirement of the hospital. There is NO incentive for a medical professional *not* to report a shooting. Of course, they may be reporting it as "John Doe treated at Bronx General Hospital" because that's all the information they have -- i.e., the man with the hole in him refuses to give his name.

That being said - I think that kids found with guns should be taken out back and shot. They have no problem with the idea of shooting someone else -- they shouldn't have a problem with getting shot themselves. And I'm not really exaggerating here. Start shooting kids in the thigh as standard procedure and I guarantee gun carrying rates will go down!

Posted by: tybur6 at November 18, 2009 10:00 AM in response to Shooting In Boerum Hill

crimsonson -- It's just troubling that I can't figure out if the object I'm looking at in the photo is real or not. Of course I'd visit... don't generally spend more than $6 without seeing first.

Posted by: tybur6 at November 17, 2009 2:46 PM in response to NV Now 85% Sold

Oh my god... I hope they have "Shoot the Freak Night" where you can shoot the bartender with a paint gun!!!

Posted by: tybur6 at November 17, 2009 12:00 PM in response to New Bar Opening in Prospect Heights

So, the Garfield Place buyers only got $25k off of the asking price? (1.5%) Thems be some crappy negotiating skills! Just sayin'

Posted by: tybur6 at November 17, 2009 11:57 AM in response to Last Week's Biggest Sales

That Mill Basin house is gorgeous. (Isn't that the word?)

Posted by: tybur6 at November 17, 2009 11:33 AM in response to Last Week's Biggest Sales

That photo looks like a computer rendering... it's troubling to me.

Posted by: tybur6 at November 17, 2009 11:33 AM in response to NV Now 85% Sold

FLH -- I totally agree with that. And would it actually make parking harder? Or just harder for the people with illegal curb cuts... from what I see, most of them are 1:1 and do nothing to help parking.

Posted by: tybur6 at November 17, 2009 10:53 AM in response to City Planning Targeting Curb Cuts

I totally agree with not allowing "parking pads" -- they are ridiculous and usually take away street parking -- at a 1 to 1 or sometimes worse ratio.

If your curb cut doesn't *improve* on-street parking (i.e., take up 1 street spot, but provide 2 or 3), then they should be categorically and unequivocally illegal.

However, this "adequate front yard plantings" part sounds really nice... but I also have the "screw you" reaction. You can require I don't park in my front area, require that I keep it clean, require I maintain safety etc. But require that i have shrubs etc? That's over the top. Maybe you they should require I paint flowers on my garbage cans too -- it would certainly brighten up trash day!

Posted by: tybur6 at November 17, 2009 10:22 AM in response to City Planning Targeting Curb Cuts