Co-op of the Day: 384 6th Avenue, #4
That second bedroom is mighty skinny but $475,000 for this listing at 384 6th Avenue in Park Slope is about as cheap as you’ll find in the Center Slope. Despite being located in an attractive old townhouse, this pad (which is listed in the Brownstoner Marketplace) doesn’t have any original detail to speak of, but…
That second bedroom is mighty skinny but $475,000 for this listing at 384 6th Avenue in Park Slope is about as cheap as you’ll find in the Center Slope. Despite being located in an attractive old townhouse, this pad (which is listed in the Brownstoner Marketplace) doesn’t have any original detail to speak of, but the renovation is quite attractive. And don’t forget the kicker: A 375-square-foot private roof deck with Manhattan views. And the maintenance, at $668, ain’t bad either.
384 6th Avenue, #4 [Corcoran] GMAP P*Shark
maint on this is same as the one in clinton hill. this per flr plan is around 550 sq ft so 668 is ~1.21 psf. that clinton hill per flr plan is around 660 sq ft or ~1.22 psf. bang on maint, clinton hill one wins as that comes with elevator, security, maint crew.
location-wise, no doubt this beats the clinton hill one.
overall, I would have to give this one a slight edge over that clinton hill one.
I seriously take umbrage at the idea of planning on staying in a PURCHASED property for only 3-4 year. That’s really pushing it. 3-4 years is what a renter does. On a $350,000 mortgage, you will have racked up a total of about $17,000 in principle payments in 4 years. In other words, an entire 5 percent!! WOW!
And, of course, when you move in 4 years… you expect to have at least a 20% gain in your property value, right? And plenty more to cover your transaction expenses from this property and your new one… So, it would probably be good if your $450,000 purchase was worth around, what, $570,000 in four years?
(As a side note, all of this money is not even for anything real. It’s for a co-op lease… i.e., your *right* to occupy the space, not the space itself. That just bugs me on a fundamental level.)
Although I wouldn’t consider it a 2 bedroom, the price and maintenance seem at the low end of today’s market to me, too. There may be an underlying mortage on the building and RE taxes on co-ops are higher than houses. Heat it, insure it, provide electric in the public spaces , and maintain it and you’d be hard pressed to get costs lower than $1/sf/month.
IDK- I actually think this is a good deal
considering it’s $475K (which means a buyer could probably get it for $450K) and live in a nice brownstone building in center slope for a reasonable mortgage is a pretty good deal to me. I think this is a great apartment for a couple or a single person or even a couple that plans to have a kid and stay there for 3-4 years
I don’t think it’s a steal. Don’t put words in my mouth, please. I said that if you compare today’s place to yesterday’s, it seems to me that while yesterday’s might be slightly larger inside, the location of this one combined with the private outdoor space make this one seem like more of a “deal”
I’m SURE there are people who would rather live in Clinton Hill over Park Slope, but you aren’t a very smart shopper if you think that 2 similar apartments in those 2 neighborhoods should be priced equally.
omygawd 11217, on cue, saying this park slope apt is a steal and other nabes are overpriced.
the second ‘bedroom’ could be a nursery or office, so leaving wall up might be good.
All of the above said… if you happen to have the $100,000 in your pocket, I suppose the $2,600 a month is vaguely acceptable for a couple with a vasectomy.
To be clear… it’s just a *roof* not a roof deck. Throwing some wooden Ikea decking tiles on the roof doesn’t make it a deck. Just sayin’
Oh, and you can fit a queen bed in there *exactly*… so it could be a guest room, I suppose. Not really a place to live. I guess maybe a kids room, but they couldn’t have a cool race car bed or anything that was wider than a regular ol’ twin bed.
“Second bedroom wouldn’t even fit a bed of any sort at 5 feet wide.”
A full size bed is 54″ wide (4.5 feet).
Queen is 60″ wide (5 feet).
This makes the apartment yesterday in Clinton Hill Co-ops look overpriced, in my opinion. Especially when you factor in the private roofdeck.