408 St Johns Place?
Hi all, We are looking at buying a two-bedroom ground floor apartment on St Johns Place (between Underhill and Washington) in Prospect Heights. The asking price is $599, and the maintenance is $717, which seems a bit high. Does anyone have any information about this block or this building? Anything we really should know? We…
Hi all,
We are looking at buying a two-bedroom ground floor apartment on St Johns Place (between Underhill and Washington) in Prospect Heights. The asking price is $599, and the maintenance is $717, which seems a bit high. Does anyone have any information about this block or this building? Anything we really should know?
We live in the ‘hood but are pretty new to the market and would really appreciate any advice!
Thanks SO much.
hi there.
curious if you purchased at 408 st johns? there are a few postings for sale one for rent in the building, i am considering. have been looking to purchase in PS and north neighborhoring hoods for some time (2 yrs!) but im sickened by the size and quality of spaces under $500,000. considering looking east.
can you tell me if you feel this is a safe neighborhood/block? and how about the building/neighbors?
St. John’s can get noisy during the summertime… there used to be a St. John’s Block Party that would get pretty crazy, but they shut it down a couple of years ago… I’d definitely go have a late dinner at chavella’s and walk in front of your building.
I rent a lot of apartments on St. John’s and none of my tenants have ever complained about noise…
Shouldn’t your broker be telling you comparables? That’s the whole point of us having our database.
Thanks, Snezan. Yes, we are researching what other similar apartments have recently sold for and the asking price does seem a bit high, especially combined with the maintenance.
Anyone know if this block gets noisy at night? The apartment is on the ground floor with one of the bedrooms facing the street.
Thanks!
i meant higher floor sorry 😉
i like this building and the block is only going to get better. The price seems a little high to me though 😉
There was a sale for a 2 bedroom unit at 328 Sterling for $599 last year and it is a better block than St. John’s, a lower floor, the coop is well managed and the maintenance was under $600. I believe it went up this year though.
I don’t believe it was 960 square feet, more like 900.
Thanks! That’s very helpful. Need to find out more on the financials. I know 45% of the maintenance is tax deductible.
It is pretty large, approx 960 square feet, with high ceilings, prewar detail and a good layout. But it’s on the ground floor, which doesn’t bother us but could affect the resale value.
my two cents the asking price seems high (though I guess it all depends on the sq. feet) and the maintenance may be a bit high too. Usually those two numbers have an inverse relationship… higher asking justified by the fact of a lower monthly maintenance.
If I were you I’d find out more about the financials… what the reserve fund is, how often they have done assessments, how large is the underlying mortgage and what rate are they paying (and what date will it be paid off). $717 sounds high, but it’s maybe only $100 a month above what we were paying on our coop a year ago for a 2bed.