Purchase Price of Condo
Am I crazy? Really like a condo that is for sale on 13th b/t 6th and 7th aves. Nice 2 br/2 ba with 100 sq ft terrace. 2nd floor walk up/no building amenities. small roof deck that looks like no-one uses as it’s not all that much anything and people have terraces. Sponsor sale (buyer…
Am I crazy?
Really like a condo that is for sale on 13th b/t 6th and 7th aves. Nice 2 br/2 ba with 100 sq ft terrace. 2nd floor walk up/no building amenities. small roof deck that looks like no-one uses as it’s not all that much anything and people have terraces. Sponsor sale (buyer will have to pay 1.8%transfer tax) Sponsor will not go below $945K. Am I crazy or is that just ridiculous high? almost $900 per sq ft for south slope, not even PS 321! Thinking of waiting it out as I figure no one will pay that much money these days. Am I plum loco??
passing up a place (and only thing I’ve seen and really liked) or being taken taken for a chump by greedy sponsor?
Thanks all.
Happy 4th!
The price is way too high. A bank who saw the price per square foot and 100% renter occupancy rate would laugh you right out of the building.$222 is not a low rate if it only includes common charges and no taxes. Even if you somehow got a bank to agree(never), careful of the renter situation in there. Resale may be impossible, common charges might fall onto you if left unpaid, and bankruptcy is a big concern if the developer who’s holding 3 of the 4 units goes defunct. RUN!!!
why don’t you look up how much the other units in the building sold for? that can give you an idea if the price might drop or seems to be on target with what the other units sold for. also, that price does seem very high for the area. i was looking for a two bedroom for a while (about two years) in park slope (not south slope) and two bedrooms in nicer areas were priced/going for around that in the past year. i think it’s a bit far out to be so high in price. good luck to you!
The Gretsch sounds a lot nicer.
wow, didn’t realize what reactions would ensue from my post! only 4 units. 2 sold 2 currently rented by sponsor. low low common charge of $222/month. Nice place better quality than most i’ve seen. but still way high price wise. Thanks for all the comments. happy 4th!
I should have pointed out that, while hearing gun shots was once a common occurrence in LM/PLG [and much of the rest of Brownstone Brooklyn] I have not heard them from my Midwood Street home for quite a long while. That’s what angered me enough to respond so dismissively to “lee_maison’s” comment[that and the return to civilization part].
Well the thing is, drug selling happens everywhere. The only difference is people in nicer neighborhoods like Park Slope or Brooklyn Heights get them delivered.
Gun shots are a big deal but your naive if you think they don’t happen near where you live no matter how nice the neighborhood.
Back to the original post. There’s nothing wrong with South Slope but that price does seem higher than what most places are selling for in that area. I know new construction is more expensive but you’re obviously not comfortable with that price and rightly so. I wouldn’t go through with it as a lot of people here have pointed out, there are plenty of new units coming on the market in that are that will probably be priced better.
I am just tickled to death to read people blowing off gun shots and drug selling as if it were fireworks at Fourth of July.A regular accepted occurrence in Brooklyn.
Are you guys for real? Is this a Spike Lee joint?
Yes, it’s a great area, but that price is definitely nuts!
You could probably get a whole house just a few blocks over in Windsor Terrace for that price.
i’m going to go with, what? too high. if it’s schools, suss out options in other markets were maybe there’s a magnet school or a great charter, or a really good school in an area that just wasn’t on your radar.