Condos of the Day: Clinton Street Brownstone FSBOs
A husband-and-wife team bought this five-story, 25-foot-wide brownstone at 378 Clinton Street in Cobble Hill last year and have turned it from a five-family rental into a three-family condo. They’re keeping the garden duplex and selling the two upper units. The middle apartment is an 1,100-square-foot floor-through with 12-foot ceilings; The upper duplex about 2,400…
A husband-and-wife team bought this five-story, 25-foot-wide brownstone at 378 Clinton Street in Cobble Hill last year and have turned it from a five-family rental into a three-family condo. They’re keeping the garden duplex and selling the two upper units. The middle apartment is an 1,100-square-foot floor-through with 12-foot ceilings; The upper duplex about 2,400 square feet and has an unusually open plan for a brownstoner. (Actually, it’s kinda like what we did with our second floor.) While the renovation in general is fairly traditional and understated in feel, it looks like there wasn’t a lot of original detail that could be saved which is too bad. Given the amount of grumbling yesterday about the $1.8 million price tag on the duplex on 7th Street, it’ll be interesting to see whether the asking price on the duplex $1.95 million will fly; the simplex is asking $950,000. There’s arguably less on the market around Clinton Street than in Park Slope but, regardless, this place has to stand up on its own against an entire house that could be bought for the same price in not-too-distant neighborhoods. Move in or move on?
378 Clinton Street [FSBO] GMAP P*Shark
I stand corrected, it’s a condo, that means there should be no underlying debt. That’s good but it still means that there are three owners, which is both too many and too few. Does the Condo have a reserve fund? is there someone who takes care of the common areas and cleans the sidewalks etc?
this sort of arrangement is OK if you get a deal and can save a lot of money over what you would pay in a traditional apartment house. But at these prices, you could find a nice coop or condo in a full-service, established building. Look at the Columbia Heights apartment featured today. That’s worth it. This ain’t.
I’m the owner. To 1:32. The taxes are included in the common charges. All told, it comes out to $660. Any other questions? Fire away. Contrary to some opinions, it is an expensive renovation. And much nicer than 100 2nd Place, if I do say so myself.
To anon 1:27 PM. There is no underlying mortgage for a condo. Do you know the difference? And who takes out the garbage and fixes the boiler? I think that’s a question you have to ask no matter where or what you buy.
duh…i take that back. it’s in the freakin’ headline. but still confused about the no taxes.
it’s not stated on the listing site whether this is a coop or a condo…or if it is, i’m blind. no mention of taxes, though, which indicates coop to me.
Chelsea123, I wonder the same thing. I thought those prices for the condos on 2nd Place were insane, given the price of an entire brownstone in the neighborhood, but I guess someone bought them. I think these prices seem equally over the top (why would anyone pay close to $2 million for a walk-up?) but maybe not. I do think the 2nd Place renovation looked a bit nicer than this one, but these are in PS 29, which is still more coveted than PS 58 zone (although that is fast-changing).
Anon 1:27 — again it is a CONDO – not coop. No underlying mortgage.
It doesn’t matter what kind of fridge or dishwasher or marble tile there is. What matters are the financials and the comparables. Is the underlying mortgage reasonable? Does the founding couple have board majority? Who takes out the garbage and fixes the boiler when it goes out on the coldest night in January? It’s not just about silly appliances and finishes.
Fred — clearly stated and named as acondo not coop.
And awkward kitchen to living room? What planet some of you people from…or do always have to say something negative even if makes no sense.
Price per sq. ft. seems competitive (if sq ftage is accurate).
Corcoran has higher priced per sq ft condos on Union (Smith and Ct) and on Luquer. Not prime blocks like this one.
(and elementary school).
Biggest drawback is hike up the stairs for the duplex.
Otherwise – great looking space and wish I lived on Clinton St (which I did once years ago in RS studio).