Co-op of the Day: 135 Clinton Avenue
Like Fort Greene, Clinton Hill doesn’t have a lot of townhouses that have been converted into condos or co-ops, which makes this two-bedroom, top-floor apartment interesting. Given that the second bedroom is really only suitable for a small child and the location is north of Myrtle, we’d say the asking price of $599,000 might be…
Like Fort Greene, Clinton Hill doesn’t have a lot of townhouses that have been converted into condos or co-ops, which makes this two-bedroom, top-floor apartment interesting. Given that the second bedroom is really only suitable for a small child and the location is north of Myrtle, we’d say the asking price of $599,000 might be a tad aggressive, but, then again, the parlor floor unit sold for $675,000 a year ago, so what do we know. We’re liking the floors, original woodwork around the windows and the skylight. Don’t love the dropped ceiling around the kitchen but that’s easily remedied. If you’ve been in the market for this sort of thing in the area, we’d love to hear how you think this stacks up. There’s an open house on Sunday from 12-2.
Listing #5825 [Warren Lewis] GMAP P*Shark
Photo by Scott Bintner for Property Shark
I’m not sure why some of you are so negative about the asking price of this unit, especially those of you who haven’t even seen it. I went to the open house and thought that the price was reasonable, though the apartment wasn’t for us. As far as the issue with the common areas, I was told that they were being renovated and that was where part of the coop fees were going. Anyway, since you live in the actual apartment and NOT in the hallway, I can’t imagine why this would be such a problem. We all know that NY real estate is different than anywhere else. C’est la vie.
Did anyone go to the open house?
Did go to the open house?
Comment above..oy vey living near the hasidim. Where do you live?? Cuz I wouldnt want to be near a asshole biggot like you.
tanya,
not everyone wants to be a landlord, but many have reached the same conclusion as you (and we are so pleased to have figured this out that we do LOL).
Buy something like this:
http://newyork.craigslist.org/brk/rfs/310649598.html
and even after the 100K of paint and repairs it needs you can almost live for free.
As for the “stretcher” comment, not everything is that cut and dry. Park Slope rents are not returning a good return on purchase cost, but plenty of Crown Heights houses are. No need to wait for rents or values to increase. They already make financial sense now.
And no I am not the broker or the owner, but I do own something similar.
hahha @ the comment above me.
Buying a building and renting out apartments to defray the rent? How novel! Why didn’t I think of that?! Maybe someone could start a web site or something . . .
Today’s top of the market “stretchers” are going to see their housing dreams go out the door on one!
a question – does it make more sense to buy an apartment in a townhouse or to stretch and buy a house with rental units, thus providing income to offset the higher mortgage? i’m looking at everything and the more i see the more i’m convinced that it makes more sense to buy a small building that provides rental income than to buy a small apartment in a small building. as i want to stay in fort greene/clinton hill, i wonder if anyone has seen or knows of property in the hood for sale where one can live in a small apartment (for the time being) and rent the rest?