Condo of the Day: 306 2nd Street, Apt. 2F
How far has the market between 4th and 5th Avenues in Park Slope moved up in the last three years? According to the seller of Apartment 2F at 316 2nd Street, more than 60 percent. Back in early 2005, the seller paid $670,000 for a 1,310-square-foot apartment in the newly constructed building. It’s now back…
How far has the market between 4th and 5th Avenues in Park Slope moved up in the last three years? According to the seller of Apartment 2F at 316 2nd Street, more than 60 percent. Back in early 2005, the seller paid $670,000 for a 1,310-square-foot apartment in the newly constructed building. It’s now back on the market for $1,095,000. Since the high price certainly can’t be being driven by the aesthetics of the building’s exterior (yuck!), all we can guess is that the seller’s banking on the fact that there’s great demand for “family-sized” apartments in the Slope. (To be fair, the interior looks perfectly nice.) Since this has three real bedrooms, it certainly qualifies. Or maybe it’s just the first example of the Olive Garden premium! Either way, there’s an open house on Sunday from 2 to 4 pm.
316 2nd Street [Corcoran] GMAP P*Shark
I’m going to go out on a limb and say this is the reason why people oppose new construction.
Guys for a 1-1.2M you can get a nice 50′ x 100′ lot 3500sf mansion with a driveway, in Prospect park south/Ditmas/Kensington
closer to the park than this condo.
I know few smart Parkslopers who made the transition. Cortelyou street is on the up and up.
In 2-3 years this option will be gone and non affordable.
telecommuting is not possible if you’re on the biz side of creative fields like advertising, photography, editorial.. meetings in person are still crucial. even having a new york office is imperative.
from an inspiration point of view, the immediate understanding of what is current is available to a NY’er simply by walking around everyday.
also, many crucial vendors that are necessary to creating final creative are not available outside of NY or LA in most productions for film/print.
NY networking is invaluable for many.
Re: you’re an idiot, 5:43. plain and simple.
if you’re so disgusted by the subways, people and trash, why don’t YOU move elsewhere instead of talking out of your ass about what other people should do with their money and lives.
I guess since I paid 500K for a 1600 square foot loft in Park Slope would suggest I am not an idiot. If I didn’t have this place I would leave. Of course I felt stupid when I bought it- thought I must be buying at the top of the market…. I still think the monthy fees are ridiculous and yes the subway is feetid. I wasn’t raised in NY.
Re: Creative Jobs. Telecommuting? Different job with a better quality of life? I have a friend who lefta very good engineering job in San Jose for a sysadmin job in Lincoln NE. He sold his house in San Jose and bought a nicer hosue in Omaha for cash and had plenty left over. He says his quality oflife has gone up even if the job is dull.lESS stress and more free time.
the comment about how horrible NY is and why don’t we all live somewhere cheaper of course misses the big reason why many live here – JOBS.
many of us in creative oriented fields would find little to no work in other markets, so the fact that other markets are cheaper is irrelevant.
for me, the only other market i could reasonably go to is maybe London, and that’s way MORE expensive. i could possibly work out of LA, but LA is not exactly cheap.
also, living in the city is easier in some ways – hop on the subway, take a cab home, walk to stores and restaurants, and maybe to your job and back, have fresh direct deliver your groceries, access to 3 airports and the cheapest flights to Europe in the US, etc… etc….
Also, if you have a refined aesthetic, most other places outside of major western European cities and LA will absolutely do you in.
I am a Park sloper, and have been in the apartment market for a while, and just want to add to this conversation that I have seen a few of the apts in this development and they are NASTY. I wouldn’t pay a dime. I’m willing to push the limits on the neighborhood, but it feels awful inside those buildings. The outside feels cheap and cheezy. I can’t believe these places sell at their insane asking prices.
I certainly agree that you are better renting right now but that is mostly irrelevant to people who want to own – and in that market this place really isn’t ‘overpriced’.
Further if you want to make the argument that the ‘market’ itself is overpriced – don’t fall into the false analysis of what the purchase price was – it is mostly meaningless – the factors that legitimately influence housing prices are interest rates and income (plus in the city – crime); Now by those standards I agree the market as a whole is overpriced (that doesn’t make this individual apartment overpriced however) but it is extremely difficult to predict the top of markets as Annonymous @8:22 proves by selling 5yrs ago – BTW assuming you sold your 15K house for around 900K, thats about 12% compounded appreciation for 30yrs – no doubt excellent but when you consider that you owned it during some of the highest inflation years ever and probably had to do some capital improvements as well – its not exactly as amazing as the raw numbers would suggest – the miracle of compound interest and time can make almost every investment seem unbelievable.
Every generation has something to learn from the economy. How to be respectful of others even though you are wealtht. How to keep on keeping on when you have no money.
How to evaluate who you are,with or without profits from real estate. If you received twenty percent less than your purchase price are you a failure, are you a success. See where I am going with this?
Now there will be a good hundred of you
calling me craxy. Maybe you will point out i have misspelled aardvark. I no longer own anything anywhere and I am happy about all that. I am liquid, and I am renting. No I don’t want to buy anything. Cash is king in a recession.
I bought three houses in Boerum Hill in the early seventies, I paid fifteen thousand a piece, and my mother thought I was crazy. Sold them all five years ago.
Never liked the area, it was just somewhere to make money in the long run, not the short run. I feel most of you have missed the boat and are swimming in the river without your life preserver.
You have no room for a marginal mistake, you paid high and you have to sell even higher. when we started buying, we went to nabes no one wanted and held for thirty years.Now kids buy, sell in six months, and make a great profit. No more
find a newer and brighter place that’s cheap and fun.