Co-op of the Day: 431 7th Street
A reader who lives on this block of 7th Street between 6th and 7th Avenues sent this duplex co-op listing in disbelief. “I live on this block and paid waaaaaaay less for what I have,” he writes. “Are these prices crazy?” Of course, he neglects to say when he bought his place, so who knows….
A reader who lives on this block of 7th Street between 6th and 7th Avenues sent this duplex co-op listing in disbelief. “I live on this block and paid waaaaaaay less for what I have,” he writes. “Are these prices crazy?” Of course, he neglects to say when he bought his place, so who knows. As for this duplex today? We have a hard time seeing how someone’s gonna pay $1.8 million for a 3-bedroom walk-up in a 3-unit co-op. But, then again, according to Property Shark, this apartment traded at $1.5 million in June 2005, so there’s some basis for the price. What do readers think? Crazy? Or just so crazy it might work?
Best Duplex in Park Slope [Brown Harris Stevens] GMAP P*Shark
anon 1:55….real estate is about location….for the seller. they put it at 1.8 cause of its proximity to manhattan, because i dont see any amenities provided. for the buyer, it should be about bang for your buck. and this place simply does not prove to me its worth the pricetag. if your priority is location then so be it, but i’m worried more about square footage and my level of comfort in my home.
The building may be all owner-occupied now but I can assure you that that has not always been the case. I lived there in the ’90s as a tenant of one of the co-op owners, who had moved to California and had no interest in the apartment except as a source of income. He certainly didn’t care that the apartment was icy cold all winter. The tenants in the duplex above were freezing as well but wouldn’t complain because their rent was very low and they didn’t want to rock the boat. We had Verrazano come in to try to figure out what was wrong with the heat, but they had no answers.
I agree that the block is very nice and I always felt safe there.
As someone who actually lives on the block, let me correct some inaccuracies:
Nobody rents in this building – its an owner-only building.
The church noise comments are somewhat dated. The church installed aircon a couple of years ago so the windows are now closed during service and there is no noticeable noise as a result.
Everyone on the block closest to the church has lived there for over 15 years. Everyone. That’s four houses – the noise can’t be that bad if everyone’s staying that long. And the owners are selling to move into a house – I know they looked for a house on the block, but apparently couldn’t wait for one to come up so they’re moving round the corner.
To me, the apartment looks more like 2100 sq ft from the plans – I make that nearer $750 a sq ft. Not cheap, but not the $1000 noted here. You’ll notice the house across the street is for sale at the same price (owners are relocating out of NYC) and that’s slightly less square footage. So its not “off market”
Finally, I can assure you that this is one of the friendliest, safest blocks in Park Slope, bar none. I’m not sure of the facts of the mugging, but these events happen EVERYWHERE (a shook-up pizza delivery boy arived at my place a few days ago having just been held up and robbed on Carroll at 8th ave).
As for price, if its worth that much it will sell. Period. Whether you’d pay it or not is relevant only if you’re the only bidder. So feel free to throw your comments around but they’re really nothing more than your opinion and unconnected to whether or not this (or any place) is “worth” the money.
I think this apartment does not have a 1.8 million dollar layout. From the outside it looks a little like a tenement and it’s a walkup.
It seems rather over-priced to me.
It’s worth it over cheaper nabes because of the better on–the-street vibe. People that will cover your back. That is what creates the value, in my opinion.
Well, I didn’t read every word above, but as Einstein said, everything’s relative. From MY point of view, and based on MY priorities, I would not be looking at a place like this if it were within my budget.
I imagine there may be others out there like me who are willing to sacrifice a little location for space, convenience, and quality of life. That’s what works for me. Location, location, location means money money money. Some have it, some don’t. I would want more for my money than a few ooohs and aaahs. Other people require it. Vive la deifference.
This “conversation” makes me wonder if perhaps the only people posting negative stuff about listings like this one are people hoping they can get it for a lower number. Makes sense, try to psych out the competition and get it for a reduced price. Pretty sleazy though if that’s what’s happening.
So, your proposal is no more moms in PS in order to make it more palatable to you? jealous much?
that actually isn’t the issue, 5:29. it’s not overpriced if someone buys it.
your logic is quite failed.
and it seems if we are to believe one of the posters, they already have an offer or two.
if it sells for this price, it is NOT overpriced by definition.
and i’d be concerned buying a property in which someone is losing money on the deal. glad you are ok with it.