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
I thibk these coops are ridiculously overpriced and find it hard to believe that they would sell for asking.
I used to live behind a church in Prospect Heights. They didn’t have all-night jam sessions, but they did have 5-hour-long church services every Sunday afternoon, and it was LOUD. Close-the-windows, turn-the-TV-to-top-volume loud. I didn’t pay over a million for my apartment, either, though.
Speaking of location … for what it’s worth, I believe this is the block where the writer Douglas Rushkoff got mugged at knifepoint on Christmas Eve.
you all say it’s foolish anytime ANYONE buys a property for god’s sake.
do you have any idea how dumb it sounds from years of saying it on multiple properties a day? SOOO tiring.
oh, and i’ve heard of not wanting to live near homeless shelters, schools, bus depots, times square, bqe for noise, but darn those church bands and choirs.
will they EVER shut up???!!!
you people who thought moving to park slope was the same as moving to a ranch in nebraska didn’t do too much investigative work now, did ya?
i used to live 2 doors away from the apartment-we moved in may 2006. while i really enjoyed renting an apartment on that block, there was definitely a noise problem with the church on the corner. they would practice with a full band 2-3 nights during the week and all day on sunday. during the spring and summer, they would practice with the windows open. we would have to keep our windows shut to get a break from the noise. in addition, parking was always very difficult when they were practicing during the week.
while the duplex is in very nice condition and the roof deck is a strong selling point, what’s the use if you can’t enjoy the outdoor space because of the noise. i really hope the perspective buyers are made aware of this problem. it’s definitely not worth it at that price.
That’s insane. Who are the people buying these places? Wait, don’t answer that. I’m getting sick of hearing comments like “it’s called WALL STREET, whiner”. Let’s just leave it at this: good lord, that’s a lot of money.
$1000/sq ft is silly for the slope. You could rent it or something elsewhere just as good for $4000 a month, but 1.8m is going to cost $9000 a month at 6%. Take into account all the other costs of owning the duplex vs renting, and the 10% transaction cost to sell/buy, subtract some interest deduction, and the new owner needs massive appreciation to make money over a renter, yet massive appreciation just drives this already crazy gap even higher.
hey 1:47…not sure if you’ve ever heard the phrase, location, location location.
your logic does not hold up. location is what real estate is all about.
screw queens. you know what you can get for that kinda money in north dakota???
This place looks to be approx. 1,750 SF – it might be bigger than that though.
but if it is 1750, that translates to $1,028.00 per SF..
I’d take the house on 20th – 3,000 SF single fam house for 1.3mil plus the lot.