Co-op of the Year? 35 Prospect Park West
Whoa! Several readers emailed this new listing at 35 Prospect Park West to us yesterday, and with good reason. If the nine-room co-op ends up fetching anywhere near its asking price of $6,500,000, it’ll roughly double the highest price we’re aware of a co-op in Brooklyn ever going for. This could do it, too. We’re…
Whoa! Several readers emailed this new listing at 35 Prospect Park West to us yesterday, and with good reason. If the nine-room co-op ends up fetching anywhere near its asking price of $6,500,000, it’ll roughly double the highest price we’re aware of a co-op in Brooklyn ever going for. This could do it, too. We’re talking about 3,500 square feet of interior space over two floor in one of the (if not the) best prewar apartment buildings in Park Slope; throw in another 2,300 square feet of wrap-around terrace space and you’re looking at a pretty killer pad. As for the price, this is one of those unique places that defies comps and simply hinges on the question of whether the right super-rich person will walk in the door and fall in love. Note: This is a co-exclusive between Corcoran and Brown Harris Stevens.
35 Prospect Park West Penthouse. [Corcoran] GMAP P*Shark
35 Prospect Park West Penthouse. [Brown Harris Stevens]
To 3:55,
You prediction sounds like a reasonable price, but I doubt that they Sellers will be willing to take a cut of half of the asking price. They probably wouldn’t even consider selling less than 5 million. If you have an asking price in mind it is mighty tough to eat a 10 reduction in purchase price, much less than 50%.
I actually think Eryximachus makes an interesting point. This building IS out of context in height and density, and would have been much more so when it was built. (Wonder if it was controversial at the time?) But here’s the rub: this building is gorgeous. Also it is non-contextual structures both popular and not that define a skyline (the Empire State Building, for example, the late World Trade Center for another) . Most of the non-contextual buildings people bitch about here are hideous and cheap, and that’s half the reason they’re so hated. On the $6.5 million price: sounds like somebody be smokin’ some good shit up in there…..
This place is overpriced by at least $2-3 million. The finishes on this place would have to be amazing to get over $5 million. Based on the pictures (through the window air conditioners and a not particularly fancy kitchen), it does not seem as though this is the case here.
Is the penthouse the entire top structure of the building? It’s hard to tell if that structure has two or three floors.
Hello Folks?!?
Don’t need a lot of money to buy this?!?! It is a CO-OP!!!
Yes, you DO need a lot of money. This is not an easy board at all. Do we think this board doesn’t review financial documents? It’s cute to relay Grandma’s wisdom, but PLEASE, think about what you’re saying.
Also, regarding the photos, I believe this has been on the market before and perhaps the photos are not Corcoran’s?
4:16 – Both of the statements you cited are referring to current market conditions – saying that a current listing is overpriced in today’s market is hardly playing Nostradamus.
As for being a Brookynite – who cares – I live in Brooklyn b/c it has what I want at a price I can afford – I don’t view my home as an investment that has to appreciate or that I have to “cheerlead” for. I have lived in NY my whole life and expect I will die here – if the prices go up so what – any place I will move will be that much more expensive too and if they go down then my next place will be that much cheaper. As for Manhattan vs. Brooklyn – comparable neighborhoods (albeit they do change) in Manhattan have been more expensive then Brooklyn since the white man bought Manhattan with beads.
Try analyzing things with a little objectivity rather then solely based on emotion – you’ll be alot more successful in the end.
My latest empire mortgage rate update flash pegs 30 year new york mortgages at exactly 7%
holy sticker shock.
People may have locked in prior to this for 60 days but you better buy now if you have that lock in. We’re in the 7s now, folks.. and CD rates are well into the 5s.
“I’m not making any predictions about the future, or hoping for a decline”
“No way they are going to get that price”
“Sorry but Brooklyn just isnt at this price range yet (and may never be), you can get an equal apartment in Manhattan for LESS.”
seem like predictions to me. and strange ones at that, if you’re a brooklynite.
interest rates are still sitting at around the lowest they’ve been in more than two generations.
meanwhile, this place will sell for 3.45 mm. I said it here first. check it.
Bitter about what? a 30yr mortgage has jumped about 1/2 a point in the last 3-4 weeks – on a 750,000 mortgage thats about $315 a month – that has an effect on the housing market (and a much bigger one on commercial RE and equity/FI markets) – I’m not making any predictions about the future, or hoping for a decline; but if you view every economic assessment that isn’t blindly positive, as bitter – you are going to get burned one day.