Would You Pay $399K for a Cute One-Bedroom Condo in Outer Bushwick?
This one-bedroom condo is one of several units up for sale at 18th Ward, a new condo development at the outer edge of Bushwick, near the Ridgewood border, at 303-309 Cooper Street. (Slogan: “On the cusp of Bushwick hip and Ridgewood cool.”) Constructed by Boaz Gilad’s Brookland Capital, the four-building development will have 27 units…
This one-bedroom condo is one of several units up for sale at 18th Ward, a new condo development at the outer edge of Bushwick, near the Ridgewood border, at 303-309 Cooper Street. (Slogan: “On the cusp of Bushwick hip and Ridgewood cool.”)
Constructed by Boaz Gilad’s Brookland Capital, the four-building development will have 27 units split among four buildings when it’s finished.
This one is $399,000 — somewhere in the low to mid range for the complex. Prices of units on the market in the complex range from $329,000 for a studio to a two-bedroom penthouse with a terrace for $625,000.
The design is clean and sleek, with some “pieces of flair,” to quote Office Space. These include the gray penny tile backsplash in the kitchen, the wallpapered accent wall in the bedroom, and some framed wallpaper in the living room of the model unit.
The kitchen is small but attractive, with white lacquered cabinets and white quartz stone countertops.
At 10Â feet wide, neither the bedroom nor the living room is huge, but they’re livable, especially for the young singles or couples likely to be interested in these. Floor to ceiling windows are a plus, and there’s a washer/dryer hookup — no machines though; it’s a BYO deal.
While a roster of amenities and common spaces is the trend among recent building launches, none are mentioned here. (No roof deck, Boaz? No gaming lounge?) Common charges for this unit are $329, taxes $269.
Sales launched on four units in August, and all are still available. The location at the far end of Bushwick — near the graveyards and a massive Superfund site just over the Queens border — may well be a factor.
Nonetheless, new spots like the Houdini Pizza Kitchen Laboratory and the beer garden Nowadays are popping up in the vicinity. And the Halsey L stop is within a reasonable distance.
Think these will move? What do you think of the location, the unit and the ask?
[Listing: 305 Cooper Street #2A | Broker: Aptsandlofts.com | Photos by Aptsandlofts.com] GMAP
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And there is this 20 yards away: http://ny.curbed.com/archives/2014/07/03/ridgewoods_radioactive_superfund_site_worries_neighbors.php
…wow. no. i own a 1 bedroom literally twice the square feet with 5 (FIVE) closets, 3 blocks from Prospect Park and an express train and i paid less than that. Inquisigal2 is dead on the money–moving to an area like this should be worth it to get more space, not just to live in a Kips Bay-esque shoebox.
This defies logic; no, I would not pay just shy of $400K for this unit.
10 feet wide for a living-room is ridiculously small. It takes two seconds on Google Streetview to see what the street and surrounding blocks look like, and it looks run down and sparsely populated. Renting or buying a place in an “up and coming” neighborhood (in the real world, formerly-blighted) used to be enticing to a certain type of person because they were able to pay a low or reasonable amount of money to get a larger amount of interior space than if they paid more to live in a more amenity-rich neighborhood. The trade off was that they knew they were moving to a street or area in which the surroundings and businesses were bare bones. That this developer has the nerve to price these places at this price point, and to tout the “hipness” and artsy cache of Bushwick in general is a joke. Buying property is still something that needs to be a smart investment, and it takes only a small amount of research to find out that 1-bedroom apartments in Ft. Greene and Clinton Hill can still be had for less than this in the co-ops, and older, much larger pre-war units can be found in Ditmas Park and along Ocean Avenue for less than $300K. Anyone who’s going to shell out $85K to get in the door, and more than $2000 a month to live in a tastefully-designed shoe box right by the Jackie Robinson Parkway because Bushwick is so “hip” deserves what they get.
Exactly this. It is ridiculous.
Agreed that it’s a ridiculous price at $750psf.
But the fact that this probably requires just 10% down will make it attractive to a naive first time buyer who’s desperate to enter a hot property market but doesn’t have 20% down($60-80k) saved up to buy a coop.
That’s what the developer is probably banking on.