Co-op of the Day: 100 Remsen Street, #5F
This new one-bedroom listing at 100 Remsen Street is pretty straightforward in every way. It’s a little plain, to be sure, but on the other hand it’s well-laid out and everything looks to be in decent shape. The Brooklyn Heights location is really the selling point. And the seller isn’t being greedy: The asking price…
This new one-bedroom listing at 100 Remsen Street is pretty straightforward in every way. It’s a little plain, to be sure, but on the other hand it’s well-laid out and everything looks to be in decent shape. The Brooklyn Heights location is really the selling point. And the seller isn’t being greedy: The asking price of $398,000 is $6,000 less than what he paid for it back in 2005. The four other units in the building that are on the market have all undergone price cuts, though, so we guess he’s just being proactive.
100 Remsen Street, #5F [Corcoran] GMAP P*Shark
Ground leases are more common in Manhattan (and Miami Beach) than in Brooklyn. They are a pain in the neck because if they are up in less than 30 years, you probably will not be able to get a 30-year mortgage. But you will get a 15 or 20 year mortgage, so depending on what the discount is, it could be well worth it.