Condo of the Day: Newswalk Studio Loft
“I’m not gonna pay someone $35k to kick me out of my apartment for 3 hours every Sunday,” said the owner of Unit 504 at the Newswalk building in Prospect Heights in an email to us. It’ll be interesting to see how he fares on his own trying to fetch $565,000 for his 700-square-foot studio…
“I’m not gonna pay someone $35k to kick me out of my apartment for 3 hours every Sunday,” said the owner of Unit 504 at the Newswalk building in Prospect Heights in an email to us. It’ll be interesting to see how he fares on his own trying to fetch $565,000 for his 700-square-foot studio loft. As for the apartment itself, it appears to have pretty typical finishes for this building; the most noteworthy elements are the loft structure and the big wall of windows. How about comps? Have any similar units sold recently?
Newswalk Unit 504 [FSBO] GMAP
I recently went to an open house here and was told by the broker that the building had an assessment on it. Does anyone know what it’s for and for how long? Thank you!
Umm, good luck. I’m looking to buy in this size/price/locale but won’t be calling. I would not take this seller seriously because the place is priced way above known comps and there is no broker to blame. At least with a broker, there is a chance a low offer will be passed to a rational seller. Maybe not, but there’s a chance. With FSBO, no chance. I doubt this seller would even return the call of a buyer offering $465k, yet that seems like a much closer starting point than $565k. But who knows. Good luck!
Notice how he didn’t post any pic’s of the sleeping (and storage)loft(s)? Even with decent finishes and a cool bldg, that address and view =$470K tops.
I own a 1 bedroom co-op apartment, with an eat-in kitchen (& plenty of sun light) in Crown Heights and needed some opinions on setting a price for it. I know it’s in another area, but I still think $565,000 is way off for a studio. Thinking that for my 1 Bedroom, a price in the ball park $175,000 give or take $20,000 is fair.
Just MY/NY opinion
I’m all for not using brokers, but I think he’s dreaming w/ the $560k price.
I thought AY was good for property values? Who wouldn’t want to live near this world class nightmare of Gehry’s?
Inside scoop? Have you been living in a hole while watching the real estate?
I thought AY was good for property values? Who wouldn’t want to live near this world class nightmare of Gehry’s?
They have built in phases, and apartments are offered by sponsor when they complete a phase. Not sure if any more phases are contemplated. However, there have been recent assessments based on some shoddy work. Its a nice building, though right on the AYs, so some people are looking to get out.
I know this building very well. There isn’t an unusually high turnover there – it’s just a big building (over 150 units) so there’s always a unit or two for sale. There’s a big difference between the units that face AY and and Pacific St and those that face Dean St (which this one appears to be). The parking lot across the street is zoned R6B – which has a 50′ height limit, so even if and when that gets built out, it’s not going to blot out the sun. It’s a good building with a lot of friendly young professionals, and the rooftop deck with the playground is a great place to while a way a summer afternoon. Still, most units that I’ve seen on the market in this building have been in the $500-$600 a SF range, so the asking price of $800/SF seems crazy to me. This should be priced somewhere in the $400k – $450k range. I love the building but this is an incredible reach, especially considering the current lending environment.