Condo of the Day: 255 Eastern Parkway, #C16
We’re so bullish about Eastern Parkway in the long-term that we won’t make too much of the fact that this 1,438-square-foot apartment at 255 Eastern Parkway, which sold for $216,313 in 2003, is now on the market for $825,000. To be fair, that’s not a straight-up four-bagger; the three-bedroom place has gotten what appears to…
We’re so bullish about Eastern Parkway in the long-term that we won’t make too much of the fact that this 1,438-square-foot apartment at 255 Eastern Parkway, which sold for $216,313 in 2003, is now on the market for $825,000. To be fair, that’s not a straight-up four-bagger; the three-bedroom place has gotten what appears to be a top-notch renovation in the meantime. The only thing we can find to complain about is the choice of kitchen counter top surface. The combined monthly charges are a very reasonable $836. There was an open house yesterday. Anyone go?
255 Eastern Parkway [Corcoran] GMAP P*Shark
Can anybody comment on why the common costs are higher here than most other condos?
Househunt,
Because I just told you that the rent is more like 4k a month and with the mortgage deduction, you probably will pay more to rent this place than own it when all is said and done.
Especially if you put in a lower offer and try to snag the place for 799 or so.
Polemicist could probably choose his/her language a little better, but the message that Eastern Parkway is not prime holds true. I lived in 277, was mugged in front of 255 in January, saw another guy get mugged fifty yards towards Franklin several weeks later, and moved out not long after. Buyers should be aware that it’s a hot neighborhood for reasons other than real estate prices.
This isn’t about counter tops or paint jobs, but location and cost. There are comparably sized apartments in Carroll Gardens and Cobble Hill that cost the same per sq ft. Besides, nearly $900 monthly for a condo? Why own? If you can rent for 3,500, why pay 5000 (your mortgage plus cc and tax)?
Yeah…Charlie Rangel
And the upper west side has no RS residents? (I know plenty of people on both the UES and UWS who live in rent stabilized apartments). Think of all the anti-social tendencies those folks have.
Polemicist is right to some extent: if the average RS rent is $900 (a total guess–I know of RS rents in Bed Stuy and Crown Heights that range from 900-1200) it does mean that the rate of increase will be slower until a majority of them approach $1700-1800, when the dollar amounts of the percentage increases will be fairly high, and push them into non-stabilized land. Is this a bad thing? I don’t think so.
Mr B…from now on please don’t post a HOTD or COTD without first verifying the exact name of the granite used. This also should be extended for any marble in the bathrooms as well. God knows what you get mixed with those gold faucets!!
Full disclosure is now also recommended for any recessed lighting.
I agree tih daveinbedstuy, I’ve seen some nice dark green granite countertops. Needs to be dark though, otherwise it can look odd.
hey daveinbedstuy:
I certainly don’t condemn granite at all—I have it in my place and like it. I simply don’t like the striations/colors in some granite.
Lately I’ve been really digging Caesarstone. Next kitchen i have gets it.