Condo of the Day: 1405 8th Avenue
This 715-square-foot two-bedroom condo at 1405 8th Avenue looks nice—and photographs well—but we’ll be surprise if it’s able to sell for the asking price of $629,000. That would translate into a valuation of almost $900 a foot which sounds like a lot for a ground-floor apartment, even one that’s just one block from Prospect Park…
This 715-square-foot two-bedroom condo at 1405 8th Avenue looks nice—and photographs well—but we’ll be surprise if it’s able to sell for the asking price of $629,000. That would translate into a valuation of almost $900 a foot which sounds like a lot for a ground-floor apartment, even one that’s just one block from Prospect Park and has monthly carrying costs of just $440. What do you think?
1405 8th Avenue [Brooklyn Heights RE] GMAP P*Shark
jwald:
Was just for the sake of argument. I really have no idea how much it costs to renovate a kitchen.
Is the bridge granite, and does it have recessed lighting?
Is it a Bosch bridge?
This place has been on the market on and off for almost a year, with the same renovated kitchen, same plain vanilla bathroom, same small dark bedrooms on the ground floor on the street. Actually, the rental metric is valid, and you will find kitchens of this caliber in small two bedroom apartments for 2800 or thereabouts, and slightly larger, on side streets even, that are quiet. We can argue the price until it sells, and then we’ll know, but so far it hasn’t sold. Speaking of which, mortgage rates just ticked up today by 1/4 point, which isn’t going to sell this particular place any faster. Oh, by the way, if 50k is a good deal to renovate that kitchen, then I have a bridge to sell you…
There’s no way it cost $50k to renovate that “kitchen”. It’s only one short wall! Just saying.
What’s wrong with being near the theater? It’s not *that* close that you would get crowds wandering by.
And I don’t think many people would pay more than 2800 for this rental. Granted, I actually like sun and high ceilings. But I pay less than that – just under 2700 – for a much larger (but not recently renovated) brownstone floor-through on 8th in the N. Slope, with outdoor space and very near the 2/3 train. I know opinions differ greatly on the matter, but I think our location on a nice leafy street is better than this location. Also, I wandered into the Armory to ask a question and the women there were seriously nasty to me.
$50K to renovate a kitchen? As long as you do it yourself.
11217, I may be a maverick, but square footage over appliances anyday. I actually wonder if this would do better marketed as a 1 bedroom? The location is good, and some people like ground floor. If you’re working all day, light isn’t really an issue. Also, my rental has nice finishings too. It is also larger and cheaper.
small small small small small