Condo of the Day: 114 Gates Avenue, #2
Overall, this brownstone floor-through apartment at 114 Gates Avenue in Clinton Hill has a nice feel to it. The kitchen is a little low-budg and we’re not big fans of baseboard heating, but the place still has its original floors, fireplaces and moldings and has a light and airy feel to it. The monthly common…
Overall, this brownstone floor-through apartment at 114 Gates Avenue in Clinton Hill has a nice feel to it. The kitchen is a little low-budg and we’re not big fans of baseboard heating, but the place still has its original floors, fireplaces and moldings and has a light and airy feel to it. The monthly common charges at $244.56 are extremely low and make the asking price of $599,000 well within reach, we think. Then again, we’re a little biased since we own a very similar building a couple of blocks away and wouldn’t mind a sales comp that valued each floor of our house at close to $600,000.
114 Gates Avenue [Brooklyn Properties] GMAP P*Shark
Oh Nomi, do I know you? You already know my inside jokes.
This is a one bed room – ok its got a wall, but seriously, I’d say 400K max. And even then, I think its high.
IMO, some real estate brokers tend to consistently ask far above a reasonable price.
Maly, thank you.
So, you’re saying there’s no there there? 😉
It’s a cute floor through that I’d happily rent for about $2K a month, which would seem expensive, but reasonable.
However…
there was a new condo brownstone building about 2 doors up from the community garden next to PS 11 (and zoned for ps 11, which this is not) that had 2 bedroom floor throughs going for about $550K. Honestly, that seemed expensive, and I think they were bigger. Definitely had nicer kitchens.
Nomi, in a boom with loose credit rules, it makes sense to carve extra bedrooms, as a generous (or clueless) appraiser will give a higher value to a 2 bedroom apartment, everything else being equal. If credit is the upper limit to the “value”, people will spend more on 700sf 2-bedroom than they would on a 700sf 1-bedroom. In a more conservative market, 700sf are 700sf are 700sf (apologies to Gertrude Stein’s ghost.)
Omg, BHO, you are . . .. I don’t know what you are.
Anyway, yeah, this could be a sweet place, but I completely agree that forcing it into being a two bedroom when there’s really not proper space, is . .. well, it’s turn-off to me. I can’t really speak to whether a two-bedroom like this is actually more marketable than what this could be as a one-bedroom plus.
It it, anyone who knows?
The whole goddamn brownstone’s gonna be going for close to 600K when the crash is all said and done. Are you fucking kidding me? Then some of you throw around figures like 400K!? It doesn’t get any more retarded than this.
1-2K/mo (min to max rent) x 10 x 12 = $120K min to 240K max will be the bottom-of-the-market range for these types of apartments.
And that is NOT a low common charge after utilities and taxes!
***Bid half off peak comps***
i’m familiar with that inside of that particular brownstone, and while it’s been cosmetically refurbished, there’s still a lot of stuff that needs to be redone that makes the $600k price tag more than slightly unreasonable.