Condo of the Day: 409 3rd Street
Third Street in Park Slope, with its width and grand houses, is certainly an impressive stretch. That doesn’t mean, however, that an attractive, but far from spectacular, floor-through apartment will be able to fetch $1,000 a foot. The second-floor apartment at 409 3rd Street, which is asking $1,199,000, has some nice prewar charm, to be…
Third Street in Park Slope, with its width and grand houses, is certainly an impressive stretch. That doesn’t mean, however, that an attractive, but far from spectacular, floor-through apartment will be able to fetch $1,000 a foot. The second-floor apartment at 409 3rd Street, which is asking $1,199,000, has some nice prewar charm, to be sure, but the bathroom and kitchen are definitely a little tired and the layout feels like a cluttered maze of little rooms to us. The broker’s use of gross square footage to hype the place rubs us the wrong way as well. (He states a gross square footage of 1,337; PropertyShark uses the figure of 1,098. After all, you can’t sleep in the common hallway!) We think they’ll be lucky to get $1,050,000.
409 3rd Street [Corcoran] GMAP P*Shark
I don’t dispute that there are plenty of people moving from Manhattan to PS to buy. That does not mean that these same people become stupid when they cross the river. The point isn’t Park Slope vs. the Upper West Side. That comparison is irrelevant. Try comparing this apartment vs. other comparable Park Slope apartments and you will see that this particular place is grossly overpriced. Anyone with internet access can figure out that there is better value for money elsewhere in Park Slope/Cobble Hill/Brooklyn Heights. No neighborhood in Brooklyn has hit $1000/sq ft yet.
(In anticipation of the brokers who I know will attempts to refute this claim – I’m sure there are an outlier or two out there at $1000 sq/ft but current listings aren’t even close to this yet on average – and we all know there aren’t many apartments selling above ask these days).
park slope, brooklyn heights, upper west side, whatever… the apartment is a thumbs down.
i have looked at a bunch of these over the years, and they always feel really small, cramped, old fashioned, and lack any kind of feeling of being comfortable to live in.
you can get 1000 sq. ft in a new condo with a way better feel.
also, the gross window a/c units are simply not for grownups.
ugly building, ugly apartment. would discount it at anything above $500K.
it’s not nice! it needs work + it will always have a crap layout.
this will go easily.
places like this are in demand in park slope, bigtime.
probably will be bought my a small family already in park slope.
no need to panic.
1:44 is correct on all points.
1:35 again. I guess what I”m saying is that this would not be listed at 1.2mm if it were in CH or BH.
Manhattan is Manhattan, period. This is not Manhattan.
These long, streched out brownstone apartments (longer because they were built as 4 or 8-unit buildings, not single-family) are in demand, because they have the charm of brownstone apartment living, with lots more space than those floor-thrus made from carved up single-families. They make lovely apartments. (Those looking for brownstone apartments know about the narrow width of some brownstone rooms, and aren’t deterred.)
The much lower maintenance on larger brownstone coop apartments (compared to larger buidlings with staff and elevators to maintain) makes them more affordable. The fact that this one is a condo is a big plus to the buyers, in my opinion, as they don’t have to get board approval, and can likely rent out their unit if they want.
I don’t know what it will go for, but it definitely go for at least close to a million, and I wouldn’t be surprised if it went for over one million.
So this floor-through that’s been chopped up is really a 2 bedroom apartment. $1+ million for a 2BR?
I’d put this in the 900K range, probably 950K. I’d also redo the layout so that the little bedroom off the living room was a dining area and use the dining room/home office as a bedroom so that all the bedrooms are in the back together. The back small room is tiny, but that’s par for the course iwth an old walk up building.
1:35….cobble hill and brooklyn heights are more expensive than Park Slope. And Cobble Hill was a pit 10 years ago.
So how is it that Park Slope has gone “too high, too fast” when things have gone higher and faster in BH and CH.
Why would anyone spend a million bucks for a place near a deserted downtown and a bunch of Johos as compared to a million to be near the best park in NYC on the nicest street in the borough?