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 would say the average maintenance in park slope is about $750 per month, so for every $100 below this amount is worth about $17k based on 6% interest rate. In this case then the $560 maintenance is worth about $32,300 to the overall price of the apartment which should be reflected in the price per square foot. I would say $909k should get it done.
I haven’t met a homeowner yet who’s purchased a house north of 1mm who’s spent 400 a month to maintain said house….that 400 better include heat.
Park Slope is getting softer by the minute… snuggly soft.
I love how they throw in the word “awesome” into the description.
I’d rather be in cobble hill or brooklyn heights for 1mm. I don’t engage often in the Park Slope discussions, but I have to think that this neighborhood has gone too high, too fast. It just doesn’t feel like a smart bet to put down 1mm+ for this place.
I agree without other amenities such as a wood burning fireplace and private or shared outdoor space, I think the max price would be $700/sq ft. I think the real size of the apartment is 1250 square feet and should therefore sell at $875k.
Two of those three bedrooms are minuscule jokes. The bathroom is also tiny.
The place is listed as a condo, hence the low monthly charges, so you get none of the benefits of being in a co-op.
And this isn’t even one of the nice stretches of 3rd Street.
3 strikes.
I suspect this place will go somewhere in the $800-850k range.
Comparing Park Slope to the Upper West Side or Manhattan in general is not stupid. Sorry, but it’s not.
I and most of my friends moved from the Upper West Side (renting) to buy in Park Slope.
Why is it not important to discuss that for a million dollars you get a 1 bedroom on the Upper West Side and for the same 1 million you get a 3 bedroom on the most beautiful block in Park Slope?
I don’t get it. I certainly know that I much prefer Park Slope. If you gave me 10 million bucks right now, I wouldn’t leave Park Slope, so why is talking about the difference in price not important given that a huge amount of the new residents in Park Slope are moving from Manhattan??
1:07…here’s what 1.1 million gets you on the upper west side.
http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1164921&ohDat=1/27/2008%2012:00:00%20AM;
not a whole helluva lot. and the maint is over TWICE what this place is.
i think it’s easy to see why these places get top dollar for brooklyn, when 700 sf 1 bedrooms go for a million in most parts of manhattan these days.