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 think brooklyn was undervalued for many years.”
Perhaps. But I would venture to say now that it is now overvalued. Or rather, overpriced.
that’s why it’s called an asking price.
you want the place for a million? make an offer.
learn the difference please between asking price, offer and final sale price.
i think brooklyn was undervalued for many years. it has now almost caught up to where it should be, considering the proximity to manhattan. there are also lots of people who now prefer brooklyn over manhattan. i think prices are starting to reflect that.
Though many of you PS residents deny ever wanting to live anywhere else and claim that PS is the best place on earth to live, most of you concede that Brooklyn Heights is higher priced. So looking at a listing that just went into contract
http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1120176
The last ask at 1,075,000 according the streeteasy is less than the ask for this POS. The maintenance on the BH is about twice as high, but I think the trade off for one block from the subway with a full service building is worth it since that will include all the things the previous poster pointed out. So its not a brownstone but it is an older highrise with lots of interesting features. 2 bedrooms with 2 full baths and close to 1500 sq ft in central BH for less than this whale shit. I think all you guys who keep screaming this is a buy have put your apartments as an asset in Quicken and don’t want to see your net worth drop in those pretty graphs.
I don’t think we’re going to see rock bottom prices (and I’m already an owner, so no “bitter renter” flames please) but lately there seems to be some weird last gasp desperation happening with some of the prices I’ve seen that don’t seem tied to comps and/or reality. 900-1mil is a generous price (certainly not “rock bottom”) for an apt with only 1 bath, no outdoor space, and probably at least some freshening up to do. I agree that this does not need tons of money to renovate, and the apt has its merits, but 1.19 really seems like overreaching, especially given the current climate.
the economic “meltdown” which may or may not be averted, does not mean than now all homes in prime areas have suddenly lost half their value overnight.
a million for a nice apartment in park slope is still a pretty good value.
you all need to look around. places like phoenix, las vegas and florida have already had major price corrections, but there are still plenty of million dollar homes in all of those cities to be had.
listen…keep waiting for that bargain if you want.
but anyone who thinks we are going to see rock bottom prices in park slope are dellusional.
I’m amazed that no one has mentioned the huge economic meltdown of the last week – panic in the markets worldwide, largely the result of ever worsening news from the housing sector. And then folks blithely talk about how this apt should be worth nearly over 1.1mil? Doesn’t anybody think the current economic climate could affect prices?
When I recommend that folks look at options, I assume they are intelligent people who realize that if a certain area or neighborhood is prohivitively expensive then they should take their business elsewhere. Do not lock yourself into one neighborhood or even worse, one section of one neighborhood, that is not smart. It is not practical.
your just have a deal on your rent. And your apartment is probably in a very bad shape.
We own house with 2 apartments like that one.
I follow rental market closely. Current rent for our apartment would be slightly over 4K if we rent it today.
Of course it is in a very good shape, more original details and had half bath and w/d in the space where they have “possible second bathroom” on the plan. But it does not make for 1.5K difference.
I think it was mentioned that that particular apartment was rented for 3900 a month last year.
I rent an apartment like this one near 1st Street and 5th Avenue for $2500 a month.
Why on earth would I spend over twice as much for month for the same apartment?
It’s craziness.