Co-op of the Day: 160 Henry Street
This co-op at 160 Henry Street in Brooklyn Heights ain’t for the faint-of-pocketbook. Even if you decide that the $3,250,000 asking price makes sense for this five-bedroom prewar pad, you’re still going to have to find a way to come up with 50% of that in cash. Building rules, sorry. (While it’s a high barrier…
This co-op at 160 Henry Street in Brooklyn Heights ain’t for the faint-of-pocketbook. Even if you decide that the $3,250,000 asking price makes sense for this five-bedroom prewar pad, you’re still going to have to find a way to come up with 50% of that in cash. Building rules, sorry. (While it’s a high barrier to entry, it’s also part of the reason you won’t see a whole lot of foreclosures in co-ops like this.) No square footage stats are provided, but given that the monthly maintenance is a cool $3, 845, you gotta figure it’s at least 3,000 square feet, right? Before you start guffawing, keep in mind that a unit on the eighth floor sold for $2,745,000 last summer and financing won’t be an issue given the high downpayment.
160 Henry Street [Brown Harris Stevens] GMAP P*Shark
5:40 – you clearly don’t know many “rich” people, nor do I guess do you know too many people who actually live (well) but within their means.
There are plenty (relatively) of people in this city who make 500-1M a year, who have an apartment that has appreciated a ton, who now have kids and want to stay in the city. While they can definetly afford to buy the 3M apartment, and probably can afford private school, they don’t have so much left over after all that to go and also live the lifestyle being described here.
I do not know a single rich person who owns a two or three million plus residence in the city that does not also have a summer or weekend place. I just don’t. I think there is no such thing as just barely affording a 3 million dollar apartment. If you can buy such a place you are in the ruling class and you are not struggling to find a time share on Point Pleasant for the summer. End of story.
5:09 – excluding the value of their apartment – I am willing to bet you my net worth that you don’t know what the f you are talking about.
and 5:14 – yes thats people ‘perception’ but regardless of perception – the number of people who can afford this 3M apartment yet cannot afford to also have numerous vacation homes, a “staff” and private school for 3kids far far exceed the number who can.
On some level it is nice to see how naive many people here are as to how rich some people in this world are.
5:14, I agree with you completely, the only term more meaningless than “price per square foot” is “American middle class”.
The NY Times was one of the first to refer to filthy rich people as middle class while also referring to poor working people as middle class. The real middle class is largely invisible to the NY Times and so it does not have a real term for them except perhaps “suburban voters”. It is also interesting that it is the real middle class that most politicians have in mind when they talk about “taxing the rich”.
Here’s how it works. Everybody thinks everybody who can afford more than them is rich. When you are young and/or poor and rent, someone owning a nice apartment seems rich. When (if) you get to that point, it no longer seems so. Then, it’s the people who have whole houses who seem rich. Then (if) you get there, it doesn’t seem so. And on up, up.
That’s why people who use the term “middle class” in this country to describe themselves include everything from the working poor (who wants to call themselves working poor, or “working class” these days?) up to the very rich (who wants to call themselves “upper middle class” or “filthy rich?”)
I don’t see why people who automatically prefer PPW over Henry/Pierrepont. DOn’t think the post was dumb
The average wealth of the residents of this building exceeds 10 million per unit.
3:18 – the fact that ONE resident lives that lifestyle hardly means that the market for such an apartment is limited to such people and
3:26 – I believe I said anyone who could afford this apartment is rich – what I am talking about is lifestyle – and the lifestyle (and concerns that someone living that lifestyle would have) that people here were describing seem to be far above the means of the “average” person who could afford this apartment.
Agree with 1:30, a lovely apt, but if I were going to spend that dough in BH I better have a harbor view.