Co-op of the Day: 50 Plaza Street East
People seemed quite positively disposed to the listing at 255 Eastern Parkway we discussed last week. The 1,600-square-foot apartment is on the market for $799,000, which makes today’s co-op of the day an interesting comp. Located on the other (more expensive) side of Washington Avenue, this penthouse classic six at 50 Plaza East is similarly…
People seemed quite positively disposed to the listing at 255 Eastern Parkway we discussed last week. The 1,600-square-foot apartment is on the market for $799,000, which makes today’s co-op of the day an interesting comp. Located on the other (more expensive) side of Washington Avenue, this penthouse classic six at 50 Plaza East is similarly sized but with far more pre-war detail and exceptional views. The price tag of $949,000 however reflects some of these advantages. We expect that they’ll both find buyers without too much difficulty but are curious to know which you think represents a better buy in this market.
50 Plaza Street [Corcoran] GMAP
This building is badly managed. There has been scaffolding on the front and side for the past two-plus years, with no exterior work being done (that we’ve seen) in at least the last six months. One of the lower balconies looks to be badly damaged, and has been covered by a blue tarp for as long as we can remember. Graffiti covers many parts of the ground floor exterior. Buyer beware!
as anon 2:40 said, there aren’t many options in this price range. i’ve seen it, and sure it’s not perfect, but i think it’s well priced. the location really is superb, it has lots of things you don’t always get (w/d in the apt, bike racks, storage), and when i looked at another apartment in the building, the maintanance was 50% deductible.
949 with $1330/mo maint. wow.
everyone can talk about the market,
but I always think it’s best to look at
the value. OK, that’s a typical price tag
these days, but what are you getting
for your $? A 1330 main. for this building
is absurd. It’s not “luxury”, more the result
of a crazy Co-op board.
But, as someone in the market looking for
a spacious 2 bed, I can tell you, there are not many options. Inventory is horrible, esp in this budget.
It will be interesting to see what this goes for, I predict an “8” as the first number.
Any idea of how many hours per day a doorman is on duty? How big is the maid’s room in this Classic Six?
Ditto what Anon 12:35 said. I saw this a number of weeks ago when it was priced at 995K. Besides the awkward layout and old bathrooms, I wasn’t impressed by the views. I was thinking sweeping open views on the PH floor, but the only rooms with views are the living room (the side-by-side windows are not huge) and the master bedroom. Can’t tell from the pictures if they’ve repainted the dining room since I’ve been there – it was a very unpleasant metallic grey-beige.
just saw an apt in Brooklyn Heights with v. similar layout and it went to contract after 1 open house. they were asking 1.45mm
This a two bedroom with office, not a 3 bedroom. 950K for a big 2 bedroom is quite high in today’s market. I’d say this is most defintely not a good buy.
This was originally listed at 995k and has sat on the market for over 2 months. The 3rd BR is very small even for a maid’s room and the layout is inconvenient with the narrow galley kitchen separated from the dining room by the maid’s rm and tiny 1/2 bath. Bathrooms are small and need upgrading.
$1330/mo. for maintenance…ouch.