Co-op of the Day: 81 Ocean Parkway
Why are sponsors so consistently incapable of doing a sensitive renovation? A coat of white paint, a few gallons of polyurethane and a Home Depot kitchen and they’re done. At least in the case of this three-bedroom, two-bathroom place at 81 Ocean Parkway in Kensington the apartment had some good bones that even a sponsor…
Why are sponsors so consistently incapable of doing a sensitive renovation? A coat of white paint, a few gallons of polyurethane and a Home Depot kitchen and they’re done. At least in the case of this three-bedroom, two-bathroom place at 81 Ocean Parkway in Kensington the apartment had some good bones that even a sponsor couldn’t mess up. And given the asking price of $575,000 (and low monthly maintenance of $743), we bet buyers will be willing to swallow that eyesore of a kitchen.
81 Ocean Parkway [Brooklyn Properties] GMAP P*Shark
2:52 – you don’t understand the difference between a coop and a condo. Co-op maintenance in such a building includes stuff your common charges don’t – the real estats taxes, the hot water and the heat (which you undoubtedly have as your own utilities if your building is new), insurance on the building (owner just buys really cheap rental-like insurance on personal possessions and new fixtures), the underlying mortgage on the building (which can be a handy sorce of reserve funds, as a coop can refi or take out a mortgage, which a condo board can’t.) Add all that up for your apartment, and this apartment’s maintenance costs are likely less than your condo. (Unless your condo has real estate tax rebates going, which it probably does to have common charges that low – but then it isn’t exactly a fair comparison, as that will expire someday. Still, UNTIL the tax rebate expires, a condo with abated taxes can be a much better deal, that is true, but not quite as much as it seems when you add in the other stuff like insurance and utilities, as noted above.)
And to those who do understand the difference but think it is high, it is NOT high at all for a 3-bdrm in a building that has to maintain an elevator, a management company, and some staff (to clean and such, a super, even if there is not doorman), that is to say, NOT a brownstone coop. It is about as low as it gets for that much space in a big elevator building.
And before everybody starts in, I am NOT a broker, or pro-broker, just a coop owner – brownstone, in my case, but I looked at tons of apartments, in all sorts of buildings, so I know what I speak of.
But you’re mere steps away from Prospect Park at this apartment — cyclist? Runner? You’ve now died and gone to heaven living here. Just a matter of time when cars are banned altogether from the Park roadway.
ice cream sandwichs in all bodegas cost 25 cents. welcome to brooklyn 2:29
Am I the only one who thinks $743/month for maintenance is insane? I live in Windsor Terrace in a condo and the maintenance is $250 for me and I am a 3 bedroom and it is a fairly new building.
Kitchen= Who would place the fridge and stove directly opposite each other in a galley kitchen? Maybe that’s why they are not installed in the photo.
I live in Kensington, in the part that’s west of Prospect Pkwy/ Ocean Parkway. In response to 1:24, there is no Starbucks, Barnes & Noble, Whole Foods here. The closest cinema is a 20 minute walk to the Pavillon in Windsor Terrace
However, there is a public library branch with children’s activities at Ft. Hamilton & East 5th Street, a community garden (same location), active church communities (if you’re into that. On Church Ave between Ocean Parkway and MacDonald (the “F” train) there are family-run greengrocers, butcher shops where food is cut to order instead of shrink-wrapped in styrofoam, a Polish sausage-cheese-beer shop, a couple of inexpensive coffeeshop/diners. There is also pizza slice place & a modern little thai restaurant on Fort Hamilton. The ice cream sandwiches at the corner store cost 25 cents. What kid wouldn’t dig that!!!
We were going to look at apartments in this building, but after doing some quick online research, we passed. There are quite a few apts for sale in the building (both sponsor and non-sponsor), and seems to not be much around as far as restaurants and food shopping. I also read about the 22 Caton situation, as well as that they might not be happy with their current management company. All of it put together just left a tinge in my gut.
They do have an active message board on Yahoo!, so you can get somewhat of an inside scoop:
http://groups.yahoo.com/group/81OP/
That part of Ocean Parkway is the service road of the Prospect Parkway, which is in a deep trench. So it’s not nearly as noisy as in the parts where all that traffic is at grade. There is that new developmnet behind it, which is a drag.
It’s nice if you like being near the park, library, playground, but not so nice if spending money at cute boutiques and trendy restaurants is a priority.
is this in queens?