Co-op of the Day: 415 St. John's Place
What’s a garden worth? That question will be implicitly answered by the sales process of this ground-floor unit at 415 St. John’s Place in Prospect Heights. The apartment itself—a two-bedroom, one-bath affair—is quite nice, but it’s asking $645,000 and is only about 900 square feet. The twist, however, is the private yard that comes with…
What’s a garden worth? That question will be implicitly answered by the sales process of this ground-floor unit at 415 St. John’s Place in Prospect Heights. The apartment itself—a two-bedroom, one-bath affair—is quite nice, but it’s asking $645,000 and is only about 900 square feet. The twist, however, is the private yard that comes with the apartment. This outdoor space is over 800 square feet. The maintenance is an entirely reasonable $750 per month. Think they’ll get their price?
415 Saint Johns Place [Corcoran] GMAP P*Shark
Sure they’ll get it – and 12:59, that financial analysis applies to anyone buying anything here now – whether house or apartment – you can always rent it now for much cheaper.
That doesn’t seem to be deterring people from buying, though, does it. And that weird “have to own” psychology we have in this country (yes, fed by federal government policy, I know) is another factor in the credit meltdown we are now in – we wouldn’t be there if people didn’t insist on stupidly buying stuff for more than the rental value (after taking the mortgage interest deduction into account), as they weren’t yet doing a decade ago.
If we were all trained with a bit more financial literacy, and stuck to fundamentals (when I bought, I considered only stuff that wouldn’t cost more than my rental on a monthly basis, after taking the interest deduction into account), then we wouldn’t be in this mess. Sometimes it pays to think smart and just say no to those offering mortgages of a type or size that aren’t smart for you.
And before those of you start chiming in that that you bought high and sold higher and made big bucks, so it worked for you, consider that you are part of the national (and global) community, and the pain of this bubble may yet be greater to you than your gain.
Geez, I’m starting to sound like the Waht…
terrible posting problems today…. again.
I like the fact that there are no stairs.
I would offer 480.
And I would make sure every window and door is protected like Fort Knox.
I like the fact that there are no stairs.
I would offer 480.
And I would make sure every window and door is protected like Fort Knox.
We’re on Prospect Pl bet Grand and Classon, so not Prime PH and our neighbor just sold his 2 bed 900sf condo for $575,000 in 2 open houses. A 1400sf duplex with very small garden went for 680,000.
I think they may get it, if the apartment is in mint condition.
400’s for a 2-bed in PH was a 2004 price tag.
Yes you may find something in this range past Franklin but that’s not Prospect Heights.
I agree with 1:50. This doesn’t look like a true 2 bedroom. The layout looks very similar to a Co-op of the day on Eastern Parkway featured last week, but with the wall between the living room and dining room moved to the left.
http://bstoner.wpengine.com/brownstoner/archives/2008/04/coop_of_the_day_107.php
Seems like whoever renovated the place already took the block into account, installing “German ‘bank security’ glass doors.”
Yeah – where are the nice PH 2-bdrms in the 400s?
Way overpriced! While PH as a neighborhood is improving everyday, this particular block still has a lot of low-income housing, noise, trash, and drug dealings. Shootings, while not commonplace, occur every few months, especially during warmer weather.
For this kind of $, one could find an nice apartment in a safer, quieter section of PH or another neighborhood altogether.