Co-op of the Day: 175 Eastern Parkway
We’ve always had a thing for this six-story, 78-unit limestone co-op at 175 Eastern Parkway, whose facade is set at a 45-degree angle to Eastern Parkway right across from the Brooklyn Museum. Apartment 4J, which just came on the market as an FSBO, is a 1,000-square-foot two-bedroom that is attractive in a classic, understated kind…
We’ve always had a thing for this six-story, 78-unit limestone co-op at 175 Eastern Parkway, whose facade is set at a 45-degree angle to Eastern Parkway right across from the Brooklyn Museum. Apartment 4J, which just came on the market as an FSBO, is a 1,000-square-foot two-bedroom that is attractive in a classic, understated kind of way. All things considered, we think the asking price of $595,000 seems pretty reasonable.
175 Eastern Parkway [Craigslist/FSBO] GMAP P*Shark
If it hasn’t started going down with the meltdown over the past year, but is still going up, that means there is still demand, and some areas are clearly somewhat insulated. Doesn’t mean it won’t fall a bit though when reality hits. It just won’t be all that dramatic.
1:16 is a fool. 400K would be for a 1 BR in this bldg.
I’d offer 550K, if I was interested.
I don’t think it will go down that much in nice neighborhoods in NYC. I sold 1200 sq. ft. P.S. coop a year ago, and as I see prices/sales in P.S. now, I’d put it on the market for 270-300K more if I were selling today, and likely get close to that.
“All signs point to 50% price drops in nearly all NYC real estate in the coming years.”
I agree. Although difficult to imagine at the slow rate prices are apparently falling. But who knew prices would triple from 1995? We were suprised on the way up, we’ll probably be suprised on the way down.
yeah, 1:18, if you can figure out a way to turn the clock back, be my guest.
1:18
What is the point?
I remember when Bernstein’s on Essex was open and served great Kosher Chinese.
I also can go to the way back clock and discuss looking at a house on Wyckoff St. in Boerum Hill that was for sale for $200K, but that doesnt’ change anything.
Oops, hit post before finishing my point. What 1:16 says is not untrue either, but renting vs. buying has been completely out of whack for a few years now… the only new thing is with the tightening credit market people seem to be suddenly aware of it.
All signs point to 50% price drops in nearly all NYC real estate in the coming years.
I remember when I could have gotten a 2 bedroom facing the museum for 40k in this building back in 1996…..