Co-op of the Day: 7 South Portland Avenue, #5A
Stunning building, mediocre apartment. That kinda sums up the situation with this fifth floor co-op at 7 South Portland Avenue. The 7,000-square-foot, 8-unit building is on what’s been called the
Stunning building, mediocre apartment. That kinda sums up the situation with this fifth floor co-op at 7 South Portland Avenue. The 7,000-square-foot, 8-unit building is on what’s been called the best block in the city. Bereft of historic detail, the apartment, however, has a boxy, 1980’s vibe to it. As for the $425,000 asking price, guess it’s possible but wouldn’t be surprised if it came in a little under $400,000. Waddya think?
7 South Portland Avenue [Brown Harris Stevens] GMAP P*Shark
I lived in a fifth-floor walk-up for my first eight years in this city and I was in perfect physical shape for running up exactly four flights of stairs — but if I visited a friend in a sixth-floor walk up, I was winded when I got there. You adjust. Only someone young is buying a place this size, so I wouldn’t worry about it.
That said, I know of a walk-up co-op where the number of shares for each floor was slightly less than for the floor above, so that each floor paid less in maintenance that the floor below.
Very interested in the “value of the floor” discussion. I bought last year on the ground floor of a 4 floor walk up and a unit on the top floor will become available next month. Wondering how much that would go for. I figured about 25-50k less than what I paid due to all the stairs. No roof rights up there either.
I like living high up in walk ups. the view is better and the chance of your apartment getting jacked is much lower.
“They’re asking 1000/psf. A little high, no?”
The apartment is 550 square feet.
That is $772 psf.
Your lack of math skills leads me to believe that is the reason you are still a renter.
I went to see this place at an open house last year and it’s nice and on a great block and I’m used to tiny spaces, but one thing that got me is that it’s like an attic and the windows are set back a little from the building.
and 500K in 2011.
4th floor walk ups – with groceries, bikes and all – didn’t phase me at all in my 20’s and 30’s – and I lived in a few of them for years. They were very light and fairly quiet. In my 40’s however, I didn’t want it anymore. At 50, living in my first elevator building (still top floor, light and quiet) and loving it.
They’re asking 1000/psf. A little high, no?
$375k this year, $325k next year.