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
this apartment was previously listed for 450K last fall, and sat for quite awhile before the cut. nice building in great location, but prices are dropping…
When I bought a second floor (of 4), floors 3 and 4 had just sold recently – and each floor got a little more pricey you went lower. The broker told me that’s how it usually went (news to me, as I prefered top floors for the quiet and light.) May have just been broker-speak, but I think she was right as these things generally go. (I sold for more than the third floor did too, just after it sold.) The difference you speak of in your place was probably due to roof rights – they are worth a lot if you have plans to build a deck and spend time up there (they weren’t assigned to anyone in my building). It is hard to compare apartments, because all renos tend to be somewhat different from each other.
As I was getting older and my knees less amenable to climbing – I passed on floor 4 (might have taken it if it had W/D in it, but the fact that they were all the way in the basement put me off.) Never regretted going for the second floor instead – although I had some noisy neighbors above wake and keep me up some nights, and my knees have recovered and are fine now, I find that groceries, laundry, luggage, and everything else one lugs, only get heavier as I get older.
And I passed on a similar apartment to this in P.S. when I was looking – no way I wanted a 5th floor! It did sell, though, to the right buyer.
Though I missed that there was a shared garden above this one – if it was directly above this apartment, that would lower its value to me – you hear people on decks when they are right above you.
I lived in a 4th floor walkup when I was in my early 20s and I have to say I hated it. Hauling laundry, groceries and my bike was such a pain. Never mind the few times I was in a drunken stupor and climbing those stairs was barely manageable. Now that I’m in my late 30’s there is no way I would live in a walkup.
I prefer non-elevator/doorman buildings myself.
Yes, but I live in a building with an elevator.
Given that a few posters seems to be saying that studios are selling for around 350K, I think it’s fair to say that this should sell for over 400K..
No?
Ok, can we settle this floor issue? Clearly some people thing lower is better and some think upper is better. Who on here lives in a walk-up coop building where upper floors sell for less than lower floors? In mine the top floor apts with the same layout sold for $50k+ more than the lower floors sold in the same 6 months, but the top floors have exclusive roof rights. Anyone have examples of identical apts selling on different floors in the same year?
I don’t think it will sell for over 400K
no way.
In the apartment’s defense, it is really only 4 flights, and one of them is the outside “stoop”.