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
Holy crap, there are some funny posters here.
1:14, walk-ups definitely limit the buyer pool, but I maintain a top floor, for those who don’t mind the stairs, is so much more peaceful.
1:15 and 1:20 – funny lines!!
As for tour groups, I actually like seeing the red double deckers pass along Cadman Plaza and seeing all the tourists enjoy the Promenade in BH, Brooklyn Bridge, etc. Makes me feel good knowing my nabe is of interest to out of towners.
Re: 5th Floor walk-up
I was just on the phone with my mother while I was reading this and said…mom…how many times do you walk up and down the stairs (they live in the typical 4 bed 2 1/2 bath colonial in the burbs) and she said…oh I don’t know…10 or 15 times a day at least. And she’s approaching 60, btw.
So anyone complaining about walking up these stairs a couple times a day simply wants to find something wrong and is a negative person, in my opinion.
1:22…go make an offer of $389,000 and be willing to go up to $399,000 if you can (you said under $400k). The $399 would be a 6% cut from the ask. If they priced it at $425 they should be comfortable moving it quickly at 6-10% below that. If there’s a bidding war then all these naysayers about property prices on this site need to continue to readjust their thinking!!!
This is a cute little rental for someone starting out. Not sure how good an investment it would be to buy it.
It really is very basic. People wanting to buy usually want a little more but for 370 or 380 I guess it is OK. The 500 a month maintenance is not a bargain either for such a liliputian apartment.
1:24 I wish it weren’t true, so we wouldn’t be getting all those tour groups on the weekend. But unfortunately, it’s like a parade up and down here on the weekend with people gawking and taking pictures. It’s nice to know the area is appreciated but honey, don’t tell me to settle down. Tell the looky-loos to settle down!
The apartment is ok for what it is, the kitchen (and I imagine the bathroom) could use updating. Walking up to the 5th floor is not a lot of fun (especially moving in) but since it is a 1-bed it will attract younger people without kids, so no stroller issues.
However, since it is on the top floor, instead of lovely large windows like the lower floors, it only has the small dormer windows- perhaps you get ok light, but those windows are tall, and you’re not getting much of a view (and probably not a whole lot of light either).
best block in the city….hahahahahah
Fort green lets settle down alitle bit…
If you like shopping on flatbush..
I live on the block and know some of the people who live in this building, and it’s a cool group, mostly young and chill. There’s a couple of cranks, as in any co-op, but in general, really nice energy.
I am currently shopping for an apartment right now in the studio and small 1 bedroom market. Budget of 400K or under.
What I can tell you right now is that there is VERY little on the market in this price range in the neighborhoods I am looking at…namely Ft. Greene and Park Slope.
Now I don’t know if it’s because some people are trading down or that there are more first time buyers in the marketplace right now, but I’ve been overbid now on TWO studios in Park Slope in the last month. One was asking 339K and another 375K. Both I’m guessing went for over those prices.
Those were studios. This place looks bigger and I’d be all over it in a second and put in a lower offer (although not sure I’d get it) except I am really looking for a place with a little more detail and old world charm. Some don’t care about that though.
I’ve watched the prices at the Griffin…on Lafayette not far from here. In 2006, studios were selling for 249K-275k, and those same places are now selling for about 325K or so.
So while the rest of the market might be tanking, this 400K and under market I am in seems quite ok.
I’m supposed to take a look at another studio this week in North Slope.
Just hope I don’t get overbid again!!!