Co-op of the Day: 115 Eastern Parkway
Although this duplex at 115 Eastern Parkway doesn’t feel particularly old-school, the apartment is atop a lovely prewar building overlooking the Brooklyn Museum. The most eye-catching element of the place is a large roofdeck—unfortunately, it’s off one of the two bedrooms on the bedroom floor not the living floor. Not surprisingly, there’s a ton of…
Although this duplex at 115 Eastern Parkway doesn’t feel particularly old-school, the apartment is atop a lovely prewar building overlooking the Brooklyn Museum. The most eye-catching element of the place is a large roofdeck—unfortunately, it’s off one of the two bedrooms on the bedroom floor not the living floor. Not surprisingly, there’s a ton of windows and natural light. It’ll be interesting to see how the $799,000 asking price and $1,121 go over with buyers. Guess it depends on what kind of a dollar value you put on the outdoor space.
115 Eastern Parkway [Brown Harris Stevens] GMAP P*Shark
800 Square foot 2 bedroom apartments in my new construction building are renting for $3K/month and they only have access to the common roofdeck via stairs. I actually think this place looks pretty reasonable, considering all that outdoor space.
What are 2 bedrooms in Turner Towers selling for these days?
I just want to say that I always respect what you have to say Fjorder. Your comments are always very thoughtful. The kind of person that someone looking for information and advice from this website should look towards instead of some of the other registered people who add nothing but nonsense to this site (Daveinbedstuy, Biff, etc).
Thanks for always being so consistent. I appreciate it.
Nice layout and great outdoor space. Not too hot on the galley-style kitchen or the $1121 monthly maintenance nut (unless it comes with a membership to the Eastern Athletic Club down the street!). Comments that it’s overpriced by $200k are just silly. This bldg is steps away from the park, subway, botanical gardens, park slope shopping, PH bars and rest, etc. I’d offer $739K and keep my fingers crossed.
no way in hell this rents for 3800.
We know someone in one of these big apartments on Eastern Pkwy and the layout and features are very good. At half the price of a prewar or house in Park Slope. That’s why they sell despite the nutty maintenance fees.
Some people seem to have gotten REALLY out of touch with rental prices. If you’ve got a deal on a place, that’s great for you, but the average rent on a studio in Manhattan is 2000 and 3100 for a 1 bedroom. Of course those number are lower in Brooklyn, but someone renting a 1 bed in Manhattan really isn’t going to pay too much more to BUY a 2 bedroom in Brooklyn. That’s why people are moving here in droves.
Up until 2 years ago, I was paying 2000 a month for a very small 1 bedroom in the North Slope. Rental prices in this area have skyrockted. Do a little hunting…you’ll see what I mean.
I can absolutely see this selling for this price. Especially with it a block from the new multi gazillion dollar Meier building…
I think this is well-priced. Usable outdoor space is a major draw for many buyers.
This place rents for $3800 a month.
$700,000 mortgage at 7%, after tax rebate, is about $3000 a month in interest (not including any payments on the principal).
With a $1200 maintenance, that brings you up to about $4200 per month in carrying costs — not including upkeep expenses, etc. This place would rent for less than $3000 a month.
It doesn’t make sense for anyone to pay 30% more to buy, unless they expect it to increas in value (which it may, or may not). So, price needs to come down some, probably about 15-20%.