Co-op of the Day: 179 Ocean Parkway
While the kitchen isn’t exactly doing it for us, this convertible three-bedroom at 179 Ocean Parkway in Kensington looks like a reasonable way to pick up a family-sized pre-war apartment for under $500,000. (The asking price is $459,000 and the monthly maintenance is $703.) Think this is a good deal for 1,200 square feet? Any…
While the kitchen isn’t exactly doing it for us, this convertible three-bedroom at 179 Ocean Parkway in Kensington looks like a reasonable way to pick up a family-sized pre-war apartment for under $500,000. (The asking price is $459,000 and the monthly maintenance is $703.) Think this is a good deal for 1,200 square feet? Any readers live in this building? Sweet lobby.
179 Ocean Parkway [Corcoran] GMAP P*Shark
hard work in a specific field or direction that is.
hard work alone doesn’t get you rich, ask my old parents.
It never ceases to amaze me how unaware many of the people on this site are about how fortunate they are. Through hard work, inheritance, luck, whatever, if you have a high income, good for you. But based on 2006 data less than 10% of households in New York City earn over $150,000 a year. To most of that 90% who earn less, a $459,000 apartment is not “affordable.”
We now return you to our regulary scheduled real estate porn circle jerk.
“I’m considering Kensington. But, from what I read re: this apt, I suspect the noise levels will be pretty high facing Ocean Parkway.”
Yep and that is why it’s 459K and not 1.2 million as it would be on a quiet block of PS. Heard the phrase…you get what you pay for? This is a good price for a large apartment. You have to compromise if you don’t want to spend over a million in this city. It will always be that way.
I’m considering Kensington. But, from what I read re: this apt, I suspect the noise levels will be pretty high facing Ocean Parkway.
My income is 180K. I must be rich! Yeah.
Median household income in Manhattan is $60,017 as of 2006. Median family income is $70,867.
1:55
“Certainly the previous post regarding the median income of people actually in the market to buy an apartment is valid.”
So by your logic a $459,000 apartment with a 20% down payment is affordable if you only count the people who can afford to buy it. You don’t happen to work in the Bush administration by any chance, do you?
2:16 – Yes it does. That is why it is “Household Income” and not Individual or Personal.
“Take them out of the equation, as well as the top earners to be fair, and I still think the statistic is closer to $100K+”
I’m assuming the statistic is by household. Does it take it to account that many homes could possibly have 3 or more incomes?