Co-op of the Day: 200 Hicks Street
This three-bedroom co-op at 200 Hicks Street in Brooklyn Heights is gorgeous. The recent renovation managed to inject a modern, light feel to the place without stripping it of its prewar character. (For some reason, we don’t even mind the recessed light–perhaps because it’s embedded in the soffit.) While the listing doesn’t say so explicitly,…
This three-bedroom co-op at 200 Hicks Street in Brooklyn Heights is gorgeous. The recent renovation managed to inject a modern, light feel to the place without stripping it of its prewar character. (For some reason, we don’t even mind the recessed light–perhaps because it’s embedded in the soffit.) While the listing doesn’t say so explicitly, we’re guessing that this is the ground floor unit, based upon the shape and size of the windows. This is the only negative we can find with this place, but it may prove to be a meaningful one given the asking price of $1,995,000. Thoughts?
200 Hicks Street [Brown Harris Stevens] GMAP P*Shark
Its like someone else said. Most posters on Brownstoner couldn’t afford this place or anything like it. These are homes for a person who has assets in the millions without having to factor in some theoretical value of his current home if it sold it for some price never seen before. Real millionaire instead of paper. There are people who look at $2mm for a 3 bedroom in the Heights and think its a bargain. For a co-op like this, you will typically need to show minimum assets equal to the down payment after the purchase so you need $2mm in cash before you even bid. Yeah, the right person has to want the ground floor, but don’t think $10k a month carry cost is a stretch for that person just because its a stretch for you. Same guy sends his 3 kids to a private school at $30k per kid, drives a $100k car and probably owns a million dollar beach shack south of the highway. There are plenty of people here who will say why do you need to do that when you can send you kids to PS blah blah blah and ride a bike and buy carbon tax credit offsets instead of taking summer vacation? Why? Because he works hard and can. Then others will say won’t he cut back because of what’s happening at Bear, Merrill, etc? Some guys will get shot, but plenty will survive and continue to buy, though with a bit more wariness. And yeah, he will probably want to live around others like him which is why he is in the Heights and the slopers are in PS. Birds of a feather…
My dear, it is not only on Montague Street, but it is right next door to the Heights Casino. what a horror. that place is a veritable den of iniquity. scantily clad women go in and out of there all day, on the pretense of playing raquet ball, but we know their real racket. sin. and noise. and… and..highballs.
But hold on! for almost 2 million dollars you can buy a whole house in Park Slope.
True it will require endless maintenance and upgrades, true you will need to shovel and sweep your sidewalk and take out your trash and fix anything that breaks yourself, and deal with tenants, but it is a house.
Who wants to buy a luxury apartment instead where all you have to do is decide where to place the art? and where the building staff will attend to your needs? People are so silly!
“It’s full of pretty impressive people that you’d know about if you knew anything about Wall Street.
Posted by: guest at June 2, 2008 5:06 PM”
I think that is all I need to know about the uselessness of this thread. Do people actually say things like “impressive people that you’d know if you knew anything about Wall Street.” ? Oh my.
do you people know what 200 Hicks is all about? this site is sometimes SO clueless.
I looked at some 3 bedrooms in Brooklyn Heights about a year ago. At that time, they were clearing for around $1,000 per sq ft. The supply of 3 bedrooms in Brooklyn Height is very limited compared to two bedrooms and townhouses.
If one wants to live in Brooklyn Heights (not debating this issue either way), the town/carriage houses generally go for north of $3.0 mm. Often very north of $3.0 mm. So, the three bedroom does fit a niche and drives higher prices.
All that being said, $1.995 for a ground floor place without a view and high maintenance seems like a real stretch in this weak market.
5.11: oo, oo reflected glory! – sign me up!
Ugh – comps, comps, comps – how many places in brooklyn are paying north of 1000/psf? Brownstoner – can you please stop trying to prop up the market with these completely atypical finds?
Wow 1.995 now that’s a bargain. The transplant of today sucked the life out of the city.