Co-op of the Day: 90 8th Avenue
What’s not to like about this two-bedroom co-op at 90 8th Avenue in Park Slope? Besides the fact that there’s only one bathroom, not much. It’s about as classic as a prewar co-op gets. We’ll see how the asking price of $785,000 flies though. The apartment directly upstairs sold for just $580,000 three years ago…
What’s not to like about this two-bedroom co-op at 90 8th Avenue in Park Slope? Besides the fact that there’s only one bathroom, not much. It’s about as classic as a prewar co-op gets. We’ll see how the asking price of $785,000 flies though. The apartment directly upstairs sold for just $580,000 three years ago and the C-line on the 8th floor just closed for $785,000 last month, but who knows what kind of shape those places were in. Think the sellers will get their price?
90 8th Avenue [Warren Lewis] GMAP P*Shark
Ah, of course! This is the trend of new urbanization I’ve been telling everyone, that is, baby boomers with little or no mortgage trading down huge homes in the burbs for Brownstone Brooklyn apts & houses. Less taxes, less need to drive, people everywhere. Makes total sense. Prices will continue to rise 5-7% in PS, Cobble Hill, Boerum Hill, Fort Greene, Downtown over the next decade.
good, let the wall street losers stay up on the uws where they belong.
A large portion of “Wall Street” jobs are actually located in Midtown.
I CLEARLY DID NOT overpay as I sold my fully paid for home in Larchmont & will be spending my remaining years in PS so who gives a hoot if it goes up or down in the next few years.
Congratulations! You will love the neighborhood! Greenmarket, Prospect Park, the library, Brooklyn Museum, Botanical Gardens, Q, 2, 3 trains, 7th avenue all within 2 minute walk of your apartment!!
Welcome.
2:22 — congratulations. Only time will tell whether you overpaid.
20% down, 7% mortgage (that’s what is realistically available to someone with GOOD credit right now) and that much maintenance equals a check for about $5,300/month. After-tax cost of ownership about $4,100 to $4,200 a month (assuming 33% tax bracket, a good assumption for someone buying this place). I very much doubt prices are going up any time soon, and most people don’t hold on to places long enough to capture long-term appreciation (random guess is that the buyer is out of there within five years).
So this is basically a 5-year lease of a small 2-bedroom with only one bathroom for $4,200 a month. The conclusion should be self-evident.
DEBATE is OVER: My offer was accepted yesterday. We offered $750k & agreed on $759,900
Park Slope is closer to Wall Street and downtown than the Upper West Side is. I used to live on the UWS and it would take me 30-35 mins to Union Square. Now from PS it takes 15-20 mins.
As a young person, I prefer Park Slope to the UWS. There are more young people around and fun bars.