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
2:22/2:26 – this is the guy who bid on your larchmont house. see the thing is that the bank called today. they said we didn’t get approval for our loan after all. it seems the mortgage market has changed some. oh well, i’m sure you can still back out of you offer, right?
Some people don’t view housing in Brownstone Brooklyn as an investment. They view it more like buying a diamond or a faberge egg…or a ferrari. If they have the money, they just want it.
I find this to be the case often actually.
Do you go around telling all your friends that they overpaid for their $200 Banana Republic jacket (which cost about 3 dollars to make?)
Or how about that collections of cd’s which each cost $1.40 to make and produce…??
And you can’t LIVE inside a recording or a jacket…
But still, 6:01…an 800K purchase price with the tax deduction is going to be something like 5K a month. So when rents are getting up towards 4K a month and over, it’s getting close to being a toss up between which (renting or owning) makes more sense…
For some people (me for one) once I hit the 2K mark, it was time for me to start spending that money on some equity as I simply didn’t feel comfortable paying such sums to a landlord any further. Everyone is different though…
is the $1650 a month 400 square foot person trying to make that seem like a good deal??
i’m confused.
that’s not a bargain. i pay less than that for my mortgage and maintenance on my north slope studio…just recently purchased…
Guys, it is impossible to make any accurate conclusions based on prices alone. Im sure that the $2500 4:56 paid is much smaller and not as updated than the $4000 apartment that 5:27 rents – and you have to compare purchase prices accordingly. My guess is that the type of apartment you rent for $4000 – large, with the great location, high end upgrades, outdoor space etc) would probably sell for well over $800K, likely alot more.
Who wants to live with roommates after about the age of 30?
I’d much rather buy a studio.
5:53, I TOTALLY agree with you. The minute I started owning, I saved more…for a rainy day, for maintenance, for whatever. Now I’ve been lucky and haven’t had a major repairs, but I now have a very sizeable nest egg from the savings that owning forced me to do to feel comfortable. I hear the same thing from many people. It’s also another way how the rich get richer and the poor get poorer…
Sad, but true…
5:52….I think the new owner got one hell of a beautiful apartment. We don’t know the selling price, but I know it was only on the market for a few weeks, because I live on that block…
I think of owning as forced saving. Sad to say, my husband and I are very bad savers, and truly ignorant about financial investing, and by being forced to pay a mortgage every month we don’t spend it on other things. That’s what happened with a house we bought upstate – poured so much money into fixing it up that if we added it all up we probably didn’t actually make a profit, but when we sold we did have 200,000 in cash – cash we NEVER would have saved if we didn’t own a house.
All these people who say there are better places to invest are probably more savvy financially than many of us and probably more responsible about saving.