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
4:56…A lot of people don’t understand that the Park Slope market in the north (named streets) commands a significant premium over other areas of Park Slope (minus perhaps 3rd street) because of a combination of it being located in the historic district along with the much better train access. The blocks in the north are all more gorgeous than the next and close to Grand Army Plaza, which is a plus with all the amenities up there…
Someone who makes 350K a year, thinks 4K a month is too much and is still renting, is not very smart.
Jersey: Our place is available – its 1000 sqft loft and others have put up walls and turned it into as many as 2br + den: http://www.11sterlingplace.com
I rent a brownstone of 10 studios/small 1 bedrooms one block from here. The studios rent for between 1500-1700 and the one bedrooms from 2100-2500.
Whoever said you could rent this place for 1500…or even 2500 are nuts.
My place is a walk up and this is a full service building. This apt. would sell for AT LEAST 3000 which just goes to show how out of touch some of you are with rents. Just because YOU have a deal does not mean that is market rent. Take a look through craigslist sometime and see what you come up with. I just did and besides for a few 1500 studios, the only thing in “Park Slope” under $2000 a month is on 20th street.
4:23 – I agree that someone earning 350K can easily afford it to pay $4K a month. But someone earning 200K (taking home $110K as 3:54 claims), with a kid (and attached expenses), its a tough one. Prudent financial advisors will tell you that 45% of net spent on housing costs is way too much.
Again, some people are more optimistic and less conservative – figure their income will only rise, the market will continue to rise etc. Depends on your cojones I guess.
This is priced right for Brooklyn Heights but it is high for Park Slope.
Most good co-ops do not even bother to meet you if you are spending more than about 33% of your gross income on housing.
3:58 here. I don’t feel priced out; It’s not that I can’t afford to buy, it’s that other people can’t but do anyways. I don’t want to get caught in the downdraft when other people realize they are in over their heads (I’m also the kind of guy who bought my family car used for $7,000 in cash and shudder at the thought of borrowing money for an automobile). I am a happy renter for now. I used to own in the ‘burbs and sold last year, moved down here and rented. I will buy again, just not in this market right now.
As cute as it is, this place seems to be 750 sqft tops. That pretty much amounts to slightly over $1000/sqft, with a maintenance that’s also very high even for a full service building. It’s got overpriced written all over it. But he, what do i care, i am not the one buying it.
3:54 – you are not alone. Our situation is fairly comparable to yours. We dont see ourselves in a 2-bedroom for more than another 5-years and considering prices, we decided in made the most financial sense to rent. After some looking, we were able to rent a nice 2-bedroom in the slope for $2500 in a good location, and we’ll enjoy for the next bunch of years without having to worry about our investment (and if we were wrong and the market somehow manages to rise 10% or more a year for the next 5 years like the past then, oh well). We’ll continue to invest the savings, and when we move and buy, it will hopefully be for the long haul and I wont ever think about this s–t ever again (at least not for another 25 years or so) 😉