Co-op of the Day: 2 Grace Court
This two-bedroom at 2 Grace Court in Brooklyn Heights looks pretty darn good to us at the asking price of $675,000. With a monthly maintenance of $881, this place is cheaper across the board than the similar two-bedroom at 90 8th Avenue that we discussed yesterday. This place doesn’t feel quite as grand, but it’s…
This two-bedroom at 2 Grace Court in Brooklyn Heights looks pretty darn good to us at the asking price of $675,000. With a monthly maintenance of $881, this place is cheaper across the board than the similar two-bedroom at 90 8th Avenue that we discussed yesterday. This place doesn’t feel quite as grand, but it’s prewar to the core, has the elevator/doorman connection and is steps from the promenade. Seems like a lay-up to us.
2 Grace Court [Brown Harris Stevens] GMAP P*Shark
“Nothing like stating something which is the exception and not the norm as fact.”
Exception or not, it remains a fact.
Back at ya, ignoramus.
“My rent has increased less than 10% in 5 years.
Choose your landlords more carefully.”
Nothing like stating something which is the exception and not the norm as fact.
Ignorant poster.
4:32…yes, that is something to consider for sure. I don’t think many Americans think too much about the future though. Thus the whole negative savings rate issue and the fact that something like 60% of the American population over 55 have less than 10K saved for retirement. I find that ALARMING! To say the least.
It’s also important to note that 95% of those years past 60 will be non working years and on a fixed income. People in this country need to start looking into the future a bit more than they do now.
My rent has increased less than 10% in 5 years.
Choose your landlords more carefully.
The other good news about owning is that in 30 years you are done paying, so doesn’t one need to factor in that when I’m done paying for my house at the age of 60, there are those who will still need to pay rent for an additional 10-40 years, depending on life span…?
In the rent vs. own comparison, my experience has been that owning is more expensive in the early years of ownership (lots of upfront costs + the interest component of your mortgage is at its highest). Over time, your cost start to become relatively fixed and the interest component of your mortgage declines. Renting is sort of the opposite. Year first year of renting is going to be your cheapest and your rent is going to go up over time. I think rent basically doubles every 10 year.
I live in this building, so I can’t claim to be unbiased. I have a few comments. First, the windows belong to the building, not the individual owners, so you can’t replace them. Second, this apartment is right on the BQE. 2 Grace Court has four sections and the P – Z segment is on the BQE. This segment has the benefits of a view of the city, but I don’t think that the Z line has that view. It faces North, not West. I have never been in an apartment in this segment, so I’m not sure how loud it gets. I live a segment over and you can’t really hear the BQE. Third, the apartments in this line are right below the roof deck. Per an earlier comment, the roof deck has an amazing view of the city and is usually empty (don’t really understand why). Fourth, I’ve never had any issues with the Coop Board. It is a mix of young and old people. I don’t think it is particularly strict. They are concerned about the financial stabilty of the buyer, but that isn’t unique. Fifth, to 1:45 PM, I am frankly stunned by these comments. I have never smelled anything in the halls or the elevators. The staff does a really good job cleaning the building. In terms of the long hallways that is a function of the multiple segments. The building has constructed in the 1930s, so the style might not be for everyone, but depressing is a stretch. Finally, on the bedroom/not bedroom, my apartment has closets in the bedrooms, so haven’t really thought about it.
I live in this building, so I can’t claim to be unbiased. I have a few comments. First, the windows belong to the building, not the individual owners, so you can’t replace them. Second, this apartment is right on the BQE. 2 Grace Court has four sections and the P – Z segment is on the BQE. This segment has the benefits of a view of the city, but I don’t think that the Z line has that view. It faces North, not West. I have never been in an apartment in this segment, so I’m not sure how loud it gets. I live a segment over and you can’t really hear the BQE. Third, the apartments in this line are right below the roof deck. Per an earlier comment, the roof deck has an amazing view of the city and is usually empty (don’t really understand why). Fourth, I’ve never had any issues with the Coop Board. It is a mix of young and old people. I don’t think it is particularly strict. They are concerned about the financial stabilty of the buyer, but that isn’t unique. Fifth, to 1:45 PM, I am frankly stunned by these comments. I have never smelled anything in the halls or the elevators. The staff does a really good job cleaning the building. In terms of the long hallways that is a function of the multiple segments. The building has constructed in the 1930s, so the style might not be for everyone, but depressing is a stretch. Finally, on the bedroom/not bedroom, my apartment has closets in the bedrooms, so haven’t really thought about it.
so seriously folks…it now costs 3K bucks a month to rent a 1 bedroom in stuy town.
are you going to tell me that you can’t find a 1 bedroom anywhere you’d like to live in nyc for under 500K or about the amount you’d be spending to be paying less on a mortgage than you would on rent…?
the whole…it’s cheaper to rent thing seems to go out the window as we all become more enlightened to 2008 rental prices in nyc.