Co-op Condo of the Day: 338 Prospect Place, #5E
A top-floor walk-up in Prospect Heights for almost $750 a foot? Not bloody likely. Granted Apartment 5E at 338 Prospect Place in Prospect Heights has a 600-square-foot private roof deck in addition to its 823 square feet of interior space, but we still can’t see someone shelling out $600,000 for the privilege. The current owner…
A top-floor walk-up in Prospect Heights for almost $750 a foot? Not bloody likely. Granted Apartment 5E at 338 Prospect Place in Prospect Heights has a 600-square-foot private roof deck in addition to its 823 square feet of interior space, but we still can’t see someone shelling out $600,000 for the privilege. The current owner paid $475,000 back in 2005. There’s some reference to a renovated bathroom, but it’s hard to see this current asking price flying. And if you wanted to sell the place and it was really worth $600,000, you’d think you could post a few photos.
338 Prospect Place, #5E [Moss] GMAP P*Shark
Photo by Gregg Snodgrass for PropertyShark
As a veteran New Yorker I find that statement completely ridiculous, especially given the thousands of beautiful townhouses and rowhouses in many of the City’s best neighborhoods. Many of these wonderful old buildings don’t have elevators because they can’t be reconfigured without a gut reno. It may not be your style but calling it retarded is a bit much.
buying an apartment on the fifth floor in a building with no elevator is like buying a condo with no hot water. I mean old-timey can be quaint, but no hot water or no elevator is just retarded. To veteran New Yorkers, a fifth floor walkup = slumville.
harsh but true.
I thought there was an elevator in that building. Could it be that the elevator goes to 4 and the you have to only walk up one additional floor?
I’ve been in the lobby of the building a few times, and I think it has a doorman, and seems a little old-fashioned.
There is a kiddie park directly next door- you can see a bit of it in the picture. While the block does have some of the sketchiest characters in Prospect Heights, there is new construction there, and a lot of people are pretty bullish about Washington. And Underhill is a really nice nowadays, but this block is outside of the new landmark district.
All that said, I’m usually a big believer in the value of properties in Prospect Heights, but this seems high even to me. And that’s saying a lot.
Sorry, that is most definitely NOT a $750/sf area.
I think its fairly priced, the walk up situation its not that serious. I’m more concerned about the square footage, its kind of small. And a posting with no interior photos raise a red flag. But overall for the area and building it should sale close to.
I’m with Bolder — who in the world is going to spend $600K for an apartment that basically has no windows in the Living Room? They appear to be behind the staircase?
5th floor walk up is something you should deal with as a young 20 something graduating from college…not the young couple/family with a kid or planning for a kid who are presumably the market for this place…if it was a 1br or studio you could move it, but I dont see the logic of a two bedroom 5 floors up.
It looks like another 2br in this building with almost exactly the same square footage (#1C) was briefly on the market and then taken off. The CCs on that one were $429.
This unit has CCs of $712, so basically you are dropping $283/month for that roof deck. The deck sounds fab, but is it worth it, especially for the sevaral months a year when you won’t be using it?
If I’m reading that floorplan correctly, there are no windows in the “living/dining” area. You’d be pretty happy to have that roof deck 6 months of the year. The other six months you’ll be cooped up in the one windowless room trying to recover from humping groceries etc. up those stairs.
This place is sort of typical of what’s on the market right now: flawed properties with indifferent (or desparate) sellers. This one doesn’t appear to be desperate.