Co-op of the Day: 193 Sterling Place
This floor-through co-op at 193 Sterling Place in Prospect Heights looks pretty nice to us but could benefit greatly from a little staging. The bulky, not particularly charming, furniture and the clutter make the apartment feel much smaller than it actually is and prevent its strengths—the original architectural detail—from taking center stage. Given that there’s…
This floor-through co-op at 193 Sterling Place in Prospect Heights looks pretty nice to us but could benefit greatly from a little staging. The bulky, not particularly charming, furniture and the clutter make the apartment feel much smaller than it actually is and prevent its strengths—the original architectural detail—from taking center stage. Given that there’s a good-sized private roof deck and a relatively low monthly maintenance of $391, the asking price of $575,000 seems reasonable to us, especially if the seller’s can improve their presentation.
193 Sterling Place [Corcoran] GMAP P*Shark
Sorry, I meant Flatbush Ave, not Atlantic. You can see Flatbush Ave. out the living room windows.
“it is right next to Atlantic Ave., so I guess it is exhaust from the cars”
It’s actually no where near Atlantic Avenue. You are speaking about a different place apparently. Look at the map above.
Filthy, ancient, and hideous are words that come to mind about this property. We visited this, and it was a total shame. The entry and the stairwell are very run down, with the stairs covered in old greasy carpeting, and each step creaking very loudly. What impressed me most about the apartment was the thick coating of black dust on the moldings and the ceiling fan (it is right next to Atlantic Ave., so I guess it is exhaust from the cars). Seemed like the sellers and broker really didn’t give a damn about making an effort. While there are a few cute details, it is not enough to save the place. The kitchen was ancient and hideous, as was the bathroom. The floors have detail but are very worn and need to be redone. In all, it felt like they haven’t renovated since the 50s. Regarding the layout, it’s a one bedroom plus den, but has a lot of wasted space. You might be able to knock out a few closets to improve that. The private roof deck is actually a sagging and rotting thing with a rather unsafe spiral staircase leading up to it. The place is all slopes and sagging angles, so I don’t know what’s going on structurally. In all, this place would have been a great cheap rental, but this is a joke, especially in this environment. I do not find this listing cheap, considering the amount of work you may have to put into it. I expected better for a Corcoran listing — at least that the place be clean and emptied by at least one third of the junk. Beware!
beautifully said, northsloperenter. Thanks for putting it into persepective than everyone can understand.
“I don’t understand this argument about the relative merits of buying versus renting.”
Renting is undeniably better than buying when:
1. The cost of renting is less than the cost of owning. This happens (1) when housing costs are wildly inflated (2005-2007) or (2) home values are dropping (2007-2010).
2. Your life is likely to change in the next 3 years in a way that will make you want to move (e.g., change in jobs, getting married, having kids, kids getting older, etc.).
These two situations are pretty clear (#2 is pretty much what you said).
But there are other reasons to rent rather than own:
1. When you rent, repairs and maintenance are somebody else’s problem.
2. When you rent and find that you cannot happily live near your neighbors and your neighbors are unlikely to go away, you can easily move in less than a year.
3. When you rent, you can often live somewhere nicer than where you can afford to buy. In this situation, you are trading the financial advantages of ownership for the personal happiness of living where you want to live. Now, I understand that for some people $$$=happy, but for others, the whole point of having $$$ is live happily.
There are undeniable long term benefits to purchasing a good property in a good neighborhood at a good price, but buying a bad property in a bad neighborhood at a bad price is a great way to make yourself poor and miserable.
Anyone who says that “buying is always better than renting” either hasn’t thought the situation through clearly or is selling something…
Guess it does sam- Renters aren’t the ones posting that homeowners are schmutzes.
And I believe you mean “financially secure.” Psychologically secure people don’t need to denigrate those who rent instead of own.
I’m very wary of living in a four unit co-op. I actually chose to live in an larger building rather than brownstone to avoid an ultra small coop like this. The fact that the maintenance is soo low is also worrisome in such a small coop. Wonder what the reserves look like. On another note, PH is really hot though. This is a great block and so close to the train, I’m sure it will go. Has anyone hear anything about the new italian on Vanderbilt close to Le Gamin?
Anybody else here wary of buying into a four unit co-op?
east river, give it a rest.
owning a home does not make one a better person, but it makes one a richer and more secure person.
does rentng make you a better person?
who are you? the world’s last living Marxist?