Co-op of the Day: 50 Sterling Place
50 Sterling Place in Park Slope is a classic four-story brownstone that has been divided into three co-op apartments. The owner of Apartment #2 paid $599,000 for her second-floor two-bedroom floor-thru in 2006 and is now putting it back on the market for $669,000. We don’t mind the fact that the living room is located…
50 Sterling Place in Park Slope is a classic four-story brownstone that has been divided into three co-op apartments. The owner of Apartment #2 paid $599,000 for her second-floor two-bedroom floor-thru in 2006 and is now putting it back on the market for $669,000. We don’t mind the fact that the living room is located in the middle of the apartment where there are no direct windows; it means that the kitchen space is more than a small alcove. (The kitchen finishes themselves, however, look a little below par.) Even if the psychology in the market improves, though, these townhouse apartments are going to continue to feel pressure from the coming glut of new-construction condos that are similarly sized. What do you think this will ultimately sell for?
50 Sterling Place [Brown Harris Stevens] GMAP P*Shark
I remember a newly built condo development in Ft. Greene a year or two ago that had a similar layout and the LR was in the middle of the condo unit and truly windowless. Look at any loft in Manhattan: there are interior windowless rooms with only ventilation over the top of divider walls. And those rooms are located way further away from the windows than in this place. Even when there aren’t dividers in a loft, there are kitchen and bath and living spaces located in the back of the loft very far away from windows. This LR gets more light and air than those types of spaces. And we know the prices of those lofts. They sure aren’t less than $700K. People line up to live in lofts. I don’t think this layout will keep this place from selling. When the alternative is more often a tiny kitchen somebody will go for this larger kitchen. Kitchens (and bathrooms) sell properties, not living rooms.
I think there’s a sushi restaurant in tribeca where 669 people can eat for $669,000
i_disagree, your nerdy analysis sounds right. 🙂
as far as i know, caves don’t cost US$669,000, except maybe in tribeca.
Did Sarah Palin ever live in an igloo?
People in Pakistan live in caves. What’s the big deal about a living room without windows? Americans are so entitled.
The DOB rules on windows and living rooms certainly would indicate wiggle room in negotiating the contract don’t you think!!!!
I assume the plans that were submitted on the renovation and conversion were approved. Maybe. Maybe not.
No windows in the living room? -sure, no problem. Bedroom that is only seven feet wide? -hey it’s New York, housing here sucks. A three unit co-op that is dependent on everyone keeping their jobs or everyone is in trouble? -hey that’s just the way it. It’s co-op roulette.
This will hopefully sell for about 400,000 to another occupant in the building who will also buy the third unit and turn this building back into a mid-size house.
i would like to withdraw my nerdy comment and adopt z’s much cooler comment. thank you.