Co-op of the Day: 19 Grace Court, #3B
Chances are that buyers looking to drop two million bucks on a pre-war co-op with no elevator in Brooklyn Heights don’t want the interiors to look like a new condo in the South Slope. Nor do they want to be staring at a brick. Such is the challenge with Apartment 3B at 19 Grace Court….
Chances are that buyers looking to drop two million bucks on a pre-war co-op with no elevator in Brooklyn Heights don’t want the interiors to look like a new condo in the South Slope. Nor do they want to be staring at a brick. Such is the challenge with Apartment 3B at 19 Grace Court. The “Classic 7” is asking $1,999,000 now, down from $2,100,000 in July. Given the finishes and the fact that no board approval is required, we’re guessing this is a sponsor job. Someone should start a support group for sponsors to explain to them that this kind of renovation just doesn’t fly. Old moldings with 20 layers of old paint are far more fitting. Good luck with this one at more than $1,100 a foot. Looks like there are three other units on the market with a similar shtick.
19 Grace Court, Apt. 3B [Corcoran] GMAP P*Shark
Corcoran evidently shaved another $100K off today. Lay-out actually looks quite nice, but yes, the photos seem very blah. The price is ridiculous, esp since maintenance is high.
neil (aka Dances with Sockpuppets) – One word of advice for you: subtlety.
I wouldn’t go that far Neil.
I think these units could be a good investment if purchased for prices commesurate with the risk that buyers are taking when purchasing in this fraught, neglected building. I would say half the asking price would be about right. Once the owners take control of the building, they will need to replace and modernize every stitch of the building’s infrastructure, including the elevator, the wiring, the roof, the plumbing, the public hallways and lobby and the facade, which is a mess. So yes, it would be worth it but not priced as if it were a normal building.
I THINK ITS A GREAT INVESTMENT WHEN THIS MARKET TURNS IT WILL BE VERY VERY VALUBLE
grace ct is the best block in brooklyn I saw this apartment it is really really nice the kitchen is spectacular it has 3 top of the line bathrooms and the maintanence is not bad
The kitchen looks perfectly nice to me and so do the floorplans. The rooms are unfurnished, perhaps that makes some say they are “charmless”. Actually this is an attractive building on one of the most picturesque blocks in Brooklyn Heights. The problem is that the sponsor controls the board and most of the units are occupied by long-time rent-control tenants. They include professors and doctors, so they are not lowlifes, this is the Heights, but they have the medieval renters’ mentality and they refuse to buy their units and work with their neighbors to improve the building. If you can get a bargain here, this may me a great investment once more of the units turn over. You really can’t beat the location or the layouts of the larger units.
may i ask why people dont like the kitchen? i think it looks nice….
Well at least asking prices are holdin up nicely.
Agree about the finishes. Nice floorplan, though!