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
I don’t like this at all.. where is the old charm.. just blah
I saw these at a recent openhouse, there are several units all with these renovations, i thought they were pretty well done and dont require any board approval. Corco has it listed at a lower price on the web. $1.8
Truly charmless from the pix.
While this unit is far beyond my reach, I did look at #4D. Also no longer listed on streeteasy was I believe #4F, a 1-bedroom that was for sale at $400K. My thoughts…
4D is a very nice, quiet unit with views of the back garden. The bathroom is tastefully re-done and the kitchen is new, but the fridge and freezer are dorm-sized cubes, side-by-side below the microwave as there is no room for a full unit. The $549K asking price isn’t absurd, it’s about 650-700sq. ft, but I doubt it will move at that price. If it was listed for $100K less, I would’ve made an offer.
4F (or C? G? whatever it was) was about 400sq ft, which may even be a generious guess, though the broker claimed it to be 500 (no way!). The bedroom was about 7 feet wide by 9 feet long (barely enough space for a queen bed…and nothing else), and the way the kitchen was set up, there was basically no room for a living room, just a small dining room table. They were asking $399K, I’m not sure I would pay $250K for it.
The main downfall with the building is how poorly the interior is looked after. Doors have wretched red paint which is cracked, and looks like it has been painted over multiple times. The lobby looks old and dirty, it’s not a welcoming place to come home to. If the renters leave and the managers did a proper job of renovating the interior I would consider buying, but in the meantime, it’s not worth it to have a nice unit in an ugly building.
I really like the kitchen…guess I am the only one.
Why do people think they can do a renovation like this and it can fetch top dollar?????
And I’m not even going to get into the kitchen.
I can bet the bathrooms are blah also.
In the one plus year I’ve been looking, this is officially the most absurdly overpriced place I have seen. And its also more evidence to me how Corcoran serioulsy seriously inflates prices.
If this were a normal co-op building the asking prices would be reasonable given the space, but it is not a normal co-op. None of the old residents bought their units. An idiotic decision given they are all rich, but it takes all kinds.
This ask would have benn silly even at the tippy top of the market.