Co-op of the Day: 420 12th Street 2BR
We’re liking the looks of this two-bedroom, two-bath loft at the Ansonia in the South Slope. In this case, the exposed brick works well in relation to the wood-beamed ceilings of the 1,200-square-foot apartment and the interior courtyard is killer. The new listing—the first open house is this weekend—comes with a price tag of $899,000…
We’re liking the looks of this two-bedroom, two-bath loft at the Ansonia in the South Slope. In this case, the exposed brick works well in relation to the wood-beamed ceilings of the 1,200-square-foot apartment and the interior courtyard is killer. The new listing—the first open house is this weekend—comes with a price tag of $899,000 and a monthly maintenance of $921. While that’s still $750 a foot, there are several apartments in the building that have sold for more money in the past couple of years.
420 12th Street 2BR [Corcoran] GMAP P*Shark
We considered buying one of the three bedroom units in this building when we first moved to Park Slope about five years ago. I think it was priced just under a million then. I don’t regret not buying it. I know a handful of people who own units in this building who complain that it is very loud — the stairwells are echo-y, noise travels within and kids are screaming in the courtyard all day all Spring and Summer. It also has this very Melrose Place-y vibe where everyone knows each other and knows each other’s business. Not for me, but I can see why that might be attractive to some. It’s a community within a community. From what I’ve heard, these places often sell to friends of people who already live there, which perpetuates the whole thing. I’m sure this place will sell close to ask to someone who knows someone who already lives there.
I doubt NCB would demand payment on the ballon when they could make a fortune in interest for the next ten years. It’s a captive audience and a steady cash flow. I’m making an assumption that it went coop in the 80s based on the look of the kitchens/baths so their underlying mtg can’t be sky high. A maintenance of $921 on 1200 square feet is pretty reasonable, if there were isues the fee would be higher.
i have looked at apartments in the ansonia each time i bought (3x total), and every time i thought they were overpriced. no central air, i think no washer dryer, not convenient, and too small.
i have never understood why these are priced this way.
First off, don’t assume that the Ansonia will simply rollover it’s mortgage and get a lower rate– the Ansonia is a coop and as such has very limited access to finance. We rolled our underlying mortgage over a year and a half ago and it was an expensive pain in the balls. Secondly, how is it that PS takes it on the chin all the time for being so overcrowded with yuppies and now in the thread the big complaint about 12th street is that it’s hidden in the sticks and boring? I’m no great fan of the Ansonia and I agree that the F train is no treat, but c’mon Newswalk is smack in the middle of an asphalt jungle and is a front row seat to a construction debacle. Just how long will it take to get someplace green from Newswalk? The Ansonia is a block and a half from the Park and zoned in a terrific school district.
Parkloper, a ballon payment is quite common and shouldn’t make things difficult in this current environment to roll-over to a new mortgage at that time. That said I don’t know their financials but I would assume that they would re-finance the mortgage, and with rates where they are now get a cheaper rate.
No more stupid than the owners/broker who raised the price by over $70,000 the day after Lehman Bros collapsed after it had already been sitting on the market for over 5 months.
So, at 599k you’re talking $445 a sq ft. wow, you are stupid
Well…since according to Streeteasy, NONE of the units have sold for more than 700K and many of those were a year or more ago, I’d say 650K.
It didn’t sell for 719K when it was listed as such from May – October 2008, and since are now in a major economic crisis, it CERTAINLY needs to go for less than that.
Maybe even 599K.
Educate me: how much should this place sell for?