Co-op of the Day: 30 Ocean Parkway 2 BR
As we’ve noted before, we think the art deco building at 30 Ocean Parkway in Windsor Terrace has a very nice feel, which is probably why we’ve already featured a couple of units as co-ops of the day in the past. Make that three times now: Today we’ve got another two-bedroom on tap. This one,…
As we’ve noted before, we think the art deco building at 30 Ocean Parkway in Windsor Terrace has a very nice feel, which is probably why we’ve already featured a couple of units as co-ops of the day in the past. Make that three times now: Today we’ve got another two-bedroom on tap. This one, which just hit the market, weighs in at 1,000 square feet and has all the pre-war trappings you would expect. The asking price is $525,000, a bit lower than a similar one last summer but not dramatically so.
30 Ocean Parkway 2BR [Aguayo & Huebener] GMAP P*Shark
Co-op of the Day: 30 Ocean Parkway 6/08 [Brownstoner]
Co-op of the Day: 30 Ocean Parkway 7/07 [Brownstoner]
CWB- The listing 11217 linked is a bit far from the trains, but at that price it makes owning/maintaining a car less of a pinch and the parking in that area is much easier to find than Park Slope or where I live in PH, IMO. Also decent schools in the area. Good find, 11217! Except for those damn counter tops, GRR! 😉
Even though I’m not buying for a couple of years I quite obsessively scan the listings for Ditmas Park and Kensington as they are generally more generous in size for a much better price. Hopefully I’ll find a perfect 2 bed near the Q someday.
Personally I am only looking at places that we can afford on one income alone, I guess I am wierdly conservative that way. It does allow the hubby to be a SAHD right now though, which totally rocks and works for us. It’s pretty awesome coming home to dinner and a sleepy toddler! HAHA!
“Coops may do better in a down market is true – as long as you are not trying to sell. Reselling a coop can be tough in ordinary times, but especially in a stagnant or falling market.”
I can’t statistically argue with what you are saying but I found my coop easy to sell. Board wasn’t a problem because the sale price was among the highest recorded for the building. Don’t know what would happen if I had to sell the same apt now but thank goodness I don’t need to find out.
There are several established co-op buildings in Ditmas Park and vicinity that are easily accessible to the ‘Q/B’ line. Some of the buildings are pre-war and others buildings built in 1960’s by Trump and Lefrak. I don’t know what they go for price wise but Brooklyn Properties on Cortelyou Road specializes in co-op and condo’s in Kensington and Ditmas Park. The owner, who is also an area resident, is very laid back and easy to work with. I know several people who purchased with her.
And yes, Sam. I totally 100% agree that co-ops are not for everyone.
Absolutely.
“11217 – are you saying that absent the coop’s requirement, you would not have managed your money/finances sufficiently well to avoid a foreclosure today? I don’t need a coop’s rules to be fiscally prudent.”
No, I’m not saying that. I’m meticulous about my finances (have zero debt) and was told 2 weeks ago by my mortgage broker who is handling my refinance that I have the highest credit score he has ever seen.
I probably would have saved enough for 6 months or so, but 1 year’s worth of mortgage payments is hefty. I like knowing it’s there though, and actually home ownership has encouraged me to save more than I ever did as a renter, even though I’m paying more now than I did as a renter. For me, home ownership has only heightened my already diligent savings habit.
I doubt most condo owners have 2 months mortgage in savings, but maybe I’m wrong.
I do know that something like 70% of Americans over age 55 have less than $10,000 in savings (last I heard) so none of this would be surprising to me.
co-ops are not for everyone. Not at all. Any co-op board will tell you that, and some perhaps already have.
Coops may do better in a down market is true – as long as you are not trying to sell. Reselling a coop can be tough in ordinary times, but especially in a stagnant or falling market. Boards can be “overly” obsessed with comps and ding a lot of deals they feel will hurt other sellers (themselves). That’s great for people who plan to stay for a while, or who don’t need to sell. But don’t be the person who needs to sell b/c even if you’d be willing to accept – to use the parlance of so many on this board – an aggressive offer, chances are your board won’t.
Condo common charges in new buildings can be high – often b/c they have expensive amenities to maintain (pool, etc.) But coop common charges have also risen a lot lately. Check out the common charges in BK Hts – often outrageously high.
11217 – are you saying that absent the coop’s requirement, you would not have managed your money/finances sufficiently well to avoid a foreclosure today? I don’t need a coop’s rules to be fiscally prudent.
Noklissa, I think you meant to say condos pay a mortgage tax b/c they are real property, not personal property.
Overall I think coops tend to survive b/c they are conservative in nature. They The arrangement works for a lot of folks – not for me though.
Agree that something along the Q would be more ideal.
Hate to see you have to leave Park Dope though, CW.
Maybe those Lincoln Place Brothel pads will be down to your price range by next year…
“Only issue is that I think it’s just a bit too far from Manhattan”
It is quite a schlep from there. You might look into Ditmas Park along the Q line. That’s a much quicker ride into the City.