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]
11217 –
Haha yeh, you’re not entirely incorrect. We could swing that co-op you linked on my income alone, let alone what we make when both employed. I must admit that it’s appealing to own without also bankrupting ourselves in the process. 😛
Perhaps we’ll investigate Kensington a bit. We have friends who live there and manage the commute.
“That 2 BR you linked is nice. I don’t think it’s quite as nice as the co-op of the day, but for 225 less it’s super appealing. Only issue is that I think it’s just a bit too far from Manhattan, to which I have to commute at least three days a week, and where my wife will likely have to commute daily once she finds a job.”
For the price difference, you can hire a car and driver!
Kidding.
Kinda.
> “co-op and condos are both surrenders.”
Please explain.
“Wasder, I think you are quite eloquent.” Thanks friend!
Is 30 Ocean Pkwy really Windsor Terrace?
“Without condos, I doubt NYC would even feel much of the effects of the bubble, as 75% of our housing are co-ops.”
I have to clarify that I realize we have indeed had housing downturns in times when there were far less condos than we have now, but I believe some of the huge price gains over the past years have been fed by the huge pricetags of some of these condos. From what I can tell, co-op prices rose much more gradually than those of condos.
Wasder, I think you are quite eloquent.
The whole notion of co-ops is a uniquely New York thing. They do have them in other places like DC, but in a city of 8.3 million people, where we are all living on top of each other and in small spaces, it’s nice to know that you have some element of control on what is a very transient population.
I would not buy a condo here in NYC. Especially a new one.
I think wasder is correct also in that new condos are going to see significantly higher price drops than established pre-war co-ops. Condos were built like crazy in NYC over the past 10 years to FEED the bubble. Without condos, I doubt NYC would even feel much of the effects of the bubble, as 75% of our housing are co-ops.
It might have been a pain that I had to show that I had 1 full year’s worth of mortgage payments after my down payment, but you know what…? At least I don’t have to worry about foreclosing on my home now, with that kind of co-op “nest egg” in place.
co-op and condos are both surrenders.
some people like condos because they think they will be able to do as they please with the unit and be able to rent it out whenever they like to the highest bidder.
other people like co-ops becuase they know that the kind of people described above will not be allowed to buy in the building.