Co-op of the Day: 135 Prospect Park West, #44B
If you overprice a new listing these days, there’s no point in wasting time in reducing the price. Such must be the logic at Apartment 44B at 135 Prospect Park West in Park Slope. The two-bedroom, two-bath co-op hit the market with a price tag of $800,000 three weeks ago; after less than three weeks,…
If you overprice a new listing these days, there’s no point in wasting time in reducing the price. Such must be the logic at Apartment 44B at 135 Prospect Park West in Park Slope. The two-bedroom, two-bath co-op hit the market with a price tag of $800,000 three weeks ago; after less than three weeks, the price was trimmed by $21,000 to $779,000. Hardly a dramatic cut. Think it will be enough? We doubt it, given the apartment is only 867 square feet and comes with a monthly maintenance of $1,197.
135 Prospect Park West, #44B [Corcoran] GMAP P*Shark
It is a beautiful apartment and has lots of sunlight, and I think it could sell at around this price if the seller is patient. It’s hard to judge an apartment just by price per sq foot – this one is on the park and has a nice view, but the maintenance is high. January is a slow month, but who knows what will happen when the weather warms up and the finanical stimulus plan starts pumping money through the ecomony? I think gemini10 has it right – it depends where the real estate market goes in the next six months. In six months prices may go down further – or we may be saying that the smart sellers/realtors held firm on their prices through the bottom. Who knows?
Househunt:
Why do you think its the brokers who are pricing everything? Wouldn’t you say its the owners who ultimitaly decide where their property is priced?
Nice layout, sunny, etc. but too expensive in price and maintenance. And, I think the style is pretty plain… I don’t see any of the lovingly restored moldings, or whatever they called them in the full listing, INSIDE the apartment.
I just saw another lising in this building, a 1200sqft 2 bed for 849k with a lower maintenance!
I know that pricing is questionable now days. But the thing that really gets me is the rose colored glasses that these realtors use in describing the properties. It so frequently has no basis in reality. I expect them to put lipstick on their pig. But they’re claiming Kobe beef instead of fricassee of swine.
Whatever happened to truth in advertising… Is there a way to file complaints on the most egregious ones so the industry starts to clean up their act.
Oh Boy!
The market is on the downward slide, we know this – but HOW FAR DOWN?I still don’t think the majority of brokers have the right pulse yet on what is going on and how much they can cut prices without totally underpricing for their client – the seller. If in 6 months, the market is still down then of course we can jump all over the “greedy brokers” as they are completely out of touch!
I feel it’s only been 2009 that we have truly seen the effects on Park Slope prices.
I remember looking at apartments in this building in 1989 when there were still security gates on most of the apartment’s hallway front doors. I think they were selling in the range of $65K – $110K. The realtor asked me “Why would you want to live here?” I remember thinking that if you had to put a security gate on your place up on the fourth floor then just about anybody could walk in the building.
I’d always thought this had the makings of a gracious building. Nice apartment, tons of windows!
Throw in the Noguchi coffee table, and I’m there.
Unfair to brokers? Give me a break! Those greedy bastards deserve all the flack they get on this blog and then some. I feel sorry for those who lost money during this downturn, but the brokers deserve no sympathy. 21,000 price cut when a 50,000+ is needed? Location is fine, but that cc is obscene and 800+ is a puny space for 2/2. When will brokers stop claiming old listings are new, stop calling closets bedrooms, stop hiding shafts and worse with closed curtains, stop overcharging, and just adhere to due diligence?