Co-op of the Day: 360 Clinton Avenue
This massive prewar apartment at 360 Clinton Avenue in Clinton Hill just hit the market and looks pretty interesting. With its current price tag of $850,000, the 1,972-square-foot apartment is priced at about $430 per foot; given that there’s not a doorman, the monthly maintenance of $1,673 doesn’t seem like a bargain (but is probably…
This massive prewar apartment at 360 Clinton Avenue in Clinton Hill just hit the market and looks pretty interesting. With its current price tag of $850,000, the 1,972-square-foot apartment is priced at about $430 per foot; given that there’s not a doorman, the monthly maintenance of $1,673 doesn’t seem like a bargain (but is probably explainable by the fact that, from all appearances, this big spread is likely the result of combining two apartments). Waddya think?
360 Clinton Avenue [Douglas Elliman] GMAP P*Shark
I just found 100 listings of 1500 plus square feet in Prime Brooklyn neighborhoods for 4K a month or less.
So why would you buy something exactly the same for 6K or 7k a month?
Fair enough. You would really have to want to live in Clinton Hill for this deal to make sense I guess. According the mortgage calculator I looked at the nut on the Clinton Ave house could be as low as 5,500 per month depending on the interest rate. But obviously if you can get that much space in a neighborhood you like for 2G less per month its hard to argue with.
Here’s 4 bedrooms, 3 baths, Elevator, Doorman, etc in Prospect Heights/Park Slope for $4900 a month.
http://newyork.craigslist.org/brk/fee/1027224067.html
This is arguably in a better location and costs at least 1-2K less per month (to rent) than to buy the Clinton Hill place…
Right on Plaza Street, elevator building…4800/month
http://newyork.craigslist.org/brk/fee/1037006342.html
Here was the actual craigslist link…
http://newyork.craigslist.org/brk/fee/1047661724.html
Wasder, fair enough. I think Clinton Ave is probably prettier also, but if I had a family big enough that I needed this much space, I think I’d prefer to save the 30K per child on school and take the PS place.
There is SOME difference for loving something enough to buy over rent, but not when the numbers are THIS out of whack.
I just found 100 listings of 1500 plus square feet in Prime Brooklyn neighborhoods for 4K a month or less.
So why would you buy something exactly the same for 6K or 7k a month?
MacD–lived there from 02 until about 6 months ago.
Some of you need to familiarize yourself with craigslist sometime.
Here is a 4 bedroom 2200 sf loft in Clinton Hill renting for $3595 a month.
http://newyork.craigslist.org/search/aap?query=clinton+hill&minAsk=3000&maxAsk=max&bedrooms=
Maybe it’s missing the PT doorman, but so what. It’s 2K less to rent this LARGER space than it is to buy the one listed here today.
There are PAGES of listings for nice huge, family friendly places in Brooklyn (in MUCH better locations than this with good schools) for less than 4K a month.
The dudeabides is correct.
This used to be my old building too, Wasder. Loved living here (2001-2007). I know the owner of this apartment, and yes it is two combined. She has put extensive time and money into renovations. The people who used to live above her also had the apartments combined (without much renovation. when it came time to sell, they couldn’t get as much for the whole, so they put a wall back and sold the two apartments individually. Made at least a million — or very close to it — if I am not mistaken. Might be something to consider here — although theirs was for sale in 2007. Anyway, good luck to the seller! Certainly wish her luck.
sam…he’s one of those OCD people who will never buy a place unless all the numbers agree. He doesn’t understand that many people might actually pay up to live in a place that really fits their needs, they are in love with and want to live there for a long time. He’s probably not a very happy person. Lives alone. Nitpicks at work and is a generally annoying person to be with. He will split the bill at a restaurant item-by-item.