Co-op of the Day: 160 Columbia Heights
You had us at the view…This one-bedroom at 160 Columbia Heights has a unique perch overlooking the Brooklyn Heights Promenade; the building’s also got a very cool Art Deco awning. On the downside, the 750-square-foot apartment has a fairly onerous monthly maintenance of $1,207 (but, in fairness, it includes all utilities). The asking price is…
You had us at the view…This one-bedroom at 160 Columbia Heights has a unique perch overlooking the Brooklyn Heights Promenade; the building’s also got a very cool Art Deco awning. On the downside, the 750-square-foot apartment has a fairly onerous monthly maintenance of $1,207 (but, in fairness, it includes all utilities). The asking price is $599,000. Do you think that’s achievable?
160 Columbia Heights [Corcoran] GMAP P*Shark
cw, you are right about that too. I have windows open all winter long.
This apartment is insanely overpriced. I’ve heard all of the pros of Brooklyn Heights before, and I don’t care. I would never pay this much for a one bedroom, there or anywhere else, even with reasonable CC’s, let alone at $1200/month.
Also, those of us who run the AC from April to November wouldn’t have to do so if most buildings didn’t crank their steam heating fully open as soon as the temperature drops below 85 degrees out. 😛
I see a “dining foyer” not the same as a “separate full dining area,” and decent-sized living room and bedroom. Not sure that it adds up to 750sf, but okay, nice view.
But at $1207 a month, the maintenance is almost twice what it should be, so they try to ease the blow by adding “includes utilities.” In my case that’s $36. a month to Con-Ed and $12. to Keyspan. Okay, so the “maintenance” then would be only $1159!!! And I’d get to subsidize all the people who turn on the air conditioning on April 1 and turn it off on November 1. What a deal.
If they lowered the maintenance and filled the building with hot Swedish nympho’s I might go to the open house.
“While the maintenance is out there, I think the asking price for an apt in that nabe, so close to the subway, with that view is pretty reasonable”
So… a “reasonable” price can be magically divorced from the maintenance fee? My pretty new refrigerator only cost $150. My electric bill is now $250 more per month, but that refrigerator is very reasonable!
“Real estate tax, underlying mortagages and building service personnel, especially unionized ones, will jack a maintenance way up. Brooklyn Heights building owners definitely have higher RE tax and this one, I think, has doormen.”
Posted by: Bessie at March 17, 2009 1:36 PM
Very true.
Brownstones 2 blocks from the water run in the neighborhood of $40,000 a year in RE tax (3 blocks away it’s down to about $30,000). I can only imagine what a building of that size right on the water would be. Gotta a huge tax bill.
And the employees, if they are union there are the benefits the building is paying as well (health, retirement, etc) in addition to salary.
In addition, co-ops love to have huge reserves, so the monthly fees might be going to a lot of reserve capital.
I don’t agree with crazy high carrying charges, but it is easy to see where some of them come from.
This place is ugly and it sucks – how common!
While the maintenance is out there, I think the asking price for an apt in that nabe, so close to the subway, with that view is pretty reasonable, and I definitely see it closing at or near asking
May I just say… this place is REALLY expensive. I don’t care about “location” or “value” or “market” It’s just objectively crazy priced.
Again, I’m not saying it won’t get that price (and maint fee) or that’s what the price tag has to be to pay off the current owner’s mortgage… it doesn’t take away from the objectively nutso price for a not exactly enormous apartment.