Co-op of the Day: 135 Prospect Park SW, #F12
This one bedroom at 135 Prospect Park Southwest is both beautiful and large. It has nice prewar character and views of Prospect Park as well. At $458, the monthly maintenance is also quite reasonable. If this were on the Park Slope side of the park, the asking price of $399,000 would seem quite reasonable. Its…
This one bedroom at 135 Prospect Park Southwest is both beautiful and large. It has nice prewar character and views of Prospect Park as well. At $458, the monthly maintenance is also quite reasonable. If this were on the Park Slope side of the park, the asking price of $399,000 would seem quite reasonable. Its location in Windsor Terrace, while very nice in our book, certainly makes the price more challenging. Not impossible though. Do you think they can get it?
135 Prospect Park SW, #F12 [Brown Harris Stevens] GMAP P*Shark
Chicken… I have several English friends and it’s just a sad reality that idioms are truly idiomatic!! Many don’t mean the same thing here. And sometimes the opposite.
Putting it another way…. you’re paying $4,246.75 per month for the first 4 years!
Let’s say that again, $4,246.75 per month or $203,844 for four years in a 1-Bedroom apartment at 135 Prospect Park Southwest. That’s over $50k per year! OH, and that’s only if the monthly maintenance stays EXACTLY the same for the whole time… likely?
Here’s the Math:
47 months x $1913.77 = $90,000 downpayment
48 months x $1913.77 = $91,860 mortgage
48 months x $458 = $21,984 maintenance
Total = $203.844 / 48 = $4,246.75 per month
In 2013, your costs plummets to the low low monthly price of $1,913.77 plus whatever the hell the maintenance fee has become by then…
“so my rent is 2400 a month in the apt i live in. so i can feasibly tell people i live in a half million dollar pad? sweet.
*rob*
Posted by: PitbullNYC at March 19, 2009 2:05 PM”
You can Rob but soon you will only be able to say that you live in a $300k apartment!
(Chicken… “bite my hand off,” as in “Don’t bite my hand off.” is usually only used in a negative sense of impatience, not positive excitement. Thought I’d be helpful with idioms today!)
Posted by: tybur6 at March 19, 2009 1:34 PM
http://www.english-test.net/forum/ftopic650.html
C’mon english stoners, little help?
Uncle Louie G’s. A complete diet.
Squaredrive… I accept your math.
20% down at 6% = $1,913.77 + 458.00 = $2,371.77
This is the monthly cost for a 1-Bedroom Apartment, approximately a 10 minute walk from the F-train or 15 mins to the Q-train. It does have a “park view” and it’s across the street from the park. It’s pretty much in the middle of nowhere in terms of “stuff.” It’s the same 10 or 15 mins walk to buy things… unless you count Uncle Louie G’s, which I might.
Oh, and the above math does discount that fact that you just plunked down $90,000. But, I guess that’s not a lot of money (it’s 37 months of $2,371.77)
Is this *honestly* reasonable? What is the “type” of person that is going to want to buy a 1-bedroom apartment? Is this an appropriate cost for that person/couple?
so my rent is 2400 a month in the apt i live in. so i can feasibly tell people i live in a half million dollar pad? sweet.
*rob*
20% downpayment = no PMI. 5.5% is a reasonable expectation I believe, so carrying cost for this apt with 20% down as it stands is $2260-ish. Math is not really that subjective.
Even if you go to 6% interest (you can certaintly do better) you’re below 2500 total.
(And thank you Redwes… the $3500 figure was for the $450k place up the street Bessie made reference to. That’s why it’s the second sentence immediately following “Seriously? $450,000 in that Soviet-style looking place up the hill?”)
As a side-note… thank you for confirming my $2500+ figure for this $399k property.