Co-op of the Day: 28 Old Fulton Street, #5E
Compared to a lot of the apartments in the Eagle Warehouse, the layout of this 1,820-square-foot loft feels spacious and natural. (Not surprisingly, it could benefit from some bigger windows, but what’re you gonna do.) It’s a real two-bedroom with a very large living area. The bathroom could stand to be spruced up, but we’re…
Compared to a lot of the apartments in the Eagle Warehouse, the layout of this 1,820-square-foot loft feels spacious and natural. (Not surprisingly, it could benefit from some bigger windows, but what’re you gonna do.) It’s a real two-bedroom with a very large living area. The bathroom could stand to be spruced up, but we’re loving the columns and open feel of the living room. The monthly maintenance is a reasonable $1,229. The asking price is $1,349,000. Predictions?
28 Old Fulton Street, #5E [Harvey Bernstein] GMAP P*Shark
“Predictions?”
The windows won’t get any bigger.
$1M+ apartment and the microwave is on top of the refrigerator.
I would get so tired jumping up to heat my food, I’d go hungry.
Nice open living / dining area.
RIP OFF
Patched walls? Serious? This place is a bargain at $1.34 million! They shouldn’t be expected to fix the walls at that price.
I’d make sure I wrote in the contract that all those holes in the walls to hang all those photos be fixed…and not with toothpaste the day before the walk-through.
The difference between a condo and a coop besides how you own it is the underlying mortgage that most if not all coops have. The Coop corp owns the building and only leases you your part. The Condo you own it and a undivided share of the common area. Normally if you look at the price per room on a coop and a condo and divide your portion of the coop mortgage the per foot price should be fairly close for the same location. the coop price should be lower to you to recognize the share of the coop’s mortgage that you have to pay on.
“Proud we are to present our new exclusive.”
When did Yoda go into real estate?
Yeah – I never got the “underlying” mortgage part of the fees. I get that what I am buying is really just occupancy rights and I don’t actually own anything concrete… but why o’ why would a property have an “underlying mortgage”? Seems like bad business…
I also don’t quite understand this stuff.
Main room looks good, if cluttered. Can’t see much evidence of the hand of the ‘award winning archtiect’ in this place, though. Bathroom is a serious problem, and possible dealbreaker for some (even as a single guy, it would give me pause). Kitchen also looks like it needs an upgrade. Would guess it sells somewhere around $1mm a few months from now.
Mike D – largest items for maintenance charges are paying the underlying mortgage, paying real estate taxes, paying building staff and general maintenance of the fabric of the building. As a shareholder, there is accountability but no control, unless you are on the board yourself. I am sure others can explain it much better than I can.