Co-op of the Day: 32 8th Avenue
This floor-through co-op apartment at 32 8th Avenue in Park Slope is the best deal we’ve seen in a while. The 900-square-foot one-bedroom has all of the exquisite detail one would hope to find in a Park Slope brownstone, from the beautiful wood moldings to the inlaid parquet floor. A small extension on the rear…
This floor-through co-op apartment at 32 8th Avenue in Park Slope is the best deal we’ve seen in a while. The 900-square-foot one-bedroom has all of the exquisite detail one would hope to find in a Park Slope brownstone, from the beautiful wood moldings to the inlaid parquet floor. A small extension on the rear of the building also means that they layout works much better than your standard floor-through conversion. We’re going to go out on a limb and say that we wouldn’t be surprised to see this go for more than the asking price of $599,000, which would be quite an achievement in this market!
32 8th Avenue [Corcoran] GMAP P*Shark
Only someone not well acquainted with NYC history would assume that the City will grow in the next ten years. Most of the latter part of the twentieth century the city shrank. down from its peak in the 1920’s. That peak was finally surpassed by 1998 or so. The growth of NYC is inexorably tied to foreign immigration. Without a constant flow of immigrants, the net population would shrink.
So it would not be at all surprising that contrary to Mike Bloomberg’s 2030 plan, the city could lose population rather than gain it. And it will shrink if the local economy keeps shedding jobs. No one moves to NYC for the climate or the easy life style.
F. Continuing price declines for two years, crazy growth again after that, but still takes eight to ten years from now to get back to 2006 prices.
LOL Snark!
> “do we really think that a city like NYC will have zero growth for 10 years?”
I can’t speak for “we” but I can speak for me. Why would you expect the population to increase dramatically? Are millions of people going to wake up and say,”Hey I’m unemployed and broke, I’m moving to the most expensive city in the country…”
Miss Muffett, if you look back you’ll also notice that there’s always one killjoy that votes the price down to the lowest range as well. It balances.
So typical MM. While yes…someone did vote for an absurdly high price on this one and most others (last week I suggested we throw out the highest and lowest bids) but why do you not make a comment about there being an absurdly low one also…370K…?
You continually talk down the market, which in your position is what you need to do, I suppose, but it really makes for a monotonous and sometimes foolish appraisal of where things REALLY stand in the market when you aren’t able to articulate both sides.
MM – i actually think there are more irrationally low ‘appraisals’ on these widgets than high. Looks like there are at least 4-5 below 400K for this. So I assume it evens out.
NJ also requires that the seller use an attorney. I don’t think that’s the case in NY??
there is a one-appraisal limit. 1 or 2 outliers shouldn’t make much of a diff if 50 or 100 people are voting. the allowable range is capped at within 40% of the asking price so you can’t go too nuts.