Co-op of the Day: 39 Remsen Street, #1E
This ground-floor two-bedroom at 39 Remsen Street first hit the market in March 2008 with an asking price of $749,000. Since then it’s undergone five price cuts and is currently asking $610,000. The layout’s nice, as are the high ceilings. Obviously the big drag on this place is the lack of light and views, but…
This ground-floor two-bedroom at 39 Remsen Street first hit the market in March 2008 with an asking price of $749,000. Since then it’s undergone five price cuts and is currently asking $610,000. The layout’s nice, as are the high ceilings. Obviously the big drag on this place is the lack of light and views, but we don’t think the Ikea kitchen and white appliances are helping the cause either. Lack of a second bathroom may also be a turn-off to some buyers. Where will it end?
39 Remsen Street, #1E [Brown Harris Stevens] GMAP P*Shark
Thanks, Heather and mopar.
“Is there really a direct inverse relationship between high maintenance and lower price?”
Sometimes. But what really depresses price is a high down payment requirement.
I would guess they may get close to ask on this. A lot of people prefer to live on the first floor (no stairs). I think some folks looking in less convenient neighborhods may realize they can suddenly afford Brooklyn Heights. This is a nice home. And the block can’t be beat.
Sweet layout. Great area.
Nice job to open up the kitchen/dining/living area to maximize light.
Well-staged, too. Yes, maint. is on the highish side, but not a deal breaker for BH. I think price reflects that, anyway.
But…I think the problem is that they priced too high out of the gate, and they’ve already chopped 20% in 5 cuts. What rational buyer wouldn’t assume they’ll continue to cut?
(Actually, I think 610K is a very good price. If you got this for 575k it would be a steal.)
four and a quarter tops.
Unless there’s a ton of cash buyers out there, Nomi, yes. Not a direct relationship, but since most people figure on what they can afford monthly, maintenance plus mortgage have to be factored in.
By the same token, if interest rates went up, prices would have to fall more too.
It’s a nice apartment, that price seems cheap for the neighborhood. Since the neighborhood’s blue-chip, it’s probably a good deal.
I am not so sure those are Ikea cabinets. And whatever on the appliances at least they are not cheap Stainless Steel.
Is there really a direct inverse relationship between high maintenance and lower price?
This seems like a good deal to me. It is Brooklyn Heights.
The building itself is very handsome and looks very well maintained. I have often admired it on my way to the promenade. It is not fair to describe this as merely a “good” location. It is an incredibly good location. Maintenance charges are high in Brooklyn Heights because it is a neighborhhod for the affluent. On the other hand you can save a lot on a car, because you don’t really need one there. And as people always point out, if the maintenance were a lot lower, the price would be a lot higher.