Co-op of the Day: 101 Lafayette Avenue, #17C
We’re huge fans of The Griffin at 101 Lafayette Avenue and the views from this 17th floor studio look killer but the trade-off is size: There’s no exact square-footage provided, but the apartment can’t be a whole lot more than about 400 square feet. (There is a murphy bed though!) Given the size, both the…
We’re huge fans of The Griffin at 101 Lafayette Avenue and the views from this 17th floor studio look killer but the trade-off is size: There’s no exact square-footage provided, but the apartment can’t be a whole lot more than about 400 square feet. (There is a murphy bed though!) Given the size, both the monthly maintenance of $661 and the asking price of $345,000 feel a bit on the high side. On the other hand, the building and floor are special so maybe someone’ll fall in love.
101 Lafayette Avenue, #17C [Corcoran] GMAP P*Shark
I love that building, but it’s all studios and one-bedrooms, correct?
And yeah, with Manhattan studio prices falling, outer borough ones are going to correct severely, I think.
I am 28 and bought my studio 2 years ago at 26. I didn’t pay anywhere close to 300K for it though.
I don’t know anyone under the age of 35 who can afford to buy property here, anyway. 😛
Rob — unless they are totally paying for it with money they earned — nothing given. Then I agree with you.
i dont think people under the age of 35 should be allowed to buy property.
*rob*
Just as a casual observation, I’ve noticed that a bit more than $600psf is moving apartments in nicer areas southwest of Flatbush Avenue, so I’d say about $600psf or less for northeast of Flatbush should do it. $345,000 is totally insane. I voted $240,000, but only if it sells in the next few months. If it sits around until the end of the year, my guess is more like $500psf.
My friend just accepted an offer on his 300 SF studio in an elevator building on prime block on the UWS – $235,000.
The market is basically single people just starting out in the city, kids who just graduated from college and got an entry-level job or whatever, right? And then narrow it to the subset with $50-60k cash on hand, which is to say narrow it to people whose parents will give them a down payment. But a lot of such parents are afraid of Brooklyn. 400 sq ft in popular neighborhoods in Manhattan is what, $450,000 or so? $500,000 maybe? Seems to me you need much more than a $100,000 discount to make it attractive for those buyers. I can see this going for $275,000, but not over $300.
For the record, I put $220k but would not personally pay that.