Co-op of the Day: 100 Remsen Street, #8K
This one-bedroom at 100 Remsen Street in Brooklyn Heights has just changed broker directions. After buying the 750-square-foot apartment in May of 2007 for $430,000, the current owner put the place on the market in April for $525,000 for a month before yanking the listing; two weeks later, it popped back up with Corcoran asking…
This one-bedroom at 100 Remsen Street in Brooklyn Heights has just changed broker directions. After buying the 750-square-foot apartment in May of 2007 for $430,000, the current owner put the place on the market in April for $525,000 for a month before yanking the listing; two weeks later, it popped back up with Corcoran asking $499,000. This place isn’t for someone whose obsessed with things like plaster crown moldings and six-panel doors, but it’s a fairly-sized unit in good shape with nice windows. What do you think this ends up going for?
100 Remsen Street, #8K [Corcoran] GMAP P*Shark
You need to keep that mtg deduction in mind, it’s what paid for my kicthen reno.
sure, agreed-you cant assume every year you’d get this benefit—epecially in the later years when paying down the principal but most years early in the mortgage you are essentially paying down only interest so you’ll get a nice rebate. Needs to be taken into account.
CWB – I can’t agree more… it’s inevitable that someone pipes up with the ol’ mortgage payment tax deductions. It’s soooooo overblown.
The mortgage deduction comes out of your gross income — that means it reduces your tax liability on your income. This doesn’t necessarily yield a whole lot. It might and you’re lucky. Or it doesn’t do much.
And what if it works out for you in year 1 and 2, but then something changes in year 3?
One wonder why the buyer is selling only one year after purchasing.
Different people are looking for different things, clintonhillbuyer. Personally, I wouldn’t want to live in the fugliest building in Brooklyn Heights. If you love the interior and the price, then buy it. But just because you don’t care about what it looks like on the outside doesn’t mean that other people want to live in a truly barf-y looking building (the lobby and elevator are pretty barf-y as well, feels like a dam hospital elevator).
one-bedrooms with high maintenances like this are not selling at any price. He should sublet.
$499K LOL! Good luck with that! If he/she gets $400K for this place I’d be surprised. Can’t blame the seller for trying though.
How is such a maintenance justified by a buyer?
Unless you’re paying quite a bit less for the apartment than straight market value, why would someone ever sign up to throw away $1,000+ a month to maintenance?
I’d rather pay slightly more for an apartment with a lower maintenance. Wouldn’t everyone?
The maintenance is way too high, I would want to seriously look at the building’s financials before forking over $500,000 for this place. I’ve been looking at 1BRs in the 600-750 square foot range in Brooklyn Heights, Park Slope, Clinton Hill areas and can attest that the average maintenance seems to be around 700-800. I remember checking out a 1BR in this building a few years ago and the maintenance wasnt nearly that high. Something must have happened.
So while this looks like an awesome apartment, they should be knocking down the price to offset the high maintenance. And please gimme a break with all this “no crown moldings” “not a charming building” crap. Some of us care more about getting acceptable living space with closets and light and a workable kitchen than about crown molding and charming exteriors.
I spend a lot more time in my apartment than I do on the street staring at the building.