Co-op of the Day: 328 Clinton Avenue, #3
This two-bedroom, two-bathroom duplex co-op at 328 Clinton Avenue in Clinton Hill has a very nice vibe to it—lots of original detail and the kind of spacious vibe you’d expect from a Victorian brownstone. (We’re guessing the square footage comes in at around 1,300.) It’s currently set up for family living right now but we’re…
This two-bedroom, two-bathroom duplex co-op at 328 Clinton Avenue in Clinton Hill has a very nice vibe to it—lots of original detail and the kind of spacious vibe you’d expect from a Victorian brownstone. (We’re guessing the square footage comes in at around 1,300.) It’s currently set up for family living right now but we’re thinking this would make a pretty sweet pad for a childless household if you could just open up that lower level into one giant living/dining space. The maintenance is a reasonable $855 per month and the asking price is $860,000. Think that’s achievable in this market?
328 Clinton Avenue, #3 [Brown Harris Stevens] GMAP P*Shark
Hmm. Can anyone pick out the broker in this lineup?
I saw this place over the weekend at the Sun OH and its much grander than it looks in the pix. They removed the big gates from the parlor room windows since those photos were taken. What they dont show in the pix are the two spa like renovated bathrooms, very smartly done. And the private deck is quite breathtaking. Tons of storage and a big plus is the central AC! Maybe not 860 but not so far off as comp places are going for around that in Clinton Hill/Ft Grn.
I also saw the 2 br across the street and its much less desirable, talk about a cut-up apartment, and its four flights up, no private outside space either.
Fall for your gloom and doom prophecies, BHO. Wasder is happily living in a house and neighborhood he loves, with substantially less overhead and substantially more space, building up his equity and collecting rent. And trust me, his house will not be worth half what he paid for it–at least in his lifetime.
Let’s see where Wasder is and where you are three years from now.
Wasder, I have to laugh for another reason: I recall a dinner many years ago with a number of female friends and one of them said as soon as a man said Blood on the Tracks was his favorite (break-up) album, she ran for her life, and then all the others at the table said, Come to think of it….
You folks are so tangential sometimes – you make me laugh. You are far more comfortable discussing hypothetical rental apartments than the property in front of you. After seeing my old place listed for ten times its purchase price of ten years ago, and even its widget value eight times as much, I feel more sure that prices have a long way to drop. I always explained my good deal by the referring to the impact of race. When I bought many white folks were still not seeing Clinton Hill as an acceptable neighborhood. Too black. But even if we posit that this has changed, should an apartment cost that much more?
“Make the best of it, wasder. You’ll do fine.” Thanks dude. Seriously. Sorry I have been such a bitch to you sometimes. You have a POV and you advocate for it. I have a POV and I do my thing and we all can live and let live.
These kind of apts rent for $2200/$2300 in this market. Which means if you decide to buy it and pay the same monthly including maintenance, you shouldn’t offer more than $340K (including 20% down on 30Y @ 5.8% fixed)
Remember when you buy you take additional risks vs renting. These risks should factor in your price. There is no viable reason why you should be paying more to buy than to rent. Especially in a declining market.
Fall for what, dylanfan? I’m telling the guy to be prudent and he’s already doing it. History says we’ll be fucked for some time.
Make the best of it, wasder. You’ll do fine.
***Bid half off peak comps***
No they certainly aren’t palaces for $2500, but they are 2 bedroom apartments (some in PS. 321) and are within the actual borders of Park Slope.
“Brace for impact.”–I’m as braced as I can be at this point. The good thing is that I am enjoying the hell out of my house with the nice weather. Tomato plants and fresh basil in the ground, lots of flowers in the flower beds and YES even grass growing. My garden is looking awesome and my grill is cranking on the deck. I have saved what I can save and I am prepared for most contingencies so I will ride out whatever comes.
dylanfan—thanks! hopefully you are right but I definitely am not going to make any definitive statements about anything except the fact that I am super happy living in my house. BTW I am also a major dylan fan, most especially of the Blood on the Tracks era.