Co-op of the Day: 170 Prospect Park West, #4L
We’re loving this three-bedroom prewar co-op at 170 Prospect West in Park Slope. Beautiful old details, lots of windows and natural light and, except for the fact that there’s only one bathroom, a nice layout; the rounded corner and the giant pier mirror in the living room are nice bonuses as well. According to our…
We’re loving this three-bedroom prewar co-op at 170 Prospect West in Park Slope. Beautiful old details, lots of windows and natural light and, except for the fact that there’s only one bathroom, a nice layout; the rounded corner and the giant pier mirror in the living room are nice bonuses as well. According to our back-of-the-envelope calculations the apartment is well over 1,000 square feet, making its monthly maintenance of $888 quite reasonable. The asking price of $849,000 feels about right too. Agree?
170 Prospect Park West, #4L [Brown Harris Stevens] GMAP P*Shark
I love the layout. I wish I could rent something like this. Hrm, and there’s reality for us all again… how much would an unrenovated apartment like this rent for? I can’t see it getting more than $3K/month and that even seems high.
Bolder – what I mean is that it’s listed as a 3BR, 1.5 BA and the broker was promoting the idea of putting in a second bath where the quarter bath is. So great, then you have a 3BR, 2BA but you are squeezing that amount of private space into not that much square footage. The thing about square footage in NYC is that there does not be a standard in terms of whether to use exterior walls or usable interior space so maybe it would be technically 1200 sf, but I think the usable feet is probably less. I’m not denigrating the size, just pointing out that it’s “efficient”, by which I mean there are a lot of rooms but each one if rather modest in size. I really do think this could be a lovely apartment for someone who invests the money to renovate it (and doesn’t mind a 4th floor walk-up), but that’s a significant investment and I don’t believe the current asking price reflect that realistically.
“maids make 65K a year plus free housing? wtf are you serious? 11217 give me that long blonde wig i think i found myself a new career!
*rob*
Posted by: PitbullNYC at June 22, 2009 3:15 PM”
Rob, there’s definitely a market for “Mannies”!
“And the layout is lovely and very efficient, but it really is not that big at all.”
Not meaning to harp on this, but how is it place less than 1200 sf? It’s 40-plus feet on the X axis, by 30-plus feet on the Y. I’m being extremely conservative, and I know it’s not a square.
I feel pretty confident in this because our apt has rooms that are just about identically sized (actually a little smaller all around), and it was appraised at 1276 sf.
But, if the walls and molding are as neglected as some people say, it won’t go for ask
To those who have not been there: the photos make this place look like it’s in much better condition than it is. Not that it’s a wreck – there’s a lot that’s nice. But it really does need a lot of work. And the layout is lovely and very efficient, but it really is not that big at all.
Total gut on the kitchen? I think I could make those cabinets work — paint them, change the hardware. But, yes, new floor and countertops/backsplash. Appliances? Eh, is it so horrible to have white appliances? I do now favor stainless steel, but with white cabinets, I could do with the white appliances for a while. Either way, I was glad that they put the kitchen photo in. I wish they’d do that more often; when it’s not there you imagine the worst. Here at least you know it’s not a literal disaster: You could live with it for a while if you had to.
just in terms of price/sqft in this area (assuming this place is between 1000-1300sqft) this place is definitely priced a bit high. 800-850/sqft is definitely on the high end of prime park slope apts these days, particularly given the necessary reno. i’d say you’d get a deal done in very low 800’s or high 700’s right now. and their shooting themselves in the foot pricing it higher, because a year from now they might be looking at mid 700’s or lower and wishing they’d sold realistically. the layout is great though.
I’m thinking that’s well over 1300 sf. Also thinking that I’d knock down the wall between the d/r and l/r. Walkup will drive off some, but it’s on PPW and maint. is low. I’d love to follow this one and see what it goes for. Two years ago this would have been 950k-plus, if not over 1 mil., so the ask is not unreasonable.
11217:
That’s why I wrote “it’s going to be a bumpy ride.” The market’s going to swing erratically, up and down. The current uptick may extend itself. It may also collapse, as it did three years after ’29.
NOP