Co-op of the Day: 111 Hicks Street, #18F
The alcove studio on the 18th floor of 111 Hicks Street was recently renovated and listed with an asking price of $419,000. The views are to die for and the apartment looks to be in good shape; we’re not wild about the aesthetics of the kitchen or bathroom though. Are you? 111 Hicks Street, #18F…
The alcove studio on the 18th floor of 111 Hicks Street was recently renovated and listed with an asking price of $419,000. The views are to die for and the apartment looks to be in good shape; we’re not wild about the aesthetics of the kitchen or bathroom though. Are you?
111 Hicks Street, #18F [Halstead] GMAP P*Shark
> what is the benefit of keeping an alcove studio with a window a studio?
Open space. A place this small with too many walls would feel claustrophobic to me. Besides, if you live alone – and in my opinion this place is only big enough for one person – how does having a separate bedroom give you more privacy?
denton, there was a point where I deducted three mortgages and a heloc. Just did it. There was a law though that you were restricted to two residences. That law may have changed when they put the cap on for the amount you could deduct (which is huge).
When i started using an accountant in 2007, I just gave him the overall amount of mortgage interest. I had paid off one of the mortgages and the Heloc that year but there was still interest for them. I didn’t ask him that question because I didn’t want to raise a red flag.
Room 1 – Living Room
Room 2 – kitchen
Room 1/2 – Sleeping alcove
My experience is similar to 11217 – I was told not to even look in this building because the finances are bad, and the board is very difficult.
“If one owns a co-op and deducts both building morttgage interest and unit mortgage interest does that preclude them from deducting interest on a second home as well???”
DIBS, you should double-check with an acct but I lived in a coop for a number of years, also had a second place. I never had an issue deducting all three mortgages, and had a coupla different accountants over that time.
My thinking would be it’s the number of _properties_ involved, not the number of mortgages. For example, you could deduct main mortgage on a single family, heloc, and second home interest as well.
In fact for a time I had a small heloc on my coop as well, so I was deducting underlying mortgage, my mortgage, my heloc, and second home. Never a problem, in fact could probably get a heloc on second home and deduct that as well.
Umm… also, it’s a studio, right? That is to say, one big(-ish) room. Where does Halstead get this “2.5 rooms” figure? The closet in the entry way counts?
“Not sure exactly how any of them could be asking 420K these days.”
Because the owners are doing 420.
The aesthetics of the kitchen and bath is your only problem?!
jesus.
I agree, Dave. Nutso.
And as much of a Brooklyn lover as I am, if these were my two options, I’d take the place in the West Village.
It’s supposed to be that if maintenance charges are high, you price the apartment accordingly (i.e. LOWER).
As I said, the studios I looked at in this building in 2006 were 289K, 279K. Not sure exactly how any of them could be asking 420K these days. This one is sure to sit and rot.