Co-op of the Day: 27 South Portland Avenue, #3
How much more is a parlor floor studio worth than a ground floor studio? That’s the question that leaped to mind when we contemplated this detail-rich listing at 27 South Portland Avenue, currrently listed for $325,000, on the heels of Monday’s co-op of the day at 32 South Oxford Street. In addition to the ceiling…
How much more is a parlor floor studio worth than a ground floor studio? That’s the question that leaped to mind when we contemplated this detail-rich listing at 27 South Portland Avenue, currrently listed for $325,000, on the heels of Monday’s co-op of the day at 32 South Oxford Street. In addition to the ceiling height and architectural details, today’s studio is also on the rear of the building overlooking the garden rather than the street. Is all of this worth the extra $100,000 or so?
27 South Portland Avenue, #3 [Corcoran] GMAP P*Shark
TONY calls it the best block in NYC. Not Ft Greene. Not Brooklyn.
http://newyork.timeout.com/articles/features/4105/the-rankings-1-10
Nothing wrong with renting, especially in this economy, with layoffs forcing people to pick up and leave at the drop of a hat. Would HATE to be in that situation and stuck with a house to sell.
But, nerdy, I would make sure you don’t bury all your cash in your landlord’s pocket. One fine day you, like everyone else I know, will wake up with an inexpicable need to “own”. No one knows why this happens — much like marriage and children and all the rest of the crap that comes with the nesting thing, it just takes over and before you know it, you’re panting over open house ads. I know, I know, you’re “different.” and maybe you are. But most people are just regular folk. We want to settle down and call it Home.
I’m not seeing the dirty hallways people are referring to. I’m seeing some sort of gorgeous tile or marble which looks stunning to me. The paintjob, bannister and everything else about the common area looks PRISTINE to me.
yes. it will get very close to ask. so will yesterday’s if widget predictive powers hold.
better block, higher ceiling, more original detail, rear facing. yes, it gets a 30% premium.
I hear ya, 11217.
What I like about this COTD: The fireplace, high ceilings.
What I don’t like: Lack of closets, dingy kitchen, bars on the windows, dirty common hallway.
All of these comments are base solely on the the less-than spectacular photos.
“Why isn’t anyone responding to my excellent point? It’s been like 15 minutes! I have things to do!” (me0
Ooo, too many exclamation marks. Horrors. No wonder no one’s answering me .. . . .
We live across the street from this place, in a pretty damn nice parlor floor 2 bedroom, with a dishwasher, washer/dryer, and half of the garden. And we pay $2400. But, of course, I’m just an ignoramus who doesn’t understand the value of owning an overpriced, crappy studio, with a “garden view.”
11217, totally agree on a per sq ft on studios. My point is would that per sq ft premium be too big per this 325k asking price. I’m assuming some deep pocket people bought that south portland house I referenced (think it was a massive 4000 sq ft premo move-in beauty) at or a little above the 2.2M asking price. at the reverse math you calc’d (ie the 2.6M), is the 18% (2.6M vs. 2.2M) premium above an already premium price be too rich. Your 275k guess (ie reverse math of 2.2M) is more appropriate given the kitchen is so so, no pic of bathrm (ie so so at best)
Snark:
On that first one you highlighted in the Griffin, even with the lower asking price, the maintenance makes the place more expensive than this one at $1933 per month. Just fyi.
To me the Griffin was fine, but kinda dingy. A lot of the apartments in there needed upgrades to the kitchen and bath. And the view was nothing to write home about to me, but I’m not a view person.
I’d choose what looks to be a very pristine Brownstone co-op over the Griffin, any day. And I did, obviously. 🙂
I’d also rather pay a little more for the apartment to have a lower maintenance. But again, everyone is different.