Co-op of the Day: 358 Eastern Parkway, #8
This two-bedroom, two-bath co-op on the top floor of 358 Eastern Parkway in Prospect Heights has nice vibe to it–prewar deets plus updated kitchen along with nice light. The railroad-y layout may not float everyone’s boat, but for the buyer who will still have some cash lying around after ponying up for the $555,000 asking…
This two-bedroom, two-bath co-op on the top floor of 358 Eastern Parkway in Prospect Heights has nice vibe to it–prewar deets plus updated kitchen along with nice light. The railroad-y layout may not float everyone’s boat, but for the buyer who will still have some cash lying around after ponying up for the $555,000 asking price the roof rights certainly sweeten the deal. The maintenance is an eminently reasonable $560 per month. You like-y?
358 Eastern Parkway, #8 [Corcoran] GMAP P*Shark
if you mean rebranding in the sense of douchey things to do for hipsters and yuppies, then yeah i guess youre right :-/
harlem will always have a special place in my heart, even tho i really wanted to get out of there as fast as i could.
way too much hardcore drug use up there for an impressionable lil snowflake like myself.
*rob*
Sorry, meant “re-branding”
I am not sure why crown heights has more “cool factor” than harlem or wash.heights but you can find something similar in other manhattan heighborhoods–look at nytimes ads there are places in LES, etc
The problem with comparing these areas, is that Brooklyn just has a lot more “cool” factor than Harlem or Washington Heights and Inwood. Not to mention that it’s a quicker commute to downtown Manhattan than it is from uptown Manhattan and many young people do socialize downtown.
I used to recall many of my friends who wanted a cheaper space would move to Harlem, Washington Heights 5, 6 years ago, and now no one even looks there anymore…it’s Brooklyn all the way. Even the Musical Theatre people who used to congregate in droves up in Washington Heights seem to be trickling out to Brooklyn.
Brooklyn has done a great job “re-randing” itself, I’ll say that.
As for this apartment, it looks nice but overpriced by 100K.
I don’t understand the rent/buying dynamics either — that’s why I think we either needs some massive inflation (which would be ugly), or some massive real estate deflatin (which would also be ugly.)
That being said, speaking of Inwood and Washington Heights, there are 2 bedrooms right now going in Hudson View Gardens on Pinehurst for close to this price. True, I’m sure the co-op board there is scary, and maintenance slightly higher, but that place is spectacular and the immediate area is about a million times nicer.
“Parkway”
No other comment.
Brokedeveloper,
if market is logical, you’re right in that prices will have to come back but we haven’t seen prices match rent valuations in a super long time. The monthly outflow on a price anywhere close to 500k plus the 700 maintenance puts total close to 3000/month.
Billbutter,
would you say 500k makes sense when you consider that you can rent something much bigger, better pre-war details (going with “better” since I notice this has no fireplace, pier mirror,…), washer dryer, … comparable (albeit I would say better) location for 2000/month? I curious to hear logic how 100k down paymt, $1000 more per month, smaller place makes sense. Owning has it benefits but not when prices are this much higher than rents. rent now, buy later if prices come down to rational levels. I’m not picking on you but rather curious to understand how buyers today can rationalize such a massive diff vs rent
The listing price is ridiculous-easy to find a 2br in Manhattan for this money (ie harlem,wash.heights) no need to hike to crown heights!
Wait, my broker told me Nostrand was the border of Prospect Heights! She said $1,600 bucks for a one bedroom in such an ‘up and coming’ neighborhood was a steal!