Co-op of the Day: 56 Garden Place, #2
This attractive floor-through co-op at 56 Garden Place in Brooklyn Heights just hit the market asking $785,000. Despite the location and the fact that the apartment was recently renovated, this price would seem like a stretch for the small two-bedroom (especially given the $901 monthly maintenance) were it not for the large deck it boasts….
This attractive floor-through co-op at 56 Garden Place in Brooklyn Heights just hit the market asking $785,000. Despite the location and the fact that the apartment was recently renovated, this price would seem like a stretch for the small two-bedroom (especially given the $901 monthly maintenance) were it not for the large deck it boasts. Think the outdoor space makes the asking price achievable?
56 Garden Place, #2 [Brown Harris Stevens] GMAP P*Shark
With 20% down you’re still talking around $4,000 a month. If you can afford that is this really exactly where you want to be? For $901 what do you get other that a walk up sandwiched between upstairs and downstairs neighbors without any real sound/vibration isolation?
You do get my joke about $400/wk, anoMaly, right? Unemployment checks…ha ha ha hee hee hee! I was there several years ago – company went under. Is that what the state still pays, $400/wk?
***Bid half off peak comps***
Stuff in Williamsburg is trying to sell for close to this without the deck, so it seems reasonable to me. It’s location, location. If this price falls, then so should three-quarters of the two-bedrooms currently on the market.
Tiny. Expensive.
BHO usually annoys me but that was a funny joke.
Re: Water & Property Taxes: water on a FULL townhouse is maybe $1,000 a year and R/E taxes are ~$3,000. Those two going up are not influencing any buying decisions at these price points.
Income Tax is another story … good thing Albany is paralyzed by incompetence (for now).
Fine, it’s a deal. I will be happy to buy you a beer (I bet it won’t cost me more than a buck then) when the average HHI gets to $400 a week.
“water taxes”
For what? Water is free for the underwater.
***Bid half off peak comps***
anoMaly – my assumptions (including the older ones about things like…ah…umm…a recession, a drop in rents, DJIA falling to 8,000) are laughable today but confirmed tomorrow.
***Bid half off peak comps***
Price to rent ratio is still extremely high. Rents are falling in the immediate neighborhood, and I don’t think you’d get 3500 for this (and couldn’t keep it rented at that price).
Also, NYS taxes for the rich are going way way up as are property and water taxes -> less money to spend on RE