Co-op of the Day: 96 Schermerhorn Street, #9G
This listing at 96 Schermerhorn Street in Brooklyn Heights could use better photos and is only for the young and agile given the precarious ladder to the bedroom, but the views and high-ceilings might be enough to catch the interest of some young whippersnapper. Of course, he’ll have to come up with 20 percent of…
This listing at 96 Schermerhorn Street in Brooklyn Heights could use better photos and is only for the young and agile given the precarious ladder to the bedroom, but the views and high-ceilings might be enough to catch the interest of some young whippersnapper. Of course, he’ll have to come up with 20 percent of the $315,000 asking price and be ready to pay the monthly maintenance of $868, which isn’t so bad considering it’s a doorman building.
96 Schermerhorn Street, #9G [Corcoran] GMAP P*Shark
where did you people go to school?
315k – down payment (63k) = 252k. @ 5% interest = monthly mortgage of $1,352.79. Plus the maintenance equals total monthly payment of $2220.79. And it’s not fair to compare that a a rental price because of the tax deductions. Given the tax benefits spread over the year, your actual out-of-pocket monthly is closer to $1600-1700, at least for the first few years.
that being said, still overpriced.
http://www.nytimes.com/2007/03/08/garden/08chambers.html?_r=1&oref=slogin
a more typical apartment inthe building
There are no bedbugs. The hallways do not smell of urine — you have obviously not been in the building — and it was the original St. John’s University Law School.
Also, it is, for what it’s worth, in Boerum Hill, which ends on that side of Schermerhorn. There are a couple regular one-bedrooms for not much more in the building.
quote:
what sort of people who are only making $100k a year have 63k+ saved up just for a down payment?
duh dont you KNOW? everyone gets their downpayments from mommy and daddy in NYC. :-/ and people aren’t even ashamed to admit that, which i find hysterical.
*rob*
and this is what sucks about the sort of places i can actually afford to buy at our combined income level of ~100k:
asking price: $315k
down payment: $63k
total monthly cost: 2544. for a studio loft. that’s not even in a real neighborhood.
what sort of people who are only making $100k a year have 63k+ saved up just for a down payment? even if we had that sort of cash, with the maintenance it’s unaffordable.
quote:
“the hallways smell of urine, the apartments all need to be gut renovated, and in general I got a really bad feeling about the place.”
this is also the kind of building that just SCREAMS bedbugs a mile away.
*rob*
You might need one of these to save an extra time up and down the stairs in the middle of the night:
http://www.stadiumpal.com
Figure this studio would rent for $2,000. Rent to own equivalent price of $250,000.
i rented a place my senior year of college where i had to use a ladder to get in and out of bed. :-/ i started looking like a battered housewife with all the bruises and bumps i was getting on my body i wound up just sleeping on the floor. taking a ladder in and out of bed is ridiculous.
it does save space but it gets annoying FAST!
*rob*
Here’s some trivia for you. This building used to be part of the small downtown Brooklyn “campus” of St. John’s University. The main campus is in Jamaica, Queens, but they had a smaller Brooklyn outpust. They moved this nnex to Staten Island in 1971. My older brother was a member of the last class that graduated from the old Brooklyn St.John’s.
Back to appraisals!