Co-op of the Day: 55 Pineapple Street, #7H
This studio at 55 Pineapple Street isn’t exactly expansive, but it is an attractive apartment in an attractive building in Brooklyn Heights. And it’s under $300,000. $279,000 to be exact. The maintenance of $648 seems a little steep for a 420-square-foot place in a non-doorman building. After tax, a new owner would end up with…
This studio at 55 Pineapple Street isn’t exactly expansive, but it is an attractive apartment in an attractive building in Brooklyn Heights. And it’s under $300,000. $279,000 to be exact. The maintenance of $648 seems a little steep for a 420-square-foot place in a non-doorman building. After tax, a new owner would end up with a monthly after-tax tab of around $1,600. Worth it?
55 Pineapple Street, #7H [Douglas Elliman] GMAP P*Shark
Thank you for your feedback on this property. I’m the agent and happy to report that it is in contract for an amount close to asking price. Also, I have a wonderful new photographer. Please feel free to check out her work on my other exclusive listings in the area (#1142926 & #1118542).
Snappy, do you mean that even $100,000 would be too much?
Late to the party here…call me crazy but 6 figures for 420 sq ft is beyond ridonculous. I don’t give a rat’s patootie where it is, building amenities, etc. But, for someone, this is likely a ‘good deal.’ Sigh.
williamsburgguy:
I don’t know too many bedrooms that are 420 sq. feet.
I’ve known six people who live or lived in studios for between 15 and 40-something years. And I don’t know a lot of people. Three of those people are still satisfied and do not think of moving. (One owns.) One, my sister, liked everything about it except the noise from the street which had nothing to do with it being a studio (2nd ave., East Village) and only moved after meeting her now husband. She lived in the studio for 15 years. For the other two people, it was a compromise.
Also, I’m not sure how you know that a real estate boom will never happen again.
Probably will go somewhere near ask, however how do people cope with living in essentially a glorified hotel room with no closets and no storage room for anything but yourself. I can see renting a studio for a short-term single person who doesn’t mind living in what would normally be considered about the size of a decent bedroom, but to actually buy something and spend those kind of monthly payments for something that will never again triple your money in a year is beyond me. Nowdays it’s buy what you want to live in and expect to get the same or lower in a few years when you go to sell, but windfall profits for small spaces are a thing of the past. With that in mind I would just keep renting a space like this because after a year or two the walls will really start closing in on you and you will lose money from closing costs and all those monthly charges if you don’t stay there for quite some time.
Sorry — read too fast — thought it was 59 Pineapple, which does have a roof deck, and is a fabulous building. Still a good price for location.
broke, it’s the effort that counts!
Sorry the Jason Seaver comment was intended for HOTD.
55 Pineapple broker babble (‘nother listing) – “The building has an elevator, live in super, common courtyard, laundry and a bike room.”
59 Pineapple, however, DOES have a gorgeous common roof deck.
🙂
Think this one will go close to the ask; terrific location, well-run building. CC are high, but not too far out of line with the rest of the Heights (which is virtually always 1.25-1.50 psf).