Co-op of the Day: 70 Remsen Street, #7D
Here’s an attractive studio in a beautiful old building in Brooklyn Heights. The seventh-floor co-op at 70 Remsen Street, which is asking $319,000, has a nice clean feel as well as standard prewar touches. The monthly maintenance of $805 is less than ideal, but you are getting a full-time doorman and all your utilities thrown…
Here’s an attractive studio in a beautiful old building in Brooklyn Heights. The seventh-floor co-op at 70 Remsen Street, which is asking $319,000, has a nice clean feel as well as standard prewar touches. The monthly maintenance of $805 is less than ideal, but you are getting a full-time doorman and all your utilities thrown into the deal.
70 Remsen Street, #7D [CoreNY] GMAP P*Shark
Also, the price is higher because it is not a studio despite the fact that its listed as one. Its technically a “two room studio” as you can see from the floor plan here:
Its essentially shy of a one bedroom and ….
Posted by: reykjavik at October 14, 2009 3:01 PM
Last time I checked, that is STILL a studio. Since I have a large hallway, maybe I should start marketing my studio as a one bedroom.
Mortgage / maintenance costs on this would be about $2,175 per month and after the tax shield, about $1,650 per month. What would this place rent for? Maybe $1,500/mo or so. Once you throw in the utilities, monthly cost is probably about the same between rent vs buy. Now you might ask whether dealing with the complexities of ownership for a studio that one may not be living in for the next 20 years is worth it when monthly costs are roughly equivalent. But, it doesn’t necessarily seem overpriced and I imagine there are a handful of people out there for whom it would be worth it.
Hi all. Knowing a lot about this apartment let me shed some light. Maintenance does indeed include all utilities except the cable/phone bill. Also, the price is higher because it is not a studio despite the fact that its listed as one. Its technically a “two room studio” as you can see from the floor plan here:
http://media.realplusonline.com/nc/october09/70_Remsen_ST_7D.jpg
Its essentially shy of a one bedroom and if you’re a single person looking for a one bedroom, but want to save a hundred grand, this is an excellent way to do so. In the 70 remsen building a lot of square footage is lost in long dark hallways around the apartments, so when comparing this apartment to a one bedroom in this building, if you exclude long hallways, its only the difference of a minimal square footage. This apt is actually very large, roomy, and has a full separate kitchen in a large separate room. Each room, has windows that get lots of sun.
“We routinely see coops/condos listed with comparable maintenance and it never raises an eyebrow.”
Actually, infinitejester, what we routinely see is ‘stoner never fails to disparage the maintenance costs of Brooklyn Heights co-ops. Never mind that $1.25-1.50 is the norm for the area, its more than Crown Heights or Prospect Heights. Shouldn’t all Heights be the same, property taxes notwithstanding? Isn’t Clinton Hill comps the line in the sand when it comes to maintenance charges?
WTG, Jonathan – at least you are consistent.
FWIW – this one comes in @ $1.40 psf, and INCLUDES utilities.
But @#%$it, it’s a studio…wah wah wah I wanna a bigger place or I’m going back to my parents basement!
probably not cable/internet, but certainly gas and electric.
GOOD doormen are useful…but that’s an old school and there’s not many of’em left.
Seriously, one agent had a halo. ??
This is a medium (city-sizes) living room that you have to put your bed in. All that can be yours for $300,000 plus $400 a month shy of the FULL rent of a similar studio in a building down the street. Oh right, that place doesn’t have a door man to accept your packages 6 times a year.
When they say “maintenance includes all utilities” does that assume heat, hot water, gas, electricity, television, internet?