Co-op of the Day: 130 8th Avenue, #7C
Here’s a pretty standard but perfectly nice two-bedroom co-op at 130 8th Avenue that just hit the market. It has a nice layout and appears to be in good shape; the views also look sweet. The maintenance is a little high at $1,399 and the asking price of $865,000 seems mildly optimistic but not crazy…
Here’s a pretty standard but perfectly nice two-bedroom co-op at 130 8th Avenue that just hit the market. It has a nice layout and appears to be in good shape; the views also look sweet. The maintenance is a little high at $1,399 and the asking price of $865,000 seems mildly optimistic but not crazy talk. What do you make of it?
130 8th Avenue, #7C [Brown Harris Stevens] GMAP P*Shark
And the actual selling price was . . . $825,000.
eh…i hear a bunch of “Old” farts live in that building so that reduces my price evaluation to $725k
I would take Brooklyn over Manhattan any day or night of the week.
This apartment is very nice, I can actually see a reasonable space to put a table with 4 chairs instead of a bar with 2 stools.
Mario, Mario, ha ha ha! I’m just saying that so far according to published statistics, Park Slope is on average down less than (for example) the subprime area where I live, where average prices are down 40 percent since peak June 2006. I ain’t predicting the future. Park Slope is a very desirable area for many people.
Mopar, mopar, mopar. And Park Slope is immune from what’s going on in the rest of the city because of what exactly? Think hard. You won’t be able to claim that it has limited space because it’s an island like realtors always shill about Manhattan, but I’m sure you’ll come up with something good. Meanwhile, please take into account that “It won’t happen here” is what realtors everywhere claim when the neighboring borough is crashing and burning. Theirs isn’t because it’s hipper, more stately, has better schools, or it’s closer to Manhattan. But since areas of Manhattan that have all those characteristics are already 25% down, then you can try the opposite: it’s farther from Manhattan, less hip, the best kept secret, doesn’t look good from the outside, etc. Try, please.
Mario, Mario, Mario. Sadly, time will prove you wrong (when this goes into contract at 5 percent below ask.) There was a quarter, I forget which one, but maybe Q1 2009 when Park Slope prices actually increased 6.5 percent or something like that. Various sources disagree, but in general it’s only down about 12 percent or so since peak.
I find it pretty surprising that most people here seem to be commenting based on their gut feelings and professed love for Brooklyn (per opposition to that soulless land of wealth disparity and block envy, Manhattan) rather than thinking this in terms of a market. The real estate market was at its absolute peak in 2007/08 and has come down at least 20% from there, and a lot more in certain cases (unless you think that Park Slope is immune) so if there were 2/2 in that building asking 749 and 789 in those years, even if those apartments were in low floors, this apartment cannot be worth more than those. I mean, you’ve gotta be kiding. Factor in 10% for condition and 10% for high floor, you would merely break even. And that’s generous.
You don’t see it from the picture but this is a very desirable location. It is one block from the park and close to 2 train lines. 7’th Ave in PS is one block the other way. If you want PS and to be close to everything, this coop delivers.
Maly: I would think that most Park Slope enthusiasts would prefer prewar. But inventory in PS321 is quite low — only eight 2BR/2BAs show up in the PS321 catchment for under a millon on StreetEasy, for example, and four of those are in contract! — so this might be the best bang someone will get for their buck, especially if that someone doesn’t want to deal with renovations and prefers a full-service building.