Co-op of the Day: 128 Sixth Avenue
The appropriation of free blogging software by FSBO-ers is really catching on! Last week it was a Fort Greene two bedroom; this week it’s a charming one-bedroom in Park Slope brownstone. Located on the corner of Sterling Place and Sixth Avenue, the ground-floor apartment also comes with a space in the two-car garage in the…
The appropriation of free blogging software by FSBO-ers is really catching on! Last week it was a Fort Greene two bedroom; this week it’s a charming one-bedroom in Park Slope brownstone. Located on the corner of Sterling Place and Sixth Avenue, the ground-floor apartment also comes with a space in the two-car garage in the rear of the building. The asking price of $549,000 seems reasonable for a full floor in this part of town; the maintenance of $656 is a couple bucks more than we would have expected but not a deal breaker. If you stop by either open house this weekend, drop us a note. We bet there will be good foot traffic. Anyone got any good comps for this place?
Brownstone 1 BR FSBO [Sixth and Sterling] GMAP
Photo by Kate Leonova for Property Shark
Even if you up the monthly rental of the spot, I would still say the garage is worth more like $50k – $60k rather than $100k. You would also probably want to do a semi-allowance for the shared roof deck. But then also dock something off for the No Smoking rule. So not sure where you end up. But it seems a touch high. Not terrible, but high by a touch.
By the way- Private garage rentals in the North Slope are nowhere near 150-200/month. The garage across 6th on sterling charges 400 or more. Other places charge at least 300-350 (and they’re not takin new customers). Given- 300 per month is still cheaper then the montly mortgage’s share of the 100K for the garage, but you can probably also jampack the place with shelves, boxes, bicycles, xmas ornaments, in addition to the car, so it’s really like owning a 200/month storage bin + a 300/month garage rental.
So if we take it as given that the garage is worth 100000, then at 660 square feet, the ask is $700 per square foot. Does that seem right for Sterling and 6th? What do people think?
I don’t think a garage is worth $100,000, but I do think it’s worth a lot more than it would cost you to park your car commercially. Hiking to a commercial garage, waiting for the clerks to retrieve your car, doing the same in reverse when you come back, etc., is a hassle. And what do you do in case of emergency (another terrorist attack, a blackout, or the like) when you can’t get to your car because it’s on an upper floor in the parking garage and there’s no way to get to it? In short, a private garage in NYC is a real premium. (Having said that, of course, I’d rather have a garden; I don’t even own a car.)
5:46 why does it matter if they use a broker or not? Are you saying they are not allowed to max out their profit? And don’t you think they are spending some of their money to sell this. That is a stupid attitude. My wife sold her apartment without a broker and she got 35000 more for her apartment because she did not listen to the brokers advice on the listing price. Ha. When I sell my brownstone please dont call me brokers because I would rather suffer through the selling process then let you walk away with MY 6%. I earned it and you didnt..
What’s really interesting to me here is the non-smoking co-op idea. Indeed, what if you wanted to sell to someone who turns out to smoke? What if you make the brilliant decision to take up smoking next week? Also, does the no-smoking policy cover pot, too? And what does the co-op board do if someone violates?
$100,000 for the garage? That’s pretty insane. You can rent a spot for $150 – $200 a month in Brooklyn. So $1,800-$2,400 a year in saved space rental… 40-60 times multiple? Hah.
The garage alone is worth 100,000.
There is a separate dining room in addition to a large windowed kitchen.
Great location across from a beautiful church on picturesque 6th avenue.
This looks overpriced to me, and they are not paying any brokers’ fees. A similar coop apartment on 6th avenue in Park Slope was asking for $480,000 recently, with a low maintenance fees of $410, and they were using a broker, and there was a patio.