Co-op of the Day: 135 Ocean Parkway, #10F
This co-op at the Caton Towers at 135 Ocean Parkway in Kensington isn’t particularly sexy, but it is a nice basic one-bedroom on a high floor with a newly renovated kitchen all for $280,000. At 800 square feet, the apartment’s asking price as well as its monthly maintenance of $635 seem pretty reasonable. Any general…
This co-op at the Caton Towers at 135 Ocean Parkway in Kensington isn’t particularly sexy, but it is a nice basic one-bedroom on a high floor with a newly renovated kitchen all for $280,000. At 800 square feet, the apartment’s asking price as well as its monthly maintenance of $635 seem pretty reasonable. Any general thoughts on this building?
135 Ocean Parkway, #10F [Abacus Properties] GMAP P*Shark
I’m cool with Ocean Parkway so long as you can still walk to PP.
I don’t think you’ll find a nicer place any closer in. Yes, this is a charmless apartment, but if you think the economy is about to start inching upward (no real reason, in my opinion, to believe that) and you could get this for 250k, you’re well situated in five years to make a little money.
> This is not a $1,600/mo 1 BR location.
Apparently it was for somebody.
Probably rented for less than $1,600 on 7/30, snark. Even if not, the rent needed to fall since 3/31 before it moved and it did. You think rents have stopped falling? This is not a $1,600/mo 1 BR location. That puts you in Fort Greene, especially with the avalanche of rental properties coming online.
Price is whacko and so is buyer if existent at that price. Or maybe just monthly-nut-happy and oblivious to high, real risk of net loss (down payment minus depreciation and net expenses) at resale. AKA FHA-happy. Leverage now, worry later.
***Bid half off peak comps***
BHO,
If you think you can rent a 1BR in this building for $1166.50, I think you are mistaken. It would probably be closer $1600-$1700.
Like this one that doesn’t look as nice:
– http://bk.ly/bci
03/31/2009
Listed by McNeil Real Estate at $1,800.
05/15/2009
Price decreased by 11% to $1,600.
07/30/2009
Listing rented.
1 bedroom rentals aint gettin’ $2,333/mo in these parts. They’re gettin’ half, if that. Hence the post-FHA appraisal.
***Bid half off peak comps***
I’ve got concrete walls in my post-war building as well, and I hear very little from my neighbors. Nothing at from the ones on either side, actually.
Maybe my neighbors are just quiet. I’ll thank my lucky stars for that.
As an aside, based on the floorplan, there is no way this apartment is anywhere close to 800sf. It is considerably smaller than the two places I saw, so I would revise the price downward.
DS,
You might be right about the concrete blocking more noise than a pre-war, but it’s still not great. I should’ve clarified – I mostly meant sounds traveling from neighbor to neighbor on the same floor. Couple of people I know (including my parents) live in these and you better be comfortable listening to someone else’s (admittedly loud) conversation or TV. God help if someone has a piano – piano sound travels at least two floors in these.
Those are definitely 8′ ceilings. I’ve looked a couple of places in that building. Great views from the high floors.
The price is a bit on the high side based on recent comps for the building, though the kitchen and overall condition are much better than the ones I saw.
I have no problem with 8′ ceilings. Actually, I think high ceilings in small rooms are more oppressive than large rooms with lower ceilings.
Also, I don;t know what heck_of_a_job_brownie means about “non-existing sound insulation.” I find that the concrete floors of this type of building block a lot more noise than the floors of a typical pre-war building.
This is your standard post-war with the bare-minimum 8ft ceilings. That aside (and the usual non-existing sound insulation, which is always the case in these) the apartment doesn’t look half-bad.
It’s all about context. But, to me, 8ft ceilings are almost never ok. 9 isn’t so bad – many (most?) people can only wish they had 9.