Co-op of the Day: 1 Grace Court, #2B
Someone must think the market has rebounded! This riverfront co-op at 1 Grace Court in Brooklyn Heights was on the market with Douglas Elliman last year. It was taken off the market in July, after having had its price reduced from $1,675,000 to $1,500,000. Now it’s back on again with Corcoran asking $1,795,000. The 2,200-square-foot…
Someone must think the market has rebounded! This riverfront co-op at 1 Grace Court in Brooklyn Heights was on the market with Douglas Elliman last year. It was taken off the market in July, after having had its price reduced from $1,675,000 to $1,500,000. Now it’s back on again with Corcoran asking $1,795,000. The 2,200-square-foot three-bedroom pad clearly has killer views and we like those wood built-ins in the living room, but the monthly maintenance of $2,483 is not for the faint-of-wallet. Then again, it’s a prime Heights location.
21 Grace Court, #2B [Corcoran] GMAP P*Shark
if you enjoy the promenade you’d love this apt. If you think that promenade is filled with exhaust and the view from there is the BQE then probably not your cup of tea.
There is something about expensive co-ops or condos in Brooklyn Heights that drive a lot of folks on this blog crazy.
Plusses: views (no question!), lots of windows, location (Heights), large space
Minuses: lots of windows that you can’t open (without exhaust from BQE), location (BQE), raised platform in living room, poor use of large space (who ever thought of having a bedroom entrance via the powder room?), monthly CC.
minuses win.
sashae – I have never been in the apartment so I cant really judge – but “on paper” 2200sq ft in Brooklyn Heights with an amazing view – [clearly it isnt looking directly onto the BQE – look at the pictures] is far from the craziest rent I have ever heard about.
the ASK + BIG maintenance + Big renov
to have NO doorman is just a huge disjointed situations. if to cough up that much and not have doorman, go buy yourself a house in the hood man.
1mil mortgage @ 6.5% (co-op mortgage), 2500 in carry charges a month… to look DIRECTLY OUT ON THE BQE. Are people INSANE? Would you pay $8500/mo to RENT that place, much less have it tied around your neck like a millstone?
I looked at a place in that building a couple of years ago (duplex 2BR) and you couldn’t pay me to live there with the traffic that close. Lunacy.
like 30h at the j in dumbo. i’ll suffer the neighborhood, thank you very much. sold for $2mio, 1K maintenance.
http://bk.ly/brf
oh, i believe the j has a doorman too.
Its a 3br apartment so 2 kids and private school maybe – PS 8 is pretty good now I hear and there are other alternate public schools.
Obviously with a 2.5K maintenance and fixup and possibly private school this is a “rich” persons apartment – but that is the point…..
If it was 25M apartment and the maintenance (or taxes) were somewhat higher than the norm (like this place), your comment [paraphrase] ‘whats the difference to the guy/gal who can afford this place anyway’ might be spot-on….but to the “average” family in the market for a 1.5M apartment – the maintenance will likely be significant, and therefore will likely reduce the pool of eligible buyers. Therefore – you really have to compare this with a $2M+ apartment that has “normal” maintenance.
well, rich is a relative term, I was addressing my remarks to the posters who could not undeerstand how anyone could pay $2,500 a month in maintenance charges. If the apartment is sold for 1.5 million, which is a good guess, it will need a good deal of fixing up. Of course the sky’s the limit but $300,000 to 500,000 should do it. That plus annual tuiton for three kids at private school (it is a large apartment so I am assuming three kids) and you are talking about a rich person’s income, at least in my books.
To you and the other Trumps it may be a mere bagatelle.