Co-op of the Day: 728 41st Street, 3A
This prewar co-op at 728 41st Street in Sunset Park recently hit the market with a price tag of $299,00. It’s either a one-bedroom with a dining room or a two-bedroom, depending on how you slice it. Overall it’s got a very nice vibe to it, though we’re not loving the cabinetry in the kitchen….
This prewar co-op at 728 41st Street in Sunset Park recently hit the market with a price tag of $299,00. It’s either a one-bedroom with a dining room or a two-bedroom, depending on how you slice it. Overall it’s got a very nice vibe to it, though we’re not loving the cabinetry in the kitchen. Still, with a low monthly maintenance of just $328, it strikes us as quite a reasonable starter apartment.
728 41st Street, 3A [FSBO] GMAP P*Shark
Thanks m4l!
Boerum — I asked a legitimate question about taxes… and your reply is just being a dick.
I hear all the time that the tax deduction is huge and can make carrying costs that much lower, but I really want to know if it’s true. So, don’t be a dick.
Snark, can only suggest the bigger spots – ie pacificana (2nd flr; on 8th ave; on 58th st?)
BoerumHill — I agree, you just have to ask. BUT, there is a big difference between monthly maintenance of $328 and the REAL cost of, say, $628. Which is very close to $1 psf. And the monthly basic cost is $2,000; not $1,700. That actually IS a “BFD” for a lot of people.
(I’m just throwing that number out there because $300 per month for heat and hot water seemed like an OK number)
Also, since it’s tax time… I really want to ask about this “tax credit” everyone gets all hopped up about. Say you buy this place — how much of an effect does your mortgage interest payments REALLY have on your tax liability?
You forgo the “standard deduction” for an “itemized deduction.” Let’s assume you have an income of, say, $80,000 and you bought this place. Why do I have a sneaking suspicion that your tax savings are not very much at all… as compared to the standard deduction you took as a renter.
Posted by: tybur6 at February 2, 2010 1:43 PM
On a scale of 1 to 10, 1 being ‘no way that’ll ever happen’, 10 being ‘you betcha within the next year’, what would say is the likelihood you will ever purchase an apartment?
Kens – Yeah, the location was a challenge, and the name and signage were unfortunate.
However, I think the place could have succeeded had they really marketed themselves. Hand out fliers at the subway. See people waiting in line to get into the farm, give them a flier. Post to all of the apprpriate blogs. Etc.
I heard somewhere that there was a disagreement between the owner and the manager. Sounded like the owner, pardon the pun, lacked vision.
OK, BACK TO SUNSET PARK:
Can anybody recommend a good place for Dim Sum in Sunset Park?
However, everyone seemed to miss the phrase “PLUS two oil assessments per year” That’s a lot of money, no? Not just the $4,000 a year in maintenance.
Anyway. It’s not a bad place. $1700 a month actually seems OK. But the unknown is the oil bill. That could be huge.
Posted by: tybur6 at February 2, 2010 1:38 PM
Maybe you could clarify what is a lot of money or a huge bill? It’s one utility for a 725 sq ft pad – do you really think its a deal breaker? How bad could it be?
Anyway, its not like its the boogie man. You ask one question and they’ll let you look at last year’s assessment. BFD.
Owner again. Responding to the Kensingtonian comment. True about mortgages historically. We’ve had mortgages for about four years. We do have a proprietary lease too–enacted last week! We also do have bylaws that were enacted in 1929. My little 1929 book of bylaws is half English, half Finnish. True too about shares–there aren’t any. Maintenance is based on number of rooms, otherwise it’s one apartment, one vote!
Hello.
The owner here. Nice to see so many comments about a Sunset Park thread–and mostly reasonable! The oil assessments are once in October and once in February, each $656 (two months maintenance). Yes, they do add up but the coop decided to do it that way instead of raising maintenance. That way if oil comes down (I know, I know, little chance) we can drop them. The capital improvement assessment thing is true too–it’s been done that way since 1929. Between 24 apartments it never adds up to much. All that said it’s a wonderful place.
To you who don’t like the neighborhood, don’t move here. Simple. Reminds me of Park Slope Food Coop members who constantly bitch about the place. I always say “Why are you a member? Maybe the coop isn’t for you.” Simple.