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
That visions location and signage was doomed I guess.
They prolly would have been better of somewhere along Cortelyou.
> the ones I know have a fairly decent reserves
Good to hear. I know somebody who lives in one, and she always ha to come up with money for assessments. Then again, her maintenance is crazy low, and she paid next to nothing for her place.
> I am pretty sure Visions closed
Sadly yes, they appear to be gone. There’s an “Available for Rental” sign in the window.
> looks like we’re getting a new Sushi place
I’m definitely looking forward to trying it out.
Snarky, the ones I know have a fairly decent reserves to account for boiler repairs and other building expenses but you’re right, things do happen. I know that all too well.
BTW, I am pretty sure Visions closed :o( BUT looks like we’re getting a new Sushi place (much needed for the neighborhood) right next door to San Remo!
gem, most of these coops in Sunset park was built by the Finnish. The 41st Street is also dubbed Finlandia Street. They were original coops when they were built and not actually the converted 80s coops hence most of them don’t have coop bylaws, share distributions, etc. That’s why most can’t get mortgages and need to be purchased for all cash. It’s an easy fix to get all of the paperwork done but the coop would need to spend some time on paperwork and some lawyer fees. My friend’s coop did that a couple of years ago. Some are still only cash purchases but they are coming around to becoming “real” coops with all the proper documents and shareholder certificates.
“even at this price, I don’t think Sunset Park holds appeal for anyone really” (binnyG)
Huh?
“Kitchen is absolutely horific” (STARGAZER)
Huh? again. Absolutely horrific???
Something else to keep in mind: It is my understanding that the way these types of coops run, the maintenance is nice and low UNTIL something needs repairs.
Need a new boiler? Hello assessment.
Roof is leaking? Hello assessment.
Just make sure you have some “spare” cash on hand to handle these “surprises.”
725 square feet is very little space for a 2BR. 300K buys you a 2BR around Ocean Parkway with 1000 Sq. Ft. at least.
Kens?
The Fins built these?
how weird? when did THEY emigrate here?
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.