Co-op of the Day: 125 Eastern Parkway 3 Bedroom
Real family-size prewar apartments are hard to find to come by in Brownstone Brooklyn, so we were interested to come across this FSBO listing (yet another one using free blogging software) for a three bedroom at 125 Eastern Parkway. The 1,800-square-foot place combines two apartments, the D and E lines. Given that 5D sold for…

Real family-size prewar apartments are hard to find to come by in Brownstone Brooklyn, so we were interested to come across this FSBO listing (yet another one using free blogging software) for a three bedroom at 125 Eastern Parkway. The 1,800-square-foot place combines two apartments, the D and E lines. Given that 5D sold for $725,000 last June and 3E sold for $271,371 in 2004, the asking price of $900,000 (or $500 a foot) seems quite reasonable. We also like the layout: If it were our place, we’d blow open the whole center of the apartment, combining the current kitchen, dining room, living room and den into one gigantic space. But that’s just us. Looks like the apartment has been on the market since February 1. We bet it’ll be snapped up by someone at one of the two open houses this weekend.
125 Eastern Parkway FSBO [Blogspot] GMAP P*Shark
4:44 no one said the co-ops along clinton and washington were not nice. someone (brownstoner) was simply expressing his own opinion that he would look to eastern parkway first.
i think this last post highlights the problem with a lot of posters on here. you all take other people’s opinions to be the gospel. brownstoner can prefer eastern parkway and you 4:44 can prefer clinton hill. personally i’d choose eastern parkway.
it’s great that we all prefer different areas, if you think about it sensibly. and i’m sure mr. b gets out in the neighborhood plenty.
be that as it may 4:44, EP has much better subway access, which is a deciding factor for a lot of people
Brownstoner should get out more in his own neighborhood. There are wonderful pre-war coops in Clinton Hill along Clinton and Washington Ave. Dollar for dollar those Clinton Hill buildings will get you much better space and of course an already fabulous neighborhood with better schools…there I said it. The schools that EP are zoned for aren’t very good are they?
Re: flip taxes:
you only pay taxes on what you put in your pocket.
Does anyone know how the 25% flip tax at Turner Towers affects tax liability from the sale (assuming the sale is at or above the exemption of $250K/500K)? In other words, if a seller makes $300,000 on the sale of co-op, do they owe the IRS taxes on 50,000 above the exemption, or no taxes because after flip tax the profit is only $225K?
Just curious.
with the prices that are being asked for richard miers’ on prospect park (love it or hate it) this area right around grand army plaza….down eastern parkway, up into nearby streets of prospect heights and the surrounding north slope area is going to do nothing but be a good place to buy. simple additions like the addition of year-round lighting at the arch at grand army is a signal that this is a very upscale area that is becoming only more and more upscale. i think in 10 years, you will find that an eastern parkway address will be quite similar to that of a central park west address….
actually ours was quite a bit smaller (1500 sq?), tho spacious living areas. 2 bath (not 3) and our 3rd BR was quite small, with no den. We did get good light in LR and master BR.
We sold our coop on Plaza street last summer for around $800, very nice apartment but a bit smaller, on 3rd floor, with an outdated kitchen. I think $900 for this size is very reasonable!
The EVIL flip tax is next door – 135 EP, Turner towers – where they take 25% of the PROFIT!!