Co-op of the Day: 224 Henry Street, #2AB
This new listing at 224 Henry Street in Brooklyn Heights looks very nice. The two-bedroom co-op takes up the entire floor of a 25-foot-wide brick townhouse. There are lots of original details and the recently-renovated kitchen is also attractively done. The monthly maintenance of $1,170 seems a tad high given the lack of a doorman…
This new listing at 224 Henry Street in Brooklyn Heights looks very nice. The two-bedroom co-op takes up the entire floor of a 25-foot-wide brick townhouse. There are lots of original details and the recently-renovated kitchen is also attractively done. The monthly maintenance of $1,170 seems a tad high given the lack of a doorman or amenities, but not painfully so. The asking price of $995,000. What do you make of that? There was an open house on Sunday—did anyone attend?
224 Henry Street, #2AB [Brown Harris Stevens] GMAP P*Shark
If someone is willing to pay cash I am sure the neighbors will put the welcome wagon outside. Otherwise don’t try to go to the banks for 100% financing because they will beat you with a stick and then throw you out. DIBS this is a bargain for you. You can finally move out of BedSty!
DeLepp, boerumhill confused you with Yllebdael, whom Dave told to have fun in Nevada.
Thanks, thwack, but I’m in an overpriced Heights rental now, with stainless steel appliances and granite counters, and I’m more than ready to buy again.
CGer: Try looking for rentals. Basically, if you think that granite and fancier appliances are worth an extra $100/day, go for it. You could live in a hotel room for less.
http://newyork.craigslist.org/brk/fee/1591774757.html
(2500)
http://newyork.craigslist.org/brk/abo/1592868927.html
(3400)
http://newyork.craigslist.org/brk/abo/1590215245.html
($2200)
boreumhill,
Not sure what I said to be bannished to god forsaken nevada. For an apt made for two adults and a child or dog, I would rather have more bedroom space than a half bath.
I saw this apartment last time it was on the market. Very pretty, but I was a little surprised it sold for nearly a million then. Can they do it again? I don’t know. It has everything you’d want, but it’s all a little squeezed in. There is such a wide gap btw the smaller 2-bedrooms in the neighborhood — in the 600s — and the ones like this — 900s. I wonder
thwack, I’ve been looking for a year and haven’t seen all that many similar apartments in the neighborhoods I mentioned. Also, I love the kitchen cabinets and the granite, and white appliances don’t bother me at all, especially now that everything is stainless.
I can verify that the basket weave pattern is quite cool, and still in very good condition. Veterans of many condo visits will note that this still has white appliances and a white kitchen, and that the granite is black/dark green and not custom edged. Likewise, the floor-to-ceiling cabinets maximize use of the space.
In my mind, the issue is how much to pay for something like this — 6600/month for a medium size walkup apartment in a pretty but non-descript building requires a buyer who values snazz over space. But at that price (and maintenance), you could get a condo in a doorman building with even newer, snazzier features and on a less-busy street.
Or put another way: the renovation was very expensive because the guts of a 19th century brownstone had to be replaced. But the same quality can and has been built much less expensively in new construction condos. So the question is how much to pay the current owners in a market where there’s plenty of similar supply.
Maybe someone is dumb enough or rich enough to buy it at ask, but long-term, I don’t think it will appreciate at the rate that cheaper PPSF apartments will.
CGar – would love to. Shoot me an email and let me know.
donald@myhomebrooklyn.com
Donald, I love your work. And I still want to get together with you and talk.