Co-op of the Day: 61 Pierrepont Street, #53
The new listing for 61 Pierrepont Street doesn’t actually say that the three-bedroom co-op is an estate sale but it sure looks that way. The 1,050-square-foot pad has all the prewar bones you’d hope and expect (moldings, original bathroom) but will definitely require a pretty major tune-up before a new owner moves in. The building’s…
The new listing for 61 Pierrepont Street doesn’t actually say that the three-bedroom co-op is an estate sale but it sure looks that way. The 1,050-square-foot pad has all the prewar bones you’d hope and expect (moldings, original bathroom) but will definitely require a pretty major tune-up before a new owner moves in. The building’s great, as is the location. At $1,647 a month, the maintenance strikes us as a bit rich. Considering all that, what do you make of the $815,000 asking price?
61 Pierrepont Street, #53 [Corcoran] GMAP P*Shark
Awesome. This is what I call “move-in condition.” Others call it “gut renovation.” All you got to do here is paint and refinish the floors. It’ll look just like Martha Stewart lives there when you’re done.
is this the same exact unit that I remotely recall back 2 yrs ago that was soliciting comments on this blog and the unit & agent got shredded?
It’s old and depressing (not unlike much of Brooklyn Heights). That bathroom is straight out of “Jacob’s Ladder.” You can actually get more space for less money (specifically 1,082 sq. ft for $785,000) at One Brooklyn Bridge Park. This decrepit haunted-looking place vs. new build condo with a sure appreciation, low common charges and cheap taxes.
Minard, I had the exact same thought about adding a second bathroom. I can’t open the listing / floorplan at the moment, but I assume you’re talking about putting a second bathroom in the walk-in closet adjacent to the existing bathroom?
I wasn’t singling out this broker. I should have added “any broker”
This is only worth it if the corporation allows a second bath to be put in where the walk-in closet is. Then knock out a few partitions to open the space up a bit and this could be a great apartment. The building and block are very elegant and big 3-bedrroms in the Heights usually start at a million.
Maintenance is the biggest downside of coop ownership, imho. Not just how expensive the monthly fee is but also that sinking feeling that the management company is squandering the money they collect.
The apartment is much smaller and cramped in person, and the pre-war detail throughout the building was not of the highest quality when it was originally built.
The building has worn-down common spaces and filthy hallways. The maintenance clearly doesn’t go towards cleaning the place.
I wanted to go see it yesterday, but the OH was on a Saturday! WTF?! Love the location. And the layout. Agree with DIBS on the lack of closets. If I’m mistaken, the other drawback is only 1 bathroom. For the location, I don’t think the asking price is bad, even with the renovation required. My big hesitation — as with almost every apartment I look at in Brooklyn Heights — is whether I really want to be saddled with that monthly maintenance, forever, especially since it will only go up. But there is that location, and Pierrepont is one of my favorite streets in the Heights. I think I will go for between $725k and $750k. (I also know and like the broker.)