Co-op of the Day: 40 Prospect Park West, #5G
This convertible two-bedroom at 40 Prospect Park West isn’t long on either old-world charm or sexy modernness, but the 900-square-foot apartment appears to be well-kept and the location, at the corner of Garfield overlooking the park, is obviously fantastic. And unlike a lot of small second bedrooms, this ones got nice windows and exposure. Given…
This convertible two-bedroom at 40 Prospect Park West isn’t long on either old-world charm or sexy modernness, but the 900-square-foot apartment appears to be well-kept and the location, at the corner of Garfield overlooking the park, is obviously fantastic. And unlike a lot of small second bedrooms, this ones got nice windows and exposure. Given the size of the apartment, the monthly maintenance of $672 is quite a good deal. That should be a helpful factor in trying to achieve the asking price of $589,000.
40 Prospect Park West [Corcoran] GMAP P*Shark
Also, do you not see how sad it kinda is to be a couple making $150,000 to $200,000… BUT if you want to have a friend or relative visit, they are either sleeping on a couch or sharing with Junior?
That’s sad to me.
I guess I’m just dense, tybur6.
I’m not coming from the perspective of putting up 80 posts a day on Brownstoner. I’m looking at this place and comparing it to the scores 2 bedroom units at this price and just above it I have seen in the last six months. Based on the current market – not what it ‘should be’ or what someone thinks it worth – this is what you find in that range.
Actually, all things considered, its a good deal at this price. Under $700K that 2nd bedroom is always a smallish office/nursery type deal. PS prices are mid-to-upper $700s psf. It may not meet your expectations, but its in line with the reality of the current market.
BH — Read what you just wrote. Then re-read what I wrote. You will find your answer.
But if you need help, I will point out the part that responds to you directly: the ONLY thing going for it is the location. It is FAR from “gracious living.”
$654 psf is considered pricey for prime PS?
BoerumHill — I think I am.
Keep in mind, that’s $150,000 a year plus the same amount sitting around in a bank account for the actual purchase.
Not to mention, $150,000 is hardly enough if they have children. Or it’s $150,000 with one income — which is VERY healthy if you ask me. Or, they are making more to pay someone to raise their children.
*******
But this is all beside the point. My point is that this place is VERY pricey and the ONLY thing going for it is the location. It is FAR from “gracious living.”
By far, the worst decorating / photography of an apartment that I have seen in a long time. I call it “Ikea, 1977”.
What would you call it?
By tybur6 on May 25, 2010 1:43 PM
By the way… “Come see what gracious living looks like.”
Umm, so it looks like a standard rental unit. Or sorry, what a standard rental unit *should* look like if they the majority weren’t shit holes in this town. Downpayment of $118,000 (One Hundred and Eighteen Thousand!) followed by $3,500 a month to gain access to this “gracious living.”
Rich people are stupid. The location is nice.
Throw in another, what, $400 a month if you have a car.
…
Perhaps you would be kind enough to unpack this one for me. I must be missing your point.
2 bedroom, PS 321, across from Prospect Park. Hmmm…any guesses on the demographic for this listing? I’m thinking dual-income couple with a child, but maybe I’m off base.
$3,500 per month is $42K annual; that’s precisely 28% of $150K. Are you saying folks who make $75K (x 2) are rich?
$3,500
average apartment totally overpriced, just because of where it is located.
The Brownstoner description also makes it seem like there may be a park view, but the listing says otherwise.