Co-op of the Day: 111 Hicks Street, #13MNO
The $900,000 price tag on this three-bedroom pad at 111 Hicks Street in Brooklyn Heights looked quite low to us, but then we spotted the monthly maintenance of $2,837, which is definitely on the high side for a 1,700-square-foot apartment. We suspect this is a result of three smaller apartments having been combined to create…
The $900,000 price tag on this three-bedroom pad at 111 Hicks Street in Brooklyn Heights looked quite low to us, but then we spotted the monthly maintenance of $2,837, which is definitely on the high side for a 1,700-square-foot apartment. We suspect this is a result of three smaller apartments having been combined to create this place. Even with that maintenance, we suspect there will be strong interest in this place. A truly family-sized apartment in The Heights for under a million bucks is a rare thing.
111 Hicks Street, #13MNO [Prudential Douglas] GMAP P*Shark
the high maintenance is not really representative of BH and is more due to this specific coop. I live very close by and our maintenance is nothing like this building.
actually, I think Lafever hit the nail on the head. It keeps the riff-raff out.
I do not see the likes of 11217 or Brownstones half off moving in too soon.
Snark, not sure why you’re saying the layout is “godawful.” Not that I can’t see some problems, but can you explain?
“As I recall, they do have a more lenient sublet policy than other coops I looked at.”
Yup, cause they know no one with a brain is going to rent this thing for $7,500 a month, which is what it will cost to own it.
I investigated this building closely for another apartment (one with a panoramic 23rd floor view) that I was dying for. I concluded that the maintenance was a result of: the big fire about 10 years ago (repairs and insurance), empty retail space and poor deals with other tenants, the extra cost of maintaining the facade of such a tall building, non-metered heat and a/c, and other things I can’t remember. The apartments vary radically in charm – those with views have it, those without, don’t. The maintenance does take this difference into account. I don’t recall that the health club is included. It is convenient. As I recall, they do have a more lenient sublet policy than other coops I looked at.
can you imagine combining 3 apartments and still ending up with THAT kitchen?
“Bedrooms: 3*…”
“…* The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom.”
Priceless.
***Bid half off peak comps***
Yell? I yell? perhaps you mean typed loudly?
In all seriousness this building was a problem. The conversion was not done well and it left the corporation saddled with a lot of debt. -but that was a long time ago. The corporation has survived and is doing well now. The building is fully occupied. It is expensive in terms of maintenance but then the sale prices are low to compensate. I know that the views are phenomenal, the roof deck is incredible and the health club downstairs (membership is included I think) is excellent.
You don’t see apartments in this building going unsold for three years like some of the houses we see, such as today’s HOTD.
In past threads about this building, I have outlined all the many things that are wrong with it. Minard yelled at me and told me I didn’t know what I was talking about. Hmmm… maybe, but just whisper “111 Hicks” to your real estate lawyer and see what happens.