Co-op of the Day: 1 Plaza Street West, #1D
This two-bedroom co-op at 1 Plaza Street West has been on and off the market for most of this year. We suspect that its failure to sell has something to do with the fairly high maintenance of $1,180 since the asking price of $649,000 is pretty low for a prewar apartment of this size, even…
This two-bedroom co-op at 1 Plaza Street West has been on and off the market for most of this year. We suspect that its failure to sell has something to do with the fairly high maintenance of $1,180 since the asking price of $649,000 is pretty low for a prewar apartment of this size, even one that’s on the ground floor. It’s a sponsor unit, but appears to not have been butchered the way many sponsor-renovated apartments often are.
1 Plaza Street West [Prudential Real Estate] GMAP P*Shark
It’s not that unreasonable, but one can get more for one’s money than that. We bought our place three blocks away from there, with a very similar floor plan (slightly larger than this), new construction, outdoor space, laundry in unit (no doorman though), for about $200K less than this listing price and our HOA is about 1/2 that maintenance.
“A good friend of mine just moved last month to a beautiful garden rental just 3 blocks from this building (small second bedroom, glorious garden, nicely renovated) and she’s paying less than 3K.”
And my neighbor (also a few blocks from here) just rented a 2 bedroom duplex in the past month for over 5K.
Considering that I know quite a few people who pay 2K for 1 bedrooms in this area, I have a difficult time believing they’d get only 2K for a 2 bedroom.
I know it’s not the greatest, but maybe we should split the difference and say 2500. 🙂
Renting it may in fact be the best way to go.
11217, You are most usually right about the prices in your neighborhood, but I seriously doubt anyone sober would pay $3,000 for this. A good friend of mine just moved last month to a beautiful garden rental just 3 blocks from this building (small second bedroom, glorious garden, nicely renovated) and she’s paying less than 3K.
Maly, I’ve never seen a 2 bedroom in a full service building in the North Slope rent for 2k a month. Even despite the drawbacks of this place.
It would certainly rent for 3K.
It is not the maintenance. That’s reasonable for 2 BR in a full service building. I suspect it’s the ground floor location with no views or privacy.
This is horribly overpriced. The layout may not be too butchered, but that kitchen has to go, it’s on the first floor of a busy intersection, no outdoor space, the maintenance is high. What would this apartment rent for? $2,000 at most?
I don’t think it’s the maintenance so much as it is the fact that it’s on the ground floor on the corner of Flatbush Avenue and directly in front of the GAP subway station.
Not ideal, to say the least.
Hope it comes with several pairs of earplugs.