Co-op of the Day: 59 Pineapple Street, #6G
We’re surprised there wasn’t some better staging work done at this new listing at 59 Pineapple Street in Brooklyn Heights. The small one-bedroom sure could have used it. For $340,000 in Brooklyn Heights, no one’s going to expect hugeness, but this place could have put a much better foot forward. (A floorplan would have been…
We’re surprised there wasn’t some better staging work done at this new listing at 59 Pineapple Street in Brooklyn Heights. The small one-bedroom sure could have used it. For $340,000 in Brooklyn Heights, no one’s going to expect hugeness, but this place could have put a much better foot forward. (A floorplan would have been helpful too.) The co-op traded hands back in 2006 for $300,000, so the current asking price can’t be too far off the mark but better not to take any chances!
59 Pineapple Street [Corcoran] GMAP P*Shark
ah spoken like the typical never a rainy day buyer. 100k is not that much left after taxes, 401k contributions, saving for rainy day fd – certainly no enough for these premo hoods’ current day prices. dont be in denial. 100k only get you RENTing comfortably – NOT buying.
As I recall, the median household income in Manhattan is about %52,000 and for Brooklyn about $46,000. That’s right, HOUSEHOLD income, meaning everyone’s income in the household combined.
Those figures put New Yorkers at just about the national median.
Look around. Most people are just working Joes trying to make ends meet. And for them, $340,000 for a tiny one bedroom is way out of line.
It used to be that people were discouraged from taking mortgages larger than 2.5 X income. If this co-op asks the standard 25% down that leaves approximately $255,000 to be financed, so an income of $100,000 would be in order — more than TWICE Brooklyn’s median.
Which is why Brooklyn Heights is Brooklyn Heights.
That’s an even funnier statement. You should start speaking to a financial advisor.
in the context of house buying in these premo hoods, 100k income is peanuts cause one can buy jack sh*t with it.
Hmm…I wonder if Michael Bloomberg or Richard Branson or Ted Turner or Oprah Winfrey would call 100K peanuts. Probably not. What a riduculous statement and a poor man’s mentality. New York is not the center of the universe. It just happens to be expensive.
BTW, this apartment needs to be steam cleaned before moving in.
Nice moldings!
I agree with Rob, quality of life is much better outside of NYC even on a lower salary.
But NYC apartments are in demand, and that’s what keeps prices high. Supply and demand. Anyone lived in Hong Kong, Tokyo, or any other crowded city? Isn’t it the same story? Even higher prices for less space?
But NYGuy7 — Can we still mock the person that currently live here and the future owner? I mean, they’re living in a walk-in closet with a toaster over and toilet for over $2,000 a month!
First off, 100 grand salary IS a big salary. The majority of people in this country make less than that a year. But, this being NYC where cost of living is expensive, 100 grand doesn’t go nearly as far as if you lived outside of any major city.
And you can also get 1000 sqft more in NYC too for that price, just not in BH. Go further out and your dollar is worth more. It’s a trade off, location vs. space.
It won’t sell for the 340K price but it will sell for over 300.
Rob, yeah 100k is peanuts and if you find that to be a big number, you making peanut peel $$$. this is all in context to who is eying these premo hoods. we aint talking about avg joe hoods. folks looking in the premo hoods do make a ton of $$$. relative to the supply, there’s probably more on the demand side hence these high prices. it is what it is. I dont like it but I dont pretend that it aint true.