Co-op of the Day: 175 Eastern Parkway, #6M
This studio at 175 Eastern Parkway ain’t huge (409 square feet), but it’s in a charming building and has ample prewar charm itself. The top-floor apartment also has a brand-new kitchen as well. Nuthin’ crazy but a nice place for some young single person to call home. What do you make of the asking price…
This studio at 175 Eastern Parkway ain’t huge (409 square feet), but it’s in a charming building and has ample prewar charm itself. The top-floor apartment also has a brand-new kitchen as well. Nuthin’ crazy but a nice place for some young single person to call home. What do you make of the asking price of $229,000?
175 Eastern Parkway [Corcoran] GMAP P*Shark
I’ve been in other apartments in that building, stephenb – the age of the place can veer into rundown, but it’s a solid classic building with a great location. Definitely keep it in mind.
I went to the open house on Sunday.
The apartment does not show well. The place is very dirty. The floors, sticky. Yuck. I walked in…and out.
Its tiny…no views.
These photos must be from before the current occupant moved in.
I really like the building though. Has a nice feel and I would definitely consider other apartments there.
“It’ll never go to to 144,000.”
Yes it will. It’s a studio for crying out loud. The kind of units that suffer the most in RE crashes. Who holds a studio coop for long? High turnover especially in a coop.
You refute my bottom price but not my rent. Historical mean of 10x will revert or worse.
“What’s the maintenance?”
Four fitty. 450 + 0.625 (37% depreciation) x 229,000/60 over 5 years (typical purchase/resale cycle) = $2,835/mo. $2,154/mo over 7 years. Okay say $1,800/mo to 2,500/mo after tax deduct. $2,150/mo average total cost still twice as high as renting (renting will be even cheaper as economy and employment collapse further).
Yeah, it’ll never go for $144,000 or less. Ha ha ha! Laugh of the day.
***Bid half off peak comps***
What’s the maintenance?
One bedrooms in that building have sold in the upper $200’s – why spend this amount for a studio?
It’ll never go to to 144,000.
You can spend about 30k more and get a few more sq. ft in a doorman building with more amenities.
Probably rents for 229,000/(16 x 12) = $1,200/mo today. Will sell for 10 x 1,200 x 12 = $144,000 “tomorrow” at market bottom.
Caveat Emptor!
***Bid half peak comps***
kitchen and entrance look nice but not for that price or for a studio
Kitchen looks ok, but I need a floor plan. Also, why show the lobby, your not renting that, and who cares what it looks like.