Co-op of the Day: 670 President Street, #3A
It’s not in the fanciest building in Park Slope, but this new listing at 670 President Street is quite charming. The one-bedroom pad has prewar details, a modernized kitchen and a layout that works quite well. It doesn’t have a doorman or an elevator, but that’s why the maintenance is only $545. What do you…
It’s not in the fanciest building in Park Slope, but this new listing at 670 President Street is quite charming. The one-bedroom pad has prewar details, a modernized kitchen and a layout that works quite well. It doesn’t have a doorman or an elevator, but that’s why the maintenance is only $545. What do you make of the $439,000 asking price?
670 President Street [William B. May] GMAP P*Shark
Actually, the logic here is pretty simple: when 1D and 1A were selling for $420K and $440K, respectively, 3A, a larger, sunnier unit than either of the two, would have sold for $475K or so, but it wasn’t on the market then. And mortgage bankers and appraisers aren’t looking at what things sold for three years ago, but recently, and recent (last 3 months) comps in this area in comparable buildings show this one’s asking price is in line with the market.
Babs,
The good news is: Unit 1D did in fact sell for $397,500 last August.
The bad news is: it last sold in 2007 for $434,000.
So, as I said, the trend does not bode well.
And yet unit 1D, a smaller unit in the back of the building on the ground floor with no view sold for $397.5K last August, and 1A, also a ground floor unit with a similar layout, albeit with a smaller living room due to the building entrance right next to it, sold for $440K in 2007. 5C is a fifth-floor walk-up; this is three flights, which makes a considerable difference (try comparing the two).
not loving in, hardly any windows.
thumbs down
Unit 5C boasted of “terrific views of the harbor, Statue of Liberty and NYC skyline” and sold for $389k in 2009.
It previously sold in 2005 for $420,000, so that trend does not bode well for the $439k price of 3A.
how many flights of steps does one need to climb to get a “thrilling Manhattan view”?
OK for a young person or couple with no kids who accepts that this is a place to live for a while and not an investment that will make them rich.
Quote:
What do you make of the $439,000 asking price?
If there were a widget, we could tell you.
Just because you can’t see it on the one pic doesn’t mean it’s not there. You can probably see parts of Manhattan if you walk over to the window. They took the pic from the opposite end of the room anyway. Besides, judging by the pictures it’s not like you need a view to sell this place anyway.
Not a bad price for the space and location, but a Manhattan view (thrilling!) from a 3rd floor apartment? I see the top floor and roof of the building across the street….not Manhattan.