Co-op of the Day: 232 President Street, #3L
If you don’t mind ’em long and skinny, this two-bedroom co-op at 232 President Street in Carroll Gardens could be for you. The apartment has lost some of its original detail to a middle-of-the-road-looking renovation, but there’s still some plaster moldings left in the main living/dining area. Located in the rear, the master bedroom is…
If you don’t mind ’em long and skinny, this two-bedroom co-op at 232 President Street in Carroll Gardens could be for you. The apartment has lost some of its original detail to a middle-of-the-road-looking renovation, but there’s still some plaster moldings left in the main living/dining area. Located in the rear, the master bedroom is probably nice and quiet. The maintenance for the walk-up apartment is $650 and th e asking price is $699,000. What do you think?
232 President Street [Corcoran] GMAP P*Shark
232 President recent sales:
02/15/2006 Apt #2L – sold 4 $544K
02/22/2007 Apt #1R – sold 4 $540K off list $549K
05/12/2008 Apt #1L – sold 4 $690K off list $650K
Maybe #3L will spark a bidding war like #1L and go for $745K?
I have my doubts we’re in that kind of a market, but you never know.
I think the price is insane, and I don’t understand the Carroll Gardens price premium (guys, it is the F-train. It sucks) — but I love the layout.
Boerumhill, did you actually look at previous sales in this building?
Maly, you made up the 714 figure, not me.
Here some quick and dirty comps using Street Easy (far from perfect methodology, but gets us in the ballpark as to why today’s listing is too high):
We found 121 listings sold with 2 bedrooms
Median price: $695,000 Median size: 1,002 ft² Median price per ft²: $655
We found 22 listings in contract with 2 bedrooms
Median price: $752,750 Median size: 1,086 ft² Median price per ft²: $704
Information on Carroll Gardens
At $699K, this one is just not even close to the comps.
900 Sq ft? That’s…creative. Shifts it to $777…meaning if it were true (and its not), then the target price to get ‘er done is $649K.
Here is why 900 sq ft isn’t possible even as a fantasy. The building is 65 x 32.5. OK, this is one half…not sure why the floor plan shows an apartment that is not more than 59.5 in length, but let’s give them full credit for 65.
900/65 = 13.846
Show me one room in that floor plan that is comes close to 13’-13/16″. The LR is 10’8″, same as the MB on the other. The dining room is sightly wider than any other and checks in at 7-1/3 x 12-1/2.
12.5 x 65 = 812 (but most rooms are around 10-2/3)
12 x 65 = 780
11 x 65 = 715
Again, 900 is not possible.
NYGuy, you seem to have your long-and-narrow stuck in the zipper. $699,000/714= $979/sf, or “almost $1,000/sf.” Maths rule.
Or you could just forgo facts, and go with a feeling of space instead.
I’m not denying that they’re asking on the high side. But that statement that it’s asking 1,000 psf is ridiculous.
Also, the comps in the building show that price wasn’t just wishful thinking. The first floor unit sold for 690,000. with he same layout too.