Co-op of the Day: 111 Hicks Street, #8R
This co-op at 111 Hicks Street seems like a pretty decent deal. For a real one-bedroom apartment with light and views in this Brooklyn Heights location, $325,000 is not a bad price at all. The monthly maintenance of $973 seems a tad high, but not as onerous as we expected. As for the interior of…
This co-op at 111 Hicks Street seems like a pretty decent deal. For a real one-bedroom apartment with light and views in this Brooklyn Heights location, $325,000 is not a bad price at all. The monthly maintenance of $973 seems a tad high, but not as onerous as we expected. As for the interior of the apartment, there are solid prewar details and the kitchen looks perfectly nice. Are we missing something?
111 Hicks Street, #8R [Brown Harris Stevens] GMAP P*Shark
Someone needs to tell the agent/writer that “double exposure†means light from two directions, not from two windows. 😛
I wonder how much of the maint is tax deductible… that could make a big difference. The kitchen is crap, but 325K is pretty cheap for a non-studio in BH.
$973 maint/cc may not be considered high in Brooklyn Heights, but anything over $1.25 psf is out of line.
The two rooms with listed dimensions are around 353 sq ft. Looking at other R line apartments with the same config, we can guesstimate the Bath/Foyer/Kitchen is roughly 175. Let’s be generous and make it 550.
$1.77 psf is too damn high.
Doesn’t seem like a bad deal. Adjusted for taxes this is materially cheaper (apparently) renting a studio in Ft. Greene — and you are building equity!
Would be nice if you could partially open up the kitchen to the living area though
I’m with Fjorder. I would never pay $2,333+ a month for this charmless apartment if it were a rental.
So it’s a co-op so that means 20% down.
20% down on 325k is $65K.
+ $$$ for closing, etc one is looking at another $10K.
Interest rates right now are hovering around 4.75 or so. At that number for a 30-year fixed on 260K is about $1,360/mo.
add that to the maintenance and you’re at $2,333.
Now, who wants to pay $2,333/mo. + 1 point to live in a cramped 1BR, with 75K+ up front?
“Are we missing something?”
yeah – the widget.
Certainly not unreasonably priced given the neighborhood, based on the information available. Though that kitchen is seriously dated.
That maint. isn’t out of line for full service building in Brooklyn Heights.