Co-op of the Day: 344 8th Street, #2

And unit #4 in the same building recently sold. From streetesasy…
01/15/2011 Listed by Corcoran at $718,000.
02/18/2011 Price decreased by 3% to $695,000.
02/18/2011 Listing entered contract.
03/25/2011 Listing is no longer available.

I don’t disagree about nutty PS prices, but seems this will likely sell in the high 600s.

Oh, please…reality check here. Even large apartments with more closets don’t provide enough storage for all the stuff most people store these days…that’s a given. Only the young, who haven’t accumulated much yet, and those who manage to live a fairly minimalist lifestyle, have extra unused storage space.

Ok, the first commenter is right in that not getting rid of clutter draws attention to the lack of storage. But this place has very good closets for an apartment of this type. The baskets are neat – and this apartment is not cluttered and is fairly sparsely furnished in general – so the baskets in no way hurt their presentation. (And, frankly, I think they are a lot better looking than a bedskirt.)

And, in brownstone apartments, this is a two bedroom. The room is the original size. The architecture of these rooms hasn’t changed since they started building these well over 100 years ago. It can function as a bedroom – though most use it only as a bedroom for a small child, or instead use it as a study – makes a really nice study or office, actually. Deal with it. If you want two larger bedrooms, you know this, you don’t look in any rowhouse style, brownstone or otherwise.

And, prices…hey, they’ve been above what one would pay per month to rent a similar space for well over a decade now, and that’s even after taking into account a hefty mortgage tax deduction. Still, some people choose buying over renting. i don’t see that changing anytime soon, either. Some will lose money, some will barely break even when they sell, some will make money if they hold long enough and are lucky – and, of course, some witll stay indefinitely. And, plently of people have cash to invest and are buying these apartments with all, or mostly, cash.

This is a nicely sized apartment, with mostly fairly large rooms. I have been in this very one, or another apartment in that short row of 3 similar buildings, decades ago, and they are quite nice inside. This will sell, at whatever the market is for this sort of apartment is.

Being built as an apartment building, it is deeper, and thus the apartment way larger than the typical ones in single-family brownstones that have been made into floor-thrus – there you don’t have the dining room in the middle. This deeper, larger floorplan is worth much more than the ones that have only a living room, with barely room for a dining table in it. The central dining room not only makes a nice dining space (and here, an office space as well), but has allowed for two large closets to be built in the middle there, too.

m4l, yes, yes, must drink some Kool-Aid before I realize that for the monthly cost of ownership, I could rent a real 2-bedroom on Prospect Park West, and keep the $160,000 of dp + closing costs in my bank account.
I find the prices completely baffling.

power of the marketplace listing.

Maly,

here, drink this cup of koolaid before you snap back to sanity.

“The living room of the two-bedroom apartment has a very charming living room”

Huh? Gimme that again?