Co-op of the Day: 19 Seventh Avenue Studio
Okay, we know you’re not going to find anything else for much cheaper in Park Slope Proper, but still, paying $249,000 for this glorified shoe box in an otherwise generously-sized brownstone at 19 Seventh Avenue seems like a bit of a stretch to us. The listing spins the place as “cozy” and plays up the…
Okay, we know you’re not going to find anything else for much cheaper in Park Slope Proper, but still, paying $249,000 for this glorified shoe box in an otherwise generously-sized brownstone at 19 Seventh Avenue seems like a bit of a stretch to us. The listing spins the place as “cozy” and plays up the “modern” kitchen but, eesh, after you put down $50,000, you’ll be paying, what, $1,200 a month in mortgage plus another few hundred bucks in maintenance? We can’t see a whole lot of upside when it comes to resale (and can easily imagine a scenario in which you can’t even get your down payment back out) so why not just rent?
19 Seventh Avenue, #BR [Douglas Elliman] GMAP P*Shark
Photo by Kate Leonova for PropertyShark
Will be worthless once AY is done.
Take it from me–you just need to see this apartment to believe it, it is seriously hysterical. I looked at this studio back in the winter or spring (it was listed at I think $300K and by Foxton’s) and I almost died laughing. People looking at the listing may not understand that what you’re seeing in the photos of the kitchen is the ENTIRE apartment. What it is is a large basement kitchen, in a brownstone that’s been carved up in some weird way. It totally blew my mind that someone could market this as an “apartment”–you’d have to go to Manhattan to see something this insane. As I was cracking up, this chagrined broker tried to put on the best face by pointing out the spaciousness of the bathroom. Stone’s throw from the B/Q it’s true, but to wedge yourself and all your belongings in a small kitchen? It would be inhumane.
the point is, 1:18, that while this might be the smallest unit in the building if it’s the front because the stairs take up that extra room, it’s not that severely overpriced (i personally don’t think it’s overpriced at all since you can’t rent something similar for less in this area) given you’d spend 3 million for this entire building.
i didn’t mean to get into specifics, but most people buying a brownstone in park slope, ft. greene, or brooklyn heights are indeed spending this kindof money for this amount of space.
you just don’t realize it until it’s broken down like this.
i’m not saying it’s bad, it’s just a fact.
oh and it’s directly across from those vermeil condos going for 2 million a pop.
i’ll take the shoebox anyday over clermont, florida.
I seriously doubt you are getting anywhere near half the floor. I am guessing you are only getting that narrow little slice with the two windows behind the bay window on the ground floor.
“I’ve seen studios this size in this area sell for closer to 300K and a couple even in the low 300’s so if someone is sick of renting, I think this place looks pretty cute.”
Is the joke on us or them?
http://tinyurl.com/39k3gb
A sample to play devils advocate, 1:08:
4 story house. 2 units per floor.
250K each
500K each floor.
2 million for the whole thing
No way you’d get this whole place for 2 million at this location.
Might seem like a lot, but most people on this blog pay more for the same amount of space when buying a brownstone. In Park Slope anyway.
Nice location, but a quarter of a million to live in a ground floor studio? Pass.
btw, it’ 10% down.
not 20.