Co-op of the Day: 16 Lincoln Place
The asking price on this third-floor 2 1/2 bedroom co-op at 16 Lincoln Place in Park Slope was just trimmed from $615,000 to $599,000. The apartment next door, which is of a similar size but probably not identical layout, sold for $615,000 back in September of 2006 so this has to be in the right…
The asking price on this third-floor 2 1/2 bedroom co-op at 16 Lincoln Place in Park Slope was just trimmed from $615,000 to $599,000. The apartment next door, which is of a similar size but probably not identical layout, sold for $615,000 back in September of 2006 so this has to be in the right ballpark. The apartment is pretty non-descript, though we suspect most potential buyers will at least think about tweaking the bathroom and kitchen. The maintenance is a reasonable $611 per month. We suspect a deal will get done pretty quickly at the new price. Agree?
16 Lincoln Place [Corcoran] GMAP
Not sure they are afraid to go through the board per se, they usually just don’t have the financial credentials to be accepted by the board.
I personally love living in a small co-op. It’s nice to have some control over what takes place with the building and to have some say in who lives here. With small spaces and people on top of one another, I think the system works quite well in this city.
I’m wary of condos, especially as friends lately have bought them and seen them become overrun with renters…many of which simply don’t have the same sortof pride and interest in the building as the owners do.
In a co-op, we have a few renters here, but we make sure that owners make up the majority. It seems to work for us.
There are windows in every room, though three of them are into airshafts and another one looks out into a tight space enclosed on three sides by buildings.
How much if this were a chicken coop?
“Co-ops are always priced less than condos.”
True. But only because co-op maintenances are higher because they include taxes and so on. And because they usually require 20%. And because they screen out people who are afraid to go through a board.
You are not buying from the President of the co-op board. The apartment for sale is 3B. The co-op president lives in 2A. He/she simply came on to give some facts. I do not believe they are the owner of this apartment, if I’m reading it correctly…
Follow up. I am the President of the cooperative but not the one selling this apartment. This is being sold by another family.
Marion
i don’t really agree, 2:48.
I think some folks would rather get the place for a lower price and make the updates themselves.
This place is like a blank canvas. For a couple, even with a child, this is the perfect place to come in and add your own touches to it.
It would work with many different styles.
In this market, it seems a deal on price is more a consideration than paying top dollar for improvements that may or may not be to the new owners liking.
A do it yourselfer could do this easily.
For those who look to NJ when they think they are priced out of Brooklyn, it’s nice to know places like this are still out there without costing an arm and a leg.
Sure — more than a half a million for a walk-up with a master bedroom that is barely large enough for a queen-sized bed and dresser. ok for a couple at most!
Does buying from the Prez of the co-op board guarantee instant approval?