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
“But, believe it or not, many middle-class families who want to stay in the city but can’t afford alot of money will compromise on a 2nd bathroom. They don’t like it, but it’s a compromise they are willing to make.”
“a couble making both around 70k could pull this off pretty easy”
not sure how the first one defines “middle class”, but $600k is not chump change. with lending standards these days, you should have at least $150k in cash (20% down plus some reserve) to buy this. i doubt many couples making $75-125k (wikipedia says $40-95k is middle class) would meet that criteria.
the second one seems to imply a couple with what #1 probably deems “middle class” income could do it “pretty easy”. my wife and i make ~$200k combined and can’t afford this place. with maintenance, it’s $3500 after 20% down. we could probably sacrifice for the monthly, but not quite there on the $150k. for now, we’ll stick to our bigger, ps321-zoned, one bathroom floor-through for $2,500 thank you very much.
“You can put in a very nice kitchen for 20k.”
Yes, but people pay $50k if it is ALREADY done.
This is the best discussion (in terms of information and civility) on Brownstoner in weeks. Best of luck to the owner who’s selling, and who had the guts to identify themselves.
This block has a children’s playground, no?
I live in and am the President of the cooperative at 16 Lincoln Place. Actual footage is 775 s.f., not 850. Plumbing will not permit stackable washer/dryers. We have 2 washers and dryers in the basement.
This cooperative is self managed keeping maintenance low. New purchasers can upgrade the kitchen easily as have most folks in the building. 20% down payment is required. Good luck to all. If you have questions feel free to contact me.
Marion (apt. 2A)
“Not more. Less. Condos bad.”
Sorry bud. Not true. A pre-war CONDO costs more because it is real property, and not a share in a corporation. Also, not having to go through board approval for entry, and then for everything else you do with it, adds value. Co-ops are always priced less than condos.
For the size and the good layout, I think the price is rather reasonable as is the maintenance (only 35% deductible). Yes, probably 20K for a nice new kitchen, bathroom is fine and space is good. Great to have a woodburning fireplace, as well. Would expect this to go quickly.
Looks like all rooms have windows, even the office, so that is a plus.
Brownstoner: A listing every month with the status of recently soldHOTD, C-OOTH would be nice to see how right or wrong all of the comments are.
This is near the very best of what 5th Avenue has to offer.
The northern section of 5th has seen about 10 new shops/restaurants open up in the last year or so.
Flight001 is my favorite new addition.
not a bad price, reasonable maintenance charge.
needs serious cosmetic work.
1:03 mentioned “a few blocks from AY”
You’re a bit off. check google maps next time; it ain’t that close.