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
I’ve actually been to an open house for this place and indeed it feels smaller in person than the floorplan indicates. The kitchen is an awkward, circa 1987 hallway thing, and the bathroom could really use a cosmetic overhaul. The two real bedrooms are nicely sized and have good closet space. The real drawback, however, is the natural light situation; except for the room off of the kitchen area, the apt feels dark and isolating.
i got bored and use bit map to change their layout lol. i wish i had cad.
http://img152.imageshack.us/img152/5025/boredrf9.jpg
You can put in a very nice kitchen for 20k.
50K would get you a new kitchen, new bathroom, stackable washer/dryer and some great vintage furniture for the whole place.
I don’t know how many 2 BR coops you all have seen in Park Slope, in these older brownstone and limestone buildings, but it sounds like you’re all comparing this to condos on the market, not other similar brownstone coops. I’ve never seen a 2BR coop of this size in Park Slope with 2 bathrooms. They’re so rare.
Having one bathroom is totally standard. If you want two, you’d have to buy at Novo Park Slope condos, or lose living room space in this unit to put the kitchen in it, as somebody said. But remember small living rooms = clutter clutter clutter.
I like the living room painted brick wall with streamlined fireplace too. But the kitchen looks like a rental. I bet anything the other comp that sold at $615,000 had a new updated kitchen in it. This old kitchen means taking up to $50,000 off that price. To start.
It really doesn’t pay to do a full bath, but a 1/2 would be nice for a family. We have a duplex with a 2nd full bath on the kitchen/living floor which has been used for bathing once in 6 years. I’d definitely compromise on a 2nd half v. full bath any day if the space was great. Giving up a 2nd toilet I might not compromise on.
Re: AY and property values,
AY opponents have long insisted that the housing and arena will (1) cause property values to plummet and (2) cause instant gentrification. It’s like saying that a person is fat and skinny at the same time. I’ve given up trying to figure that one out.
A lot of the floor-thru, true 3-bed apartments (1,000 or 1,100 sqf) in brownstones in PS and elsewhere only have one bathroom. I’ve always thought of that as a deal-breaker for a family of 3 or 4 moving into one of those. But clearly, people do live with it.
Anyway, point is, the one-bath in this place, while no less desirable, appears to be a deficiancy common to a lot of brownstone apartments.
I’ll bet you all that this space will feel much more cramped and small in person. I’ve been through this so many times already. The floorplan looks passable, the price too, and then in person it’s very small.
Some nice ideas 2:04, but closing off the one real bathroom doesn’t help when it is time for the kids(s) to bath. Not seeing how you would fit another full bath in there without losing the whole office/dining room.