Co-op of the Day: 10 8th Avenue
Prime, baby. Prime. This parlor-floor two-bedroom at 10 8th Avenue in Park Slope has a lot going for it: Original detail, high ceilings, new kitchen, convenient location. As best we can figure, it’s probably about 1,200 1,500 square feet or so (the bottom two floors have a 15-foot extension), which puts the asking price of…
Prime, baby. Prime. This parlor-floor two-bedroom at 10 8th Avenue in Park Slope has a lot going for it: Original detail, high ceilings, new kitchen, convenient location. As best we can figure, it’s probably about 1,200 1,500 square feet or so (the bottom two floors have a 15-foot extension), which puts the asking price of $1,250,000 around the $1,000 $825 per square foot mark. The top floor unit, which must have lower ceilings and may have a smaller layout depending on setbacks in the rear, sold for $865,000 in the summer of 2006. The most similar listing we can recall was the parlor-floor unit at 101 8th Avenue that Warren Lewis had listed for $995,000. Think $1,250,000 is stretching it?
10 8th Avenue [Brown Harris Stevens] GMAP P*Shark
Geez, I thought all the Park Slope hating and bad stroller nazi publicity would make prices level off and go down…
i’m confused….keep telling myself what, exactly, 5:35?
that prices will eventually rise again?
ok, don’t mind if i do.
i like logic.
keep telling yourself that 5:18. i hear they are accepting applications at tgi fridays. no experience necessary…
the vegetarian cafe in the west village ‘snice is opening a second shop on 5th avenue and 3rd street. the sign is up.
so according to your logic, 5:08 since you don’t think this place will be worth $1000 psf till early 2009, you think it would be better to wait till then and pay more for it?
you don’t understand, do you. once the news starts picking up that real estate is back to a more normal appreciation level, it will be too late.
this place will be 1.4 million by that time if it’s still on the market.
this area of brooklyn is prime real estate.
the place at 101 8th sold for $999,000.
4:50 – read the papers much? $1000/sq ft. for Brooklyn co-ops might have seemed like a realistic near term prospect six months ago, but these days the chance of average co-op sale prices crossing that barrier in 2008 is pretty friggin low. Any apt that isn’t already in contract isn’t going to close anywhere near $100/sq ft until 2009 at the earliest.
Oh – and the current motivated buyer population (pretty much confined to Goldman employees and foreigners) won’t trade down from Manhattan to Brooklyn just because a few new stroller-mom shops open up on 5th avenue.
There is not way they are at $1k when Manhattan is at that level.
ummm….15 central park west is selling for $6200 psf. many, MANY buildings in manhattan are selling for $3000 plus psf.
keep up with the times.
1000 psf is a deal for manhattan below 96th.
it will be for more of park slope sooner rather than later.
the neighborhood is getting some tremendous retail.
2 apartments in my building near here are currently in contract averaging out $940/sf. Our building has nice detail but needs a lot of work on the hallways and exterior.
I also saw this listing at the first open house. I wasn’t impressed. Strange layout and there was a terrible view from the living room. And the broker had told me that it is about 1750 square feet, which is not the case at all!
PS prices are closer to $700-$800 square foot. There is not way they are at $1k when Manhattan is at that level. It’s still Brooklyn – longer commutes, lack of foreign buyers.