Co-op of the Day: 147 Prospect Park Southwest
We think this prewar two-bedroom co-op at 147 Prospect Park Southwest is looking like a decent buy at $574,000. The sponsor unit has beautiful parquet floors, beamed ceilings and stripped wood moldings; it also has a separate dining area. In addition, the monthly maintenance of $727 seems reasonable for a 1,000-square-foot space. Too bad the…
We think this prewar two-bedroom co-op at 147 Prospect Park Southwest is looking like a decent buy at $574,000. The sponsor unit has beautiful parquet floors, beamed ceilings and stripped wood moldings; it also has a separate dining area. In addition, the monthly maintenance of $727 seems reasonable for a 1,000-square-foot space. Too bad the sponsor put in such a crap kitchen though.
147 Prospect Park Southwest [Orrichio Anderson] GMAP
147 Prospect Park Southwest [NY Times] P*Shark
mortgage applications were up drastically last month, 2:02.
up like 34%
I’d like to know where 1:33 and 1:51 got their crystal balls cause I want one. Are you both aware of what’s going on in the financial markets? Of Goldman’s statement about recession? Latest housing starts and existing sales figures? Optimistic’s one thing; delusional’s another.
I used to live right over there for almost 12 years, even thought Lonleyville is right there, the block is always filled with drunks from the bodega and the bldg isn’t that nice.
“Prices will firm up by Sept then head much higher.”
Horse hockey. Prices are heading down and will stay flat for years. Particularly for third rate units in second rate locations like this.
1:51 Certain parts of Prime Brooklyn already get $1000/sf (not all places, but some). See Brooklyn Heights and Park Slope to start.
BTW, wha’ts the neighborhood like near this property. Aside from transportation, are there restaurants, delis, bars, food markets, shops, etc. Is the area relatively safe?
1:33 pm is spot on. Prices will firm up by Sept then head much higher. By 2010 prices will be back to November 2006 highs & by 2013 (5 years from now) prices will have appreciated 50% from current levels. Prime Brooklyn will be an extension of Manhattan for most, especially those who aren’t trustfunders, boring Ibankers, poseurs & Sheep that currently purchase in Manhattan. I think Prime Brooklyn (Boerum, Cobble, Ft Greene, Slope, Prospect Heights, Carrol Gardens) will be able to get $1000 a square foot by 2012
Check that, should have said the cruddy reno doesn’t make it worth $34k more.
Dang public school education.
Before they stripped the woodwork and put in that fugly kitchen they were asking $540,000.
It doesn’t seem right that a cruddy reno and a weekend’s worth of paint stripping makes the place worth $24k more in market trending flat to down.
If I were in a position to buy (which I’m not), I’d like it at $499. My guess is that it will go for somewhere between $540-574.
Close friends recently (2 months ago) bought a 2-bed one-bath very, very nearby for 60K less than the ask on this one.
This apartment is just slightly bigger, has park views, and has a slightly lower maintenance.
Is that worth 60K more?
We’ll see…