Co-op of the Day: 101 Lafayette Avenue, #1K
101 Lafayette Avenue aka The Griffin is Fort Greene’s grandest prewar apartment building. Built in 1931, the 17-story has 202 co-op apartments in it. Or, make that 203. A former ground-level office space has just been converted into a 1,475-square-foot two-bedroom apartment with a private terrace. The conversion looks straight-forward: Nothing fancy but nothing offensive…
101 Lafayette Avenue aka The Griffin is Fort Greene’s grandest prewar apartment building. Built in 1931, the 17-story has 202 co-op apartments in it. Or, make that 203. A former ground-level office space has just been converted into a 1,475-square-foot two-bedroom apartment with a private terrace. The conversion looks straight-forward: Nothing fancy but nothing offensive either. If this were on a higher floor, the asking price of $825,000 would be looking pretty tasty. For a ground-floor space, though, not so sure. What do you think?
101 Lafayette Avenue, #1K [Corcoran] GMAP P*Shark
Went to an OH there last weekend. I rent in the neighborhood and had been intrigued by the building, knowing that there were so many units for sale inside, and so was excited to check it out. I was thoroughly disappointed by the building in and of itself, and the studio we saw was a bit of a joke, but the 1-BR up on the 11th floor was awesome.
The building was pretty dingy and unimpressive – ugly drop ceilings and sterile fluorescent lighting in the hallways, and some of the floors reeked of that mix of cigarette smoke and sanitizer. And the studio we saw was nothing special, space-wise, and didn’t even have a full refrigerator. It was basically a glorified dorm room.
But the 1-BR we saw was gorgeous, high up with great views, good space, great kitchen, and the light in the bedroom was amazing. I was definitely jealous of the folks who get to wake up in that room on lazy Sundays.
All in all, it has its pros and its cons, and I guess how hot the neighborhood is drives the price up (having lived there for 2 and a half years now I can safely say it’s no longer a well kept secret), but I’m not convinced that what you get is worth what people are paying for units in this building, even relative to the crazy NYC real estate market. Keep your wits about you out there, people!
Still a total rip-off, I don’t care how pretty the building is. No chance of making a profit within the next 10 years!
The sales prices for studios here makes yesterday’s 1BR at Berkeley and Plaza look good, IMO.
Studios in general in Brooklyn seem to go super fast these days. I guess cause there’s hardly anything on the market at all for less than 350k or so. I’ve seen the value on my studio go through the roof. Luckily, I’m still quite happy with it and have no plans to move anytime soon. Judging from what others on my block are selling for though, looks like prices have gone up almost 100K since 2 years ago.
How is this a good deal? $825K?
According to Street Easy this unit has been on the market since last June, so I guess that answers your question about the desirability of the ground floor.
Well, technically you need to climb out the windows to use the terrace so it’s of no use. Plus, the terrace makes it easier for some thief to climb up and rob your apartment…
This building is definitely a hot commodity. I was interested in a 474sf studio listed last Oct for $305k, but they quickly got offers that pushed it out of my range. 90 days later it sold for $345k.
12:47/12:52 = you are truly scary and disgusting.