Co-op of the Day: 110 Hicks Street, Reduced Again
It’s been a tough slog for the lower duplex at 110 Hicks Street. Since getting listed back in October for $2,400,000, the price of the brownstone two-bedroom has been reduced twice, most recently from $1,990,000 to $1,850,000. (It was listed as part of a larger combination last summer.) We suspect this is getting pretty close…
It’s been a tough slog for the lower duplex at 110 Hicks Street. Since getting listed back in October for $2,400,000, the price of the brownstone two-bedroom has been reduced twice, most recently from $1,990,000 to $1,850,000. (It was listed as part of a larger combination last summer.) We suspect this is getting pretty close to a market clearing price, given what a stand-alone townhouse in this part of Brooklyn Heights would run you. Think this most recent cut will get the deal done?
110 Hicks Street, Unit 1 [Douglas Elliman] GMAP
Co-op of the Day: 110 Hicks Street, Reduced [Brownstoner]
Co-op of the Day: ‘Spensive on Hicks [Brownstoner]
this house would be 5 or 6 million as a whole house.
for a 30 year old junior executive on wall street only making a million a year, this place will be perfect.
not everyone wants the upkeep of a 5 million dollar mansion at the age of 30.
thanks for that incredible insight into the market, 1:15. you seem so wise.
i think you don’t know your ass from your elbow is what i think.
1:15 is absolutely right–hit the nail on the head. Except I would add that A & B make sense even in a strong market. Especially for the people that can afford this price point.
I think the real estate market is pretty weak now. These are cute houses to buy in their entirity, but I think this is too much money for half a house. People who are conversant with finances realize that it makes sense to a: buy a whole house or b: buy a condo or coop in a full-service building with more than twenty units.
Basic finance guys – opportunity cost of capital….people don’t keep the cash under their mattress earning 0.
rough eyeball puts it at around $1K per square foot. What would a comparable quality rental go for in the heights?
Except that this isn’t “enough” for a Wall Streeter. 1/2 a house? I don’t think so.
Anyone buying this, 1:06 is going to be a Wall Streeter who pays all cash for it.
Where do you live? Under a rock?
This will be their bonus money.
Their mortgage payment will be ZERO.
My BH apartment cost just 900k and even I put down 500k. People here don’t put down 20%. We got the cash and only take the mortgage that makes the most sense tax-wise
Asking Price = $1,850,000
Mortgage Amount = $1,480,000
Down Payment =$370,000
Monthly Mortgage Payment = $9,477
Maint/CC = $1,490
Total Monthly Costs = $10,967
Yeah, $11k/mo is a real bargain for a 2BR apartment.