Co-ops of the Day: 167 Sands Street
Here’s an interesting one. We’ve long admired the beautiful turn-of-the-century eight-story building at 167 Sands Street. We’d noticed the chinese lettering on the exterior but had never considered that it might be a co-op. Turns out the 120,000-square-foot building was divided into 120 apartments, possibly as recently as 2004. All the names in the public…
Here’s an interesting one. We’ve long admired the beautiful turn-of-the-century eight-story building at 167 Sands Street. We’d noticed the chinese lettering on the exterior but had never considered that it might be a co-op. Turns out the 120,000-square-foot building was divided into 120 apartments, possibly as recently as 2004. All the names in the public records relating to the building look Chinese. And here’s the kicker: The asking prices look absurdly low. Granted, the building is wedged between the BQE and the projects, but still, $280,000 to $315,000 for a two-bedroom with outdoor space in a prewar building with monthly maintenance under $600? Even if these are unusually small two-bedrooms, the prices still seem too good to be true. Anyone got the straight dope on this one?
Sands Street 2 Bedroom [GMAC] GMAP P*Shark DOB
167 Sands Street Listings [StreetEasy]
Its all chinese? Can you get massage with happy ending? Could be a plus.
It’s about time there’s diversity in that neighborhood.
“Wait 5 years – it’ll be the next 110 Livingston.”
Read what a previous poster said:
“The building is already a co-op, so for it to become a condominium, the current owners/co-op shareholders would have to sell their own building out from underneath themselves. Theoretically possible but I have never heard that scenario in almost thirty years of watching the real estate market.”
I’ll also chime in on the “mighty unlikely” side.
Too bad such a beautiful building (on the exterior) has such a horrific interior. Those pics are scary. Wait 5 years – it’ll be the next 110 Livingston. Some builder will preserve the outside and completely gut-reno the inside.
But it’ll still be next to the BQE….
2:11 NO SHIT. was thinking this the whole time. it’s a god awful piece of shit on the inside in a horrible smelly and scary location, but because the building is OLD on the OUTSIDE, it’s good? W T F? of course my gorgeous condo with central air and landscaping is crap on brownstoner because i have stainless steel appliances no doubt.
brownstoner peeps are sounding crazy.
AND, hey, 2:08 – hilarious. laughed out loud. childish? sure, but, still, hilarious.
If they install bullet-proof glass and throw in a suit of armor, I’m in!
3:27, thanks for the link. Wow, those pics are pretty gruesome. But your first comment makes no sense. The building is already a co-op, so for it to become a condominium, the current owners/co-op shareholders would have to sell their own building out from underneath themselves. Theoretically possible but I have never heard that scenario in almost thirty years of watching the real estate market.
Those pictures say it all!
Supposedly this building is being purchased by Corcoran and turned into condo’s in the near future. So the building will likely be renovated… not sure how it’s going to be pulled off or if there’s any truth to the rumor though.
Here are some pics of an unit currently up for sale:
http://sandystreets.googlepages.com/167sandsstreet