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]
well the muggings are occuring becuase the Farragut residents haven’t got the new supermarket yet. As soon as they raze adimral’s row and put in the keyFood things will be ok.
2:01: This ain’t Dumbo.
Even if the comps are for one bedroom apartments, they are only for 130k-200k. So a tiny two bedroom in the 300k range does not look that good.
Is that Al D’Amato commenting?
I also read the article recently that there was an absurd amount of muggings happening around this particular building in the past few months. This is probably why the prices are so low. It said that the police in Dumbo were going to step up patrols around the area and focus specifically on this building, however, I think this location is just horrible. I would rather pay more and not live between an overpass and the projects.
btw there is not a single unit there bigger than 500 square foot…they are box sized and tiny. so when u really look at it, there is much better use for one’s money that this place.
Brownstoner mentality on full display: trash every new-build condo that comes along but give (seemingly) serious consideration to the possibility of living in this incredibly atrocious, squalid dump just because it’s ‘old’.
This site jumped the shark a while ago, probably, but this post confirms it.
me chinese, me play joke, me put pee pee in your coke.
For these prices you could buy three-two bedroom apartments, do $150,000 worth of renovation, hire one $50,000 a year bodyguard and another $50,000 a year exterminator/hallway cleaner, and still have spent only a third or a fourth or a fifth of a Park Slope-Brooklyn Heights Brownstone. Or, look at it another way, you have a nice apartment in Dumbo for less than a condo in one of the walentas buildings and less than a comparably sized apartment in downtown brooklyn or Forth Avenue bleak no-man’s lands.