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]
Anyone interested in viewing the place can show up when the broker’s there, Saturdays between 2-4pm.
I saw a rat zip by in the lobby of the third floor and backed out when i read that there were 9 muggings there in the last year including a shooting (that fortunately didn’t hurt anyone), Place not worth 1/2 of what they want, it just feels like a prizon inside.
Wasn’t there an article recently about elderly Chinese being mugged in Dumbo/Vinegar hill? Is this the building? What a horrible location–cut off by the BQE and easy pickings. The stick-up kids probably look at this place like an ATM machine. Very convenient to stop by 167 Sands to get your going-out money before hopping on the F train.
If the owners are only advertising in Chinese for these apartments than it is illegal housing discrimination.
“whoa, what about anti-discrimination laws?”
Wake up. Obviously, the co-op board isn’t going to tell you that “You won’t get in because you’re not Chinese.” They’ll just create another “reason.” Anti-discrimination laws haven’t prevented realtors from excluding racial and ethnic groups from entire neighborhoods. Or haven’t you noticed?
I went to look at an apt here in the summer. First, to get in you have to walk along the BQE or through the projects, not very well lit at night. The entrance to the complex is through a metal gate, like a prison. There is no doorman. The hallways are filthy. It used to be a YMCA. The indoor pool is in lockdown. Poor ventilation. Small windows. The apartment was tiny, like a YMCA room x2. I would stick my head in the crusted oven if I lived there.
yes, this building is a beaut indeed. i try to give it a close up once-over at least once every 2 weeks.
some interesting reading here:
http://dumbonyc.com/2007/08/28/china-mansion-167-sands/
http://www.brooklyneagle.com/categories/category.php?category_id=7&id=16866
whoa, what about anti-discrimination laws?
“the building is wedged between the BQE and the projects, but still, $280,000 to $315,000 for a two-bedroom”
One, as noted above, you aren’t getting in if you aren’t Chinese.
Two, that location would be overpriced if it were free.