Co-ops of the Day: Head-to-Head Studio Battle
Douglas Elliman put up two new studio listings last week, one in Prospect Heights and one in Brooklyn Heights. The Prospect Heights pad, at 55 Eastern Parkway, is on the fourth floor with an asking price of $285,000 and monthly maintenance of $435; the Brooklyn Heights unit, at 54 Orange Street, is asking $319,000 with…
Douglas Elliman put up two new studio listings last week, one in Prospect Heights and one in Brooklyn Heights. The Prospect Heights pad, at 55 Eastern Parkway, is on the fourth floor with an asking price of $285,000 and monthly maintenance of $435; the Brooklyn Heights unit, at 54 Orange Street, is asking $319,000 with a maintenance of $333. Which do you think is a better deal?
55 Eastern Parkway, #4F [Douglas Elliman] GMAP
54 Orange Street, #1E [Douglas Elliman] GMAP
With 20% down and a 7% mortgage, the BH coop is $2030/month with maintenance, and the PH coop is $1951/month with its higher maintenance. That’s a $79 difference per month, BH is a much better investment considering the nicer area as well. Less to worry about the value of the BH apt going down as much as PH in the event of a recession, and the maint is already cheaperin BH. More than $400 is a little steep for a dinky studio.
Brooklyn Heights is not a flood zone. It is called the “heights” for a reason.
11:58. Ahoy. Have you ever been to Brooklyn Heights? Most of the area is at least 50′ above sea level.
I’m a relatively new BH resident–and, yes, I sometimes feel that, while there, I must take my pulse to ensure I’m still alive.
But I feel the old versus young bakeoff to be repellent.
Each group undoubtedly requires different things of its neighborhood, to which each is “entitled.”
In other words, it’s not either-or.
Everyone likes to see, to a greater or lesser degree, him- or herself reflected in the makeup of the nabe in which he or she lives, but many enjoy a mix.
The low as well as the high is greater than the high alone, said St. Augustine–words to the wise.
“Yeah, PH and the 77th have had 11 murders and 14 rapes so far this year, versus 0 and 1 for the 84th and BH. Plus, living near 4 or 5 methadone clinics is really appealing.”
At least PH won’t be underwater in a hurricane when the big one comes.
Paying the highest prices in all of Brooklyn to live in the very worst flood zone. That’s smart.
I live in Brooklyn Heights and I am 95 years old. I broke my hip and never had it fixed so I can’t walk to the few restaurants near me. But that is ok since my teeth fall out a lot since the stroke. (If you find them, please return them to me.) I don’t understand why kids today do not want to live near me. This area is so much fun.
re: 2:36pm…I am a 23 year old single male who loves living in Brooklyn Heights, along with one of my best friends, a single 23 year old female who works in the music industry. There’s Brooklyn Law students, the NYU grad dorm on Livingston, and plenty of young professionals living in Cobble Hill.
BH is a 10 minute walk to many great bars on Smith and Atlantic. Am I the only one who would prefer not to have busy bars, and with it drunk people late at night, on the same street I live on? Whatever happened to a little peace and quiet at home?
For those who are complaining about the lack of amenities in BH and detracting from the attractiveness of the neighborhood…can you explain why DUMBO is so popular (read: overpriced) given its lack of amenities? BH is DUMBO without the projects or reliance on a single subway.
So to answer the question, I take the BH unit without much hesitation; living near a museum and a library is not enough to influence a $300k purchase for me.
I live inside the Brooklyn Museum. As a child, I read From the Mixed-Up Files of Mrs. Basil E. Frankweiler, and that gave me the idea to live inside of the Metropolitan Museum of Art. But the Brooklyn Museum is just, you know, so much more real and down to earth. Plus I get free wi-fi.
I can’t believe we are arguing PH vs BH.
They are both boring – but BH is closer to Manhattan so it wins.
Since when did PH become “hip” ???
If you want hip, rent in Williamsburg or Bushwick. If you want to buy a nice apt that will keep its value – don’t stray from the best neighborhoods – ie BH, PS, CG etc.