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
really kind of hard to compare since PH studio doesn’t have floorplan or sq footage. It seems to me that PH is doing very well in general – I think it actually is the place to invest in bkln. So many people seem to have completely gotten over the “if I’m going to be in bkln at least let it be as close to manhattan as possible” attitude, I’m thinking BH has nowhere to go but down (at least relatively, as these prices seem to indicate…)
Purely by the numbers:
According to the floorplan, the orange place is 364 sqare feet, so thats $876 per sf.
This is a little high for a co-op but on par with the neighborhood.
I’m going to assume the PH place is about the same size (although it actually looks smaller in the pics), so it’s price per square foot is $783, very high for the hood.
To warrent this price tag, the place would have to be about 500 sf feet.
So i say orange.
PS: I live in ph
I really think Eastern is the better deal – I like the sunken living room (or is a raised entry?) and that the kitchen has a window. Closet space looks good too. I also like that it’s on the 4th floor. I don’t like 1st floor units…
It’s not completely fair to compare without floorplans for both and s.f. dimensions but I know I’d also much rather live near the park than the Promenade.
I’d rather have the Prospect Heights place also. More fun area with lots to do nearby. And the park.
Home prices across the U.S. are forecast to drop another 10% by January 2009.
But somehow 12:53 thinks they will fall 50% in New York City. Keep dreaming for that 150K studio, buddy. Not happening in this lifetime.
The Orange Street place is obviously the better deal, both in terms of the apartment itself and the location.
Most of the brain-addled hipsters on this site will say that there is “nothing happening” in Brooklyn Heights and therefore it is a highly undesirable neighborhood.
So boring. There is nothing happening between their ears, that’s for sure.
1:02 #1. You don’t have to rub it in the face of “underwater” homeowners that 12:53 only has rent to worry about. Very inconsiderate.
I was at the Brooklyn Museum on Saturday afternoon and took a stroll around the neighborhood afterwards. Some kids were openly dealing drugs around the corner from the Eastern Pkwy. apartment, so I’d go with the Orange St. place. If I wanted to pay $320K to live in a walk-in closet, that is.
It depends on where you want to live. There is nothing going on in BH. I’d rather live in PH. It is much closer to the spots that I frequent.