House of the Day: 64 Prospect Place
Here’s a nice two-family in Park Slope for under $3 million. Then again, the Queen Anne house is smaller than your average brownstone so the asking price of $2,650,000 only gets you 2,910 square feet of living space. Nonetheless, the exterior and parlor floor have charm galore and the garden apartment generates $2,200 a month….
Here’s a nice two-family in Park Slope for under $3 million. Then again, the Queen Anne house is smaller than your average brownstone so the asking price of $2,650,000 only gets you 2,910 square feet of living space. Nonetheless, the exterior and parlor floor have charm galore and the garden apartment generates $2,200 a month. There was an open house yesterday. Anyone make it?
64 Prospect Place [Corcoran] GMAP P*Shark
Why has every authority figure in US finance stepped forward to publicly announce we’re facing the biggest crisis since the Depression? Because, presto change-o, in ten minutes everything will be back to normal? Because Ben Bernanke opens up the Term Auction Facility? Are you alive? They know the score: insolvency. Buy a nice house now, for 2 and change, that’s your prerogative, certainly, but I’d be investing in non-dollar assets and reducing debt with both hands.
(But who cares. You’re friend is putting in an offer. Full ask, no doubt.)
2:51 I assume that the doubling and tripling of values in the last 5 years is the “normal” state of affairs. Get real!
Can you tell me why you think you’ll be able to get this place for high six figures in 2 years, when even homes in assraped places like las vegas and tampa are still selling properties for 2 and 3 million.
you think because the economy slides that all of the sudden, some of the nicest housing stock just goes down 50%?
doesn’t work like that.
the worst case scenario is a 7% drop in prices in NYC metro.
not 70%.
Lehman down 35%. Party’s over. Buy this (or like it) for high six figures in two years.
wow only $13,000 per month for a mortgage with 20% down and 2,200 in income, great deal.
1/4 of this place rents for $2200 a month.
That means the fair value of this place should have a carrying cost of no more than $10,000 a month. (4 x 2200)
Once you factor in interest, taxes, heat and upkeep — the fair value of this place is around $1.1 million. (8% interest, w/ deduction)
People wake up. You can’t count on short-term appreciation any more.
2:37…
How many of those live in Brooklyn??
2?
3?
Won’t help with offers in Montclair or Greenwich, that’s for sure.
Question for the garden apartment renters out there:
In this place, someone is going to have to walk through your apartment once/mnth to read the meters in the celler (no other access). Are you cool with that? Should the landlords charge less?
My entire building of 1 bedroom apts. a couple blocks from here each rent for over 2K per month.
3 for 2500K.