Rental of the Day: 135 Ocean Parkway
We’re totally into this one bedroom at the co-op building Caton Towers in Kensington. Plenty of space and light, a cute little kitchen, and dark hardwood floors. The whole package, especially in a full-service, doorman building, is nice indeed. Thoughts on the $1,650 rent? Doesn’t seem crazy to us. Update: this was a Co-Op of…
We’re totally into this one bedroom at the co-op building Caton Towers in Kensington. Plenty of space and light, a cute little kitchen, and dark hardwood floors. The whole package, especially in a full-service, doorman building, is nice indeed. Thoughts on the $1,650 rent? Doesn’t seem crazy to us. Update: this was a Co-Op of the Day in January, asking $280,000.
135 Ocean Parkway [Halstead] GMAP P*Shark
This is $400 more than my apartment…. basically the same layout/size and I have a dishwasher. I don’t have a doorman, but my super accepts packages. And I live, arguably, on a much more desirable block.
280k/1650 = 14x annual rent. Prices still outta wack but we’re making progress from 20x (peak), 16x (recent). ’bout another 30% to fall. I’ll wait.
***Bid half off peak comps***
I guess you’d have to walk to the Church St station which looks closer than the Q.
You can also take the Q at Church Ave, but that’s about a 12 block schlep.
Unfortunately, the F train stop you’re on is one of the stops that closed down on the Manhattan bound side. I’m not sure how that’s effecting rent out there but that would be something to consider.
> you forgot to take into account mortgage and property tax deductions
I just assumed one would consider those and deduct accordingly
> the apartment isn’t worth $270k
You might be right on that. Consider the case of #7E, also currently on the market:
02/07/2005 – Previous Sale recorded for $139,999.
07/29/2008 – Previous Sale recorded for $280,000.
06/30/2010 – Listed by Corcoran at $277,000.
07/13/2010 – Price decreased by 3% to $269,500.
09/14/2010 – Price decreased by 4% to $260,000.
12/01/2010 – Price decreased by 2% to $255,000.
03/03/2011 – Price decreased by 2% to $249,000.
Ditmassnark, you forgot to take into account mortgage and property tax deductions, or, more importantly, that the apartment isn’t worth $270k. You could buy something similar in the area for less.
Thanks DS, put the update in there. And yes, I had my parkways and avenues mixed up earlier there, everything should now be up to snuff!
Emily, I think Freckles is pointing out that the map shows Ocean AVENUE not PARKWAY.