Residential Sales in Brooklyn
EAST WILLIAMSBURG $837,500 855 Grand Street 2-family, 3-story, brick and woodsided house; 1 bedroom, 2 baths, dining room, hardwood floors in each unit; 1,200 square feet of commercial space on first floor; full basement, 22-by-100-ft. lot; taxes $1,952; listed at $875,000, 2 weeks on market. Broker: Kline Realty. PARK SLOPE $680,000 8 Eighth Avenue 2-bedrooom,…
EAST WILLIAMSBURG $837,500
855 Grand Street
2-family, 3-story, brick and woodsided house; 1 bedroom, 2 baths, dining room, hardwood floors in each unit; 1,200 square feet of commercial space on first floor; full basement, 22-by-100-ft. lot; taxes $1,952; listed at $875,000, 2 weeks on market. Broker: Kline Realty.
PARK SLOPE $680,000
8 Eighth Avenue
2-bedrooom, 1-bath, 900-square-foot co-op in a brownstone; dining area, renovated kitchen with granite countertops and bath; high ceilings, oversize windows, hardwood floors, original moldings and detail; washer-dryer in unit; maintenance $625, 62% tax deductible; listed at $675,000 (multiple bids), 4 weeks on market. Broker: Corcoran Group Brooklyn.
From the print edition of yesterday’s New York Times.
In a co-op, residents should be reminded that renovating one unit improves the value of the whole building. In our building, our unit that is for sale is my husband’s longtime bachelor apartment from his youth and it was never renovated. It is the only unit in the building without a new kitchen and refinished floors. He had to live through everyone else renovating their kitchens, so you know what, we’d tell everyone they’d have to tolerate whatever the new owners want to do too! Plus it’s logical co-op owners would want to make potential buyers happy so units can sell more quickly at good prices. So in other words we don’t anticipate a problem for the new owners whoever they will be. If you are thinking about buying a co-op, go ahead and ask the co-op board during your interview process about the renovations you want to do and see how accomodating and understanding they seem to be. Just be honest about how much you want to do to the place, and see how they respond.
Ok, this is the last straw! electrician put 4 family instead of 3 family in his application and it cost us 3 weeks delay so far. We had other delays before that. And who knows what future… and we will have to deal with tenants and neighbor’s complains… I am sure there will be complains even if we will walk on our toetips during renovation. I do not think coop would be easier… Do you think you will not have to deal with your fellow coop members unhappy with your renovation process?
And all the mistakes that contractors make… And the truth that they fix 5 things and break 10 in the process…
I have alwaays thought that I would prefer to renovate instead of buying somebody’s else smart shortcuts.
Now I do not know. What kind of money will compensate the stress of dealing with all of the above?
Well said, I think that most houses on the market (unless they have been vacant before the sale) can be lived in.
I would much rather buy something that is a little worse for wear and fix it to my taste than than be stuck with the choices of neutral renovator. In addition to the kitchens, my bigest pet peeves are renovators who install these 6 inch deep tubs — I mean why have a bath tub if you cannot take a bath in it.
i hate hate hate stainless steel appliances. besides the fact that most of them are just plastic with a stainless steel finish (and so look even cheaper), it’s ridiculous. i mean, did all the contractors/landlords in the city get together and decide that’s what everyone wants? i want a really old kitchen where the enamel is rubbing off the sink and the faucet handles have fallen off and i have turn the water off and on with pliers (which i leave attached to the stripped faucets so as to save time).
but then, i’m renting, so i don’t get to decide, do i.
my question is: when a house for sale says it needs significant renovations, but the person selling it has been living there for years, what standard is being used to determine that it needs to be totally renovated? it’s obviously habitable.
Well I do like new a kitchen and bathrooms. But I MUCH prefer a truly vintage kitchen, too. So the rules should be – if the kitchen dates 1950’s and older leave it alone. Regarding generic kitchens though, 1:01pm, you are so right it’s getting boring to get the standard flipper-kitchen that’s all neutral. When we put in our own kitchen in our new house I’m installing colorful exotic tiles on our backsplash and for our countertop. We’re there to stay for a long while, so I’m putting in what I like! And what I feel like staring at day after day cooking and doing dishes, for many years. Makes sense right?
I hate most modern kitchens. I wish people would stop remodeling them…if I see another example of stainless steel appliances, neutral tile for a backsplash, and either blindingly white or maple cabinetry with those little round inset lights, I will puke.
Why can’t people leave kitchens and bathrooms alone???
I understand what you mean. But I wonder if the “correction” does anything, it might do away with the huge profit a flipper makes on simply putting in a new kitchen. Sure it’s nice to not have the hassle, but frankly if I’m looking to buy and I’m confronted with the option of spending $20K or $100K to have the exact same kitchen, only difference being I install it vs. the seller installs it, then I go for the $20K and the hassle of doing it myself. Think of all the other improvements you can do with the extra money. Or better yet, have a smaller mortgage.
10:51,
You have a point, but there is something to be said about not having your kitchen torn to pieces just after you purchase the place. If you have time and don’t need to move in right away, can do without a kitchen for a little while, and have the time it takes to actually plan the renovations then it is definitely not worth paying more than the cost of the new kitchen.
However, most busy New Yorkers will pay a premium not to go through the work it takes renovating when it is already done for them. Is it worth 100K? I don’t think so, but it is certainly worth more than 20K.
It’s wild to me how buyers will pay over $100K more for a $20K kitchen. We’ve seen 2BR 1BA co-ops in brownstone buildings listed right now for mid-500’s in Park Slope but that don’t have the kitchen renovated. I know it’s an accepted thing in real estate that buyers want a brand new fancy kitchen, but what’s funny to me is I’d much rather do the kitchen myself! Because I’m so picky, and I LIKE picking out the countertops and cabinets and stuff. To me, it’s a thrill and it was the upside not the downside to the house we just bought. Am I the only one who is like that?