Co-op of the Day: 415 Argyle Road
We’ll be honest: The reason this listing at 415 Argyle Road grabbed our attention was the interior decoration. That living room. Wow. Then we started to take a look at the numbers: Two beds, two baths, 1,250 square feet, $1,155 maintenance, $485,000 asking price. Then we realized that we’d recently tapped another unit in this…
We’ll be honest: The reason this listing at 415 Argyle Road grabbed our attention was the interior decoration. That living room. Wow. Then we started to take a look at the numbers: Two beds, two baths, 1,250 square feet, $1,155 maintenance, $485,000 asking price. Then we realized that we’d recently tapped another unit in this building: Apartment 3J which was 1,000 square feet and asking $379,000. So how do you think this one stacks up? It would be helpful to have a floorplan.
415 Argyle Road [Abacus] GMAP P*Shark
At that price (or what I appraised it for) the maintenance is approaching the mortgage payment!! How can someone looking in that price range, even the list price range, afford that kind of maintenance fee?
SnarkSlope, I think we are dealing with some highly creative measuring here. I know the building. There is no way on earth that 2M would be 1,400 sq. feet and this one – 1,250. The duplexes are much larger than the regular 2 bdrs. The dining room is a size of a decent 3rd bedroom.
I live in a building that was built and later converted to coops by the same people as 415 Argyle; there are a few of them in the neighborhood. I also have a duplex. Another reason the maintenance is so high, is that they had allocated more shares to duplexes. My maintenance is double of what people in 1-bedrooms pay in our building.
I wonder if those 3D plans were done by the original builder. When I bought my apartment, I also got a 3D drawing, in a similar style…and the kitchen wasn’t situated quite where it was on the plan. Oops.
You;re right, Dutchman, Stairs are definitely Escher-esque.
Oh lookie, here’s a unit in the same building that is large, cheaper and has a much lower maintenance:
– http://www.streeteasy.com/nyc/sale/161650-coop-415-argyle-road-kensington-brooklyn
This one needs to shed at least 100k.
Just curious if I am mistaken but on the 3D drawing are the stairs on the lower and upper level connecting in the right way? Had my little Escher moment here….
I think the duplex layout and the balcony distinguish it from a lot of post wars – not just in the neighborhood, but in Brooklyn. Is this the bldg with the pool? Maintenance does seem high.
Wow, I could have a blast re-visioning that furniture and keeping it all. Some of those pieces ARE mid-century modern, you sillies.
Pprtchop Why the concern? A lot of these rental buildings that converted to coops are being sold that way as the rental tenants move out. It is not necessarily a bad thing. And as more residents become shareholders, they control board/budget. That said, there is likely to be a minimal reserve fund — maybe why the maintenance is hihg — they are trying to build it up or pay for capital expenditures from maintenance.
Are those Zarin Fabrics?
I seen a few apartments in this building. Overall, I like the look of this building and its location right off Cortelyou Road. Most of the apartments I’ve seen had very good layouts as well as light.
However, I remember a realtor mentioning to me that the sponsor had sold more than 75% of his units (10% down with NO Board approval) at 415 Argyle in the past five years. I have no idea if this is true. But, THAT would concern me, given current economic times.