Co-op of the Day: Eastern Parkway Two Bedroom
We’re not sure which building it is exactly, but this two-bedroom co-op is in one of the nice old prewar ones across from the Brooklyn Museum on Eastern Parkway. We’re digging the old floors, beamed ceiling and large windows and have to think this is pretty reasonably priced at $595,000. The eat-in kitchen and doormen…
We’re not sure which building it is exactly, but this two-bedroom co-op is in one of the nice old prewar ones across from the Brooklyn Museum on Eastern Parkway. We’re digging the old floors, beamed ceiling and large windows and have to think this is pretty reasonably priced at $595,000. The eat-in kitchen and doormen are added bonuses as well. Do you think this will move quickly? Anyone know the exact address?
Eastern Parkway Co-op [Brown Harris Stevens]
874, phew
oops. i think i meant f. murray abraham …
Didn’t F. Murray Abraham live there once, too — or was that another building on Eastern Pkwy?
The “flip tax” is a hurdle that the mind has to get over. At Turner Towers it is based on the profit of sale minus any improvement costs and brokers commissions. You only pay if you make a profit unlike some other places where it is based on a cost per share. TT made lots of money in recent years and it went towards its exterior renovation. It is great to collect the money while you live there but it does hurt when you move out. At least you will not be an original purchaser from the 80’s and have to pay 25% on the profit of the unit you bouth for $5,000! That hurts.
The building has a gym, bike storage, storage units and a playroom. GReat building great staff and people. Unit 2J should sell closer to 500,000. I believe 12D is also on the market with a similar layout.
lol. as did ben kingsley. so not only does it make the property worth more than gold, but it’s got good karma as well.
Howard Cosell used to reside in the Turner Towers. That alone makes this property worth more than gold.
And see below for a sale in Turner Towers — 1 BR for $425K (also Susan Breen). And in addition to that high flip tax, the fact that maintenance is only 23% tax-deductible is a downer, too! Still, this place doesn’t look bad and I don’t disagree with the idea of making a co-op not especially attractive to investors/speculators (nor do many people), and full-service buildings always have high maintenance; it seems strange that other units have sold in the building while this one hasn’t.
if it wasn’t for the flip tax at turner towers, major pieces of the restoration of the building would never have been possible. while it is clearly excessive (in my opinion), it is very much in the spirit of a “cooperative apartment building.” plus, it serves to make one to think twice before buying in, and, as well, to think twice before cashing out. which leads to a more stable building in the long term.
interestingly, apt. 9J in turner towers is in contract for $695K (according to Susan Breen’s website).
that apartment was originally listed for $720K i believe.
the views from 9J are far superior to 2J, which are, well, pretty much nothing. goes to show what views are worth.