Co-op of the Day: 96 Schermerhorn Street, #7G
This studio at 96 Schermerhorn Street in Brooklyn Heights is only 505 square feet, but the owners, and architects, have managed to pack in quite a bit of stuff through a system of custom cabinets and sleeping platforms. It’s very attractively done, but it’s hard to imagine someone with a small child electing to make…
This studio at 96 Schermerhorn Street in Brooklyn Heights is only 505 square feet, but the owners, and architects, have managed to pack in quite a bit of stuff through a system of custom cabinets and sleeping platforms. It’s very attractively done, but it’s hard to imagine someone with a small child electing to make this place their home. After all, having your toddler asleep behind a curtain while you try to watch TV just a few feet away seems suboptimal to us. Seems more likely that this sells to a bachelor who converts the crib alcove into guest crash-pad. The maintenance is $877 and the asking price is $340,000.
96 Schermerhorn [FSBO] GMAP P*Shark
What an exquisitely designed deathtrap that shelf/step is.
Mr. B, I’ve got to pick a bone with you about the way you write up some of the COTDs. “…it’s hard to imagine someone with a small child electing to make this place their home.” REALLY? NO!!! Seriously, who in their right mind, or even out of their minds, would look at a small 505 sqft studio if they had a kid? I’ve got two cats (and wouldn’t have kids if you paid me) and wouldn’t even consider it. The whole thing about being kid friendly wasn’t worth the space it took to say that.
This was in one of the shelter mags a few years ago. It’s extremely well designed, and I’d think that will command a premium.
Here’s where the rent v. buy logic breaks down: most (not all, but most) rental apartments are crap on the inside, and they’ll always be crap because no sane landlord would invest in design like this. And no sane renter is going to drop 50k to renovate a studio that they don’t own.
So 1/3 of a million dollars to have to climb up on the countertop then scale up some crooked bookshelves to get to the bedroom area that doesn’t appear tall enough to stand up in. Have people really lost their freaking minds? Florida pricing can’t get here soon enough so people can spend 1/3 of a million and actually have someplace livable. This is a child’s playhouse for the price of a mcmansion. Geez.
“How much do you think you will need to spend to buy this place?”
$2,000-$3,000, depending on your lawyer’s fee.
given the crap we’ve seen recently, no basis to say buying is better than renting from a pure financial perspective. no way no how. now if prices drop a lot, we can revisit that later. currently, buying is an emotion preference over renting vs it being a financially better decision.
Boerum — How much do you think you will need to spend to buy this place? $50? Or don’t you use an attorney or other experts to represent you in the purchase of $1/3 million piece of property?
(And 11217 is spot on — the maintenance / monthlies are not going to stay the same forever)
Ridiculous.
So your point is you understand as little about closing costs as you do amortization tables?