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Court Street Lofts -- How much can I expect to get off asking?

Started by anonymous
about 19 years ago
Posts: 8501
Member since: Feb 2006
I"ve noticed that the prices are tending down in the last year, and Court St Loft are no exception. What can I expect to negotiate off of asking? 10%? 15%? How is the relationship between owners and renters? We're thinking of buying.
Response by zorki
about 19 years ago
Posts: 10
Member since: Feb 2007

There's been a lot of talk of bad maintenance by the building's management (heating, rats etc) I think on brownstoner.com or curbed.com BTW prices in Brooklyn are super hot and we missed out a few times before snagging something. The fact that you can take your time with Court St Lofts should be an indication that people are not exactly rushing to buy there. The market is completely different this spring.

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Response by anonymous
about 19 years ago
Posts: 8501
Member since: Feb 2006

Even if the prices come down, the layouts in the bldg are still terrible and the finishes are poor.

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Response by anonymous
about 19 years ago
Posts: 8501
Member since: Feb 2006

Prices depend on what size unit you are buying. The one bedrooms and studios I think are all sold, most for right around asking it seems. The larger units probalby have more slack in the price to negotiate, but 10 or 15 percent sounds like too much. By the way, I think the layouts in the bldg are great and the probs people talk about are history. I'm keeping my eye out for when one of the 1 beds comes back on the market.

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Response by anonymous
about 19 years ago
Posts: 8501
Member since: Feb 2006

#3, What's with the name calling? Does that make you feel better? Do you know what it makes you sound like? This site is for sharing info, not insults. Lay off & grow up!

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Response by DRobbins11
about 19 years ago
Posts: 1
Member since: Mar 2007

One of the other issues with this bldg is that its at the end of its tax abatement, so the monthly tax is much higher than any of the newer bldgs. As well, the maintenance tends to be higher because a full third of the bldg are still rental tenants, for whom the owners must pick up the slack. The PPSF is on par or higher than some of the newer bldgs in BK. I've been seeing that I can afford $60-$70K more in other bldgs because of the higher tax and maintenance.

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Response by anonymous
about 19 years ago
Posts: 4
Member since: Apr 2007

Does anyone know about the asbestos and the lead problem at 505 court street- they do not allow to do independent inspections.

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Response by anonymous99
over 14 years ago
Posts: 1
Member since: Jun 2011

Does anyone know if the problems at 505 Court Street from a few years ago have been resolved?

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