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Choosing b/w 2 apts in brooklyn heights

Started by Rent_or_Buy
almost 9 years ago
Posts: 165
Member since: Feb 2009
Discussion about
Not much inventory in the 3bedroom under 3million range in Brooklyn Heights. I am choosing between these 2 - appreciate advice http://streeteasy.com/building/187-hicks-street-brooklyn/6d http://streeteasy.com/building/pumphouse-mews/5
Response by new2RE
almost 9 years ago
Posts: 145
Member since: Feb 2009

No question I would opt for hicks street. Location right next to BQE is less than desirable. The apt also appears to be very dark

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Response by Rent_or_Buy
almost 9 years ago
Posts: 165
Member since: Feb 2009

Agreed new2RE but there is price differential and size differential -

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Response by 300_mercer
almost 9 years ago
Posts: 10570
Member since: Feb 2007

The second one seems to be seriously compromised on light and distance to transportation.

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Response by streetsmart
almost 9 years ago
Posts: 883
Member since: Apr 2009

The Hicks Street apt. has a higher maintenance in addition to a higher price than the other apt. even though the Hicks St. building has 29 units compared to 6 units in the other building. I would want to know what is causing such a high maintenance. When buying a property one has to be familiar with the financials and also the underlying mortgage, what is the interest rate, when will it reset, how many units are sponsored owned. I once lived in a six unit building and I liked the feel,of it better than a larger building. The 29 unit building has a part time doorman.
So which one would I choose. I wouldn't choose any before seeing the pertinent information.

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Response by alexikeguchi
almost 9 years ago
Posts: 38
Member since: Apr 2012

The market seems to place more value on 187 Hicks based on prior sales, but that doesn't necessarily mean it's the right answer for your needs. If you favor space and layout, 25 Joralemon is superior, though having secondary bedrooms on a different floor might be a challenge if your children are very young. If location or pre-war charm is more important, then 187 Hicks is a better fit. I have walked by both buildings numerous times but haven't been inside either, so I can't really contribute more than the above. Best of luck!

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Response by amuhle
almost 9 years ago
Posts: 2
Member since: Mar 2013

There are two ways to enter Brooklyn Bridge Park: Old Fulton Street and Joralemon Street. The Joralemon apartment is on the block with the park entrance and the neighbors have encountered serious issues with noise, kids, crime and visitors in the afternoon and night. Check the Brooklyn Heights Blog for stories. In my opinion, it is a game changer.

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Response by hudsonhome
almost 9 years ago
Posts: 46
Member since: Feb 2014

Agreed with new2RE. Hicks St. is a classic/gracious layout. Noise and proximity to BQE is a deal-breaker for me. Won't even consider it as an option if spending above 2M.

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Response by hudsonhome
almost 9 years ago
Posts: 46
Member since: Feb 2014

Hicks St. has south-facing windows whereas second-option has north-facing windows (and rooms with no windows) on lower level (as far as I can tell). These are also real deal-breakers for me. If you can afford an 2M+ apartment, buy one that you will be happy living in for the long term.

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Response by RiddhiBman
almost 9 years ago
Posts: 112
Member since: May 2015

Since you already got all of this free advice on which one to choose, have you considered getting a broker commission rebate? You'd cover your Mansion Tax. It's something to think about and not small change at this price point. I recommend checking out Hauseit or another reputable rebate/FSBO platform in NYC.

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Response by alexikeguchi
almost 9 years ago
Posts: 38
Member since: Apr 2012

http://streeteasy.com/building/the-breukelen/11c
Have you already checked out this one? It seems to have a lot of space and prime location but has not moved as quickly as typical listings in this category. Is there some issue that's not readily apparent? Maintenance is certainly higher than the other listings you referenced but not out of keeping with a full time doorman and decent amenities.

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Response by streetsmart
almost 9 years ago
Posts: 883
Member since: Apr 2009

As a mortgage broker I'd be happy to help you get financing. Right now rates have gone down somewhat these past two weeks. But one doesn't know how long that can last. As a realtor, I give a generous buyer broker rebate. There are no fees to apply for a loan.
Ellen Silverman
E. S. Funding Co.
Licensed Mortgage since 1990
NMLS# 60631
Licensed Real Estate Broker

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