Sunday, September 14, 2008

The Hunt: BoogieDowner Breakdown

This week's New York Times "Hunt" article describes the rather uneventful real estate search of a couple, Becky and Charlie Williamson, originally from Virginia Beach. I don't think that I'll even be able to insert any snarkiness into this BoogieDowner Breakdown because, just judging by their names, they sound like the nicest people ever.

Anyway, back to business. Hunt Honey Joyce Cohen details Becky and Charlie's search for a 2 bedroom co-op in Brooklyn in the low $400,000's price range after they realized they had a nice chunk of change for a down payment assembled from wedding gifts. (By the way, if they put the usual 20% required for a co-op down payment, they'd be looking at a hit somewhere around $80,000... Dang - they must have some uber-generous relatives! Thanks a lot for that $25 check for our wedding Aunt Sophie. It really worked wonders in getting our foot in the door in the NYC real estate game.)

Becky and Charlie fell in love with a 2 bedroom co-op in Clinton Hill that was listed at $449,000 and had a crappy kitchen that would need a $15,000 renovation. They offered $415,000, which didn't fly with the seller and they went no further in the negotiations. After seeing a few other places, they found themselves again courting the same Clinton Hill building which had previously rebuffed their advances. This time it was another 2 bedroom directly above the original one they had looked at listing for the same price ($449,000), except this one had a finished kitchen. They snatched it up for $430,000. Congratulations Becky and Charlie!

Of course, since we are the BoogieDowner, we must compare what these hunters would have found around their price point had they looked in the real estate hotness that is The Bronx:

Becky and Charlie could have had some sweet Virginia Beach-style bbq's in the beautiful backyard of this semi-detached, 3 bedroom house in Pelham Bay for the same exact price they paid for a 2 bedroom co-op in Brooklyn. Full listing here.

For $100,000 LESS than they paid in Brooklyn, Becky and Charlie could have moved into this new construction luxury 2 bedroom condo in the Pelham Bay section of the Bronx. This baby has it all: stainless steel appliances, granite counter tops, a balcony, hardwood floors, and even a fitness center on site. Only in the Bronx can you get nearly 1,000 square feet of new construction bliss for $330,000. Oh yeah, did I mention the 9 year tax abatement? Boo yeah- Take that Clinton Hill! Full listing here.

For almost $200,000 LESS than they paid in Brooklyn, Becky and Charlie could have bought this 2 bedroom co-op in a super cute art deco building near Yankee Stadium. Not a lot of bells and whistles in this place, but come on... it's 2 bedrooms and only listing at $244,900. Only in the Bronx kids, only in the Bronx. Full listing here.

*Hunt photo courtesy of Kate Glicksberg/NY Times*


No comments: