Brooklyn Real Estate Q&A and Info

I had the opportunity to show two really great apartments to a client, a wonderful women who’s company I enjoy, that are for sale at Willoughby Walk Coops in Clinton Hill Brooklyn. 

I like the complex and the apartments so much that it has prompted me to write this little update about the coop.

Pros:

The lobbies in the coop are very well maintained, the hallways are beautifully carpeted and painted, and the elevators seem like new.  The laundry room is spacious, clean and has a good number of washers and dryers of various sizes.  Add 24 hour security, good financials and location, location, location, and Willougby Walk falls at the top of my list of the best places to live in Brooklyn.  You can get a great 1 Bedroom for between $250,000 to $300,000.   Maintenance payments are typical for Clinton Hill, which is between $600 and $700 a month.

Cons:

Like most things in life, there are cons, but they are not deal breakers in my opinion.  The main con I can think of is that the kitchens tend to be on the small side, but if you’re not much as of cook, that’s probably irrelevant.  The other con is that most apartments have no designated dining are to speak of.  If you don’t usually have a lot of sit down family meals, that’s not much of a con either.

Wrap-up:

Over all, I like Willoughby Walk Coops a lot.  If you’re looking to move to Brooklyn and want to live in Clinton Hill, a neighborhood I also like a lot, then the Willoughby Walk Coop is a great place to consider. For more information about the coop and its amenities, click here!

Want to see an apartment or two. Give me a call or send and email me.

If you are looking for a place to live that has all the conveniences like easy access to major subway lines and bus routes, eateries galore, and lots of shopping, then the Philip Howard Apartments are an ideal place for you to live.

Standing tall at 1655 Flatbush Avenue just steps away from the now vibrant Triangle Junction Mall, the Philip Howard Apartments has 640 units and some of the most fantastic panoramic views you’ll find anywhere in Brooklyn.

Getting into Manhattan from the Philip Howard Apartments couldn’t be easier. It’s a 5-minute walk to the #2 and #5 trains Flatbush Avenue Station, and since it’s the end of the line for both of those train lines, you’ll always get a seat on your way to work.

If you are planning on attending Brooklyn College and you would like to live off campus, this coop is ideal. Its well within walking distance of Brooklyn College.

The coop is very affordable. At the time of this writing, a 1 bedroom can be purchased for about $190,000 and a 2 bedroom for about $230,000. The maintenance charges for this coop is reasonable and includes everything except electricity.

Besides location, here are some of the other great features of the Philip Howard Cooperative Apartments.

1. Fantastic Parquet Floors
2. Some Apartments have terraces.
3. Parking Garage
4. Full Time Doorman
5. Fitness Room
6. Beauty Salon
7. Laundry Facilities
8. A Playground for the kids
9. Management Onsite

Philip Howard is a wonderful coop in a fantastic location. If you’d like to find out more about the coop or the properties available for sale, please feel free to give me a call at 917-544-2662 or click here to send me an email.

Yesterday, I had the privilege of attending the Council of New York Cooperatives and Condominiums 28th Annual Housing Conference and I really enjoyed myself. The conference was held at Baruch College’s Newman Vertical Campus, a wonderfully designed building, and included 74 different workshops and seminars.

As a member of the board of directors of the Coop where I live, the conference was a great way for me to increase my knowledge so I can help steer the coop’s course successfully through these difficult economic times. There where seminars about the responsibilities of the Board President, the Treasurer, the Secretary, enforcing the house rules, budgeting and so much more.

I highly recommend anyone who sits on the board of a coop or condo to take advantage of this wonderful educational opportunity. Its well worth your time, and your coop or condo will probably pay the modest $70.00 admission fee.

The Housing Conference also helped me gain even more knowledge about coops and condos so that I can better help any of my clients looking to purchase or sell one. After all, the key to being an expert in real estate agent, coop management, or any other profession is having as much knowledge as possible.

For more information about the Council of New York Cooperatives and Condominiums click here to go to their website.

Fort Greene Brooklyn has a number of spectacular places to live, but none outshines University Towers Cooperative Apartments.  The co-ops complex consists of three sixteen-story apartment buildings located at 122 Ashland Place, 191 Willoughby Street, and 175 Willoughby Street. 

One of the things that I’ve found most impressive about the complex is the 5 1/2 acres of beautifully manicured lawns and stately trees that are accented by a charming gazebo.

The apartments are quite spacious with wood flooring and large windows that let in a lot light.  Take a look at the many amenities that the co-op provides, and you’ll see why University Towers is a great choice for fine living in Fort Greene.

1. 549 Apartments
2. Huge cash reserves of 6 million dollars (in 10/08)
3. 75% Owner Occupied
4. Hardwood Floors
5. Laundry facilities in the building
6. 24 Hour Security
7. Fitness Room
8. Onsite Parking Available
9. Playground
10. Barbeque Pits for residents use
11. Two blocks from the Dekalb Avenue Station
12. 5 minutes to Metrotech, Polytechnic and Long Island University

With prices that are still are very reasonable for Fort Greene (a 1 Bedroom/ 1 Bath apartment was selling for $473,000 in 10/08), University Towers is a great place to get a good bang for your buck and still enjoy high-end amenities.

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If you would like to find out more about the apartments for sale in University Towers, please give me a call at 917-544-2662 or 718-338-3380 or click here to email me.

I was asked by a fellow shareholder at the co-op where I live if its worth the money to get an co-op insurance policy. My answer to the question is a resounding yes!

Many shareholders are under the impression that the co-op corporation’s insurance policy should be all the insurance that they need. So, what does the co-op’s master insurance policy cover? Typically, it covers any liabilities that occur in the common areas of the co-op. For example, if some one slips in the hallway outside your apartment, the co-op’s insurance policy would cover any bodily injury that occurs. However, if that same person slips and falls in your unit, the co-ops insurance does not cover any liability, you would be responsible.

A co-op insurance policy will cover any losses to your unit as a result of a burglary, if fire damage ruins the walls in your apartment, or if someone is injured when he trips and falls over an object in your living room.

Protect yourself and your belongings and get a co-op insurance policy (if you’re a renter, you should have a renters policy). They’re not that costly. I personally pay about $300 a year for $50,000 worth of coverage. Better safe then sorry.

Mitchell-Lama is a program that was developed back in 1955 to create affordable housing for moderate and middle income families.  There are 101 Mitchell-Lama developments in New York City with close to 46,000 affordable cooperative and rental apartments.

A Mitchell-Lama development is either sponsored by the City of New York or the State of New York and may be Federally subsidized.   Whether a development is Federally funded or not, they all have eligibility requirements based on income, family size and the number of people that can occupy an apartment based on the number of bedrooms. 

Mitchell-Lama Cooperatives have a Board of Directors like a typical co-op, however, the New York City Department of Housing Preservation and Development (HPD) has oversight over management issues and waiting lists.

To obtain one of these apartments, you have to put in an application, which then goes on a Waiting List.  Depending on the desirability and location of the development, and the size of the apartment you want, the waiting list can be several years long.   If you interested in obtaining an apartment in several different developments, you’ll have to fill out an application for each.  For more details on applying for a Mitchell-Lama Co-op, go to HPD’s website.

If you’re looking to make your first apartment purchase, but you’re finding most cooperatives to be out of your price range, a Mitchell-Lama Co-op might be a great alternative for you.  Here is a list of developments in Brooklyn that have open waiting list at the time of this writing.

BENSONHURST

Contello Towers 2
2740 Cropsey Avenue,
Brooklyn, NY 11214
321 Apartments
1, 2 and 3 Bedrooms Available

CLINTON HILL

Atlantic Terminal 1
161 South Elliot Place
Brooklyn, NY 11217
200 Apartments
Studios, 1, 2 and 3 Bedrooms Available

Atlantic Terminal 2
415 Carlton Avenue,
Brooklyn, NY 11238
304 Apartments
Studios, 1, 2 and 3 Bedrooms Availalbe

Ryerson Towers
309 Lafayette AVenue
Brooklyn, NY 11238
326 Apartments
1, 2 and 3 Bedrooms Available

CONEY ISLAND

Sam Burt Houses
2675 West 36th Street
Brooklyn, NY 11224
146 Apartments
1, 2 and 3 Bedroom Available

CROWN HEIGHTS

1185 Carroll Street,
Brooklyn, NY 11225
238 Apartments
1, 2 and 3 Bedrooms Available

SHEEPSHEAD BAY

Kings Bay 1
2520 Batchelder Street
Brooklyn, NY 11235
538 Apartments
Studios, 1, 2 and 3 Bedrooms

Kings Bay 2
2533 Batchelder Street
Brooklyn, NY 11235
356 Apartments
Studios, 1, 2 and 3 Bedrooms

WILLIAMSBURG

114 North 5th Street,
Brooklyn, NY 11211
41 Apartments
1, 2 and 3 Bedrooms

If you would like to find out more about Mitchell-Lama Cooperatives, please give me a call at 917-544-2662 or 718-338-3380 or click here to email me.

Happy Mitchell-Lama Cooperative hunting,

The first thing you’ll notice about Kings Village and the Old Mill Basin section of Brooklyn, is how peaceful it is.  The Kings Village Co-op is situated in the middle of a quiet residential area, with abundant trees and manicured lawns.  The co-op consists of 5 buildings between Avenue I and J.

Getting into Manhattan from Kings Village is simple. Hop on a number 46 Limited Bus which runs along Utica Avenue, and you’ll quickly find yourself at the Crown Heights/Utica Avenue Station on the number 4 Line, which is only 5 stations away from lower Manhattan.   You can also catch the number 6 Bus at Avenue H and take a 10 minute ride to the number 2 or 5 Trains.

Kings Village is affordable.  Studio apartments sell for around $115,000, 1 bedrooms for around $170,000, 2 Bedrooms for $255,00 and 3 Bedroom Apartments for only 325,000.  Here are some the other great features of the Kings Village Co-op:

1. Maintenance includes everything except electricity.
2. Newly Renovated Lobbies, hallways and elevators
3. Large windows, some have unobstructed Manhattan views.
4. Beautiful wood Floors. 
5. Private Security On Site
6. Some apartments have terraces.
7. Ample Closets.
8. Storage is available at an additional cost.
9. Parking available at an additional cost.
10. Kings Plaza, the New AVIATOR Sport Center, beaches and horseback riding, and hiking trails only minutes away. 

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If you looking to purchase an apartment that is affordable in a picturesque setting, then King Village Co-op may be what your looking for. For more information, give me a call at 917-544-2662 or Click Here.

If you’re looking for a place to live while you attend school at Pratt Institute’s Brooklyn Campus, or you simply love the Clinton Hill area, then Willoughby Walk Co-op Apartments is a great place for you to consider purchasing an apartment. 

Tall and majestic, this co-op has terraces that let you enjoy the great out of doors without leaving your apartment (technically), and breathtaking Manhattan views that rival any postcard.  Here is a list of the other great features that makes Willoughby Walk an ideal place to call home:

1. 100% owner occupied.
2. Only 10% down required by the co-op!
3. Large windows bring a lot of light into the apartments.
4. This is a gated community with 24-Hour Security.
5. The Co-op is Pet Friendly.  Dogs and Cats are welcome.
6. Some apartments have terraces.
7. Some apartments have picture postcard Manhattan views.
8. The Co-op has great Financials and cash reserves.
9. Brand new laundry facilities on campus.
10. Storage is available.
11. Steps away from The Pratt Institute’s Brooklyn Campus and St Josephs College.
12. Fort Greene Park, Myrtle and Dekalb Avenues are also steps away.  Both streets are lined with marvelous shops and restaurants. 

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Apartments in this co-op do not become available often, so when one does, its an event not to be missed. If you’re interested in finding out about apartments for sale at Willoughby Walk Co-ops, give me a call at 917-544-2662 or Click Here.