Do a backyard and separate sleeping area make this Greenpoint "studio" worth more than $1 million?
As the weather slowly warms up for the summer season, plenty of New Yorkers are starting to covet apartments with precious outdoor space, the better to spend the summer grilling with friends in the comfort of your own yard. But would the promise of the great outdoors entice you to spend well above typical neighborhood prices for this duplex studio in Greenpoint?
Though it's listed as a studio with a description that hints at a fluid bedroom breakdown, this 1,353-square-foot unit with an unusual layout is spacious, and includes an eat-in kitchen, separate sleeping area, a full living room, and the aforementioned backyard. It's a ground-floor unit, however, which means that unless you're in the backyard, you may find yourself short on natural light. On the flip side, the gas fireplace in the living room could make things quite cozy once winter rolls around.
The kitchen seems to have been recently renovated and equipped with new appliances, and the sleeping area includes quite a bit of built-in closet space. The listing notes that the unit is currently being used as a three-bedroom, meaning there's some flexibility in how you could configure the layout, though we're having a hard time imagining how one would comfortably squeeze two extra bedrooms into the setup.
The design of the bathroom is fairly bland, but unlike many studios on the market, it's got a sizeable tub and shower:
And then there's the backyard, which has a wooden deck, stone pathway, and covered seating area:
Other amenities include an in-unit laundry room (with a sink), as well as a shared building roof deck, if you get tired of the backyard and prefer skyline views instead. At $1.095 million, the asking price is certainly ambitious, and puts the pricing well above the cost of most one-bedrooms in the neighborhood. (There don't even appear to be other studios currently for sale, which makes it a bit tricky to find comps.)
According to records on StreetEasy, this is also a significant price jump from its last sale price of $499,000 in 2011, though it does appear that the current owners made improvements to the bedroom and the backyard.
You also have to be okay with commuting via the G train (the apartment is a couple of blocks from the Greenpoint Avenue stop), or via the East River ferry, which docks nearby. On the flip side, prices in the area are likely to rise once the Greenpoint Landing project is up and running, and the building has a tax abatement through 2026, which means nearly a decade of guaranteed low monthlies.
If all that still sounds like too much, well, you can always spend the summer inviting yourself over to the apartments of your friends who have backyards, instead.
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