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Category — Brooklyn Co-op Apartments

Park Slope Duplex 2-Bedroom Co-op Sells for $631K

A 950 sq. ft. two bedroom duplex co-op apartment at 414 7th Avenue in the South Slope just sold for $631,000, approximately 10% less than the apartment’s original $699,000 asking price when it was first put on the market in January 2009.

A couple of things stand out about this Park Slope co-op. First, there is a 500 sq. ft. backyard garden for the owners. It’s accessible from the upper and garden floor of the duplex, a nice convenience. You can roll out of the master bedroom on the lower floor and take your mug of coffee out back to read the paper in the morning.

This co-op also has a washer and dryer in a separate laundry and storage room, a terrific convenience that many Manhattan cooperatives prohibit.

The buyers are newlywed couple Julia Stone and Kari Timonen. Stone works in the fashion industry as a Vice President at gown and dressmaker REDUX Charles Chang-Lima. Previously, she worked at Vera Wang and Saks Fifth Avenue. Finnish native Timonen is the anti-moneylaundering Compliance Manager and North American Operations Manager for The Change Group, a London-based global foreign currency exchange business.

The seller was Christopher J. “Chris” Carolan. Christopher is a bankruptcy and finance lawyer at Brown Rudnick in Manhattan.

Chris Carolan sold the co-op at a loss, having paid $680,000 for it in 2005 during a flush real estate market.

One convenient aspect of living in this storefront walk-up is having a dentist in the building. Jack Irwin has had a dental office at 414 7th Avenue in Park Slope for more than 20 years, according to New York City records. If shareholders have a toothache that needs fixing, the can just pop into Irwin’s office for a quick look.

Corcoran agents Tim Stanard and Jonny Ribeiro had the exclusive for this apartment. The offering price was reduced to $649,000 during the time it was on the market.

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January 17, 2010   1 Comment