Before we moved to Bushwick, we looked at a couple of coops at Cornelia and Wilson, in South Bushwick. The price was irresistible: $180,000 to $210,000 for one- and two-bedroom apartments in a great old brick building. The units needed a lot of work, but at that price, we could afford a modest construction loan. As we were about to decide on getting a two-bedroom unit, the house we had made a bid on months before came back on the market and we went with that. Since then I have been trying to steer friends who, like me, wanted to buy something and also like me, aren’t millionaires or trust-funders, to 246 Cornelia and agent Carroll Burke.
The story of 246 Cornelia stands alone in Bushwick’s recent history. As the neighborhood crumbled around them, and their landlord walked away, the residents decided that rather than become victims of circumstances, they were going to band together to form a cooperative association — and become property owners. Today, as rent hikes sweep Bushwick, the owners on Cornelia cackle all the way to retirement in their home states in the South.
A resident there told me that she loves living there and that “everyone knows everyone else,” though she expressed dismay that native Bushwickers aren’t buying in the building.
Carroll let me know that she has two units currently available (it was three when I started getting info for this post): two one-bedroom apartments, each for $185,000. They’re about 700sqft — that’s just over $260 per square foot, about half what the Thing on Grove is going for. Even if you go nuts with renovations, you get much more for your money than any condo. $256/month maintenance includes taxes. A row of storefronts on Wilson is owned by the coop, potentially a large source of association revenue.
Original details abound in the building and the apartments — moldings, wood floors, old iron tubs, high ceilings. The lobby floor is a spectacular example of period terrazzo, and marble was used with abandon on all of the stairs.
It’s about a ten-minute walk to the Myrtle-Wyckoff L/M, though a bus that stops outside the building goes straight there in the morning.
A better investment — for owner-occupants only, of course — can’t be found in Brooklyn. Agent Carroll Burke can be reached at 631-274-9088.
jay September 4th, 2007 at 1:29 pm
i remember seeing this listing and thinking the lobby looked nice. i don’t recall the low price, but the floors and tub look great. so it needs some new tile work..
i think the 10 min walk (translated into maybe 8 blocks?) would scare some people off.
anyone ever visit any open houses, or have anything to compare to this $260/sf deal.
Jimmy Legs September 4th, 2007 at 3:32 pm
that’ a great story. but is this really the only coop in the neighborhood? not sure how to research this further.
Jeremy September 4th, 2007 at 4:05 pm
I’m pretty sure it is, but it’s based on research I did last year so I forget how I know that.
luthia February 26th, 2008 at 3:15 pm
any more information on the apts available in the building? trying to get information from the realtors, floor plans etc….2 apts still on the market they tell me. thanks.
Carroll February 28th, 2008 at 11:21 am
Hi:
I’m the Realtor representing the building. Yes, 10 units have been sold and the last 2 need a considerable amount of work, but well worth it. The price for these units have now been increased to $195,000.
Call me if you’d like to view.
Andrew February 28th, 2008 at 3:49 pm
If anyone wants to buy one of these remaining units but is afraid of the renovation work, I have been working with an excellent contractor who can do a good complete renovation for a decent price. He’s going to be finished with my projects in a couple of months and after that he’ll be free. I know there are a lot of contractors out there but I can vouch for this guy & show you his work. Just let me know!
Valerie February 29th, 2008 at 6:25 pm
Carroll Burke is amazing! This building is great – yes, needs work, but at this price you CAN do it! Inquire about viewings with Carroll, I did and I’m signing my contract next week. YAY, Bushwick!
luthia March 2nd, 2008 at 1:30 pm
Hi valerie,
so Carroll Burke is the listing agent? I’m getting the runaround from Fillmore. Just trying to get some information on the building and unit, floor plans and photos of what state the apt is in. Also, the price…Fillmore has it listed for 190,000. I’m out of town but trying to set up a viewing later in the month. Any information you have would be helpful. my email is luciamunoz@mac.com
Thanks.
willow March 30th, 2008 at 7:21 pm
I just bought and moved into a one bedroom on the 4th floor. We are revovating the kitchen and bathroom and working with a great/affordable contractor who has done work on other units in the building. The coop board is amazing and everyone in the building is extremely welcoming and warm. If anyone has any questions about the building, feel free to ask!
jlou April 8th, 2008 at 11:34 am
hello there willow! i’m looking at the available units this week and very excited about it! would it be possible to talk to you about the building and neighborhood? my husband and i paid the neighborhood a visit yesterday evening and actually talked to a couple of people in the building already- one person has been in the building for many years. i got a very good feeling form the neighborhood and the building tenants. we have been renting in bushwick for nearly 7 years and are ready to spend our money WISELY! and i like the genuineness/originality of the neighborhood. i can be reached at rebel1in8@hotmail.com. thank you!
Kojo August 4th, 2009 at 3:28 pm
I know that this story was posted some time ago, but I was wondering about anyone’s thoughts of this place so far. My girlfriend and I are considering buying an apartment here, but the apartment we saw needs a complete renovation overall. If anyone could pass along any info about the building, the surrounding area, and/or good contractors for renovation – it would be greatly appreciated. I can be reached at kojoopuni@me.com. Thanks in advance.
Kojo