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A First-Time Buyer Pours Years of Savings Into a Brooklyn Condo. Which One Did He Choose?

By: Joyce Cohen
Published: 3/19/2020Source: The New York Times

Featuring Anthony Morris

To find the ideal one-bedroom, this Bay Area transplant looked in newer buildings with relatively few units. Here’s where he wound up.

Jamil Walker thought his first home purchase would be in the San Francisco Bay Area.
 
Around two years ago, while living and working there, he came close to buying a condominium under construction. But instead, Mr. Walker, who had previously lived in Brooklyn for 14 years, decided to return to New York.
 
“A lot of my peers who don’t live in coastal cities bought earlier,” he said. “I was never sure about where I wanted to plant roots, but I spent my formative years in New York, and it felt like home.”
 
Besides, he learned that in New York he could get more for less. “Why is it cheaper to buy in Brooklyn than in the Bay Area?” he asked himself. “It was crazy.”
 
[Did you recently buy or rent a home in the New York metro area? We want to hear from you. Email: thehunt@nytimes.com]
 
A year and a half ago, Mr. Walker, now 40, was able to transfer to the New York office of Facebook, where he works in communications. He rented a one-bedroom in a new Long Island City, Queens, building while he went on the hunt.
 
For years, he had been putting every spare dollar into his condo fund. “If I got a bonus at work, it went to the condo fund,” he said. “Friends would say, ‘Let’s go on this trip,’ and I would say, ‘No, I am putting that in my condo fund.’ I was very disciplined when it came to that account.”
 
His Long Island City rental building had a gym and a pool, but his apartment faced a dim inner courtyard, and the neighborhood felt sterile.
 
“As nice as those buildings are, it didn’t feel like a community,” he said. He preferred something smaller and homier. His budget for a one-bedroom condominium was up to $700,000.
 
He wanted a washer-dryer (or at least a hookup), a dishwasher, central air-conditioning, private outdoor space and a good spot for his beloved 43-gallon saltwater fish tank — features he was likelier to find in a new building.
 
Mr. Walker enlisted the help of Anthony L. Morris, an associate broker at the Corcoran Group, who was referred by a former boss.
 
Ideally, the unit would be on a top floor. Mr. Walker learned the value of that when he had an upstairs neighbor who exercised at the crack of dawn. He often asked whether the floors in a building were concrete, a question typically met with a noncommittal response: “Let me get back to you.” (Nobody did.)
 
“On multiple occasions, we had the opportunity to go into the apartment above to check the noise,” said Mr. Morris, who would stomp around upstairs while Mr. Walker listened from below. If he could hear footsteps, he would cross the unit off his list.
 
Among his choices:
 
No. 1
 
Top-Floor Bushwick Condo
 
This apartment was around 640 square feet, on the coveted top floor of an elevator building with a common garden and roof deck.
 
The price was $542,000, with monthly charges in the low $900s.
 
No. 2
 
Bed-Stuy Condo With Roof Deck
 
This apartment was nearly 700 square feet, on a low floor in a walk-up building with a shared roof deck. There were huge windows in the living room and bedroom.
 
The price was $689,000, with monthly charges of a little over $700.
 
No. 3
 
Bed-Stuy Condo With Balcony
 
This unit, around 720 square feet, was on the top floor of a new four-story building, with outdoor space reachable through the bedroom and living room.
 
The price was $599,000, with monthly charges of less than $600.
 
Find out what happened next by answering these two questions:
 
Which Would You Choose?
 
14%
Top-Floor Bushwick Condo
 
6%
Bed-Stuy Condo With Roof Deck
 
79%
Bed-Stuy Condo With Balcony
 
Which Did He Choose?
 
9%
Top-Floor Bushwick Condo
 
4%
Bed-Stuy Condo With Roof Deck
 
86%
Bed-Stuy Condo With Balcony
 
His Choice
 
Bed-Stuy Condo With Balcony
 
The Bushwick condo was too close to the elevated M train, and Mr. Walker knew the noise would make him miserable.
 
The condo in Bedford-Stuyvesant with the shared roof deck was perfectly nice inside, except for the closet space.
 
“I knew I could not fit my life into the tiny closets,” Mr. Walker said. And while there was room to build a closet, he added, “I didn’t want to do construction on a new-construction apartment to make a closet.”
 
Although he preferred an elevator building, he figured a walk-up climb wouldn’t be too bad. He paid the asking price for the Bed-Stuy condo with private outdoor space, closing days before his 40th birthday. He arrived in the fall.
 
“It’s a charming stunner with Italian appliances I’d never heard of until I attended the open house,” he said. “I have a place that’s mine, that I can design any way I want to. The ability to make changes has been fun.” He had the closet interiors customized, and added a glass shower door.
 
He has faced some new-construction issues, including a roof leak and buckling floorboards from a dishwasher leak, but the developer made repairs.
 
“I have such an affinity for Brooklyn,” Mr. Walker said, noting that two of his friends live within walking distance.
 
“I didn’t know my neighbors in Long Island City because it was a 300-unit building,” he said. “This building is so small, I know my neighbors. It is always nice to have that rapport.”
 
Mr. Walker recalled reading about declining rates of black homeownership, and aiming “to break those rates.”
 
He added: “Both my parents instilled in me the importance of homeownership and how to build wealth. It makes me proud. To be able to finally use that condo fund for something I can call home has been extremely rewarding.”
 
Copyright © 2020 The New York Times Company. Reprinted with Permission. Joyce Cohen/The New York Times.
 
 

 

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