With your building, you're probably talking about Caton. The bad is that its on a busy intersection. The add value is probably the amenities. A gym is huge, and that's probably the big add value there. When choosing your new construction apartment though, bear in mind that the higher floors command a higher value, southern (even partially southern) exposure usually is priced higher, better fixtures command better prices and the size of the apartment affects the value.
If your main question is whether you'll get a good resale value of it, I would suggest that its a good bet. But we dont have crystal balls (or Real Estate Quija Boards) so you'll have to go with your research and make a determination.
Brooklyn is like an island in and of itself. There are many factors that come into play when determining the value of a property. These factors include location, condition, size, amenities and of course market conditions. You really have to concentrate on the here and now, don't worry about six or seven years down the road. Some people think the world will be coming to an end in 2012, does that mean you should not buy now? The bottom line is that nobody can predict the future so don't sweat that. You simply need to look at how much it will cost you every month to own the property and also factor in how much a tax write off you will receive by owning the property. Most likely it will save you a lot on your income taxes, especially if you are renting right now. If the place meets your needs and budget you should go for it.
Also, remember, you can try to negotiate the price down if you think it is too high (but formulate a strategy just in case they refuse to come down). The things that turn you on about the property will also turn on the person who buys it from you down the road! :)
If you want to discuss this further, feel free to call me, I would love to give you more helpful advice. Good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
How many condos have you seen so you have something to compare this to. This sounds like a wonderful
studio that you are already in love with, so if you fit in it and the price is reasonable that you can afford don't be so caught up with the square footage. Truthfully its small but if you love it, then somebody else will love in
six or seven years from now. Buy it and enjoy it