I've lived in Brooklyn all my life and in Ditmas Park for 7 years (currently in a 2 bdrm Co-op I've owned for 4 years) and have seen things go up and down enough to realize that most sellers have a very distorted view of reality and the "worth" of their property. Many sellers think their co-op is worth what they paid + what they spent fixing it up after they purchased and this is simply just NOT the case. The best way to determine the listing price is to review recent comparable sales in your immediate area. Many sellers are stuck on what was happening at the height of the market a couple years back. A quick look at Ditmas Park co-op prices right NOW would indicate that it's going to be very hard to sell a co-op at $449k. As the realtor below said, an asking price is often a wish list. Luckily, with the market crash, Brooklyn and Manhattan haven't been too affected but today's buyers are very savvy and demanding, as they should be. Sellers are very emotionally attached to what they perceive as an effort and expense on their part as far as what they have put in to their property. It doesn't make any sense for a buyer to spend well over 400K for a co-op, no matter how much work was put into it. At or near that price, in today's market, you can get a condo which offers much more flexibility and value in the long run. Take a look at that new building on Beverly and E 16th. They are selling CONDOS for far less than $449K, with maintenances that are less than half of 415 Argyle...brand new and very tastefully done units. And I'm sure this will be the case when that other new builiding is completed on Ocean and Farragut. My co-op was a great starting point for me as I was in my 20s, young professional and wanted to stay in the nabe I had been renting in for so long. Right now, in my building, there are 2 IDENTICAL apartments, where one asking price is 20K higher than the other. The lower price is a sponsor sale and savvy buyers will know to look out for those, esp b/c they don't have to get board approval and though they are top-tier, high end renovations that you might find in a re-sale, sponsor sale units ARE completely gutted and new and look pretty decent. So guess which one is gonna go faster, the sponsor or the resale who is asking 20K more with no significant difference? Bottom line, if you want to sell in this market then you need to get over yourselves!