House of the Day: 371 Carlton Avenue

371carlton031407.jpgGuess it’s not all champagne and bidding wars in Brownstone Brooklyn these days. After about five weeks on the market at $1,895,000, the bricktownhouse at 371 Carlton Avenue has received more than a 10 percent price cut to $1,690,000. Before everyone leaps into hysterics and declares the sky is falling, however, it’s important to note that this is not your standard Fort Greene brownstone. It lacks the grandeur that full stoop brings (though, to a family with small children, this could be seen as a big bonus) and it’s only three real floors of living space; it’s also a three-family, so it doesn’t fit the profile of the most common house hunter. While the interior has lost some of its moldings, the fireplaces and woodwork is intact and the house appears to be in very good overall condition. This big cut should stir up interest, we’d think.

In related news, did anyone else notice that 387 Hancock (discussed here) is back in contract?
371 Carlton Avenue [Corcoran] GMAP P*Shark
371 Carlton Avenue Reduction [natefind]

0 Comment

  • It just seems cramped. I have to imagine that you can do better for your money in that price range.

  • The market’s not falling, this house just sucks for the money. It doesnt make for a good owner occupied plus rentals because the owners unit is small and cramped and it doesnt make a lot of sense as an investment as solely a rental propery and the asking (even the reduced price).

  • agree the layout looks pretty awful

    $1.7 mil and they only shoot 5 photos is not too good either.

  • …The Mincer will single handedly save Fort Green from a housing slump.

    No one can resist his purple smoking jacket and debonair charm…..

  • There is now a name for what you’re seeing here:

    The Atlantic Yards Effect

    Get used to it. You’re going to be seeing a lot of it in the years ahead.

  • Agreed. AY probably does have a lot to do with it.

  • Yea AY is probably the LEAST of their worries. This home feels to tight for that price. If they gave up on the org. asking price after only 35 days, they probably need a ‘quick’ sale. Haha, already blaming AY for falling prices.

  • And how come so many people complain about not enough photos… Just get up and make an appointment! Photos NEVER give you the right feel for a house. EVER.

  • I agree with comments about AY Effect. That was the first thing that came to my mind was the proximity of this house to the development. Who wants to pay almost $2MM to live near construction for 15 years?

  • Hasn’t it got everything to do with the fact it’s still $690 per sq ft??

  • i think at this price it is a buy and looks to be priced within a nice range of a lot of would be buyers

  • Is this house a few blocks away from the gorgeous frame on Adelphi that was featured in “just sold?”

  • Sometimes I cannot believe the prices this guy Jerry Minsky comes up with. I mean it. 1.895 for this house is absolutely insane. It is a 2 family, 3 story house of no distinction whatsoever, skinny on a bareblock with
    a nice walk to the train, and it is 18X35, very shallow. 1.695 is insane. I am not a broker, but a person who was trying to buy sometime back in Fort Greene and I would marvel at where he would get these prices from. For example, the house you featured on Adelphi (frame house) went for 1.495. Forget about the sky falling, the pricing on this Carlton house has absolutely nothing to do with reality. But that is what they seem to do at Corcoran or at least in Minsky’s world. In contrast, I noticed A&H seems to underprice and then generate bidding wars. Whatever. The market wins. That Carlton house pricing was and is off the wall, though.

  • i personally think those that think AY has something to do with this are insane.

    every heard of the phrase cry wolf?

    i wonder if it’s something in the water in new york that makes a disproportionate amount of crazy people.

  • I live around the corner from this house. AY is irrelevant. You won’t be able to hear, let alone see or feel the construction from this block. This is a nice block that, IMO, has two problems: same block at the Greene House condos (parking is tighter-than-normal for FG) and fast-moving traffic on Carlton because it’s a through-street from Flatbush. And who knows about the house — there are no pics of the bathrooms or kitchens or much else, really. There’s just too little information to go on here.

  • I am anon 1:01, that AY should affect this price drop does not make sense at all. It a few blocks over but that is not the issue. The issue is that the house is not worth anywhere the money is was listed at. Look at the neighborhood comps. And if you had a semi-realistic front shot of this building, it would be clear why.

  • Once AY is build the fast moving traffic will not be a problem.

  • Once AY is build the fast moving traffic will not be a problem.

  • “i personally think those that think AY has something to do with this are insane.”

    This is what I’d be trying to make myself believe, too, if I lived in this neighborhood. And if you think the property values are going to drop now, with construction, just wait until 20,000 new people move in.

    How quickly can property values fall in a vacuum? We’ll find out in about fifteen years.

  • If this place were four real floors at that price, it would already be in contract. The extension on the first two floors helps, but isn’t the same as a full fourth floor.

  • Anon 4:10 is a dumbass with an agenda. There are many reasons to oppose AY, but falling property values is not one of them. — like 20,000 people moving into Tribeca and Battery Park City depressed real estate in lower Manhattan, right?

  • I live in greenhouse and acutally saw the property. It is well overpriced, with small units and needs work. The boiler may even need to be replaced as the basement is a disaster.
    And for the record this has nothing to do with AY. Nothing. This a great block in a prime location. Sit back and watch property values rise just like the have all over NYC.

  • 4:10…Are you a renter? Come on, please level with us. Where do you live? It so helpful to have some background to help illuminate people’s comments. I live in Cobble Hill. I totally agree with 4:35. Do you think the density of apartment buildings on Park Avenue depressed the prices of houses on the side streets?

    Nope. I didn’t think so.

    Oh, snap!

  • The point being that the buildings on Park Avenue actually are right next to the townhouses on the side streets…AY is a good 4 blocks removed from the house in question on this blog string. Your argument is banal and facile…

  • Bed Stuy house in contract…wonder if they got anything close to the million ask?

  • The location might work for someone with big bucks who works nearby. Like…um…a professional basketball player. (after remodeling)

  • the problem with this place is that the behemoth is hovering over you if you happen to be outside. jerry made sure to schedule the open houses late afternoon, in the brief moment that the sun wasn’t hidden behind the giant silver slab.

  • I’m actually looking forward to AY. I think it will be great for the surrounding nabes and Brooklyn in general.

  • “Your argument is banal and facile…”

    LOL. If you say this ten more times, with conviction, then you might actually begin to believe it.

  • I’m also looking forward to the first category 5 hurricane to score a direct hit on NYC. Despite all the naysayers, I think it’ll be great for the city and especially for Brooklyn. We have a bright and scintillating future ahead of us. Just keep your eyes on those stars!!!!

  • “4:10…Are you a renter?”

    You’ll wish you’d been a renter before this is through. That’s why you people have such freaking thin skins. You know the shit’s about to hit the fan. That’s why more people in your nabes are trying to dump properties now. Waiting till later will mean taking a big, big hit.

    Do yourself a favor.

    Call a broker.

  • “The boiler may even need to be replaced as the basement is a disaster.”

    Is this REALLY a concern for someone who can afford to pay almost two million dollars for a home? Sheesh.

  • AY is coming and all the rats, mice, stay cats and pigeons are fleeing the surrounding area.

  • If it wasn’t for AY, I would’ve won the $370 million Mega Millions.

  • Yes, AY is going to eat my first-born…

  • “Your argument is banal and facile…”
    “Your argument is banal and facile…”
    “Your argument is banal and facile…”
    “Your argument is banal and facile…”
    “Your argument is banal and facile…”
    “Your argument is banal and facile…”
    “Your argument is banal and facile…”
    “Your argument is banal and facile…”
    “Your argument is banal and facile…”
    “Your argument is banal and facile…”

    Hey, you’re right…I believe it even more…Thanks, dude.

  • Sure…whatever it takes…

  • The housing shortage is a good thing and it’s going to pay big dividends down the road.

  • The spread of HIV is perhaps one of the best things that could happen to NYC. I’ve had it up to hear with all of you naysayers!

  • 7:28, you should also try to avoid watching the news, and in general try to be as poorly informed as possible. It’ll be hard to do keep your head in the sand as time goes by, but given what you want to believe, this is your best strategy.

    Good luck with it.

  • If only hoboken was in brooklyn!

  • Aw c’mon…NYC is full of fools, and you know what they say about fools and their money (I was actually thinking of opening up a brokerage called The Separators). No matter what they charge, some fool at some point will pay it b/c there’s more dollars than sense (pun intended) here.

  • I live in the neighborhood. I believe the Atlantic yards is good for me my property value.

  • Ha Ha. Make sure you keep us posted, say in 2 years when construction is in full swing and traffic is at a stand-still outside your front door…..