181 Midwood Street Sells Way Over Ask

A House of the Day pick in 2007 and again in 2011, 181 Midwood Street sold last month for 54 percent more than it traded for five years earlier. The most recent asking price — established last September when the house re-emerged on the market — was $1,300,000. The Corcoran listing shows (and public records confirm) a sale price of $1,420,000 on December 14, 2012. (In 2007 the ask for the two-story house was $925,000 and it sold for $920,000.) That’s not too shabby for one of the smaller homes on the block, albeit one with lots of original detail and a big upgrade. As far as we know, the highest-recorded Prospect Lefferts Gardens sale is 52 Midwood for $1.665 million.
House of the Day: 181 Midwood Street [Brownstoner]

20 Comment

  • it’s an ok home, nothing special and for me definitely not worth the price when i could get a much bigger and nicer pad in bed stuy for less. good on the owners for turning such a nice profit though!

  • What’s the point of writing about every house that sells over ask. At this rate, you’ll be writing about EVERY house that sells in Brownstone Brooklyn.

  • We were in PLG this weekend. Some really beautiful blocks.
    We were also in Flatbush. Some nice blocks there also.
    Ventured into Midwood, which I really haven’t been through. Holy Moly, lots of gorgeous houses in Midwood.

    • You do realize, I hope, that Midwood Street is no where near Midwood. The confusion stems from “Flatbush” and “Midwood” having been interchangeable names from the 17th Century until well into the last century.

      • In addition to being in PLG, We went to Midwood the area. Really beautiful free standing and very large houses.

        • Thanks for the clarification; I thought that was what you meant, but the confusion is SO common.

        • e_t, what did you think of the PLG houses you saw? Was there turnout? A couple others in the neighborhood have just entered the market: 4 Parkside Ct. and 201 Ocean Ave. (the latter is right across the street from prospect park and the new lakeside center, tho the B/Q runs directly behind it.)

          • we didn’t go to open houses. We had an appt on Saturday to see one house, and the broker cancelled, cause there was an accepted offer. Actually, she offered to show it to us in case we wanted to make an offer. But I’m not going to outbid anyone.

            So, we went to the nabe anyway to just poke around. We did see a few things (from the outside) in Flatbush that we really liked. We never considered flatbush before but there really are some very nice blocks of rows.

  • Wow! IIRC the seller told me [at our last block party] that there were multiple offers at the first open house.

    These small “Real Estate Associates” houses (so-called after the name of the company that built them c. 1909) are located at the eastern end of most Lefferts Manor Bedford–Rogers blocks. They are very well laid out and seem surprisingly roomy, considering their two story size. Although they lack the basement over full cellar construction of the larger “three story” [technically two story plus basement] houses on these blocks. they DO have basements with windows that can easily be converted to living space, as has already been done with most houses like this one that have sold for one million + prices.

    Expert_textpert’s comment, that EVERY house that sells in Brownstone Brooklyn” goes for more than the asking price, isn’t QUITE true YET, but things do seem to be heading that way, presumably because of a new uptick in interest combined with very low inventory. I guess I’d be thrilled if I were selling my house, but absent that I find it unsettling. I have a friend who’s looking for a house in PLG and despairing about his chances of finding anything.

  • as a nearby owner, I can’t complain about this, but wow. Previous record for a lefferts manor 2-story was $1.325M, and people thought that was crazy. I guess these prices are just a function of an extremely low inventory (and an even lower inventory of turnkey, renovated houses), but I can’t imagine that a comp at this level won’t tempt a few more owners to test the waters. If rates hold, I bet this spring is going to be nuts.

  • It will be really interesting to see what happens with 201 Ocean – this is the first of these houses to come to market post-landmarking, They are large Axel Hedman designs, able to be used as multi-family houses (because they are not in Lefferts Manor), and directly across from Prospect Park. Downsides: the house needs a lot of work, and the Q/B trains running in your backyard are noisy 24/7.

    • I’ve got a friend who rents in that row–they’ve gotten used to the train noise, but one roommate moved out over them. How well would airplane-style windows or some other soundproofing work in a townhouse? And has 201 been broken up into apartments, or is it single family? I’d think a duplex with a rental right on the park would be pretty sweet.

      • RE: 201 Ocean, according to Oasis Map there are three residential units, although the C of O is for two.

        • The deal on 201 Ocean is that it had originally been a single family. Then the owners renovated it to a double duplex — accounting for the 2 family C of O. However, it’s now reconfigured once again as a duplex with two floor-throughs (including the basement). Maybe that’s what the Corcoran broker means by needing”some” work (not “a lot of work”, Babs). I’m assuming the basement unit would be illegal as a rental to anyone other than family.

          At any rate, although I’ve not seen for myself, I’m told by other than the sellers that 201 has been “extensively renovated” and that the quality of the reno, which apparently left all of the original details intact, is “excellent”. Totally agree with Bob about the trains in this neck of the woods. Noisy? Yes? Intolerable? Maybe for some. But, for most who live on these blocks of Ocean at the Park, the other location assets (including close proximity to 2 subway stations) far outweigh the downside of MTA. rumble..

          • If it’s in as nice shape as you say, I bet it goes very fast at or above ask. A comparable house facing the park on PPW would be priced at $3.5M minimum.

          • Repeat disclaimer, FLH: I haven’t actually seen this house myself in quite some time. That said, please read my post as pure hearsay re its current condition. Last time I was in there was back in the early aughts. At that time, it had awesome original detail and I’m told that the extensive renos that have been done since then didn’t sacrifice any of the good stuff . Whatever the condition, as in most of PLG/ Brownstone Brooklyn these days, it would think it will go very fast at or above ask.

    • Not quite as noisy as you might think Babs [possibly because the sound is somewhat muffled because the trains run in a below-grade cut]. We have friends in that row; I’ve been in houses when the trains pass and been surprised that they don’t seem very loud at all.

      BTW, I DO know from loud trains; I grew up in an apartment building on the corner of Austin Street and 76th Road, in Forest Hills Queens, a few hundred feet from the LIRR tracks. THOSE trains were loud!

  • I know someone who lives in 201 Ocean. Floors 1 & 2 are shared by the owner and a tenant – shared kitchen and bathroom. The 3rd floor is a separate apartment and has its own kitchen and bathroom. The basement is just that. The trains are pretty bad: extremely loud, the entire house shakes, makes the back yard completely unusable.

    • You are absolutely right, nycdelisauce re the configuration of this house. My bad. And, as much as I hate to admit it, I had to come back here to confess that I had been thinking of the wrong house when I posted!! And, yes, Babs. Now that I’m back on track about which property we’re talking about, then you are right: 201 is an estate sale and the house more than likely needs “some” to ” a lot” of work. (How much is cosmetic/how much infrastructure, I can’t say.) However, as far as the noise complaints about the trains are concerned, I still say YMMV. Most who live on this strip use their backyards and roof decks, quite a bit.. . . even though the Park is only a hop, skip and jump across the street. :-)