House of the Day: 168 Midwood Street
Here’s a classic late Victorian with a bow front, neo-classical columns, decorative wood work wreaths, a center staircase, stained glass, plaster medallions, pier mirrors and a stained glass skylight. The Prospect Lefferts Gardens townhouse has been recently updated, and the kitchen and pantry have been moved to the rear of the three-parlor floor. The architect…
Here’s a classic late Victorian with a bow front, neo-classical columns, decorative wood work wreaths, a center staircase, stained glass, plaster medallions, pier mirrors and a stained glass skylight. The Prospect Lefferts Gardens townhouse has been recently updated, and the kitchen and pantry have been moved to the rear of the three-parlor floor. The architect is George Lawton, and it was built in 1899, according to the listing. It has been a HOTD twice, the last time in 2009, when it was asking $1,250,000. It most recently changed hands in April of last year for $1,176,000. The new ask is $1,775,000. Do you think they will get it?
168 Midwood Street [Brown Harris Stevens] GMAP
No sure there is a broker issue. Perhaps the agent @ Corcoran is no longer in the business. Plus, the sellers probably see Ms. Cunningham more often because she lives in the neighborhood and she, along with a couple of her BHS colleagues are still the “go to” brokers in PLG.
Babs, if someone can afford a million +, 1 family house, the odds are, their high powered job may take them to another city or overseas. It happens.
Or, perhaps – the owners are buying a house – south of Church Ave, which they will then sell in 4 years, at double the price – to some hapless couple from the Slope.
Job transfer overseas. No insight into the broker issue.
I know these folks from the neighborhood. They’re moving overseas. They bought privately without a broker from the prior owners, so I doubt they had much control over which broker was used to sell them the house.
Agree about the price appreciation, but the house is worth what the house is worth. Good for them being in the right place at the right time. A bunch of properties in the neighborhood are going for similar prices now.
Ok – fair enough. Didn’t mean to get my feathers ruggled. The place on 160 Maple just went for $700k more than it last sold for in 2006. I guess it makes it seem more “fair” that they had more time in prior to the sale, but pretty comparable upside, no? It’s just nice to see PLG starting to get the right (and I think deserved) kind of attention.
Agree on schools, but anyone who can spend almost $1.8mm on a house can probably send their kid to a private. PS 321 is incredibly overcrowded, but I hear a great school. Lots of folks in this neighborhood do get a variance and send their kids to public. PS10 seems popular.
I do think with the new rink and new apartment buildings, we are going to be seeing a lot more folks looking to come into the neighborhood, with many new shops and places to eat close behind.
For the record, these houses are more like 2,700 sq feet, plus a full 900 sq foot basement.
BTW, having lived in PLG for years, I can say it has changed a lot, particularly over the last 3-4 years. These blocks in the Manor are beautiful, with great neighbors who all know one another, say hello, and look out for each other – in other words, a real neighborhood – how many places in America is that still true? Every year there are block parties, fundraisers, and other community events. There are tons of kids playing outside together on a nice day. It’s a great place to live and it’s nice to see the houses starting to go for money that is, let’s face it, still a fraction of comparable properties in the Slope. Assuming you can work out the school thing and can afford it, who wouldn’t want to live in one of these places compared to half the space with tenants on the other side of the park?
this is a very nice house —-and you’re a moron
I’m not saying that this a bubble. I’m just saying you can’t always point to a sale price and say “well, that’s obviously what the market will bear.”
Also, it isn’t the case that the question is just what “the market will bear”. Where a market is so dysfunctional that it requires billions of dollars of bail-out money from taxpayers, that’s precisely an example of the market, in fact, not bearing what it appears to be bearing.
The fact that a property, or any other asset, may sell at a certain point in time for a certain price does not necessarily reflect the true value of that asset. That disjunction is what defines a market bubble.