397 3rd Street is back with hopes that the red-hot townhouse market will translate into sales success this go-round. As you may recall, four-story house hit the market in September of 2010 with Brown Harris Stevens asking $3,695,000 and was reduced to $3,495,000 before calling it quits; in May 2011, it was back with Corcoran at the same price before the price was trimmed again to $3,295,000. It was taken off the market a year ago, where it stayed until last week when it made its triumphant return with an asking price of $3,795,000. We were in love with this place the first time around and continue to be. The big question is whether the market has bounced back enough to handle this price. It’s possible.
397 3rd Street [Corcoran] GMAP P*Shark

Earlier this year a tipster told us the big yellow house at 70 Lefferts was operating as a hostel; they’ve followed up to tell us it has been since vacated. DOB shows a partial vacate order and full stop work order for “illegally converted rooms into transient hostel without providing required means of egress, fire alarm.” The hostel’s website is still up but you can’t book a date. If you recall, this home was landmarked after the threat of demolition and just hung out on the market after that. Who knows what’s next….
70 Lefferts Place Operating as a Hostel [Brownstoner] GMAP DOB

Per Curbed, there’s now an option for folks who are priced out of Williamsburg’s Hotel Le Jolie: The New York Loft Hostel on Varet Street. The hostel offers accommodations for less than $30 a night in its dorm spaces, bunk bed and wi-fi included. A pool and jacuzzi are on the way.
‘Live Like a Hipster King,’ Bunk Beds Included [Curbed] GMAP
Live Like A Hipster King! [NY Shitty]
The New York Loft Hostel [Official Site]