HOTD: Leslie J Garfield Dipping Toe into The Slope

11th st This listing jumped out at us not because of the house--which looks very nice--but because of the broker. We had not realized that Leslie J. Garfield, the ~~self-annointed~~ "Dean of Townhouse Brokers", was doing business in Brooklyn. A visit to the firm's website reveals that the Manhattan brownstone specialist actually has a second Brooklyn listing--on State Street in Brooklyn Heights. Anyhoo, we don't have much to go on since there are no interior pics, but the house appears to be in good shape and the listing claims that the infrastructure (boiler, electrical, etc.) is new. The lack of mention of original details combined with what is a fairly low sticker price of $1.3 million for the area has us a little worried, which is why we'd love to hear from someone who's seen the inside.
306 11th Street [Leslie J. Garfield] GMAP

Comments

I really dont think $1.3 million is low for 11th Street between 4th and 5th avenue.

Posted by: Steven Newman at June 13, 2005 12:22 PM

yeah - thats $590sq ft - and without something very special feature about the property I don't
think its low

Posted by: Anonymous at June 13, 2005 12:41 PM

and it's a 17-footer, to boot (aka - width envy may be operational here)

Posted by: Anonymous at June 13, 2005 12:50 PM

The price doesn't make me suspicious. I don't know of any houses this size anywhere between 4th and 5th that have sold for more. But this stretch of 11th is a lovely block. $1.3M is not surprising, if it's in good condition.

A lack of interior photos, though, always makes me suspicious.

Posted by: Anonymous at June 13, 2005 12:54 PM

We stand corrected on the price.

Posted by: Brownstoner at June 13, 2005 1:22 PM

I agree that this price seems pretty in-line with other things in the area, ie, south of 9th between 4th and 5th, but I do think that, assuming decent internal condition, this is a bargain in comparison to just a few blocks away, where the same place would be selling for $2 million.

Posted by: Anonymous at June 13, 2005 1:37 PM

FYI -- This house is on the same block as Cafe Regular, a fantastic cofee shop. That should add $500,000 to the value of the house by itself.

Posted by: Anonymous at June 13, 2005 1:42 PM

Think it looks good - compared to some other insanity I see online today. Corcoran has a $1.1
($550 Sq ft) for sad looking little house on Warren St/Bond-Nevins/ a not so prime block that is sandwiched between projects. Also they just a double purchase on the same block for $2.99 -2 houses next to each other- and am sure neither is great shape. About $470 sq ft.(one BTW the owner just purchased from neighbor for $750,000 )
And HeightsB/CobbleHeights has $1.2 for small single at 445 Carroll/Nevins-3rdAve/ although all
redone and nice looking kitch - is still a sided
frame with little charm. ($571 sq ft) Before reno purchased for fraction.
And then Elliman - granted a bit better but hardly great location has a $800 sq ft on Bergen off 5th Ave/Flatbush. And not the best interior by look at photos.
Everyday I get more tempted to call one of these brokers and list.

Posted by: pete at June 13, 2005 3:32 PM

Some perspective: I live in the South Slope between 4th and 5th. In my mail today was a postcard from Barbara Stewart of Corcoran claiming credit for just selling a house between 4th and 5th in the South Slope for $1.2 million. I was able to figure out from her Corcoran listings that this house was on 13th Street, had at max 2000 sq feet living room, and had somewhat unattractive renovations.

In addition, we know from Brownstoner's great work, that the guy on 15th Street between 4th and 5th with FAR up the wazoo was asking for $1.4 million and his website now say "under contract". That house had about 2800 sq ft in living space and looked quite nice [query whether it is worth saving the broker's commision in light of what Corcoran got for the much smaller and, from appearances, less attractive house only too blocks away]

In light of these two references, $1.3 million seems just about right for this place.

Posted by: Anonymous at June 13, 2005 11:31 PM

I don't think it's so high either. The 4th-5th blocks in the South Slope didn't break the million-dollar barrier all that long ago, and I still don't think it's the norm.
And yes, Cafe Regular adds significant value.

Posted by: 11streeter at June 14, 2005 12:25 AM

I went to one of the open houses for the "wazoo" house and it showed very nicely. Frankly, the price didn't seem out of whack at all. The one "problem" is the huge lot next door that the seller discussed when my wife asked them about the neighbors. He said Issac Cattan (sp?) closed on it recently and is supposedly going to build a 10-story structure with duplexed penthouses on top. The rummor is a 50-foot setback with a landscaped garden in front. I did a little research on property shark and the lot does appear to be at least 24,000 square feet. According to the seller and P.S. the FAR is 2.43, which limits the developer to about 60,000 livable square feet. My wife wasn't having any of it with newborns expected in 5 months, but otherwise if Cattan is going to build up, then he probably wont go property wide at the base, and with rummored setback there would have still been light and air and a view of some possible landscaping. Unfortunately my skirt lost out to her pants and our bubblisious search continues :(

Posted by: I'm Rick James B*tch at June 14, 2005 2:25 PM

Oh, to finish the though I started, so I can see where the prices in the area make sense, but a 2 year project that is 10-12 flights up could definitely put a dent in "the" number. Ain't that right Darkness?

Posted by: I'm Rick James B*tch at June 14, 2005 2:28 PM

Also, would the lovely Barbara Stewart (or any other broker that would see their commission go up in smoke as I would assume many others felt the same way my wife did) bother to mention that silly, minor detail, about that tiny 12 story building that just happens to be going up NEXT DOOR!?! Or would she just let you get sucker punched when you wake up one morning a few days/weeks/months after you have closed, and a backhoe is knocking down building and excevating earth. All the while she's praying you don't sue her/Corcoran for a material ommission of fact...Judgement: Plaintif.

Posted by: I'm Rick James B*tch at June 14, 2005 2:34 PM

Wasn't the wazoo house, if that's what we're calling it, on 15th Street a FSBO? So I don't think any broker's professional ethics figure in there.

Posted by: linusvanpelt at June 14, 2005 4:04 PM

LinusVP, my posts were in response to Anon 11:31's, "query whether it is worth saving the broker's commision in light of what Corcoran got for the much smaller and, from appearances, less attractive house only too blocks away" in reference to, "In my mail today was a postcard from Barbara Stewart of Corcoran claiming credit for just selling a house between 4th and 5th in the South Slope for $1.2 million." -That's all.

Posted by: I'm Rick James B*tch at June 14, 2005 5:18 PM

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June 13, 2005

HOTD: Leslie J Garfield Dipping Toe into The Slope

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