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June 10, 2005

Open House Picks

246 windsorWindsor Terrace
246 Windsor Place
Prudential Douglas Elliman
Sunday 12-2pm
$1,700,000
GMAP


286 vandFort Greene
286 Vanderbilt Avenue
Corcoran
Sunday 2-4pm
$1,695,000
GMAP


cambridgeClinton Hill
Cambridge Place
K Corbette Realty
Sunday 12-2pm
$1,650,000
GMAP


17th StreetPark Slope
274 17th Street
Warren Lewis
Sunday 2:30-4:30pm
$920,000
GMAP


monroeBed Stuy
41 Monroe Street
Corcoran
Sunday 11am-1pm
$799,000
GMAP




Posted by Brownstoner at 12:27 PM | Comments (26)
Categories: Open Houses

Comments

The 17th street listing (which is on the other side of the prospect)is Greenwood Heights, not Park Slope, as much as the real estate brokers would like it to be otherwise.

Posted by: Anonymous at June 10, 2005 12:41 PM

Is the 41 Monroe House in Bed Sty or Clinton Hill? Corcoran has it in Clinton Hill.

Posted by: Jen at June 10, 2005 12:52 PM

It's east of Classon, so it's Bed Stuy in our book.

Posted by: Brownstoner at June 10, 2005 1:10 PM

what's the address for the on on cambridge and gates?

Posted by: Anonymous at June 10, 2005 2:42 PM

Does anyone else find it amusing that when you click on the link to the warren lewis site, you get this: "Sorry. You are not calling from an authorized location. http-referer = http://brownstoner.com/brownstoner/archives/2005/06/open_house_pick_21.html"

Clearly Brownstoner, you are worrying these brokers.

Posted by: anon at June 10, 2005 4:27 PM

Are houses in windsor terrace really selling for $1.7?

Posted by: Anonymous at June 10, 2005 4:32 PM

test

Posted by: Anonymous at June 10, 2005 4:38 PM

yeah did you already mention why they block you or what's up with warren lewis?

Posted by: Anonymous at June 10, 2005 4:42 PM

Nope. Guess we have to stop listing them.

Posted by: Brownstoner at June 10, 2005 4:43 PM

Windsor Terrace house do go for that. It is a very tight knit community, very safe and house there are not bad. It was never built as an upper middle class brownstone neighborhood, but had some very nice houses. I also think this neighborhood has always been an Irish neighborhood, still is. That in itself is impressive.
The house on Monroe Street seems like a steal. This is a beautiful house for a good price!!!

Posted by: Tom at June 10, 2005 4:49 PM

i'm sorry, but $1.7m to live in windsor terrace is nuts.

Posted by: Anonymous at June 10, 2005 5:22 PM

A waste of time, but I decided to ACRIS the Windsor Pl house. It sold in Sept 03 for $625,000...
this market continues to amaze...

Posted by: Anonymous at June 10, 2005 5:33 PM

UMMM folks 17th Street is not Greenwood Heights!!! You people must have moved here in the past 5 years or something.

Posted by: Anonymous at June 10, 2005 5:35 PM

So what nabe is 17th Street? It is the far side of the Expressway...

Posted by: Brownstoner at June 10, 2005 5:51 PM

I got the Greenwood Heights info from my NYC street map book which is more than 5 years old (when we looked at another house on the same street, which BTW overlooks the prospect, but thats another issue)... the map said Greenwood Heights, but it could also be considered to be the start of Sunset Park I suppose if that is what you mean. Definitely is not Park Slope IMHO.

Posted by: Anonymous at June 10, 2005 5:52 PM

The house in Windsor Terrace may be a stretch, but the owner probably put a lot of $$ into it..looks nice. I think WT (at least the part closer to PPW) is undervalued relative to PS. e.g. a house on 14st (bet 8 & PPW would) go for a lot more then one on this block for the same condition.

Posted by: Anonymous at June 11, 2005 7:56 AM

If you work in Manhattan, Windsor Terrace is a long commute, as for that matter would be the house on 14th and PPW. Ironically, the commute is much easier from the middle South Slope, ie, 15 or 16 and 5th Ave, but of course the housing stock is not nearly as nice there. I guess the good news is that lower down you can still get something reasonably nice for about $1 million.

Posted by: Anonymous at June 11, 2005 8:35 AM

My curiousity was piqued by the reference to "ACRIS" .. it's the NYC dept of finance Automated City Register Information System and makes it very easy to find those public records that used to be hard to find. I gotta say I'd be a little freaked to find out that my financial info is so easily viewed by anyone, but having said that, and stating that the below is based soley on a quick look at the ACRIS and I'm not making any claims about its veracity and/or any typos on my part. here's the info:
There are two mortgages on record for the Windsor Place Building. One is for 320K and is a credit line mortgage, signed 11/4/03, I couldn't find the interest rate

The 2nd one is for 499,900, signed 02/13/03, an adustable rate mortagage that started at 3.950 annual rate, adjusted monthly (!) to the LIBOR plus 2.650 (Speculative guess: it would be now about 5.7%) that looks like it has an interest only option for 180 payments, which means 15 years to me & you.

More Pure Speculation/guessing:
So, is it possible this property was bought in 2003 for about 625,000 (625K-130K 20% down payment=), renovated with 320,000, and now is being sold for 1.7 million? And now the 800,000 (in profit) dollar question: is it worth 1.7 mil? will it be worth that amount in 3 years ?

Posted by: anon at June 11, 2005 3:51 PM


Did anyone see the house on Vanderbilt?

I looked at that house when it was for sale in the spring of 2003, and there were things about it that I loved, but the space was divided in such a way that there was practically no rental income. It's obviously turned over since then & it looks like someone cleaned it up a bit. I can't remember how much they were asking for it then, but 1.7 seems pretty fair to me now, actually-- for the lucky & rare person who can afford it!

BTW, I agree w/ the previous poster about ACRIS: That is fascinating-- and frightening-- that you can get so much info about other people's major purchases, and I'm glad that somebody mentioned it here. I didn't know about it, either.


Posted by: ftgrn at June 11, 2005 6:07 PM

To anon - exactly right on the purchase price! Look at the deed, check the transfer tax ($2500) and multiply by 250 to get $625,000. (Easier and more accurate than trying to infer from the mortgages.)
And on your other point - it's fun, and I don't see much harm in our snooping around for purchase dates and prices. But in the process, I have learned things about my neighbors that are, frankly, none of my business! Foreclosures, tax liens... It is all public information. But I do wonder whether it should be so easily accessible.

Posted by: anon2 at June 12, 2005 12:08 PM

For those of you interested in UK properties, there is now a website - www.nethouseprices.com which allow you to input any street address in UK and they will give you the prices each property closed at according to the Land Registry Office. Real estate craze is not limited to these shores.

Posted by: puppypure at June 12, 2005 10:20 PM

274 17th St, Brooklyn, NY is on the other side of the expressway, and that Owner/Real Estate Company had no right to get snippy about the Greenwood Heights designation.
I thought across 15th Street was pushing it for sacred "Park Slope"!

Posted by: Greenwood at June 13, 2005 6:29 PM

That block of 17th street most certainly is not Park Slope. The seller and Warren Lewis should know better than that. Even maps with the most liberal designations of Park Slope's borders don't include that block.

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