« Gowanus Artists Open Their Studios to Public The Other Side of Washington Avenue - Day 5 »
October 21, 2005
Open House Picks: Pressure Drop Edition
Windsor Terrace
82 Prospect Park SW
Townsley & Gay
Sunday 2:30-4:30pm
$1,899,000   $1,799,000
GMAP       ARCHIVE
Clinton Hill
30 Cambridge Place
Corcoran
Sunday 12:30-2:30pm
$1,650,000   $1,545,000
GMAP       ARCHIVE
Prospect Heights
415 Sterling Place
Prudential/Brooklyn Props
Sunday 2:30-4pm
$1,600,000   $1,500,000
GMAP       ARCHIVE
Fort Greene
730 Fulton Street
Citi Habitats
Sunday 12-2pm
$1,500,000   $1,400,000
GMAP       ARCHIVE
Comments
By the way, we still think 730 Fulton is overpriced but at least it's heading in the right direction.
Posted by: Brownstoner at October 21, 2005 11:57 AM
I agree B'stoner, the price is still too high and I recall someone saying when you posted this before that the owner turned down 1.3, if so he'll be kicking himself in a few months if he has to accept less. I can't even think of a reasonable explanation for this price. yea yea yea you get a parking space but I'd rather rent a parking space and get a better and more reasonably priced home.
Posted by: stuy blkbuttrflie at October 21, 2005 12:43 PM
are you sure the 30 cambridge place is a price-drop - it says the "first" open house is occuring this weekend (maybe first since drop!)
Posted by: Anonymous at October 21, 2005 1:06 PM
never mind - just read the archive - so this is the second price drop for 30 cambridge.
Posted by: Anonymous at October 21, 2005 1:07 PM
Yup,
Started at $1.9 if you can believe it. Think this will find a lot of interest at around $1.45.
Posted by: Brownstoner at October 21, 2005 1:34 PM
Looks like the housing bubble is bursting
Posted by: anon at October 21, 2005 2:26 PM
Or that people asking for unrealistic prices are realizing that they need to be more reasonable.
Posted by: HC at October 21, 2005 2:51 PM
It doesn't look like a bubble to me, more like that this particular houses were way overpriced from the beginning.
Posted by: Anonymous at October 21, 2005 4:59 PM
This is definately not a "bubble". A bubble would be where recent buyers suddenly found themselves way underwater on their purchases.
This is simply a realignment of expectations on the part of overly optimistic sellers and flippers. It's shifting to more of a buyers market. That in and of itself is not a bubble.
People have been asking ludicrous prices for crap properties just to see if there is somebody dumb enough to pay them.
Posted by: Miguel at October 21, 2005 5:36 PM
realtor here. still doing lots of deals. people who aren't ready to buy, or who bought a while back and can't believe today's numbers, loving this website seem to enjoy taking down the prices of homes for sport. i don't get it. all it takes is one buyer who falls in love with one home to make a deal. and all we do is bring those two parties together. sorry if that's not working for you all. but it's sometimes as much of a process for sellers as it is for buyers when they are figuring out when/whether to sell their houses. and that's okay i think and is a sign of a healthy market. why should every house fly off the shelf in no time flat? buying shoes takes longer than that.
Posted by: Anonymous at October 21, 2005 10:34 PM
Please note on 30 Cambridge that it is now being offered by Corcoran and no longer by Warburg. They had the price at $1,650,000 originally at $1,900,000. Corcoran was not the "bad guy" this time and has priced it reasonably.
Posted by: Anonymous at October 22, 2005 10:28 AM
on a rollercoaster, there is an exquisite moment
after youve slowly slowly gone click click click
click and reached the top of that first huge run down before acceleration and
whooooooooooooooosh...
and yeah its only a moment
but it feels much longer
for those who fear the ride
the most the ride
down....
Posted by: flambeee at October 23, 2005 8:36 PM
I still think that Cambridge Place is still a bit overpriced for the 'hood. It does have a beautiful rental apartment on the garden level.
The fulton street house is way overpriced. Of course, I'm not interested in new construction, so I'm biased.
When looking at houses, I'm still shocked how little brokers know about other properties on the market from their own agency. I don't know if they are feigning ignorance or whether it's a fact. I asked about the difference between the two houses Corcoran has on Cambridge and a realtor couldn't tell me.
Finally, while I was in one open house over the weekend, I was taking a lot of notes. (Otherwise, the houses blend in my head and I can't remember the different flooring in each house.) A realtor asked me if I had a blog and then told me how much she does not like bloggers. Free speech hurts!
Posted by: judson at October 24, 2005 1:11 PM
judson, who was the realtor who doesn't like bloggers?!?!
Posted by: ltjbukem at October 24, 2005 1:14 PM
That would be interesting to know...
Posted by: Brownstoner at October 24, 2005 1:18 PM
I'm not going to say, because otherwise he was very helpful and he acknowledged that they are very helpful to buyers.
This whole process continues to shock me. I find the brokers here to not offer a valuable service. While I understand it's difficult to sift through potential buyers to find the serious ones, I still don't think they offer a service commiserate with their fee. Especially since realtors here don't write contracts, like they do in the rest of the world.
It's also shocking that a realtor would have issues with blogs and buyers communicating, when you know that realtors communicate amongst themselves. That's why I'm dying to buy a house directly from a seller. I've only found one decent house being sold by the owner and it wasn't the right layout for the two family I'm searching for.
Posted by: judson at October 24, 2005 1:23 PM
i understand why realtors don't like bloggers. because we level the playing field for everyone and may eventually put them out of a job. or at best, lower their commissions.
it's like when edmunds came out with their site which gave the consumer all the info, ie the msrp versus dealer pricing. the consumer went into the dealerships, told the salesman they knew how much they got the car for and that they wouldn't take the msrp price any longer.
Posted by: ltjbukem at October 24, 2005 2:55 PM
ltjbukem? you must be a fan, you couldn't actually be ltj bukem? could you? a dnb dj on a brooklyn house blog? the possibility intrigues me.
Posted by: judson at October 24, 2005 4:32 PM
I've often wondered the same thing about mr. bukem...
Posted by: Anonymous at October 24, 2005 4:40 PM
no, i'm not the dj, just a big fan. in deed, i am intrigued that so many real estate hounds recognize the dj!
Posted by: ltjbukem at October 24, 2005 4:47 PM
damn. that would make for a great story. dnb heads, househunters, old house lovers. brooklyn makes for a great mix.
Posted by: judson at October 24, 2005 5:00 PM
totally natural for music fans to love old brownstones too! character, uniqueness, attention to detail, anti- conformist pop hits/new construction, I could keep listing the parallels... and Brownstoner is a Spoon fan, remember!
Posted by: Anonymous at October 24, 2005 6:29 PM
i also wondered whether you were THE Bukem
Posted by: TW at October 25, 2005 10:01 AM
I can't determine which thread (if any) suits me best, so here goes nothing:
Several years ago I joined the Clinton Hill Society after being floored by their biennial house tour. I am a mere impoverished Manhattan renter (and thus, perhaps, an interloper on this magnificent site) who is disproportionately fond of the Manhattan Valley, where I have lived since 2002. But I have always been an historic preservationist manque and since I am currently trying to locate a modest new rental home, I figured posting to this site could only help me avoid encountering more "property rapist" landlords and ignorant brokers (of which I have unearthed droves in the past two weeks). If I could find a modest studio or one-bedroom unit with any hint of authentic pre-war charm, welcoming to my friendly sixty-pound shepherd-retriever and located in a safe section of Fort Greene or Clinton Hill, I would be in heaven. Any advice for me short of plowing through Craigslist?
Second item of concern: I was shown an intact one-bedroom apartment last week in a circa 1905 building which is, sadly, located in one of the last truly sleazy areas of Harlem (St. Nicholas Terrace at 128th Street). The indifferent (and as yet unidentified) landlord had already ripped out kitchen cabinets from the 1920s. If the area had been a tad less decrepit and urine-soaked, I would have snatched up this rental, but I felt I could not live there safely. Meanwhile I have been urgently trying to find ways to salvage the cast-iron clawfoot tub, 1930s toilet and basin and crackle tile (with one-inch ledge) that the landlord is about to rip out of the enchanting dilapidated bathroom. Plus there's a marble-topped cast iron table in the kitchen which the broker told me I could have if I took the apartment. You should have seen the patina on it. Surely this building (really a pair of apartment houses) is full of other antiques which are in imminent danger of destruction.
One salvage operation, Irreplaceable Artifacts/Demolition Depot, did return my call, and I discreetly gave the address and apartment number of this building to their demolition contractor. Is anyone else interested in helping me figure out who the landlord of this building is and whether he might be prepared to sell off additional clawfoot tubs, porcelain bathroom fixtures, latched cabinets and anything else in his unfortunate possession? He obviously has no idea that these objects have any value whatsoever. Surely they could be had for a song!
Many thanks for your time and interest.
Rebecca
Posted by: Rebecca Hirschfield at October 25, 2005 8:10 PM
curious, but what would be a fair price for 730 fulton? it seems to be priced at $500/sqft?
i've been watching or rather reading the blogs for quite a while trying to learn more about the ny real estate market and still don't quite understand how to value homes.
Posted by: riz at October 26, 2005 9:44 AM

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