« Neighborhood Close Up: Ryland's Flatbush Monday Linkage »
March 17, 2006
Open House Picks
Boerum Hill
152 Dean Street
Prudential Douglas Elliman
Sunday 12-2pm
$2,300,000
GMAP P*Shark
Carroll Gardens
327 President Street
Brown Harris Stevens
Sunday 2-4pm
$1,700,000 GMAP P*Shark
Discussed Here
Lefferts Manor
118 Rutland Road
Brown Harris Stevens
Sunday 1-3pm
$1,595,000
GMAP P*Shark
Prospect Lefferts Gardens
140 Lincoln Road
Aguayo & Huebener
Sunday 2-4pm
$1,250,000
GMAP P*Shark
Comments
I wish there was a picture of the Lincoln Road house from a different angle.
Posted by: Anonymous at March 17, 2006 11:51 AM
Check out the text on the Carroll Gardens house! It's on "Brooklyn's most ideal block". They'll say anything! 1.7 for a total gut. Have fun, someone...
Posted by: west at March 17, 2006 11:52 AM
1.6M in Lefferts Manor? That's too funny for words. But regardless, this house isn't all that appealing. The width is nice, but the rooms are all standard size. Details aren't that great. And I would buy anything on Bedford since it gets horrible traffic in rush hour. And the not only do the cars drive by blaring their stereos, but they get stuck at the traffic light--and you're entire 1.6M house shakes and rattles.
Posted by: Anonymous at March 17, 2006 12:06 PM
soory--would NOT buy anything on Bedford.
Posted by: Anonymous at March 17, 2006 12:07 PM
Anon 12:06 I can understand your other reasons but the details? I happen to think it is gorgeous inside
Posted by: Anonymous at March 17, 2006 12:10 PM
Sorry Anon I just realized you were talking about the other one
Posted by: Anonymous at March 17, 2006 12:11 PM
I live across the street from the CG house, and I nearly fell out of my chair when I saw the price. The house is on landmarked President between Smith & Hoyt (yes, it's been known as an "ideal block" for decades)and needs a total gut reno including complete new roof, new windows, new exterior iron work (which has literally rotted away), new b'stone facade...everything. It appears that the heir to the house (the deceased owner's sister who lived in a nursing home) has died, and the remaining heirs (nieces and nephews)have now put the house up for sale. Although I'm glad the house is on the market and it will finally be restored to lovely, inhabitable home it can be, I agree with "west," have fun with this one. The $1.7 million price tag is just the beginning.
Posted by: Anonymous at March 17, 2006 12:30 PM
I can almost understand spending 900K for a house in Lefferts Manor, since if you really want a house there aren't too many choices at that price. But at 1.6M (or even 1.2) you have choices. I know the area has many positive attributes, but for that kind of money I wouldn't make the major compromises needed to living there.
I've been visiting the area for the past 7 years and absolutely nothing has changed (except for the prices). If the area showed some signs of "emergence" I might see taking a chance on it, but as is you'd have to be crazy--or be someone who only cared about original details.
I also agree with the previous post that the Rutlan Road house is very underwhelming. At 25X45 it is smaller than a regular 4 story. And Bedford is not a street you want to be on.
Posted by: Anonymous at March 17, 2006 1:20 PM
I don't want to rile up the PLG bashers once again, but my view of the 4 choices above shows the PLG houses to be the most interesting and the best value. My bet is they will sell quickly and for good reason.
Posted by: Anonymous at March 17, 2006 1:44 PM
I'm not bashing anything or any place, thanks. Just expressing an opinion.
Posted by: Anonymous at March 17, 2006 1:51 PM
As a PS to the prior 1:51 post, I actually think that the other house BHS has for 1.6M is almost worth 1.45 or even 1.5. That is a special house! I still wouldn't sink that kind of money into the area, but I can see why someone would put up with the area for a house like that. But not for the ones featured here.
Posted by: Anonymous at March 17, 2006 2:11 PM
Why is the house on Rutland Rd different from its neighbors? Does it pre- or post-date them? It looks kind of odd at one storey taller...
Posted by: babs at March 17, 2006 2:24 PM
And I am loving the interior space of the house on Lincoln Rd, even though I'm not as fond of the exterior and Tudor is not my fave. Nice photos A&H! All things considered I'd probably go with this one over the one on Rutland Rd, which surprises even me!
Posted by: babs at March 17, 2006 2:34 PM
I love a good tudor, but this one looks like it's been tampered with. Would love to see more exterior pix.
Posted by: Anonymous at March 17, 2006 3:11 PM
Is there a difference between Prospect Lefferts Garden & Lefferts Manor?
I know some parts are Landmark...
As far as the 2 homes, the Lincoln road one price aside, the Kitchen looks great, the bathroom looks a little cheesy for my taste and maybe it's just the photos but the floors look to shiny, to much polyurethane for my taste and just not classic Victorian. For that kind of money I would have to re do the all the floors.
The Rutland Road home not so cheesy floors look natural and not high glossy, a little more classic.
But still high in price….
Posted by: Anonymous at March 17, 2006 3:23 PM
The Lincoln Road house IS in Lefferts Manor. Lefferts Manor is a subset of Prospect Lefferts Gardens. This tudor went through a total exterior reno over the past several months. Must be a flipper. Front facade is quite lovely. No alterations to original facade. New roof, new paint, etc.
Posted by: Anonymous at March 17, 2006 3:33 PM
The back of my mind I said that looks like other homes I have seen that are flipped. Same cheesey floors. You would think they would learn, and not be so darn cheesy.
Has anyone seen inside, is the work cheep inside...
Posted by: Anonymous at March 17, 2006 4:01 PM
IMO, the Boerum Hill house is absolutely the winner! As is often the case, the more expensive houses are much better value. Maybe because there is less competition in these market segments. This house is wide, big and in move in condition. Compared to the Carol Gardens house, where you would have to put in 600K+ to restore it, the Boerum Hill seems like a steal! Not to talk about the location, which is the much better.
Posted by: Anonymous at March 17, 2006 4:31 PM
yawn
Posted by: clinton hillbilly at March 17, 2006 4:40 PM
Right--both the Lincoln Road and Rutland Road Houses are in Lefferts Manor (and also, of course in Prospect-Lefferts Gardens).
According to the LPC Designation Report, the Rutland Rd. house was built at the same time as the four smaller houses east of it. A whole paragraph in the LPC report is devoted to that house:
"Nos. 118-130 (Nos» 120 and 124 have been omitted from the street numbering),
This row of five limestone residences was designed in the neo-Renaissance style by Benjamin Driesler in 1910 and built the following year for William T. Reinking.
The houses are Driesler's most ornate buildings in Prospect Lefferts Gardens»
The taller corner house, No» 118, is a full three stories high and is distinguished by a one-story porch with square piers flanked by Ionic columns, all of which support a galvanized-iron cornice• This porch shades an extremely narrow entrance capped by foliate carving. The front facade is further embellished by a full-height, three-sided angular bay set to the right of the main entrance. The upper
stories are ornamented with carved panels that appear under each third floor window. The long Bedford Avenue facade is faced with brick and is articulated by limestone trim that includes keyed window'surrounds, keystones, and an elaborately
carved doorway lintel. The main entrance, with imposing double doors with iron grilles, is located on this facade. The house is crowned on both sides by a handsome modillioned cornice with a paneled swag frieze".
I was surprised to see the Lincoln Road House on the market. I had watched it being renovated and thought the work was being done by a family that was going to live in it rather than by "flippers". They seem to have done a pretty good job though, although I regret their replacing the ugly broken '70s amber plastic windows on the second floor front with replacements that are similar in color and almost as ugly.
I can see Anonymous 12:06's point about noise on Bedford Ave. It IS crowded during the rush hour (and on Saturdays) but is pretty quiet at other times. FWIW I almost bought the house on the N.E. corner of Midwood and Bedford in 1974. I ended up buying a house with more--actually ALL--original detail on the same block and have never regretted NOT living on a corner. However the Rutland Road house is IMO far more attractive than the corner Midwood Street house I passed on--had it been available 31 years ago I'd have been tempted--its a VERY distinctive house.
Posted by: Bob Marvin at March 17, 2006 4:53 PM
I agree with Anonyomous 2:11-- I personally prefer the Midwood Street house that BHS has for sale. It's part of my favorite row of Lefferts Manor Houses. BTW they were built in 1898--not 1901, a minor error in the listing. These houses were built by the same builder (W.A.A. Brown) as my 1899
house on the next block of Midwood Street--they're MUCH more expensive than my three story house though; when new the four-story houses cost $11,000 while three storys,like mine, were $7,500.
Posted by: Bob Marvin at March 17, 2006 5:21 PM
Yes, that row of 4 story houses on Midwood is phenomenal. As I said in my earlier post, I can see paying a small fortune for one of those that was in great shape. The Rutland Road house pales in comparison--I don't know how BHS priced them the same. The Rutland house doesn't strike me as anything better than the 4 story on Rutland that Corcoran has for 1.395M (which I also think is overpriced for the area).
Posted by: Anonymous at March 17, 2006 5:34 PM
but don't forget that the Rutland Road corner house has a garage! That and the great porch must count for something!
Posted by: dt at March 17, 2006 5:44 PM
Re: garage -- is street parking that tough in PLG? I guess if your car is nicer than mine the garage is a plus regardless. But value must be proportional to scarcity of parking.
Do love the porch, tho.
Posted by: linusvanpelt at March 17, 2006 6:16 PM
I personally saw the house on 140 Lincoln over a year ago before the flipper bought it and was seriously tempted. The original detail was phenomal, but sadly there was a lot of water damage over several years of neglect. The porch and main roof had major holes and a gutter downspouts was disconnected, leading to major water penetration in the brick exterior on the left side of the house. The garage was a mess (completed rotted roof) and the rear section of the house had a major settling problem leading to wall separation that needed more than repointing.
Strangely, a baby grand piano and a lot of water-logged personal belongings were still in the house at the time.
The gorgeous floor had been damaged along with many plaster ceilings. But the oak staircase and book cases and flooring were priceless. It needed $300k+ in updates and repairs in my estimation, but the pictures look like they did a nice job.
Strangely, a baby grand piano and a lot of water-logged personal belongings were still in the house at the time. Major mystery.
Would have bought it if the location had been a tad better, the owner had been less of a jerk (FSBO) and more trustworthy, and I had had more guts.
If it sell for this price, I will be kicking myself about the one that got away.
Posted by: andru at March 17, 2006 6:17 PM
Thanks for the info Bob -- I knew you'd know the scoop!
Posted by: babs at March 17, 2006 7:17 PM
Street parking is pretty easy in PLG and the drug dealers all have Range Rovers and Humvees which they park on the street. So a normal car is pretty safe.
Posted by: Anonymous at March 17, 2006 8:22 PM
Yes, street parking is pretty easy in Lefferts Manor- except at night. That's the time that I would love to have a garage. poster 8:22's remark aside, cars do seem to be safe on the street in this nabe, though. Tonight as I passed the Rutland Road house I couldn't resist looking in. They have built in bookcases, and the place looks very inviting.
Posted by: dt at March 17, 2006 9:08 PM
Everyone seems to either ignore the 25 foot width of the Rutland Rd house or not particularly value it. The house on Midwood is 20 feet, and I find the difference noteworthy. That said, Midwood 1, as this block is known is perhaps the nicest in the Manor.
Posted by: Anonymous at March 17, 2006 10:23 PM
140 Lincoln was bought at a city auction and flipped and now flipped again.
Posted by: Anonymous at March 17, 2006 10:24 PM
The thing about the 25 foot width of the Rutland Road house is that the floorplan doesn't take advantage of it. The living room is just 12'6" wide--the same as or narrower than in a 20' wide house. And it is only 3 stories, whereas the Midwood street hous is 4. And the Midwood street house is not on a busy street. Both seem really overpriced, but I can see the argument for paying top dollar for the Midwood street house.
Posted by: Anonymous at March 17, 2006 10:58 PM
I love the PLG homes. They're beautiful. However, there's no way I'd be willing to live there because it's too dangerous.
Posted by: Anonymous at March 18, 2006 8:45 AM
I love the PLG homes. They're beautiful. I've been willing to live here a long time and I don't find it too dangerous.
Posted by: g at March 18, 2006 8:56 AM
Sorry, 8:56 a.m. was me.
Posted by: GardensGal at March 18, 2006 8:57 AM
I find it to be a very nic, quiet nabe.
Posted by: dt at March 18, 2006 9:41 AM
10:58 poster- your point about Rutland house not taking advantage of the extra width is well made. I guess with that in mind I would prefer the Midwood 1 house too. But in comparison to the Lincoln Road house, Rutland takes my vote. I looked at the Lincoln Road house before it was renovated. They did a great deal of work. However, I think that type of house is harder to cozy up because it is so grand. I also like the idea of creating a secret garden, which is more easily done with attached townhouses. Lincoln Road is an awesome house, though.
Posted by: dt at March 18, 2006 9:50 AM
Re: the Carroll Gardens house. While I agree that the Boerum Hill house looks beautiful, I disagree about Dean St. being a preferred location. That block of President St. is truly one of the most ideal locations in all of Carroll Gardens for both beauty and convenience and I wish I lived on it. Although if you prefer Boerum Hill in general, of course Dean Street is lovely. Still, that CG house seems way overpriced.
Posted by: Anonymous at March 18, 2006 12:06 PM
I agree that President St is a great place to be, but Boerum Hill is so convenient to all the subways. For a family where people have to go to different places in the city on a daily basis that really hard to beat.
Posted by: Anonymous at March 18, 2006 1:37 PM
PLG is a sketchy neighborhood. No doubt about it. But that just means you have to keep your wits about you and exercise a reasonable degree of caution. Yes, if you fail to be cautious you will be in big trouble sooner or later, but that is true in plenty of nabes, not just PLG.
Posted by: WunderBoy at March 18, 2006 5:21 PM
A question about the Lefferts Manor market: Why have the high-end home increased more than the lower-end ones? I apologise for repeating this, but back in 2001 we bid on a house next to and identical to the Maple street house now on the market for 950K (same row, same size, same layout, same details, same condition). Our bid of 525K was not accepted. So from 525K to 950K is an 80% increase in 5 years. But these houses asking 1.6M couldn't have been more than 750K, max, back in 2001. So that is an increase of at least 115%. Is there that much more demand for grand homes than there is for not so grand ones?
Posted by: Anonymous at March 18, 2006 5:50 PM
Anon.5:50,
I suspect this may have happened in other brownstone neighborhoods as well,not just Lefferts Manor. Perhaps more modest houses don't appeal to buyers who are VERY well off.
Posted by: Bob Marvin at March 18, 2006 6:04 PM
Anon.6:38 writes that two years ago "everyone said the area was about to change since prices had gone up so much and so many park slopers were moving in. But when I was there recently, it was exactly the same. No new stores. No change to Flatbush avenue. In other areas, large increases in prices have gone hand-in-hand with improvements, But in LM, nothing changes but the prices".
In the 31 years I've lived in Lefferts Manor, the lack of amenities such as really good shopping on Flatbush Ave., the closest commercial strip to LM, has been seen by many residents as our greatest problem (not safety--this has never, in my experience, been an especially dangerous neighborhood). I think there are a number of reasons for this, most notably the relatively proximity of Park Slope--I admit to shopping there myself for anything other than basics. The other factor is the relatively small middle class population base which consisted of the 600 Lefferts Manor households plus a few hundred other houses in the rest of the PLG historic district and other surrounding blocks. I think this may finally be changing with an apparant significant increase in the middle class population in PLG apartment buildings, although only time will tell. A relatively new organizatiion,PLUS (Prospect Lefferts United for Services) has been working to attract new businesses (and BTW, a great new cafe, K-Dog and Dunebuggy, opened lastr week on Lincoln Road). in the interim, PLG residents still have great homes at 1/2 tyhe price of many other brownstone neighborhoods.
Posted by: Bob Marvin at March 18, 2006 8:25 PM
Sorry about all the typos in the my previous post--I pasted it into my WP program, did a spell check, and, in a fit of absent mindedness, pasted the un-corrected original back here :-(
Posted by: Bob Marvin at March 18, 2006 8:31 PM
I recently moved to a house steps away from Flatbush in PLG and was pleasantly surprised at how low-key and quiet it is here. The taller buildings on Flatbush seem to block out all of the noise (it's actually quieter here than my former block in Park Slope.) I'm told it's a lot noisier in summer, though, when the weather is warm.
Posted by: carrie at March 18, 2006 11:10 PM
Dig the stairwell in the Lincoln Road house. I think it's very beautiful. A very nice lineup for this week's "picks".
Posted by: Brownnoser at March 18, 2006 11:33 PM
Hey, Brownstoner, what happened to my 6:38 post? It seems to have disapeared! Was there something offensive in there? If so, please explain, since it escapes me.
However, my post was still up at 11:10, since someone responded to one of my comments. The house we were warned against buying in 2001 by friends in LM was on Rutland Road just off of Flatbush. We were told that that was a "bad" corner and that the residents of the apartment building hung out on the street at all hours in the summer and blared music from the front and rear of the building. My understanding is that the noisiness of the corners varries a lot, depending on the specific apartment buildings. So, 11:10, I hope your corner is OK.
Bob, thanks for the explanation. And, for the record, it was lack of amenities that concerened us about the area, not safety. Your explanation notwithstanding, I still don't see how major price increases can be justified in the face of a lack of any progress along Flatbush. When things do change, then LM houses will actually be worth 1.5M. But untill then, I don't see it.
Posted by: Anonymous at March 18, 2006 11:43 PM
Carrie,
Good observation about noise from Flatbush Ave. in PLG. I've often been struck by how quiet it is after I turn the corner from Flatbush Ave. onto Midwood Street--even in Summer. PLG is surprisingly quiet. My bedroom is in the front, something I wouldn't have wanted when I lived in a better known brownstone neighborhood (which shall remain unnamed--I hate invidious comparisons).
Anon. 11:43 (& 6:38),
I know people who are very happy in the Tudor-revival houses on Rutland off of Flatbush, but the choice of homes is so subjective I wouldn't presume to question your choice. As to prices in PLG, or ANY Brooklyn Brownstone neighborhood,I don't pretend to understand them. My house has appreciated in value to a fantastic degree, but it's almost like Monopoly money since I have no plans to sell and,if I did, I'd have to live SOMEWHERE. Guess I could make out very well financially if I wanted to retire to a ghost town on the great plains--LOL
Posted by: Bob Marvin at March 19, 2006 8:54 AM
Bob, as for the Tudor we passed on in 2001, who knows. My freinds in the nabe tell me the corner is still really noisy. As for the issue of prices, it's true that rise and fall of prices are incomprehensible, but that really doesn't respond to my point that without an increase in ameniites LM isn't worth the money being asked for the prime houses. As for me, my place has almost tripled since we bought it in 2001 and I plan to sell it and move to Westchester as soon as my oldest child is school-age. I can't fathom spending 25K a year on school and I'd like the kids to be able to run around outside. But that is another story...
Posted by: Anonymous at March 19, 2006 3:11 PM
I find Lefferts Manor to be MUCH quieter than our former nabe (center Park Slope). I am always baffled by the comments indicating that it is loud here. In fact, yesterday I went over to the Slope and felt accosted by the noise level. I must be adjusting to my new environment. As far as kids playing outside, mine plays in our backyard and I see many kids playing out front (I'm sure mine will too as soon as she gets over the awe of having a back yard). Tuition does stink, but we made a decision to pay it when we decided to raise our child in the city after a very disappointing move to the burbs.
Posted by: Anonymous at March 19, 2006 4:06 PM
PLG is relatively quiet, and you're right, it's much quieter than Park Slope. My wife and I were also just talking about how CROWDED Park Slope has become. We went there for dinner last Tuesday night and the crunch was unbearable. We were always in someone's way, or someone was in our way. There was never quite enough room for everyone to walk comfortably on the sidewalk. It would make PS a much less attractive destination for me if I were looking to buy a place.
Posted by: Anonymous at March 19, 2006 5:19 PM
I agree that most of the area is relatively quiet. But we all know that the corner 3:11 is refering to has serious loitering and noise issues. Why not admit that? The comment wasn't that the area was noisy--it was referring to one corner. We can't try to boost the area unless we're going be honest and acknowledge the problems.
Posted by: Anonymous at March 19, 2006 6:06 PM
Sorry about the comment deletion. We have to delete so much comment spam that sometimes we inadvertently delete real comments in the process. It's one of the really fun parts of running a blog!
Posted by: Brownstoner at March 19, 2006 7:44 PM
Anon.3:11,
Whether Lefferts Manor or ANY other brownstone nabe is WORTH the current high prices is something I can't really answer.
Lefferts Manor houses have been about 1/2 Park Slope prices ever since i moved here and I think the lack of amenities like upscale shopping is a major reason for this.
I respect your decision to eventually move to the suburbs--that would be intolerable for me personally, but, to each his own. When I bought my house in 1974 brownstones were only being bought by "crazy" people like me--"normal" people wanted to live in the suburbs. The price of the "back to the city' movement's success was that brownstones are now part of the "regular" real estate market and the suburbs are a viable alternative.
Posted by: Bob Marvin at March 19, 2006 8:33 PM
Re: "Noisy corners on Flatbush Ave. bordering PLG/Lefferts Manor:
They may still be noisy, but there has been a staggeringly positive trajectory in noise and loitering reduction on these corners over the past five years. I watch it daily, as I own one of these "corner" houses. Part of the reason for these improvements... Lefferts Manor has an active Neighborhod Association that partners with the 71st Precinct to address these quality of life issues. Yes, Flatbush sure ain't Park Slope, but having live on a corner almost ten years now, the subtle improvements are profound. This safer environment had to preceed any amenity improvements.
Posted by: Anonymous at March 19, 2006 9:09 PM
Bob, my parents bought a Brooklyn brownstone in 1965, so I wouldn't say only crazies were doing that in the 70's. And yes, the burbs aren't for everyone, and I couldn't live in any of the suburban burbs near the city either. But after a year of expeditions and staying with friends who have left the city, we've decided that the nothern part of Westchester is just right for us. Beautiful countryside, a sense of or ruralness, many parks and nature preserves, but great schools, good restaurants and cafes, an art center with loads of galleries nearby, and a number of good art museums. And NYC 45 minutes away. As a city kid, I want my own kids to have a better balance in their lives. Fortunately, a lovely house up there can be had for just over a million, which nowadays is a bargain.
And to Anon 4:06--when I said that I want my kids to be able run around outside, I didn't mean on the sidewalk or in a 20 by 40 backyard. That's not running around.
To anon 9:09, my comment was about one particular corner. All I know about it is that we were warned away from it in 2001 by friends who live in LM and that they recently told us that the problems are the same. They say they usually walk on another street in order to avoid the corner. But I have no firsthand knowledge of it all. And in no way was I making a blanket statement about the area.
Finally, to Brownstoner, no problem about deleting the original post. Cleaning up all that spam must be a headache!
Posted by: Anonymous at March 19, 2006 11:55 PM
Anonymous,
N.Westchester is beautiful--I wish you luck. It wouldn't be right for me, but everyone has to do what they consider best for themselves and their families.
Posted by: Bob Marvin at March 20, 2006 12:52 AM
We spend time in the suburbs visiting friends, and I grew up in the NYC suburbs. As soon as I was 12, I spent every last dime on the bus to Manhattan. The sense of suburban anomie was overwhelming... I'm sometimes tempted by the open spaces and educational choices, since my kids are still young (they are begging for a swimming pool), but the prospect of raising teenagers in suburbia leaves me cold. It sounds like some people have found a good balance in PLG. We certainly feel that way in Ditmas Park, and I have to say, the schools in Ditmas Park (if your kids are reasonably bright) have a lot to offer, and it doesn't that's not just true for the elementary years. Midwood HS produces more Westinghouse scholars in the entire nation (and that includes Scarsdale HS!).
The only time I want to get away is in high summer, but who doesn't. So we're thinking of purchasing a summer home in upstate NY. Of course once the kids are teenagers, they will never want to go there...
Posted by: Anonymous at March 20, 2006 9:22 AM
Bob M,
You make a good point about PLG prices having always been 1/2 of the price of Park Slope. But here's the problem. Since the 1970s, amenities in Park Slope have improved -- as you say yourself -- exponentially better than those in PLG. But the ratio of prices has stayed about the same. [Yes, PLG has the park, museums, gardens, etc., but those are the same now as they were 30 years ago, more or less, right?]
Buying in PLG, or in another neighborhood where you are hoping for better amenities, has always to an extent meant taking a certain risk (that amenities improved) in exchange for reward (that you'll have bought in cheap). But now --- because prices have gone up so much while amenities have not -- you're essentially being asked to bet more money on eventual improvments than you used to.
I'm only focusing on PLG and PS because you used those examples, but I think the same is the case in several lower-amenity Bklyn neighborhoods, which in the last couple years, have increased in prices by much greater percentages than the more "established" neighborhoods. In other words, the relative "discount" that you used to get for buying in a nabe with fewer amenities is shrinking.
[And I know "amenities" is a loaded word. Let's just say it means "those features that make someone want to pay a lot of $ to live somewhere."]
I guess all this is just a hazard of a hot market, but it's something for a house hunter to consider.
Posted by: linusvanpelt at March 20, 2006 9:44 AM
I (the one planning to move to upper Westchester) feel intense "suburban anomie" in the Jersey burbs and lower Westchester. Those miles and miles of deadly quiet streets lined with houses without a soul in sight send shivers down my spine. I couldn't last a week in Scarsdale, for example. Upper Westchester, however, feels like the country to me. Many of the towns feel like villages and once you're out of the towns it's rolling hills, woods, and fields. To my mind, there's no suburban anomie to be felt. And the last few years have seen an explosion of cultural venues as artists pushed out of Brooklyn have opened galleries, museums, and art schools. Most of the people we know and meet up there are ex-city folk and are the kind of creative people we used to have as neighbors in Brooklyn. But it is obviously all highly subjective and personal. As with Brooklyn neighborhoods, what works for one person doesn't work for another.
Back to the topic, anyone go to the Rutlan raod open house?
Posted by: Anonymous at March 20, 2006 10:03 AM
linusvanpelt,
It's not like life in PLG is bleak. We have beautiful houses on quiet blocks, friendly neighbors, active neighborhood organizations plus what we've always had, "the park, museums, gardens, etc." which are what we had 30 (or 60) years ago.
SHOPPING here does leave something to be desired, and yes, with vastly increased prices,you're right that home buyers "being asked to bet more money on eventual improvements than [they] used to". At the same time, prices here, which were tens of thousands of dollars less than more "established" brownstone neighborhoods when I bought my house, are now many hundreds of thousands (perhaps a million) dollars less. Something indeed for a house hunter to consider. Prices here have NOT increased "by much greater percentages than the more 'established' neighborhoods" and the relative "discount" has remained the same in percentage terms, but has grown enormously in absolute dollar terms.
Some people who buy here might not be able to afford a brownstone in a more expensive neighborhood; others might opt for a single-family brownstone here, rather than becoming a landlord elsewhere. Prospect Lefferts Gardens is not for everyone--no single brownstone neighborhood is, but it remains a neighborhood very much worthy of consideration.
Posted by: Bob Marvin at March 20, 2006 10:48 AM
Bob, linusvanpelt isn't saying that life in LM is "bleak." His point is the one I was trying to make earlier--price increases in the slope, carrol gardens, fort greene, etc have gone hand-in-hand with an improvement in amenities. Prices in PS are manhattan-level but PS now has manhattan-quality stores and restaurants. Since LM has not seen a similar increase in amenities and is, according to you residents, still dealing with assorted quality of life problems, it follows that the ratio of LM prices to slope prices should be lower than it used to be when the difference in amenities wasn't as huge.
And, looking at the BHS site, I'd say the Rutland Road house at an asking of 1.6 is about on par with a 1st street house with an asking of 2.2--way above the 50% ratio.
Posted by: Anonymous at March 20, 2006 11:15 AM
Whew, I can get a bit long winded at times. What I meant to say was that a PLG home buyer who might have paid $50,000 less in 'the mid -'70s, compared to that better known nabe across the park, might now pay $1,000,000 less--the same percentage "saving"but a lot less money spent in absolute terms, even when you allow for inflation
Posted by: Bob Marvin at March 20, 2006 11:18 AM
1. anon 11:15 gets me exactly right. This is not about whether PLG is nice or not. It's about whether it has improved, in proportion to its price increases, at the same rate that other nabes (like PS) have improved in proportion to their price increases.
2. Maybe I'm wrong, but having followed places like this site over the past few years, PLG asking prices seem to have increased at a greater percentage than PS asking prices. And that's demonstrably true of other nabes, like Clinton Hill, where people are buying beautiful homes and hoping for amenity improvements to come eventually. Just look at the numerous realtor neighborhood price reports Brownstoner has been posting.
I believe you that PLG had great neighbors, great houses, the park, etc. 30 years ago -- that's exactly my point. Things staying the SAME are not reasons for prices to rise faster than inflating; things getting BETTER are.
To put it bluntly: If PLG's prices have increased, over 30 years, by the same factor as PS's, then the neighborhood should have "improved" (however you define it--schools, shopping, whatever yr priorities) as much as PS has in 30 years. Has it? Maybe it has -- your earlier post suggested the opposite.
3. Having said all that, I agree with your 11:18 post that the absolute dollar difference is now greater. I suspect that is why prices have been able to increase at the highest rates in the (relatively) lowest-priced neighborhoods. Because if you're buying at the lower end of the price range you have fewer options, and therefore it's easier to drive prices in that range up in a hot market. (Whereas if you have $2.5M to spend on a Slope brownstone your options are wider.)
None of this is to say that PLG is a bad place to live. Just that for someone trying to buy cheap now, the rewards for buying a cheaper neighborhood, in relative terms, are smaller than they used to be. (Or, the more money you've got, the better deal you get, nowadays.) I could probably say the same about plenty other perfectly nice neighborhoods. It just especially sucks to be a new buyer now.
I'm not sure I made things any clearer.
Posted by: linusvanpelt at March 20, 2006 12:22 PM
Anon 11:15,
Sorry--my 11:18 post wasn't a response to your post, which I read afterward. The Rutland Rd. house's price does seem to brake the 50% parity with PS I've written about. Whether the two houses (Rutland & 1st St.) are truly comparable is hard to say. I guess we'll have to see what the houses actually go for since the true value is determined by the market (although, at times, I wish these things were determined by something less inexplicable).
Posted by: Bob Marvin at March 20, 2006 12:23 PM
Linusvcapelt,
I think you got it right when you wrote that "it just especially sucks to be a new buyer now."
I long for the days of what the founder of the Brownstone Revival Committee, Evrett Ortner, described as the "school teacher's coup" where a couple at that relatively low income level could afford to buy a brownstone, renovate it themselves, and live like "millionaires" when that term actually meant something.
Posted by: Bob Marvin at March 20, 2006 12:39 PM
Am I right to calculate that President St. house at about $590 a square foot. Pretty good price of somehting that needs that kind of work no?
Posted by: greg at March 20, 2006 12:43 PM
Amen that, Bob. I guess these houses were not exactly built for schoolteachers and clerks, so that era was probably the anomaly. But it makes me hope the market would cool off some, just for the sake of people trying to get a foot in somewhere.
Posted by: linusvanpelt at March 20, 2006 12:49 PM
The only plus of the crazy market is that it is forcing a higher quality of people to move to the burbs and other places outside of the city. Whereas the burbs used to get the boring monied types, they are now getting influxes of editors, teachers, writers, artists, architects, designers, and so on. The kind of people that made Brooklyn cool and hip in the first place.
Posted by: Anonymous at March 20, 2006 2:29 PM
Here's what you just don't get linusvanpelt & Anon 11:15,
Those amenities that you keep going on & on about are just not that important to some of us. I like not having a bunch of restuarants luring strangers into my neighborhood. I like not being tempted by $5 coffee. Which is not to say that having a few nice restuarants isn't a good thing, but too much of a good thing is well...too much.
I prefer the ability to own my home without needing a tenant. It's worth the cost to have my daughter growing up with her cousins, aunts & uncles near. And while the museums, park & botanic gardens have always been there, I think like much of Brooklyn, they are now more appreciated.
Looking at the developements that are taking place west of the PLG side of Prospect Park, I don't think they're going to change any of those neighborhoods for the better. But I'm sure there will be increased amenities. Enjoy them.
Posted by: Anonymous at March 20, 2006 2:34 PM
anon 2:34 --
And if you're happy in PLG, enjoy it. My point was not that PLG is a good or bad neighborhood. It was to ask why PLG prices have appreciated (and maybe this is just my misperception) as fast or faster than places where "amenities" have improved more. (And PLG booster Bob M used the term "amenities" before I did.)
If you like not being tempted by $5 coffee, good on you. But you could have avoided that temptation in PLG 5 years ago or more -- so what is the *change* in the neighborhood that supports a greater *change* in the cost to live there? The houses are no more beautiful. The park didn't just get built.
You may be right (if I read you correctly) that the main change is that house buyers are more aware of PLG than they used to be. But the upshot is that -- even for those who don't care about "amenities," however you define them -- the discount for going without that $5 coffee place has decreased.
If not one person moving to PLG wants the neighborhood to change in any way, then it's a moot point. (Tho clearly from posts here and acrossthepark.typepad.com, some people who love PLG nonetheless care about shallow things like nice restaurants and grocery stores.) Otherwise it's valid to ask if the people buying these ever-pricier houses are paying for changes that have not yet materialized. And again, I don't think this phenomenon is limited to PLG -- far from it!
Anyway, I'm glad you love where you live, and now I'm going to go buy an evil expensive coffee with a bunch of soulless strangers.
Posted by: linusvanpelt at March 20, 2006 3:35 PM
The irony is (as I understand it from friends who live there), the beautiful homes (or at least the limestone row houses) in Lefferts Manors and vicinity were built for the middle class, and not the upper middle class--the teachers and clerks referenced above. Sadly, they are now very out of reach to any who would be looking to buy today.
Posted by: Anonymous at March 20, 2006 3:55 PM
Bob can speak to that I'm sure. But yes from what I've read the LM houses were built for the middle class as a cheaper alternative to Park Slope and other areas. The later stages of the development (the brick houses and Tudor houses) were for more working class types. Now that those houses are selling in the 900's, not too many working class types can afford them.
Posted by: Anonymous at March 20, 2006 4:15 PM
anon 3:55 -- you may be right about PLG. I was thinking more about the Park Slope brownstones that academics were buying in the 60s and 70s. Historically, PLG may have been quite a different story, tho I'd be curious to know for whom the 25-footer on Rutland was built.
Posted by: linusvanpelt at March 20, 2006 4:20 PM
Anon. 3:35,
I think Lefferts Manor was originally developed for people with incomes a little higher than school teachers and clerks. The $7,500 my house sold for in 1899 was real money then.I guess linusvanpelt was correct to write that the era of the "schoolteacher's coup" was an anomoly, especially when those very low prices applied not just to PLG but, slightly earlier in the '60s, to Park Slope, Cobble Hill, the Upper West Side, and so on.
Posted by: Bob Marvin at March 20, 2006 4:48 PM
Rutland is way overpriced. that corner is very busy and their have been shootings in that neighborhood in the past... PLG HAS NO AMENITIES. I think it will sell but for closer to 1.2... the house has no kitchen to speak of, and very little details. What are these brokers and sellers thinking??
In terms of the President Street house... my gut is 1.3 mil... try to get a mortgage from a conventional bank.. the house clearly needs $120,000 per floor in work or more... after you spend the $500,000 plus thousand to renovate you have a house worth 2.1.. This broker overprices everything.. She has the big elephant of a house on Montgomery in Park SLope for $7.5 mil.. that has been sitting for five months... should be closer to $4.5 mil..
Posted by: nancy G at March 21, 2006 1:11 PM
I am one of the "suckers" who is considering buying a house in Lefferts Manor for over $900K. The reason I'm doing so is quite simple: I can't find anything else close to PS in my price range of $850K. I'm obviously priced out of PS, unless I want a small 2 BR coop. Ditmas Park, which doesn't have many amenities either, is mostly over $950K. The back side of WT (on the other side of the expressway) has aluminum sided houses for my price or less, but, how can I say this tactfully, they sorely lack the beauty and charm of the LM limestones. I am overextending myself by offering $900K, I realize that I would have done better a couple of years ago, but unfortunately, I need a place now.
In today's market, when you're buying a house, your home, you don't have the luxury of making a reasoned analysis of how the houses *should* be priced. You look at what is the most you can get for your money, and you put in an offer quickly, hoping you don't get outbid.
So that's what buyers are thinking of when they pay a price that you'd never dream of paying!
Posted by: feelingdesperate at March 21, 2006 11:03 PM
Why are you a sucker if you buy a house in Lefferts Manor for $950K? Have you even seen the houses?
There are amenities in PLG. It's obvious Nancy G. just doesn't like black people. Sorry princess, go live elsewhere.
By the way, Lefferts has a great coffee place...
Posted by: ED at April 3, 2006 5:37 PM

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