387 Hancock Goes Into Contract

Happy ending indeed, it is a beautiful house!

Posted by: Anonymous at November 28, 2006 10:31 AM

...for the seller.

Posted by: Anonymous at November 28, 2006 10:33 AM

... for both parties. The buyer got a great house and although I personally would not buy a place in Bed-Sty (I have a small child and schools and services are paramount) I have to admit the Hanson Place is one of the nicer blocks. Also, unless the buyer plans to move in the next 2 - 5 years she does not have to worry about the ups and downs of the market.

Posted by: Anonymous at November 28, 2006 10:50 AM

Why not the downs? Come economic downs, come crime. Magnificant house, but that location for $1M is consistent with the top of the overall market.

Posted by: Anonymous at November 28, 2006 11:29 AM

yes, the poor doctor is so ignorant of all which so many here are just so wise . she must have gotten duped because the real estate agent was just so much smarter.
her life is ruined, if she doesn't loose everything financially will probably loose her life.
while all the arm-chair pundits here will wallow in their millions 'cause they have the insight and foresight to buy right place/right time blah blah blah.

Posted by: Anonymous at November 28, 2006 2:49 PM

is this the first house to sell for over a million in bed-sty?

Posted by: Anonymous at November 28, 2006 3:59 PM

No, but I bet you can count such sales of brownstones on one hand. Somebody prove me wrong.

Posted by: Anonymous at November 28, 2006 4:17 PM

Most of the previous posters are missing the point of this purchase. The fact that this doctor plans to convert back to a single family tells me that this is not an investment purchase. She clearly intends to live there and not just flip it in a year or too for a quick profit. People most house purchases ARE emotional. The crazy bidding wars of the past year proves this. Some people just want a certain house for some reason that other cannot fathom and if they are able to, will pay to get it.

I think it is a bit condesending to assume she is an idiot becasue she agreed to pay $1m for this house. Maybe she has some emotional connection to Bed-Sty and really wants to live there.

Also, why does a nabe have to be gentrified to be "desirable". There are people who have live, will continue in Bed-Sty. Frankly unless you have kids that need to go to a nearby public schools or laothe that idea of having to commute to the supermarket (like me), Bed-Sty has some great housing stock and is very well located for public transportation, and last time I looked the residents were not running around and shooting each other down in the streets.

Posted by: Anonymous at November 28, 2006 4:34 PM

I'm a previous poster. I get the point. But I had a point of my own to make - it's a happy ending for the seller (But not yet. Have to close first). It's not easy for anyone to sell a brownstone in the heart of un-landmarked Bed Stuy for $1M.

But it's sure as hell easy to buy one because the market knows that in about five years she may not be so happy if the market drops and her brownstone (or a bigger and better located one) could have been had for say $750K in today's dollars. Ownership in a home doesn't end (happily or unhappily) until you transfer the deed or live out your life.

Posted by: Anonymous at November 28, 2006 5:13 PM

Anon 5:13, the second paragraph of your post does not make any sense. Please clarify.

Posted by: Anonymous at November 28, 2006 5:23 PM

Just moved three blocks to the east on Hancock and Stuy. Just met the guy who bought the beautiful brick house on the NW corner of the street and took a tour of the inside. It is being converted to three apts inside and will be unbelievable looking. And on the opposite corner, the bombed out building was just bought and is supposed to be turned into 7 condos. The 'hood is getting hot.

Posted by: Anonymous at November 28, 2006 5:25 PM

Well said, 4:34, but Food Town isn't all that bad. It's a beautiful house in a beautiful neighborhood. I'm sure all parties will be happy. Unless of course, they have attitudes like some of the posters here. Then of course, they'll never be happy in life.

Posted by: Anonymous at November 28, 2006 5:30 PM

Right on, 5:30! As for those miserable types who post nasty, snooty or elitist comments about less-gentrified neighborhoods like BS and PLG, I'm always like, "I'm glad you don't like PLG, don't buy here, please stay away" when I get a glimpse of their personalities. Yuck.

Posted by: Anonymous at November 28, 2006 6:24 PM

I was the one commenting on the width of the house. No condescension intended, but dealing with that type of space, no matter where the location or what the condition, even as a one family, requires extremely careful room groundplans and a lot of planning ahead to avoid getting claustrophobic fast. Not that I'll "never be happy in life" - I'm quite happy, thanks. One of the reasons is that, having lived in a space like this many years ago, I realized that my happiness required a wider building with a little more legroom. Chacun a son gout.

Posted by: Anonymous at November 28, 2006 6:29 PM