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January 22, 2007
371 Hancock Gets Its (Reduced) Price
After two price reductions (from $1.1 million to $995,000 in the early summer and another to $935,000 in August), the detail-icious brownstone at 371 Hancock Street finally sold for $931,500 in November, according to Property Shark. This flies in the face of some of the comments that were made in August like "Still overpriced...It moves at $850K tops" and "Many more appealing properties to pay close to a million for in the area." Quite of vote of confidence for The Stuy!
371 Hancock Street SOLD [Corcoran] GMAP P*Shark
Brownstone Breakfast: Price Cut on Hancock [Brownstoner]
HOTD: 371 Hancock Street [Brownstoner]
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Comments
What ?
no1 compaining about how overpriced this house is in bed stuy yet ?
bed stuy has been undervalued for yrs . Yea it's got bad point's but . Even the sceptics have to admit that BED STUY has and is comming up .
Posted by: eletricgreek at January 22, 2007 11:10 AM
I tink the 850K might have been in response to the ridiculous 1.1 mill. I see its settled at a more reasonable price.
Posted by: Anonymous at January 22, 2007 11:16 AM
Four yrs ago when i bought my first 4 story brownstone in bed stuy for 490k everyone thought i was crazy .
most of my " friend " laughed at me . funny how times change . those same " friends " aren't laughing anymore
Posted by: eletricgreek at January 22, 2007 11:36 AM
A house is on the market for 6 months and then finally some idiot comes along and pays close to asking. People see that as "a vote of confidence" and evidence that an area is "coming up"? All that is evidence of is that some people are stupid.
Posted by: Anonymous at January 22, 2007 11:39 AM
Wow, even after it's sold and the price has been confirmed, the haters still have to find a way to bash the Stuy.
Granted the $1.1MM price was a bit reaching, but to say that after receiving a 15% price cut it's "stupid" is a bit over the top. I think after a while it settled into an appropriate price range. Maybe it just wasn't for you is all.
Five years from now, hopefully Mr. B. will be able to give us some perspective from the Archives!
Posted by: NewStoner at January 22, 2007 11:51 AM
So, 11:39, a place has to sell with multiple offers in order to be legit? Have you ever been anywhere else in this country, or only NYC and L.A.? Everywhere else outside of NYC and L.A. it is not uncommon at all to sell a property and only have one offer. It only takes one offer. And if the seller can afford to wait until that one offer comes in at the price they want, then they hardly care what you think of how long it took, I'm sure. Everyone has to remember not all sellers are desperate to sell, with a deadline. If a seller is a retiree for example, then they're going to hold out for more money.
Posted by: Anonymous at January 22, 2007 12:01 PM
the only people who don't want to admit to the changing neighborhood are the ones that didn't buy when it was cheap cause its the ghetto. Now its too expensive for them to buy or rent so they are upset and think its insane to pay such high prices for these beautiful homes.
Posted by: Anonymous at January 22, 2007 2:21 PM
right - its too expensive to rent in bed-stuy. Now who is being ridiculous. Bed Stuy still is cheap at these pricesa, whether you're buying or renting.
Posted by: Anonymous at January 22, 2007 2:42 PM
The Hate just won't stop!
Posted by: Anonymous at January 22, 2007 3:01 PM
anon 2:21 is right . Most of the Bed Stuy bashers are the ones who wished they bought . Granted bed stuy is very big . Parts of it will take 20 yrs to change ,but ive seen a enourmous change in the 4 yrs ive owned there .
Posted by: eletricgreek at January 22, 2007 3:29 PM
I'm a tenant in this very home. Truthfully, the pictures don't do it justice.
Posted by: anonymous at January 22, 2007 3:45 PM
anon 3:45
Would you mind sharing your situation?
Size of the apt? Floor-thru?
Monthly rent?
Distance to the closest train?
Posted by: Anonymous at January 22, 2007 4:06 PM
I suppose I'm a "Bed-Stuy Basher" but I am glad that plenty of people like it there -- enough of those people move in and it actually will be a decent place to take a stroll through. 11:39 -- the simple fact that someone paid nearly a million bucks for a house in Bed-Stuy IS evidence it is "coming up" -- whether or not the buyer is stupid. There are only so many people who can afford to spend a million bucks on a house before a neighborhood takes a step forward.
Posted by: Jeremy at January 22, 2007 4:18 PM
Anon 1139 must of wanted it but he or she can't afford it.... you cant afford it.... sing it me ;-)
Posted by: Anonymous at January 22, 2007 4:29 PM
before a neighborhood takes a step foward ??
Let me ask you something . What was the defining moment for Park Slope ? 1994 when the first brownstone sold for aver 1 mil .. see the pattern?
Posted by: eletricgreek at January 22, 2007 4:30 PM
Now if we can get a decent restaurant in Bed-Stuy....
Then we'll have it made!!!
Posted by: NewStoner at January 22, 2007 6:16 PM
Hi Guys,
I lived at 371 Hancock St and I remember reading this board when the house was for sale. The comments were nasty, racist and just plain ignorant. As I remember, the Board almost crashed and burned because of the comments. The house is really beautiful, and somewhat larger on the inside than its appears. The height of the top floor is about 9 ft with a slight decline in the front but the top floor was really charming and cozy. Let me clear some misstatements on the Board. First, the house was on the market from May until August. Once the offer was accepted, it took about two months to close. Second, the people in the Bed Sty community were wonderful. I knew more people in the year I lived there than in the 10 years I lived in Fort Greene. Moving was for personal reasons and had nothing to do with the Community. Third, the person who purchased the house is not stupid. I think the individual is very intelligent and would love to have his/her resources. People who spend that amount for a house tend to have a clue about money.
Bed Sty is a nice place and has some beautiful homes. Granted there are some parts of Bed Sty I would not live in and there are some negative elements but the Hancock block was nice. The amenities have not arrived in the area and I really missed the restaurants and other things. However, if you’re looking for a nice place with some beautiful houses( that are priced reasonable) you may want to check out the area. As for the nasty comments, I wonder how many of those people have actually visited the area. I remember all the people who said the price was crazy and the house was worth only $700K at the most. Granted the $1.1 million was somewhat of a stretch but the house overall sold for a good price and the seller got a beautiful house. While I like this Board overall, the items that generate the most comments appear to be discussions about “fringe neighborhoods” which often contains a large number of people of color. The comments become racial and demeaning and are somewhat useless. I guess this generates traffic and hits for the Board in the short-term but in time this is going to kill the Blog. Regardless, people should be able to disagree without demeaning each other.
Posted by: anonymous at January 22, 2007 7:27 PM
Dear Jeremy,
Bed Stuy is already a ‘decent’ place to stroll and has been for a while now. I guess for some people 'decent' doesn't mean the beautiful and well maintained brownstones on McDonough, Macon, Halsey, Hancock, Jefferson or Putnam or black owned cafes, restaurants; it means the amount of white faces with strollers and white-owned business you see while walking.
What is becoming very apparent about what is going on in certain areas and on Brownstoners.com is that there are a group of elitist/segregationists who think that because they have money they can eventually force change. This issue is just a much class as it is racial.
Some of my friends have become discouraged with Brownstoners.com because of the elitist crowd it has attracted, but I thank Mr. B for creating this site that is exposing how superficial brownstone Brooklyn is becoming.
Posted by: Spread the Love at January 22, 2007 9:57 PM
Re: nearby amenities, there is quite a nice Caribbean restaurant called Brook's Valley that just opened at Hancock & Tompkins a block away from this house. I always see people in there so I think this place will make it. The food is delish - I eat there all the time. The whole retail block on Tompkins btwn Hancock and Jefferson is really charming now, with two designer-based clothing boutiques, two antique shops, and a newly expanded home design store called Ibo Landing that was featured on HGTV. So yes, the neighborhood still needs some amenities, but they're comin'.
Posted by: anon at January 23, 2007 12:10 AM
Dear "spread the love",
Its not about color of the skin - its the attitude and behavior of the people that defines a person. I live on Halsey street and have some great neighbors - some of the new ones are black. So anyone that can afford to spend a lot of money to buy a house and make a home, it would seem that they have their act together. They have responsibilities that they address everyday. On the other hand that trash that hangs out all day, loitering, spitting, lound noises, public urination, littering, etc seem to be predomonantly of one color. So if you are offended - that is your problem. The community of Bed Stuy has lot of members from different backgrounds that strive to make this neighborhood a better place. Its the trashy element that takes offense to this change feel that there is a element of segregation here. Have you made any efforts yourself to try and better this neighborhood? Have you told your kids and friends that its rude to throw garbage out on sidewalks or back your car up all the way on the sidewalk till you hit the fence? Maybe you should consider your environment and others around you rather then being self centered.
Posted by: Anonymous at January 23, 2007 9:45 AM
I just found out about Ibo Landing. Good grief their prices are high... But the stuff they have is AMAZING!!!
The retail part of Tompkins is great tho'. I got a bunch of things from the antique store, and a good friend of my wife owns the trendy clothing store next door.
I actually don't mind the Bed-Stuy hate. Mainly because those haters make it apparent that they wouldn't make for very good neighbors. :-)
Posted by: Anonymous at January 23, 2007 9:46 AM
Anon 4:06
The apartment is a two floor share. My roommate and I occupy the 2nd and 3rd floors and the owner has the garden and parlor floors. Monthly rent is very fair for what we get, but we understand that it is above market for the neighborhood. The entire apartment is roughly 1500 square feet (including staircase).
Anon 7:27
Thank you for your comments about the house. It was obvious when my roommate and I first arrived that there has been a lot of love put into and preserved in this home.
Posted by: anonymous at January 23, 2007 10:48 AM
I turned off the computer for the day and got attacked over and over!
Dear 4:29, I, the hated author of the 11:36 comments, own a brownstone worth at least 3 mill, so I could theoretically buy 3 of these houses. People who try to negate comments by questioning the poster's motives are truly pathetic.
Why do you pathetic people think that any comment about the market makes the poster a "hater"? I like Bed Stuy. I don't think this sale reflects the current market. There's a big difference.
One sale tells you what one person thinks the market is. Multiple bids or a series of similar sales tells you about the market. Many houses sell way over market because one buyer fell in love. When 4 similar houses sell in this price range or above, then you can all sing and dance.
Posted by: Anonymous at January 23, 2007 11:52 AM
Anon 11:52 - AKA HATER,
There have been several houses (on that block even) that have sold for over $900K.
So what's your issue? Who cares if you own a $3MM house? The point is you speak in a condescending tone in regards to this neighborhood.
Not necessary. To call someone an IDIOT? There's a slim chance that YOU yourself could be the idiot for intent and purposes.
Keep your whack, hateful comments to yourself. You were probably one of the oringal posters back in October screaming that the place wouldn't sell for over $750K. And now that it has, you want to call the purchaser an idiot.
How do you know there weren't multiple offers? How do you know that there weren't a couple of potential buyers that maybe couldn't get the financing done?
You don't. So just keep your trap shut.
Posted by: Anonymous at January 23, 2007 12:01 PM
white supremacy. we really need to stop calling stuff "racism" because that word is far too vague. white supremacy nails it.
Posted by: Anonymous at January 23, 2007 12:23 PM
To the 3 million dollar hater,
Tisk tisk Isnt it a shame that you cant just crack open your walls and take out some of that juicy equity without going through the motions?
I'm pretty sure the home you're claiming was once in a neighborhood that was crime ridden.
So at this point there's no need to spread the hate kindly spread the good news :-P
Posted by: Anonymous at January 23, 2007 1:36 PM
AMEN! 1:36
Posted by: Anonymous at January 23, 2007 2:25 PM
To anon 12:23 pm
You can call it white supremacy, racism, etc - whatever you want but only in the black community do they look down upon anyone who does better then everyone else and calls them whitey wannabe
Posted by: Anonymous at January 23, 2007 2:53 PM
Cry me a river.
Haters come in all flavors.
Posted by: Anonymous at January 23, 2007 3:52 PM
Can Someone tell me what the Idiot @ 2:53 is talking about??
Sheesh!
Posted by: anon at January 23, 2007 6:08 PM
Hey NewStoner-
How about Petit Bassam, Solomon's Porch, Brooks Valley, Bread Stuy, Food4Thought, Shakoor's Sweet Tooth, etc. (not to mention the mysterious space on Macon & Stuyvesant... anyone know anything about what's happening there?)
...and as far as all the blah blah blah about whether things are "coming up" in BedStuy and what it's "worth", they obviously are coming up and the neighborhood is "worth it".
If you saw the neighborhood 6 years ago, you wouldn't recognize it now... or to illustrate my point, how many of you out there remember Williamsburg back when Diner was the only "decent" restaurant out there?
Posted by: Anonymous at January 30, 2007 4:43 PM
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