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February 8, 2007

House of the Day: 464 Macon Street

464macon020707.jpg
It looks like the success of 100 Decatur has emboldened owners in the surrounding area. Today's house at 464 Macon Street, while certainly very nice, is a whole floor smaller than Decatur. Property Shark puts the square footage at 2,600 which, at the asking price of $899,000, comes out to about $350 a foot. The house traded at $750,000 back in September 2005 but it's unclear to us how much has been spent on the place since then. Not that it really matters -- the price will be what people are willing to pay. What do you think that will be?
464 Macon Street [Corcoran] GMAP P*Shark




Posted by Brownstoner at 12:17 PM | Comments (22)
Categories: Bedford Stuyvesant, Brooklyn, HOTD, Real Estate

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Comments

This is certainly not nearly as nice as 100 Decautr. Sheesh people can ask doesn't mean they will get. sigh.

Posted by: Anonymous at February 8, 2007 12:46 PM

Not a dreadful house, but last selling price of $750 is about right. Not worth $899, IMHO. Modern bathrooms with Jacuzzis in period homes are not a draw in my book. Would need to replace that awful front door asap. One could certainly do worse, but in this same area, you can certainly do better.

Please, it's only 15 minutes to the Broadway/Nassau stop (so technically Manhattan)if the train goes full speed and doesn't stop between Utica and Broadway/Nassau. Otherwise, let's get real. Your average commute to say, 34th St would be at least 45 minutes on a good day, to an hour.

Posted by: Anonymous at February 8, 2007 1:04 PM

This is a lovely block!! My attitude to purchasing a brownstone is you are going to have to rip out something... if it is a jacuzzi to put in a clawfoot, that is not going to stop me from buying a house if the location is good (this one is GREAT), and the price is right.

Posted by: Anonymous at February 8, 2007 1:16 PM

Nice looking house on a nice block. In fact there have been about five sales on this block in the last year. Very telling for the nabe. For years houses on the better blocks just didn't come to market often. The price seems like a bit of a stretch. I'd guess $825 max especially if there are some "leftover" buyers from 100 Decatur. This property was on Corcoran's site before Decatur so I don't think that buzz has anything to do with it being on the market.

Posted by: Anonymous at February 8, 2007 1:18 PM

That train is infuriating. Stops btwn Nostrand and Hoyt EVERY MORNING for far too long. Have also been marooned quite frequently. The infrastructure is pathetic.

Posted by: Anonymous at February 8, 2007 1:19 PM

I don't know the block, but from the pictures (not much to see) and the painted exterior, I think they are dreamin'.

Posted by: anonymous at February 8, 2007 1:29 PM

No WAY it takes 15 minutes to Manhattan (Broadway/Nassau) from there. Try it. If you can do it, but a lottery ticket.

Posted by: anon at February 8, 2007 1:31 PM

The delays/stops suck but it is only 5 stops from Manhattan--more like 20 minutes on a good, make that great, day.

Posted by: Anonymous at February 8, 2007 1:42 PM

45-50 minutes to midtown, pretty typical from almost anywhere in Brooklyn.

Doesn't look overly impressive, but depending on condition and appearance in person they may find someone who's interested in a cleaned-up building that doesn't scream needing tons of attention.

Posted by: Anonymous at February 8, 2007 2:30 PM

People need to wake up and realize that the bargain shopping days in this area of the B-Stuy are long gone...

Posted by: Anonymous at February 8, 2007 3:07 PM

Decent house, but deserves a considerable discount being only 3 stories. Brokers kill me with the claim that it's only 15 minutes to Manhattan from Bed-Stuy. I understood it in the days b/4 folks knew Brooklyn and redily assumed it would take an hour to get to Manhattan. But today, anybody that knows ANYTHING about the A/C line, knows it's only 15 minutes to the first stop in Manhattan if you're LUCKY. And if you work on Wall St., you have to Transfer to the 4/5 and that will take an additional 15 minutes. MIDTOWN??? You're lookin' at 45-50 minutes EASY.

G train to Queens then manhattan on the E/V is easier and quicker - to MIDTOWN that is.

Posted by: NewStoner at February 8, 2007 3:17 PM

Do any people making comments about the A/C take the subway from these stops? I take it from Utica most days and it is 13-16 minutes to Chambers St on most days. I make it to Penn Station (In Newark, New Jersey) in about an 1:10, including my 15 minute walk to the subway. Occasional stops about 2 or 3 times a month.

Maybe I'm just lucky though, because I take it relatively early (before 7:30).

I'd guess it would take longer from Clinton Hill, because it seems like there is one C train for every 2 or 3 A trains in the morning.

On the house though, I think it's overpriced by about $100K. Someone looking for a mortgage would not be able to get it appraised at that asking price.

Posted by: HC at February 8, 2007 3:42 PM

I think this place is a bit pricey at $899k. I'd like to think the house could get this much, as I have a 4-story on Macon one block over. But unfortunately, I'd have to say $775-$800 is about right for 3 floors. BTW, I do this commute every day and it's approx. 20-25 minutes to Manhattan on a good day. I work on Wall St but don't bother with the 4/5, as it's less than a 5 minute walk from Fulton to Wall. Taking the 4/5 down to Wall probably adds 5 minutes to the commute as the trains run every couple of minutes during rush hour.

Posted by: Anonymous at February 8, 2007 3:49 PM

I have always disliked the two-toned brownstone paint job.

Posted by: june at February 8, 2007 4:05 PM

I have always disliked the two-toned brownstone paint job.

Posted by: june at February 8, 2007 4:05 PM

Does anyone know if the seller lives in the building or is just a flipper? What work, if any was done?

Posted by: Anonymous at February 8, 2007 5:57 PM

It'll sell at ask. The remaining fools (dumb money) won't stop diving in 'til they hear "Armageddon" on the 6:00 news. They're out there - just few and far between.

Posted by: Anonymous at February 8, 2007 7:32 PM

I make it from Utica on the A to West 4th during rush hour in 22 minutes and in 19 minutes on weekends, been doing that for about a year. Bed Stuy is a great commute and the brownstones are some of the best in the city. I am so happy I opted to buy here and not drop a huge amount of money on some over-valued place in PS. Lacks in amenities but I have faith that that will change in the next year or so.

Posted by: Anonymous at February 8, 2007 10:36 PM

Amenities are on the way - noticed some new construction at the commercial space on Stuyvesant and Macon - was told it's going to be a Mexican food restaurant. Can't wait! Also love Petit Bassam on Lewis

Posted by: Anonymous at February 9, 2007 10:43 AM

bed stuy had a nice plug from crane's earlier this week. The amenities are in fact coming.

Posted by: Anonymous at February 9, 2007 3:32 PM

If the 311 Stuyvesant house is still available, I think it's a better buy than this one (the historic details are nicer). Both are nice houses regardless, and just goes to show that the nabe is no longer 'up and coming' - it's there, babe!

Posted by: Anonymous at February 9, 2007 4:54 PM

responding to 10:43's comment on petite bassam... unfortunately they've been closed for the past week or so with no indication that they're working on improvements. the sign just says something like "closed until further notice". the neighborhood services really need to get it together before people can truly justify paying this kinda dough for a house here. i think bed stuy is going to experience a correction in the fall and beyond with a ton of supply coming onto the market (i've noticed it even in the last 4 weeks!) and slow improvements to the services. if you look at the total package here, i really don't think it's worth it. people have to stop living like we're still in an up cycle.

Posted by: anon at April 20, 2007 9:54 AM

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