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February 23, 2007

Joke of the Day: Red Hook New Build for $1.8 Mil

rhripoff022207.jpg
We've heard of going fishing, but this is ridiculous. This recently built three family house in Red Hook has to be one of the biggest jokes we've seen in a long time. Completely devoid of any character or quality, the house has an asking price of $1,800,000, at least double what it could be worth. Better yet, the broker describes the house as "priced to sell." Hah! Who in his right mind would even go look at this?
$1800000 Just Built Three Family [Craigslist]
Brand New Beautiful Three Family [Red Hook Realty]




Posted by Brownstoner at 10:40 AM | Comments (41)
Categories: Brooklyn, Properties, Real Estate, Red Hook

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Comments

So do ya think they're gonna put 'Featured in Brownstoner!' in the ad now?

Posted by: stacy at February 23, 2007 10:58 AM

This is almost as bad as the horror on Wolcott and Richards - but those are priced aggressively at half the price.

With construction like this and outrageous prices, this neighborhood is going to hell in a handbasket. Residents don't want IKEA and certainly not crap like this.

I'm moving to Fort Greene.

Red Hook Realty is located in Rockaway Beach. Why do they have a presence in this neighborhood?

Posted by: Red Hook Gentrifier at February 23, 2007 10:59 AM

The agent's kinda cute...where are the pictures of the front of the house?

Posted by: Anonymous at February 23, 2007 11:01 AM

Ya Know, this could very well be a good ploy. Rediculously price your property.... Wait 'til Mr. B. gets wind of it and slaps it up on the sight.... A bunch of folk call the office to inquire "Are you serious with this price???"....Then the broker says..." Tell ya' what I'm gonna do.... I'll give you a 45% discount.....".... " Sold... for $990K.

$90K above what it's really worth!
Good Grief!

Posted by: NewStoner at February 23, 2007 11:01 AM

Browstoner you are out of touch. You think you can buy a twenty five foot three family on a 100 foot lot in Red Hook in 2007 for under $900,000? You've got to be kidding me? What do think you would pay for such a building $700,000? The land alone is worth $500,000. I understand your point about the quality of construction, but do you think the building is only worth $200,000? Maybe you should research the comps a little more.

Posted by: Anonymous at February 23, 2007 11:04 AM

Does anyone know what this building looks like? Plans? It sure sounds like a joke, question is how big of one!

And, Gentrifier, you're not safe in Fort Greene. Check out the home page, Red Hook Realty serves Fort Greene, as well as Williamsburg and Bushwick (but not Greenpoint or Clinton Hill, go figure). (And not Rockaway Beach either!)

Posted by: Halden at February 23, 2007 11:04 AM

Mr. B,
You're sounding more hysterical and knee-jerk (like many of your commentors) these days. Rushing to judgment and really opinionated.
Based on a few photographs, without exact address or size of bldg. jumping to all sorts of conclusions.
How you tell 'quality' on these photos?
It is possible that (not saying it is just that might be) not far off price-wise? If this is 25x100 ft lot - Is it at least possible that this bldg. with private parking is priced at $300 sq foot? (2.43 FAR ?) I don't know if is... but seems you are quicker than usual to mouth-off these days.
Would $300 a foot for new construction seem "at least double what it could be worth"?

Posted by: Anonymous at February 23, 2007 11:08 AM

Time will tell...

Posted by: brownstoner at February 23, 2007 11:13 AM

How could this building be worth less than $150 a square foot?

Posted by: Anonymous at February 23, 2007 11:18 AM

In addition, it looks you will get an occupied building since the same photos are used for one of agent's rental listings.

Posted by: Anonymous at February 23, 2007 11:20 AM

Brand new 3 family homes are hard to come by but if the broker is willing to put a little more effort into getting to know the buyer, I think a deal will be made prematurely. The fact of the matter is, she'll need to prove she's a cat in the sac as we all assume to be true from that picture.

Posted by: ClintonHilly at February 23, 2007 11:35 AM

This is insane. This is why I think architects should be screened by the city before they are able to throw up buildings. This building is not only boring and plain, but it reeks of cheap. The price boils my blood. These brokers should be hunted and burned for even trying to rip people off like this. Bob from Flushing is mad.

Posted by: bob from flushing at February 23, 2007 11:37 AM

There is a certain arrogance that goes along with listing a property for such a price in an area that rarely, if not never, has seen that kind of price for a listing, and for obvious reasons.

I am curious to understand the justification, or tactics, behind such a listing. The information from the Craigslist ad and the broker's web site just make it appear ridiculous. I love shopping at Fairways, but that's not enough. Is there something we are missing here?

(Yes, you can interpret that question as rhetorical.)

Posted by: Anonymous at February 23, 2007 11:40 AM

Youre kidding, right? Over $2MM asks are common in Red Hook now.

Posted by: Anonymous at February 23, 2007 11:54 AM

Glad that the house is "central to the crusie ship terminal". You never know when you might want to pop out of the house for a quick cruise.

Posted by: Anonymous at February 23, 2007 12:03 PM

NewStoner is on it...why waste space here on the absurd and focus more on some "value" plays in Brooklyn...like the Windsor Terrace stuff the other day....or any other decent Red Hook properties for that matter. All you are doing is encouraging bad behavior.

Posted by: Brownstone Dreamin at February 23, 2007 12:07 PM

making the price is in turkish lira ...

Posted by: Anonymous at February 23, 2007 12:22 PM

oops - meant to say "maybe" not "making"

Posted by: Anonymous at February 23, 2007 12:24 PM

You go Mr. B... It's your site and you can comment however you want.. that's the beauty of owning your livelihood.. love the site.. love the opinions...

The people whining about it are the brokers...

Posted by: Anonymous at February 23, 2007 12:32 PM

"The people whining about it are the brokers..."

Talk about hitting the nail on the head!

Posted by: Anonymous at February 23, 2007 1:13 PM

While I wholeheartedly agree that the asking price for this property is ree-diculous, I'm not sure I understand why Brownstoner and some of the commenters here are badmouthing this particular property. You guys are always entertaining overpriced propery - that's kid of what binds all of us readers together - we're the type who'd consider overpriced properties in Brooklyn. I'm not sure what makes this particular proposal silly...most of what you all entertain is silly to me. And in the true spirit of separating fools from their money that is the mantra of NYC, I bet you some idiot will pay close to this asking price for this property(as some of the comments suggest).

Posted by: The Mad Investor at February 23, 2007 1:25 PM

NO MUCH OVERPRICED THAN EVERYTHING ELSE IN THIS MARKET.

AHHH...EUPHORIA

Posted by: Anonymous at February 23, 2007 1:25 PM

popping out of the house for a quick cruise is a VERY FUNNY! statement.

Posted by: june at February 23, 2007 1:27 PM

If you think that price is a joke how about these killer listings:

http://www.fillmore.com/View_Listing.asp?Lid=361-712003
2 FAMILY, STORE PLUS 2 GARAGES for $2,650,000

http://www.fillmore.com/View_Listing.asp?Lid=361-712005
2 FAMILY DETACHED PLUS STORE for $2,500,000

these make that 3 family look like a bargain. it's insane!

Posted by: kitten at February 23, 2007 1:50 PM

ooops, sorry about the links...

how's this instead?
http://www.trulia.com/property/1031091199-383-Van-Brunt-St-Brooklyn-NY-11231
http://www.trulia.com/property/1031091230-300-Van-Brunt-St-Brooklyn-NY-11231

Posted by: kitten at February 23, 2007 1:56 PM

Here's a one family for 1.195

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=947084

Posted by: Anonymous at February 23, 2007 2:04 PM

" Glad that the house is "central to the crusie ship terminal". You never know when you might want to pop out of the house for a quick cruise. "

HILLARIOUS!!!!

Posted by: NewStoner at February 23, 2007 2:19 PM

so anyone know address or what block this is?
so can look up size of building.
No matter all your trashing - makes big difference if this is 3 family and 1500sq ft total or 3 family and 6000sq ft total space.

Posted by: Anonymous at February 23, 2007 2:24 PM

In view of these overpriced duds, I now understand why buyers are flocking to more architecturally significant nabes on the fringe, like CHN, PLG and Bed-Stuy, to scoop up real tresures at half the price. The prices in Red Hook are insane!

Posted by: Anonymous at February 23, 2007 2:24 PM

WOW (wonders of the world) - to me, those listings/prices in Red Hook are just out there.

I have a suggestion for this web site. I would like to see an ongoing feature that would have a table that would list of all the properties commented on with columns indicating when the properties were sold and for how much.

Like brownstoner says "time will tell..."

But then again, the proof is in the pudding.

Posted by: Anonymous at February 23, 2007 2:26 PM

Re: the cruise ship comic dimension, this house is funny. Look at the kitchen floor. What kind of bent consciousness would come up with a floor like that. That is like the clown in a plaid suit with a spinning bow tie or squirting carnation. It's either funny or horrible or both.

Posted by: donatella at February 23, 2007 3:33 PM

Dang! I'd pay $1.8M just to get close to that agent! Man is she a hottie!

Posted by: Anonymous at February 23, 2007 7:33 PM

not really.

Posted by: Anonymous at February 23, 2007 9:27 PM

Why possibly is anyone interested in your comments on the physical attributes of the realtor? Grow up - and take your sexism back to curbed.com

Posted by: Anonymous at February 24, 2007 8:40 AM

I think the previous posters scared the agent (and I don't blame her one bit - some of you guys act like 8th graders.)

her picture has been removed from the website!

Posted by: Anonymous at February 24, 2007 12:27 PM

Has anyone taken the time to research the cost of properties in Red Hook? Obviously, NOT! Prices are accurate! 15-20x the rent roll is common for an emerging neighborhood...if you don't like the prices, I'm sure that Staten Island can accomodate your interests!

btw, I am an owner who is selling...name your price.

Posted by: g$$ at February 24, 2007 1:35 PM

Brownstoner is very knowledgable about the block by block prices in fort green and clinton hill, but woefully uninformed about the prices in red hook.

Posted by: Anonymous at February 24, 2007 4:41 PM

What's even more of a joke is these sorry-ass listings that these real estate "professionals" are trying to pass of as hard work for their clients. 4 photos? No exterior shots? No pic of the living room, driveway, yard? I've seen more descriptive listings for $50 shoes on ebay. This listing tells me absolutely nothing and just opens up the property for extra criticism.

Not to criticize only the agent here - Others are equally guilty of not playing to the desires of buyers to see the merchandise. But you'd think that especially for a property in a still sketchy area seeking to close well above market rate that the agent would make a decent effort.

Posted by: Anon at February 24, 2007 5:35 PM

To their credit, at least they appear to have used a decent camera. (Nikon D200)

But wait! The EXIF data also shows that they only spent about 3 minutes taking the pics.

C'mon - they dont actually expect to get nearly 2 mil for this place with that kind of shoddy effort, do they?

Posted by: Anon at February 24, 2007 5:47 PM

Okay, okay then...I have an honest request for the folks supporting the pricing of this listing:

Please provide exact comparables to support this cheap build-out listing at this price.

I say "cheap" because the pictures indicate cheaper / inferior finishes along the lines of a discount Home Depot route, not luxury finishes or craftwork. Rooms looks smallish with low ceilings, in spite of all the bold claims of wide spaces inferred in the listing text.

And, they're hiding the location and any photos of the exterior, which definitely leads one to assume the worst (as is often the case in such ommissions).

I don't mean to offend here, just looking for comparables to back the claims made here about why this is worth any more than $800k.

Posted by: webster at February 24, 2007 11:23 PM

Here are more pics of it, btw...

http://tinyurl.com/29wdb5

Posted by: webster at February 24, 2007 11:26 PM

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