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April 10, 2007

House of the Day: 518 47th Street

47thstsunset.jpgThis limestone house on 47th Street in Sunset Park looks lovely in every way — except for the price. Nice original moldings, fireplaces, floors, you name it. But given that this is only three stories and the kitchens and baths still need some work, $1.2 million seems like a pipe dream. Then again, this place definitely has enough character that some buyer burned out on seeing crappy places in the South Slope for the same price might just say uncle and hit the offer.
Sunset Park Limestone FSBO [Craigslist] GMAP P*Shark




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Comments

listing deleted by author

Posted by: Anonymous at April 10, 2007 12:09 PM

come on Mr. B. you were a Wall Streeter; how soon we forget...a buyer would LIFT the offer, a seller would hit the bid...

Posted by: Anonymous at April 10, 2007 12:16 PM

"TAKE the offer" would be both an acceptable Wall Street and Real Estate phrase as well

Posted by: Mike the Arbitrage Guy at April 10, 2007 12:52 PM

for those looking for under 1MM come to Bay Ridge (for example turn the 47 arround and get 74th st)....

Jabour has a house on the north side for ~749K same Limestoner (1910 vintage 20 x 50)like in above picture, my guess is its in average detail shape from my "looking in", I think its a 2 family

Bentancourt has a 20 X 40 from 1899 across the street (that side has some amazingly detailed houses) for 925K, prob will sell for 900 is my guess...

http://www.betancourtrealestate.com/page.cfm?page=details&id=1542

I live on the same block if anyone needs the house #'s

Posted by: Anonymous at April 10, 2007 1:19 PM

Most of what gets listed as "South Slope" is in Sunset Park anyway, so the distinction has become meaningless.

$1.2 is higher than the average price, but prices have steadily increased as in other neighborhoods. Fixer uppers are being sold at close to a million so if you spent money to fix one up, you'd be in for over a million anyway.

Posted by: Anonymous at April 10, 2007 1:47 PM

I don't see any such listing on Jabour - on the north side for ~749K same Limestoner (1910 vintage 20 x 50)like in above picture, my guess is its in average detail shape from my "looking in", I think its a 2 family

Posted by: Anonymous at April 10, 2007 1:49 PM

Trivial meditation on neighborhood boundaries:

I think a lot of what gets listed as South Slope is really Greenwood -- everything between the expressway and the cemetary I think of as Greenwood. The blocks between the cemetary and the BQE are ambiguous -- in the 20s I do not really think of them as SP, but in the 30s I do. SP proper starts on the south side of the cemetary.

As for this house -- seems v. expensive, considering that a similar sized house overlooking the Park was recently available for almost half a million less.

Posted by: SPer at April 10, 2007 2:29 PM

the jabour listing referred to above is under three family houses category:

http://www.jabourrealty.com/main/Detail.asp?ID=107&Agent=Wade%20Jabour

Posted by: help at April 10, 2007 2:35 PM

i need the betancourt house # please (and street).

thanks


Posted by: help at April 10, 2007 2:38 PM

The CL posting is gone.

Posted by: Anonymous at April 10, 2007 3:28 PM

That Jabour site has some brilliant broker blab on its single family houses link - the most expensive (overlooking the water) is called "the most premier"..! brilliant.

One wonders why he didn't call it the "mostest premier".

Or perhaps its just an admission that "premier" doesn't mean "premier" when used by a broker. In that case I'll expect to soon see the phrase "really luxury" to distinguish it from "luxury", which we all know means "standard".

Posted by: Anonymous at April 10, 2007 3:29 PM

That Betancourt house for 925 is gorgeous. For someone like me who doesn't want to do too much work, they did a great job - totally move in. Wish my husband would look in Brooklyn.

Posted by: Anonymous at April 10, 2007 3:38 PM

Other overused hyperbole? How about "gem" (better than average condition, but not much); "needs a little TLC" (gut city); "charmer" (pretty but small); "quaint" (pretty, but very small and needs TLC); "stone's throw from" (long walk to); "won't last" (someone left a voicemail about it this morning).

There are realtors who tell it like it is and don't blow smoke; it was always such a welcome relief when I felt like I was dealing with someone who was not trying to oversell. I guess the others must still feel this stuff works, although I can't imagine at the prices brownstone Brooklyn is commanding that there are too many unophisticated people in the market who are swayed by this stuff. Some of it is just laughable.

BTW -- anyone know why the seller pulled the ad?

Posted by: Anonymous at April 10, 2007 4:01 PM

I know this house, it's on my block. It's a very nice house and has some nice detail. 47th st above 5th to 6th ave is one of the best blocks here in Sunset Park. The asking price is on the high side but in the ballpark of what houses have been selling for here.

Posted by: Rick at April 10, 2007 4:16 PM

i'm guessing they pulled the ad to limit the amount of bashing on brownstoner when they were tipped off that it was being profiled today...

Posted by: anon at April 10, 2007 5:02 PM

It gets pretty brutal on here sometimes. But would that really cause someone to pull the ad and delay selling their house? Especially since the BSer feeding frenzy hadn't really started when he pulled the ad. That said, it would be nice if people could be kinder in tone.

Posted by: Anonymous at April 10, 2007 5:23 PM

nO WAY NO WAY NO WAY

Posted by: ron at April 10, 2007 5:44 PM

Ron, if you are kidding, fine. If you really believe that trashing people and their houses with a hostile tone serves some cosntructive purpose, would you at least enlighten the rest of us as to why you believe that to be so?

Posted by: Anonymous at April 10, 2007 6:03 PM

House on 74th--Just spoke with Jabour. The house is sold.

Does anyone know of a tool or formula one could use to figure out what her price range for a home is? Thus far, I have been looking for 2 family homes to help offset the morgage, but it would be good to get more specificity on what I should be looking manage on a monthly/annual basis.

Posted by: anon at April 10, 2007 6:28 PM

i believe the 925k house on 74th is 442....and the jabour 749k on 74th is not the link above

Posted by: Anonymous at April 10, 2007 10:20 PM

74th Street house looks beautiful. Even I personally prefer west side of 3rd Avenue. By just walking around the neighbor, I always see some sale signs in front of those kind of limestones. Many houses are not listed on website.

Posted by: Anonymous at April 10, 2007 11:47 PM

You do need to walk around in Bay Ridge - the houses don't all get onto NY Times or other lists. Lots of locals selling to locals in Bay Ridge, using local firms.

I'd prefer West of 3rd Ave in Bay Ridge too. Though it seems the big, freestanding, Victorians and New England style wood frame houses west of 3rd don't come up for sale very often. Their owners hang onto them. There are some gorgeous houses on gorgeous blocks down there.

Posted by: Anonymous at April 11, 2007 1:50 PM

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