« Condo of the Day: 226 Richardson Street MAS' Boat Ride Along the Brooklyn Waterfront »

June 14, 2007

House of the Day: 79 1st Place

79_1stplace.jpg
What's the highest price for a brownstone in Carroll Gardens to date? The reason we ask is that today's House of the Day may be a contender. The five-story, 25-by-64-foot house at 79 1st Place has held onto its architectural detail much better than a lot of the places in the neighborhood—at least on some of the floors. It's not all moldings and marble: Since it's a five-family, there's been some fall-out from chopping the place up and some of the rental space doesn't look quite as nice as the parlor floor. But still, you're looking at 6,400 square feet in an increasingly desireable location. Is the asking price of $3,950,000 realistic? $700 a foot for a place that's going to cost more to convert back to a two- or three-family (no single family needs this much space!) seems a little high to us.
79 1st Place [Douglas Elliman] GMAP P*Shark




Posted by Brownstoner at 1:29 PM | Comments (29)
Categories: Carroll Gardens, HOTD

Trackback Pings

TrackBack URL for this entry:
http://www.brownstoner.com/mte/mt-tb.cgi/1375

Comments

It is more like 8000 sq. ft., so at $500/ sq. ft. this is a hell of a bargain, I'd say. BTW, places in Carol Gardens have gone for more than this.

Posted by: Anonymous at June 14, 2007 2:10 PM

agreed. This block is beautiful.

Posted by: hola at June 14, 2007 2:20 PM

yes, totally reasonable. Note that I think this market is on crack; prices are way higher accross the board than reason can bear.

Posted by: Anonymous at June 14, 2007 2:20 PM

while the price per sq ft is good, i doubt a individual will buy it. that's a big job, that'll cost a lot on top of the $4 for the house. this will probably go to developer at around $3.5 or less. a building this big can even fit an elevator which will give it a leg up on most brownstone conversions. but you can get buildings this size for the same price in manhattan. will this palce come vacant?

Posted by: anon at June 14, 2007 2:24 PM

do you smell condo conversion with large floor plan like that?

And - all these houses too tall. Out of context in 'hood of 3 and four story. Should be required to chop off top floor. Only 1 floor less than 360 Smith St Scarano proposal. :)

Posted by: Anonymous at June 14, 2007 2:25 PM

The house on the corner of Court and Carroll which has some commercial space is listed for either $5 or $5.5 million

Posted by: Anonymous at June 14, 2007 2:36 PM

i'd rather spend my $4 mill on this place.

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=987875&ohDat=

you'd have cash left over and could move right in.

Posted by: anon at June 14, 2007 2:52 PM

There was a very successful (all sold within 2 months) Condo conversion of a 5 story Brownstone on Carroll Street across from the park. They sold out this past spring. Corcoran repped it. Also there is another 5 story brownstone condo conversion at 100 2nd Pl. I think the prices on all these units have been in $800/900 per sq ft range.

Posted by: Anonymous at June 14, 2007 2:57 PM

Condo Conversion definitely.

100 2nd Place
http://riggnyc.com/100/

Posted by: Anonymous at June 14, 2007 3:09 PM

Anon at 2:25, assume you're joking.

This is among the most beautiful blocks in all Carroll Gardens and I am delighted to live on it. The houses on this block are amazing.

Mr. B, one down the block closer to Court is currently getting a gut reno, which i suspect is for condos, but do not know for sure.

Posted by: Gary at June 14, 2007 3:10 PM

Re: Henry St: " http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=987875&ohDat= "

Wonder how they got the studio outbuilding in the rear yard setback? I'd ask for a price reduction for the illegal building back there.

Posted by: Anonymous at June 14, 2007 3:13 PM

I think this block is one of the most beautiful in Carrol Gardens. The houses although big, are all similar size, so you don't have the feeeling that any are out of place.

As for the price, I am amazed at everything in Brooklyn. Two years ago, everyone said the market was slowing down, well apparently that was just a hiccup, because it seems that prices just went up again. and this occurred despite great increases in interest rates and a slowing economy. I can't afford it, but not everyone should be able. Nonetheless, I suspect that many of these prices are being sustained by European buyers who are taking advantage of the weak dollar. Maybe prices will change when a democrat takes office and Bush's monetary policy of devaluing the dollar is scrapped. But then again, who knows, I thin Browstones should sell for $10 million, they are beautiful and unique, who cares if no one that actually lives in the City can afford them.

Posted by: Amazed at June 14, 2007 4:23 PM

echo una casa.
Non e certo?

Posted by: Dante at June 14, 2007 4:56 PM

Carroll Gardens seems like the hottest area right now. I can see why with Ps 58 becoming a great school up there with 321 and 29 , i do not see why they cant get close to the asking price. What i have noticed about the area of carroll gardens and Cobble Hill is the friendly people and the area feeling like a real brooklyn neighborhood. Just my take on things, but over the long run i think this area will be worth it .

Posted by: ronman at June 14, 2007 5:43 PM

I also think henry street and clinton street are beautiful streets to.

Posted by: Anonymous at June 14, 2007 5:47 PM

I love Carroll Gardens, I used to live their years ago. The only sad thing is that a lot of the exterior (and often interior) historical detail of the buildings has often been stripped in past efforts to maintain the buildings. I never noticed this so much until I moved to FG and Clinton Hill. In FG/CH, that was primarily because the area became quite poor pre landmarking so little maintenance was done that would have potentially removed lintels, plasterwork etc.

CG is great though. Just an observation.

Posted by: lp at June 14, 2007 6:03 PM

Bear and GS missed earnings -- will start laying people off to compensate.
citi axes 17000 people starting soon.
bye bye bonus

Posted by: Anonymous at June 14, 2007 6:50 PM

But CG is mainly middle class brownstones, and FG/CH has all the mansions, so it's way more interesting architecturally.

Posted by: Anonymous at June 14, 2007 6:53 PM

interesting or not i feel much safer and much more resturants and kids things in carroll gardens cant argue with that

Posted by: Anonymous at June 14, 2007 7:56 PM

Oh man, I LIKE modern interiors but that Henry St reno is cold. And enjoy the construction noise on weekdays for at least another year (backs on Strong Place Church future condos!)

Posted by: Carol Gardens at June 14, 2007 8:13 PM

This is an unusual house in that it really does seem too big for one family (unless someone is looking for a showcase mansion). And the buyers for this kind of thing seem to be either rich families looking for their own house, or developers looking to make condos. So it is more likely to be condos. And by the time you spend money renovating, you have to sell each floor for well over one million. Which apparently is the going rate now, but no matter how you divide up these spaces, due to lack of windows, you only get 2 bedrooms (albeit large ones) from each floor. And it's alot to pay that much for only 2 bedrooms.

You could duplex 2 floors and make a large 3 plus bedroom home, but will buyers really pay 2.5 million for a condo when they can buy an entire brownstone (although only a 20-footer) for the same price?

Also, did anyone else notice that the floor through apartment bedrooms have one very large room, and one very small one (only 7 1/2 feet wide). One of the advantages to having the 25 footers is you can get 2 nice size bedrooms from it, but not in this one, so the buyer will probably end up having to move all those walls.

Posted by: Anonymous at June 14, 2007 10:33 PM

Dante:

It's "Ecco" una casa.

Posted by: Beatrice at June 15, 2007 10:42 AM

To "Amazed",
Bush does not set monetary policy, that is the Fed (Bernanke). Also, the Fed Funds rate has not been loose for years.

Bush has screwed up in so many places, why not focus on something he can actually control (i.e. wars of aggression, runaway government spending, crimped civil rights) rather than blame him for the decisions of others?

Posted by: Brennan at June 15, 2007 12:20 PM

This thread is not about Clinton Hill and Forte Green. Brownstoner gives you plenty of attention since it is his home turf. You must really feel threatented by Carroll Gardens real estate if you feel the need to comment about how much better CH/FG.

Posted by: Anonymous at June 15, 2007 1:42 PM

Beatricia:
Si, predonilo, ho fatto un piccolo "typo".
Che cosa ho significato dire sono che questa e una casa realmente piacevole.

Posted by: Dante at June 15, 2007 2:10 PM

Clinton HIll/Fort Greene has great architecture. The area is also one of the very few, very few, racially integrated neighborhoods in the entire country. Carroll Gardens is pure white, as are many of the neighborhoods west of Flatbush avenue. Black affluent folks are moving in to Park Slope and Brooklyn Heights and in time these areas may show more than a little diversity. But FG/CH is the very essence of diversity. It seems to be good for real estate prices. It is an important story.

Posted by: Anonymous at June 15, 2007 2:37 PM

Va bene, Dante. Sono d’accordo. Quest’e una bella casa. Anche, il suo italiano e careno! Ma, che cos’e “predonilo”?...non lo so!

Posted by: Beatrice at June 15, 2007 3:31 PM

2:37

Ch/FG is like Mt Airy in Philadelphia. A truly great neighborhood with actual diversity.

CG is pretty though....

Posted by: Anonymous at June 15, 2007 3:54 PM

Beatrice,
Ha ha!
scusi

"perdonilo" pardon it? excuse me?

Posted by: Dante at June 15, 2007 4:04 PM

Post a comment

Please be patient while your comment is published. It may take a moment.

Latest Restaurant Additions