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June 19, 2007
House of the Day: 87 Garfield Place
While 87 Garfield Place may not be "Perfectly Park Slope" as the listing claims, it's a decent looking building in decent location with a whole lot of space. Our prediction? A developer will snap this 5,600-square-foot property up and convert it into three spacious two-bedroom condos. Why, you ask? The building's 20-by-70-foot floorplate makes it the ideal size for such an undertaking. And, while the building's bones are attractive, a developer doesn't have to pay top dollar for a fancy exterior or interior. Just a thought. There's an open house on Sunday from 11:30 to 1:00.
87 Garfield Place [Corcoran] GMAP P*Shark
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Comments
at 2.5m purchase, fixing up to flip 3 condos at, what, 1m each? would not make enough ROI. There must be competing projects that return much more.
Posted by: Anonymous at June 19, 2007 1:44 PM
I agree, what could you sell out at. You definitely need to go up and even then I don't think there's much margin. The price needs to drop.
Posted by: Anonymous at June 19, 2007 1:55 PM
What about this listing from Corcoran? Web ID: 1016517
http://corcoran.com/property/listing.aspx?Region=NYC&ListingID=1016517&ohDat=6/19/2007%2012:00:00%20AM;6/24/2007%2012:00:00%20AM;
Posted by: Rising Crane at June 19, 2007 2:01 PM
This layout seems very problematic. What's with all the "sleep areas" in the floor plan. Aren't those legal bedrooms? I don't see how this turns into 2 bedroom condos -- I wouldn't buy something with this layout, unless I'm not seeing something a creative architect couuld do. Sorry.
Posted by: Anonymous at June 19, 2007 2:03 PM
A million to live in a floor through where the "bedrooms" have no windows?
Posted by: SPer at June 19, 2007 2:07 PM
Yeah, layout is totally whack. Regardless of final use, this building will need some major reconfiguration.
Posted by: tinarina at June 19, 2007 2:12 PM
and i think beautiful building is a bit of a stretch, no?
i would think someone who wants a 2 family would be better served in a building w/this layout, maybe.
Posted by: Anonymous at June 19, 2007 4:02 PM
This house sold for the asking price $1.3MM half what these guys on Garfield are asking http://www.century21.com/buy/property_detail.aspx?teasers=property-detail-pic+Property+Detail+with+Pictures&tr_key=33537246&bSite=N
Posted by: Anonymous at June 19, 2007 10:04 PM
and the century21 house is 1/2 the size of Garfield.
Posted by: Anonymous at June 20, 2007 2:11 AM
It amazes me what Mr. B proposes sometimes. Really inconsistent. This entry is a worthless discussion as evident by the overwhelming one sided viewpoints on this blog.
Posted by: Anonymous at June 20, 2007 11:30 AM
It's a great house! at a great price. anyone would be lucky to snatch it up..
Posted by: poppy at June 26, 2007 5:37 PM
that house on century 21 is smaller than the one in garfield.. it says 2600 sq. feet.. the one in garfield is over 5000 squarefeet.
Posted by: poppy at June 26, 2007 5:40 PM
I live around the corner from this house and beleive me at 5600 squarefeet on this beautiful block, and great neighborhood, its a steal for a some one who appreciates beauty, security, fine restaurants, and great schools, I live on carrol street for over 25 years and seen a big change in this neighborhod,for the better, and with all these new homes and small condos that they are selling for top dollars, $2,500,000 is a bargain for this house on garfield pkace.
Posted by: Al at June 26, 2007 8:44 PM
Its a great investment, this neighborhood of parkslope is only going to get better, and better,tenants around the area are paying hefty rents, to lived there, if i were the owner i would keep it and raise the rent, people who live here a young proffessionals,who like the good life, and safety that they will have here..thank you for hearing me out, Janet
Posted by: Jane at June 27, 2007 12:52 PM
yes i will keep it to and raise the rent great price i wish i had the money to buy it wow...
Posted by: arod at June 27, 2007 6:25 PM
I have pass by the neighborhood,on ocasions, and its a very nice neighborhood, the majority of the people who live there are either hipster, or yuppie either way its a nice place to lived and and raise children..hey you get what you pay for if you want to lived good you gotta pay.I saw the house and the floor plans and they are all the same, like every other house on the block...and is all good,people who cant afford too live there will critized,but people who know what is good will only figured out what to make out of it when they buy it, its great house with alot of potentials.. good luck to who ever buys it..John
Posted by: John at July 3, 2007 4:27 PM
It's a great neighborhood! Park slope has great schools and restaurants. It's great for families. It's nice, safe and quiet.
Posted by: Chloe Sullivan at July 10, 2007 12:07 AM
Forgot to mention. $2.5 mil. Is a really good deal. Park slope is such a hot market! its a great investment. If i had the money, i'd definitely buy it. I'd charge those yuppies $3,000 a month!
Posted by: Chloe Sullivan at July 10, 2007 12:09 AM
i think the asking price for this brickstone house is amazing it should be much higher because parkslope is a growing area of wealth. this area in three years guarantee will be way more then the asking price lets say 5 to 7 million. i know this because i am a top notch real estate agent theres celebritys that live in the around the neighborhood steve buscemi and jennifer connelly. overall this house gets 5 stars hands down.
Posted by: johnathan mason at July 18, 2007 6:51 AM
i think the asking price for this brickstone house is amazing it should be much higher because parkslope is a growing area of wealth. this area in three years guarantee will be way more then the asking price lets say 5 to 7 million. i know this because i am a top notch real estate agent theres celebritys that live in the around the neighborhood steve buscemi and jennifer connelly. overall this house gets 5 stars hands down.
Posted by: johnathan mason at July 18, 2007 6:51 AM
i think the asking price for this brickstone house is amazing it should be much higher because parkslope is a growing area of wealth. this area in three years guarantee will be way more then the asking price lets say $5 to $7 million. i know this because i am a top notch real estate agent theres celebritys that live in the around the neighborhood steve buscemi and jennifer connelly. overall this house gets 5 stars hands down.
Posted by: johnathan mason at July 18, 2007 6:54 AM
To: johnathan
You guarantee it???
I guaratee this: That is the worst advice I have seen on this site.
Posted by: Anonymous at July 31, 2007 11:38 AM
jonathan mason is a douche.
Posted by: tasha at August 7, 2007 8:51 PM
hahahaha it's so funny how all of the favorable string of posts are so obviously the same person (with a vested interest in the property) and they didn't even try to disguise it -- I especially love the eau-de-Olde-Brooklyn "accent" in the writing. Nice going Corcoran!
Posted by: Anonymous at August 8, 2007 1:51 PM
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