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July 10, 2007
HOTD: Love Lane Buyer, Wherefore Art Thou?
The seller of 43 Love Lane, a recently built carriage house in Brooklyn Heights, must either not really need to sell or be a little out of touch with reality. When we first highlighted the 2,400-square-foot property back in February, we expressed shock at the price tag of $3,500,000 and readers unanimously agreed that it was way overpriced. So here we are five months later and the price has come down to $2,995,000. Unfortunately, we think it still has a ways to go. Even at $1,000 a foot (which, given the unremarkable interiors, isn't a God-given right), you're only looking at $2,400,000. Does that number sound about right to others?
43 Love Lane [Douglas Elliman] GMAP P*Shark
House of the Day: 43 Love Lane [Brownstoner]
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Comments
A little staging might help. The photos have a cluttered feel. At this price point I think you have to be pushing all the right buttons when people walk through the door.
Posted by: anon at July 10, 2007 1:21 PM
you'd have to spend a chunk of money to update those heinous bathrooms and kitchen, but i think it's super cute...
2.5 maybe
Posted by: Fitzel R Butt at July 10, 2007 1:22 PM
Props on the headline, but just have to point out that "wherefore" means "why," not "where." Common misconception. Thus "Wherefore art thou Romeo?" does not mean "Where is he?" but rather, "Why does his name have to be Romeo, fa Chrissakes?" Carry on.
Posted by: anon at July 10, 2007 1:26 PM
1:26, you mean as in -- "Wherefore art though a dumbass greedyass seller with no sense of tha market, fa Chrissakes?"
Posted by: Anonymous at July 10, 2007 1:38 PM
It would be worth it if it actually had a garage. AS it is it is a fake carriage house designed in a fake nineteenth century style with blah interiors across from the loading dock of a CVS paharmacy. Charming!
Wherefore art thou Corcoran?
Posted by: Anonymous at July 10, 2007 1:48 PM
Anyone who figures out that the garage around the corner is about to be converted into condos, i.e. there is going to be massive construction activity immediately outside the carriage house for the next 18 +/- months, would run from that location.
Posted by: anon at July 10, 2007 2:36 PM
The garage is going Condo? Isn't parking already bad enough in the nabe?
Posted by: GHB at July 10, 2007 2:43 PM
So, Mr. B, what you're saying is, because your readers unanimously think so, the seller is obligated to reduce the price.
Well, if that isn't condescending and patronizing then I'm not sure what is. Do you think the same for a brownstone in Clinton Hill or Fort Greene (Aka, Mr. B's hood)?
Posted by: Anonymous at July 10, 2007 2:50 PM
$3mm for a 2-story townhouse with no yard? mama mia!
Posted by: z at July 10, 2007 2:51 PM
parking in Brooklyn Heights is possibly the worst in the world. Once the Love Lane garage closes, if it hasn't already, I think the problem will be such that it will impact on house prices. Don't be surprised if Park Slope, Cobble Hill, Clinton Hill, etc. overtake Brooklyn Heights in terms of square foot costs very shortly. The neib has become very difficult to live in and if the Mayor gets his congestion pricing, hundreds of idiots will drive to Brooklyn Heights and cicle for hours to find a place to park so they do not have to pay to cross the bridge.
Posted by: Sam at July 10, 2007 2:54 PM
To GHB 2:43: Yes on both counts -- Love Lane garages are going condo, and Brooklyn Heights parking is already bad enough. Once the open-air lots in Dumbo become construction sites (tick, tick, tick), some lucky owner will be trying to turn this fake garage into a real one. (Does anybody know if it has a curb cut under those funky mushroom bollards?)
Posted by: rfr at July 10, 2007 2:56 PM
2:50, it's not "condescending" or "patronizing" to opine that an asking price is too high. you seem to have your own axe to grind here.
Posted by: z at July 10, 2007 3:10 PM
He/she has already dropped it by 15%.
I don't think it's Brownstoner's opinion, I think it's reality that is telling this seller to wake the eff up, condescending as that might seem.
Posted by: Anonymous at July 10, 2007 3:25 PM
I seem to have read a recent spate of comments accusing Mr. B of (1) spending too much time on Clinton Hill (2) ignoring Clinton Hill while challenging other neighborhoods too much. Seems to be realtors who are upset at their monopoly of information being cracked (still waiting for multi-listing service in NYC, tho). Obviously if this property is still unsold it is overpriced. But then everything to me seems crazy numbers...
Posted by: putnam-denizen at July 10, 2007 3:27 PM
More precisely, 1:26, its "Romeo, why are you a Montague?".
Posted by: crouchback at July 10, 2007 4:16 PM
1. The owner is allegedly moving to the Plaza hotel so I don't think they're hurting for money. I guess they priced it high and hoped for buyer and will now drop it slowly until they get a bite.
2. Also, those mushrooms were put there to keep the 18 wheelers that used to unload at the D'Agastino's from hitting the house (as they allegedly did once or twice).
3. No yard but there a decent roof deck.
4. Indeed, the garage is going condo. I suspect this has absolutely destroyed the ability for the owner to get a decent price. Considering that they've had it for some time their mortgage is probably pretty small. They should probably sit on it for 2 years and rent it out to cover the nut (and probably make a profit) until construction ends and then sell.
Posted by: Peter at July 10, 2007 4:44 PM
I predict this sells for right around 1.8.
Posted by: the future at July 10, 2007 4:45 PM
I'll take it off their hands for 550k
Posted by: Anonymous at July 10, 2007 5:10 PM
It's charming for a recently built carriage house... definitely don't like the bathroom... but to quote z 2:51PM,
"Mama Mia", and yes, putnam-denizen the numbers as of late seem crazy to me as well!
Posted by: bren at July 10, 2007 5:49 PM
This also faces the Love Lane Parking Garage which is supposed to be converted into a large condo complex. The little reproduction carriage house that could will be right across the lane (little skinny Love Lane) from a massive construction project for a few years. Not a plus.
Posted by: donatella at July 10, 2007 6:00 PM
I bid 10 percent above 5:10's offer.
Posted by: Anonymous at July 10, 2007 6:31 PM
LOL, 4:16 PM!!
Posted by: Park Sloper at July 10, 2007 10:11 PM
4:16 - obviously "why are you a Montague" is the sense of the passage as a whole, but that was not the issue at hand in my post (1:26).
Posted by: anon, forsooth at July 10, 2007 11:14 PM
4:16: More precisely, it's not "its," it's "it's."
Posted by: Yo at July 11, 2007 9:37 AM
The house is kind of cool, but it must be so dark in there, being surrounded by all the larger buildings.
Posted by: GHB at July 11, 2007 10:48 AM
STILL on the market. Shocking!
Posted by: guest at November 20, 2007 2:46 PM
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