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August 9, 2007

Just Sold in Brooklyn

439pacificst0807.jpg
BOERUM HILL $1,800,000
439 Pacific Street GMAP
Two-family, four-story landmarked townhouse on a 20-by-90-foot lot; property features two-bedroom, one-bath lower unit with double parlor and two marble fireplaces and three-bedroom, two-bath duplex unit with wide plank floors and marble fireplace. Taxes $4,117. Asking price $1,995,000, on market one month. Brokers: Sue Wolfe, Nancy McKiernan Realty and Terry Naini, Prudential Douglas Elliman.

FORT GREENE $299,000
143 Lafayette Avenue GMAP
Prewar one-bedroom, one-bath co-op, 350 square feet, with casement window, high ceilings and N/S exposures with garden views; Cumberland building features garden, laundry and storage. Maintenance $335. Asking price $295,000, on market 27 days. Broker: Rodolfo Lucchese, The Corcoran Group.
Just Sold! [NY Post]




Posted by Gabby at 11:59 AM | Comments (18)
Categories: Sales

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Comments

wow...i remember seeing the listing for the ft. greene place thinking how cute it looked. the bedroom looked small, but the place seemed to have so much charm and a great location. and i like small spaces.

if i hadn't just bought my studio recently, i would have been all over that place.

Posted by: slopehead at August 9, 2007 12:07 PM

Interesting on the pacific st property. There were a bunch of properties on the dean st block that went for 1.8 last year. So no real appreciation.

Posted by: Anonymous at August 9, 2007 12:12 PM

Why would there have been appreciation? Housing has tanked in the rest of the country over the last year, with the first drops in the national average (as measured by the Case-Shiller index) since the Depression.

What's interesting is that this sold for less than that house from yesterday on Garfield at Fifth Ave (which started at 2.5m, now asking around 1.9) that is a three-story. If you can get a much nicer 4 story in a similar neighborhood for less money, that Garfield house will need more price cuts to move.

Posted by: anon at August 9, 2007 12:51 PM

what about location?

i think many would prefer garfield over pacific street.

maybe not. i would.

Posted by: slopehead at August 9, 2007 1:00 PM

But all the 4 story houses in Cobble Hill and Carroll Gardens have been going for $2.5M and up (to $3.5M). That's appreciation. No tanking in Brooklyn.

Posted by: Anonymous at August 9, 2007 1:04 PM

I don't know if I'd call the $2.5m houses in Cobble Hill/Carroll Gardens appreciation. The ones in Cobble Hill are higher in price to PS/BH because they're close to Brooklyn Heights, and the Heights is always most expensive. As for $2.5 million for Carroll Gardens, I think that's called the dead-cat bounce. We'll see, though...

How many 4 story $3.5 million houses in Carroll Gardens, btw?

Posted by: anon at August 9, 2007 1:08 PM

I really don't get the boehrem hill thing with those prices. why do people spend that kind of coin on that area when they could get a nice house or more house elsewhere?

Posted by: Anonymous at August 9, 2007 1:12 PM

350 sq ft one bedroom??? how is that even possible? Has to be the smallest ever.

Posted by: anon at August 9, 2007 1:21 PM

Over 20+ years I've lived in Brooklyn Heights, Park Slope, Carroll Gardens + Boerum Hill. Liked Carroll Gardens + Boerum Hill the most. I don't think there is much by way of value in any of those neighborhoods anymore, but you're going to get more for your $$ in Boerum Hill than the other neighborhods.

Posted by: Anonymous at August 9, 2007 1:36 PM

Without more info on Pacific St. hard to compare with sales on Dean. What condition,etc. Pacific owned by same person for 30 years - so maybe need major work? That is about right for that size unless renovated.
(comparison to Garfield is useless - different animal entirely).

Posted by: Anonymous at August 9, 2007 1:55 PM

1:21, I agree...how is that possible? 350 sq. ft? Did you notice that in the description, it also says "casement window"? I prefer my windows plural!

Posted by: GHB at August 9, 2007 2:28 PM

About time a brownstone is featured. It's usually condos/co-ops.

Posted by: Anonymous at August 9, 2007 2:54 PM

The pacific street house has nice detail but is a real fixer upper.

Posted by: Anonymous at August 9, 2007 3:31 PM

somebody obviously liked the 350 sf enough to pay a little over asking price for it.

i thought it was a great layout. perfect for one person. the casement window (not sure if there was more than one) was one of those beautiful old paned type with the havy leaded glass.

and unlike most smaller places in ny, i think they are calculating the square feet more honestly than most.

a lot of the 400 and 450 square feet places you see listed (pretty common stuido size) are actually in the 300's, but the agents round up and use every trick in the book to increase it on the listing.

Posted by: slopehead at August 9, 2007 3:39 PM

Almost all of these houses that come up for sale are fixer-uppers. That is why so many the ask prices seem so absurd to me. It is not just the money it will cost to fix everything up but also the time, effort, aggravation, and living with dust and grime for years.
The latter is worth it if you get a bargain but paying top dollar for a money pit is just beyond me. Most of these houses are barely in the 1960's in terms of plumbing/mechanicals.
They are beautiful but high-maintenance. I wonder when the bright young things will start falling out of love with them?

Posted by: Anonymous at August 9, 2007 7:59 PM

considering the big article that came out today on the horrible construction quality of new condos in new york city, even in the 3 million dollar range, i'd say people won't be fallin outta love anytime soon.

if anything, i'd say that as time goes on, people who bought new condos will find that they either won't be standing in years to come, or won't be worth a whole lot because they'll be so severly out of date with the newER stuff. or most likely both.

without high quality new design here in new york (which we lack in a BIG way) pre-war anything will continue to be where it's at in this city.

Posted by: anon at August 9, 2007 9:49 PM

The pacific street house has nice detail but is a real fixer upper.

Posted by: Anonymous at August 9, 2007 11:16 PM


9:49,

That article mentioned a few new buildings with problems. Old buildings, by and large, were not built stronger than new ones are. Sure, there are a few standout trophy buildings built in the early 1900's that are built like Fort Knox, but must ordinary brick and beam buildings, like those found all over NYC, are not particularly well built.

The single biggest problem facing old brick buildings is the brick itself -- it basically turns to dust over time. These new poured concrete condos will last much much longer than most older brick buildings will.

Posted by: guest at August 12, 2007 4:19 PM

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