« Just Sold in Brooklyn Friday Blogwrap »
August 3, 2007
Open House Picks
Fort Greene
211 Carlton Avenue
Douglas Elliman
Sunday 12-2:30
$2,650,000
GMAP P*Shark
South Slope
174 14th Street
FSBO
Sunday 12-4
$1,200,000
GMAP P*Shark
Crown Heights
976 Sterling Place
Corcoran
Sunday 12-2
$1,100,000
GMAP P*Shark
Greenwood Heights
252 20th Street
FSBO
Sat 1-4, Sun 1-4
$695,000
GMAP P*Shark
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Comments
The Fort Greene place is some serious money. From the pictures not particularly impressive. There isn't much on the market but this is way over priced.
Posted by: anon Ft. Greener at August 3, 2007 1:32 PM
976 Sterling is an SRO..Kinda pricey to have turn around and pay for conversion, don't ya think? BTW, those Ettelson's used to have an agency...now they're with Corcoran? Interesting?
Posted by: MY2Cents at August 3, 2007 1:59 PM
i have to disagree about the ft greene place. i think the photos look very nice, although of course there are only two interior shots. i bet it goes for close to asking. and it's a nice location.
Posted by: anon at August 3, 2007 2:14 PM
The FG place will sell easily imo. There's very little on the market now, especially in the area, of any quality and this looks good. There are two pages of pics, looks like some br pics too.
Posted by: lp at August 3, 2007 2:19 PM
It would be fantastic if the house on
Carlton sold for that much. There are so many foreclosures in the area, i don't know. Granted Carlton is a great block , and I don't think there are more than three foreclosures on the avenue that I know of, I just don't think so. I am grateful, that everyone is so darn optimistic, keep up the great work, and please buy a brownstone
in fort greene for 2.6M spectacular.
Posted by: Anonymous at August 3, 2007 2:22 PM
the south slope hosue seems very well priced. should we assume rent controlled tenants based on the rental income?
Posted by: Anonymous at August 3, 2007 2:24 PM
Don't ya think that it's pricey with a rent controlled tenant in place. There is a theme. I mean it's not a great nabe. You have to walk beloe ninth street to get anything to eat. Ya know
Posted by: Anonymous at August 3, 2007 2:28 PM
2:28, you must not have been out in the nabe recently. There are many good eating options beyond 9th Street.
Posted by: Anonymous at August 3, 2007 2:36 PM
The South slope house is between 3rd and 4th avenues however!
Posted by: Anon at August 3, 2007 2:38 PM
14th Street does sound much better deal than the W9th street house HOD this week for same price. Bigger house and better block.
Posted by: Anonymous at August 3, 2007 2:46 PM
comments on 20th street:
1st - 20th street is a two way street
2nd - it’s a designated local truck route
I used to live on 17th street, between 3 and 4. the hood/people is great. the traffic/noise is horrendous!!
Posted by: troll-like at August 3, 2007 2:52 PM
I think the Fort Greene place looks pretty good. There are actually a total of five interior shots, and it has the nice parlor-level kitchen with access to the deck and garden that seems to be the preferred layout these days.
Posted by: Park Sloper at August 3, 2007 2:57 PM
we're the owners - no rent control, and currently month to month lease. house can be delivered vacant. yup, truck route. quiet back yard though. and there's excellent food options below 9th street - great mexican, sidecar, vin rouge, kitchen bar on 20th and 6th. we love the neighborhood. we live on 19th street! house is between 5/6th avenues.
Posted by: anon at August 3, 2007 3:00 PM
South Slope house tenant is not rent controlled.It says house can be delivered vacant too.
Posted by: Anonymous at August 3, 2007 3:01 PM
re: last posting - we were talking about 20th street house, by the way. and it is between 5/6 avenues (not 3/4 like someone posted above). the house is priced fairly BECAUSE it's on a 2 way truck route. if the house were on 18th street we'd list it higher, trust me!
see you at the open house, y'all.
Posted by: anon at August 3, 2007 3:03 PM
I think the references (good price/maybe RC) to South Slope they were talking about 14th St. not 20th
Posted by: Anonymous at August 3, 2007 3:06 PM
South Slope Rent Control?
3 Floors $4070 a month = $1357 a month per unit.
This is not rent control, more likely market rate for people who have been there a few years.
It amazes me that 2:24 says rent control and from that point on other people follow suit without thinking for themselves.
Posted by: Anon at August 3, 2007 3:15 PM
nobody's interested in the 20th st house mr fsbo
we were talking about the 14th st house
Posted by: Anonymous at August 3, 2007 3:17 PM
are any of you actually buying houses for these prices? what on earth would make the house on 14th street good deal? Is it the clear water of the gowanus canal? The fantastic $4000 of rent that you could get for the whole house? Who are the "millionaires" who would purchase such a thing? There are some places where I can understand the limited supply, high demand argument, but just who are the people creating the demand for these houses?
Posted by: Anonymous at August 3, 2007 3:19 PM
what prices? 1MM? 2MM? Yes people are buying these houses. where have you been?
Posted by: Anonymous at August 3, 2007 3:33 PM
3:19:
Not that this will change your opinion, but the 14th Street ad explicitly says $4000 is the rent roll for the top three floors, not the whole house.
Posted by: Anonymous at August 3, 2007 3:36 PM
South Slope? You need a better compass. What's north of this location is the Canal. Park Slope is EAST.
Now where did I leave my rubber ruler?
Posted by: tom at August 3, 2007 3:37 PM
leave out your rubber ruler and check the map. If you are talking about 14th street house it is not cut off from the south slope area by the canal.
Posted by: Anonymous at August 3, 2007 4:14 PM
20th street house looks like a pretty good deal. True, 20th street is kinda noisy but man, you can't even get a new shitty shoebox condo for that kind of dough.
nice job, guys. the yard is awesome.
Posted by: Anonymous at August 3, 2007 4:44 PM
What are you talking about? You can buy a condo in this neigborhood for a LOT less than the price of this house.
Posted by: Anonymous at August 3, 2007 4:58 PM
"There are so many foreclosures in the area" - 2:22
Oh really? Do you have addresses?
Posted by: Anonymous at August 3, 2007 7:58 PM
Real Estate is dead, it was killed on August 1 2007.
Drive by shooting from a gang call GREED.
Posted by: The what at August 3, 2007 8:35 PM
A lot of foreclosures in Fort Greene? Yeah, right. You're either a troll or a complete idiot if you think that.
Posted by: Smarter Than You at August 3, 2007 10:46 PM
smarter than you think: totally agree. someone trying to protect their rent controlled apt?
Posted by: anon at August 3, 2007 11:01 PM
Crown Heights house is the only one with upside potential in price as area improves.
South Slope house needs to be renovated to make it into a single family triplex with garden rental. Probably will sell for closer to 1.1mil after owner lowers price in a month.
Greenwood Hights is a good coop alternative for alternative type folks.
Fort Green place is for the high rollers out there . . . Do you feel lucky? Well, do you?
Posted by: Jake the Snake at August 3, 2007 11:30 PM
Mmmmm can't wait to get my hands on some of them foreclosures in Ft. Greene. Thanks for the tip. And I thought I was priced out of the market.
Posted by: Anonymous at August 4, 2007 9:13 AM
Regarding, Fort Greene foreclosures, in your dreams, troll. There is nothing on the market - foreclosure or non.
Posted by: anon at August 4, 2007 10:12 AM
20th st house looks cute - the st is VERY noisy though (we live on 21st which is much quieter) - prices are all the board in this neighborhood now - townsley & gay is trying to sell a 2 story house that is a similar size on 6th btw 21 and 22 for 1.2 million - ha ha - they advertise the "bucolic" setting which is across from the cemetery . we own in this nabe and love it, but be real.
Posted by: jerry at August 4, 2007 11:36 AM
I thought the foreclosures were referring to carlton, which i would believe.
Posted by: slick at August 4, 2007 2:44 PM
yeah, there was a post from Brownstoner last week or so about a foreclosure on Carlton.
Posted by: anon at August 4, 2007 2:58 PM
Anonymous 4:14:
I was looking at the map linked to the ad when I observed that the house offered was indeed directly south of the Gowanus Canal and directly west of the Park. The Canal was certainly a lot closer than the Park. My reference to the rubber ruler was meant to point attention to real estate brokers' habit of stretching the truth in their praise of the attributes of their properties.
Posted by: tom at August 4, 2007 4:13 PM
The "south slope" house is in Gowanus. it's really quite simple -- below 4th avenue south of Union is Gowanus.
Posted by: anon at August 4, 2007 6:01 PM
The brownstoner post last week about a foreclosure was a home in Prospect Heights on Carlton ave. Nowhere near this one. But foreclosures are not an issue in either Prospect Heights or Fort Greene. But a 4 story house hasn't gone for this kind of $ yet in Fort Greene. Maybe they will get it? What's happening with that 5 story house on Carlton? Nothing has been updated on the Corcoran website. But maybe they just haven't gotten around to it?
Posted by: Anonymous at August 4, 2007 6:29 PM
Just because there's racial diversity in Fort Greene doesn't automatically mean there will be foreclosures - is that what some here are suggesting? Fort Greene has always held on to a strong, middle class community of black homeowners over the years, through good and bad times economically in the neighborhood. Similar to our 'hood, Lefferts Manor. We haven't been seeing foreclosures here either. There was one about 3 years ago I remember.
Posted by: Anonymous at August 5, 2007 2:01 PM
The 20th street house is a tear down except for the fact that you would never invest in building something new on that street so near the corner. You wouldn't want to do a complete renovation because the quality of the housing around it would ensure you were the best looking thing on the street. Never a good idea if you want your money back someday.
The country kitchen and the cartoonish do it yourself paint job might have seemed charming at one point. Now they want someone to give them 700K with the knowledge that they will live in a less than desirable neighborhood, with 7 foot ceilings (that's what it felt like), and at least another 100K to make it livable.
This is a soft market. This building does not go for asking is my guess.
Posted by: kuroko at August 6, 2007 8:30 AM
I was at 20th Street open house too. I thought it was adorable, the owners did a great job renovating, and it was priced well, considering what everything in the neighborhood has been going for lately. (1.2 million for that 6th Avenue/22nd street home depot reno special was a joke) I live in "that less than desirable neighborhood". What makes it so? Not enough sushi restaurants, French bistros and white yuppies yet like prime Slope?
Posted by: anonymous at August 6, 2007 9:16 AM
I saw the crown heights place. Lots of potential as the neighborhood changes, but does anyone know how difficult it is to get a mortgage on an SRO? Is it just a higher rate and downpayment, or are there other issues (taxes, ins, etc) as well? How much time/money would be involved in changing the C of O to 2 Family or something?
Posted by: anon at August 6, 2007 11:45 AM
Imagine standing at the corner of 5th avenue and 20th while looking up the street at your $700,000 purchase with a friend and explaining with a straight face that you have spent wisely. Then, walk in the "house", worried that anyone over 5'10" tall would be prevented from entering certain parts for fear of banging their heads, and defending that position. Charming yes. Cute, maybe. Good buy, not so much. This is less than 1200 square feet of living space on a scrappy, noisy, designated truck route , no-amenity street. The renovation is a do it yourself special which is all fine and dandy if you are going to live with the results. The minute you try and pass it off on someone else at market rate is where you lose most people. They have painted themselves in a corner with their color choices and their country kitchen/shabby chic aesthetic. I'll eat my hat if this goes for what they are asking.
Posted by: kuroko at August 6, 2007 11:46 AM
I agree that 20th street was way over-priced. Two of the "bedrooms" were such cheap add-ons that they weren't inhabitable. You'd need to put in at least $100,000 to make it liveable...then you're looking at $800,000 for 1200 sq/ft. Not such a good deal in any hood, much less this one. Cute if you're crazy. No way it'll go for asking!
Posted by: anon at August 6, 2007 12:30 PM
I hope you have a smallish, and tasty hat, as there have been multiple offers over the asking price. Over 1300 sq feet, and two owners presently over 6 ft tall. To each their own - if by no-amenity you mean no French restaurants, you are right.. but with two supermarkets, a korean grocer, 24 hour laundromat, dry cleaners, two coffee shops,two brand new wine-bar, a 15 minute walk to Prospect Park, PS 10 only 3 blocks away, and several new restaurants within 2 1/2 blocks... I wouldn't say 'no-amenity street'.
Anyway, with multiple offers in over the asking price, I guess we know now what happens when you can't even buy a place in the center slope without having two million dollars in the bank. Maybe you already own your million dollar home... in which case, 'congrats'. Otherwise, why don't you wait another couple of years... maybe the market will tank, and you can get a lovely house around the corner from Moutarde on-the-cheap... or then again, maybe you will be looking at homes like this one going for over a million on 20th St. between 3rd and 4th Ave. I am not a clairvoyant, and have no idea where the market will go, but the market has clearly spoken on August 6th, 2007, at least in regards to this property.
Posted by: owner of 20th at August 6, 2007 1:08 PM
Congratulations, Owner of 20th!
To me the big downside of South Slope and Greenwood Heights is the subway options. But amenities are coming and people clearly are interested in those neighborhoods. As for price, you're right, what else can people get for well under a million. Some people talk like this is the only city in the country where we see these prices, like it's something crazy when it's not. Try buying a house for under a million in any halfway decent neighborhood in L.A. (proper, not Orange County or the Valley), San Francisco, Seattle. And NYC is supposed to be cheaper than those cities? Doesn't make sense.
Posted by: Anonymous at August 6, 2007 2:15 PM
I went to the open house on 20th yesterday and told my husband I thought someone would offer asking. I have seen a lot of stuff in G- Heights for a lot more. While the 20th st house was not perfect. It was very liveable for a family with one or two kids and amenities are there with more on the way... as far as subway, our option is the R train, which hooks up with the N express at Atlantic - much better than when I was W terrace and only had the F train!
Posted by: Anon at August 6, 2007 2:35 PM
http://brownstoner.com/brownstoner/archives/2007/08/just_sold_in_br_66.php?comments=10#comments
I think the above link makes for an interesting comparison...two of the three are for comparable square footage in better nabes at the same price. Would venture to guess that the finishes are better and that you won't bump your head reaching for the fridge.
Also, how comfortable is it for a woman to walk from the R train up 17th or 18th and then over to this place at night?
Posted by: kuroko at August 6, 2007 4:18 PM
we get it kuroko...you don't like the place or the neighborhood. obviously some people do. when studios in manhattan are selling for 500K plus, i don't find it too hard to believe this place went fast. i live in the north slope and walked down to 20th and 5th yesterday. i love it.
the stretch of 5th avenue from flatbush to 9th street in 2000 was a hellhole. now look at it!
shouldn't you be in the corner eating your hat, anyway??
Posted by: slopehead at August 6, 2007 4:48 PM
When it is sold...will eat hat...but I see the phrase "contingent upon inspection" playing a big part in this one.
Posted by: kuroko at August 6, 2007 4:57 PM
that link you sent describes 1 condo and 1 co-op, only the former lists any kind of outdoor space which is described as 'balcony rights'. there's a big difference between living in your own house with front and back yards and the ability to add/change/knock down/build up and living under the iron fist of a co-op board or in a souless yuppie condo, kuroko. re: price - there's a 20x100 vacant lot on 19th street that sold for over half a million dollars last year. re: your question about R train - i'm a woman who walks from that train home after dark, and at odd hours, frequently. i've never once felt strange or threatened about it. when i rented in the north slope my trunk was broken into every month or 2. here? never in 5 years. panhandlers and muggers seem to operate closer to the park. just because a place ain't full of white professionals doesn't mean it isn't safe.
Posted by: cheerwine at August 6, 2007 5:17 PM
it's the people who buy in areas like this, that are more likely to make the big bucks later down the road, btw.
just like back in the 70's people thought you must have forgotten to take your meds if you said you were moving to soho. or the upper west side.
they've all eaten their words since.
Posted by: slopehead at August 6, 2007 5:18 PM
Speaking of subways, I often think about how the city of NY is not ready for all these neighborhoods in Brooklyn to be populated by commuters who work in Manhattan. For most of the history of these nabes, the residents worked locally in Brooklyn and drove cars. From South Slope to Bay Ridge on the R line. Right? They still do, most of them. But now there are more and more commuters, as houses transfer from the older homeowners to the new ones, and as new big condos are being built. The city needs to run the R train more frequently at night, and they need to add the express train on the F line. All that.
Posted by: Anonymous at August 6, 2007 5:21 PM
that link you sent describes 1 condo and 1 co-op, only the former lists any kind of outdoor space which is described as 'balcony rights'. there's a big difference between living in your own house with front and back yards and the ability to add/change/knock down/build up and living under the iron fist of a co-op board or in a souless yuppie condo, kuroko. re: price - there's a 20x100 vacant lot on 19th street betw 5/6 that sold for over half a million dollars last year. that's a good gauge for the value of the land under whatever house you buy. re: your question about R train - i'm a woman who walks from that train home after dark, and at odd hours, frequently. i've never once felt strange or threatened about it. when i rented in the north slope my car's trunk was broken into every month or 2. here? never in 5 years. panhandlers and muggers seem to operate closer to the park. just because a place ain't stuffed full of white professionals and bugaboos doesn't mean it isn't safe.
Posted by: cheerwine at August 6, 2007 5:24 PM
That may be 2 hats you eat, Kuroko. Why in the world are you looking in Greenwood Heights?
Posted by: anonymous at August 6, 2007 5:30 PM
AND rental income. Don't get that shit with condos and co-ops.
Posted by: cheerwine at August 6, 2007 7:08 PM
I am also a woman who walks home from the R train (in my case the 25th st stop) at night. 4th Ave is always busy - people out on their stoops, bodegas, etc - there's even a church that has services most nights until 11:00 or so! I feel totally safe. Same with 5th Ave. There are more people out in the evening that during the day.
Posted by: anon at August 6, 2007 8:29 PM
As someone who lives on 14th between 2nd and 3rd, I can say I feel safe walking home from the subway. There are lots of people on 4th ave and the neighborhood has even come a long way since I moved here in Nov. 2005. The 14th st home is a bit pricey, but it's got a lot of potential. Also, the poster knocking the 20th st house obviously is not familiar with the nabe. The house in my opinion is worth it.
Posted by: 14th st at August 6, 2007 11:19 PM
Latest Restaurant Additions
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Chickadee Chick
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Park Cafe
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Bahia
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added November 2, 2009 12:00 PM in Fort Greene -
Wombat
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Organic Heights
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Giardini Pizza
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Rye
added October 27, 2009 12:00 PM in Williamsburg -
Bati
added October 26, 2009 12:00 PM in Fort Greene
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