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October 8, 2007
House of the Day: 70 Adelphi Street
The low (for Fort Greene) asking price of this listing—$1,175,000—has more to do with its unfortunate proximity to the Brooklyn-Queens Expressway than any inherent flaws in the house. There's some original detail, but the house has definitely had some modern modifications. The owner (or the agent) has done a pretty good job of styling it for the listing photos as well. This block (at right) ain't the greatest either: the monstrosity known as the Verdi is just a few lots up the street and the street lacks the kind of architectural cohesion that much of the neighborhood is known for. That said, you'll be hard-pressed to find an old house in the area for less.
70 Adelphi Street [Corcoran] GMAP P*Shark
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Comments
Greene
Posted by: guest at October 8, 2007 1:19 PM
You know it's Fort GreenE, B.
I haven't been to this house, but I went to the open house across the street from this one this weekend. It was about half the width, horrendous flip job inside (would have to be redone), and they were asking $1.6 million. It was sold by Rico Real Estate, which the agent informed me does not have a website. Wish I took pix. It was laughable.
Posted by: guest at October 8, 2007 1:22 PM
SLIM pickins...still.
Posted by: guest at October 8, 2007 1:22 PM
doh!
Posted by: brownstoner at October 8, 2007 1:26 PM
Ah, the soothing hum of the BQE, and the relaxing effects of truck exhaust... You'll sleep so soundly!
Aw, just being a dick. Sorry. Actually the house is very attractive, nice shingles, great paint job. Most of us have to put up with some geographic compromises at one time or another to get the space we need.
Posted by: Rehab at October 8, 2007 2:12 PM
The whole one bathroom (on the parlour floor) for the triplex makes me think twice... that and the BQE...
Posted by: guest at October 8, 2007 2:17 PM
You forget to mention da Projects a block away. It wasn't the safest block in Fort Greene. Overprice.
Posted by: guest at October 8, 2007 2:18 PM
The BQE seems imposing, but you don't ever hear it/notice it inside the houses on this block.
Posted by: guest at October 8, 2007 2:26 PM
If you live within 500 yards of a major expressway highway etc., studies show highly increased risk of asthama, cancer etc. Not a good idea.
Posted by: Brooklynnative at October 8, 2007 2:29 PM
It seems that a million dollar is worth nothing these days. I can't imagine native new yorkers paying this money for crappy neighborhood. This is not a deal just because it's cheaper than BH, PS, WB...
Real estate agents must be using smoke n mirrors on out of towners into paying these crazy prices. Well, buyer beware.
Posted by: guest at October 8, 2007 2:31 PM
BQE is not the major problem. I would be more concern with the crime, bus/train transportation, schoolyard on the block and the projects nearby.
I'm not trying to hate the block but I want to let potential buyers know the real deal that the agents will not tell them.
Posted by: guest at October 8, 2007 2:36 PM
I "ALMOST" went to the open house. From the interior photos, I was all in love. But as I was walking toward the spot, I knew why they skipped putting exterior photos. Wonder who will buy that crap.
Posted by: guest at October 8, 2007 2:51 PM
it is 2 blocks from ft. greene park.
Posted by: guest at October 8, 2007 3:08 PM
Also, the place is fairly tiny. Good job of staging the interior, though. It certainly doesn't look like anyone actually lives there. Too clean and uncluttered!
Posted by: Park Sloper at October 8, 2007 3:23 PM
THE WRAP UP
"...The whole one bathroom..."
"...the BQE..."
"...da Projects a block away..."
"...highly increased risk of asthama, cancer etc..."
"...crime, bus/train transportation, schoolyard..."
"...This is not a deal just because it's cheaper than BH, PS, WB..."
"...fairly tiny..."
$1,175,000?????????? WHAT BUBBLE?
Posted by: guest at October 8, 2007 4:01 PM
In a nutshell…Americans believed that the good times would never end…that their home ATM would never be tapped out…and that the credit would always be EZ and plentiful. That, as we all know, is not the case. Just take a look at soaring foreclosure rates and loan defaults.
Now we see this false sense of euphoria spilling over to the stock market. As we mentioned last week, two of the United States' biggest banks, Citigroup (NYSE:C) (NYSE:UBS) said they were writing down $9.3 billion in debt because of the credit crunch, and the markets reacted with glee! In fact, the Dow hit a new record high on the news.
"Why this apparent insouciance?" wonders the Economist. "Because it seems investors can't lose.
"'Take your pick,' says Gerard Minack, a strategist at Morgan Stanley: 'Equity markets are either behaving as if the worst is over for credit and housing problems or they remain convinced that the [Federal Reserve] can offset whatever bad news may unfold.' In other words, bad economic news means the Fed will cut interest rates and good news means recession will be avoided."
So, what category does Friday's BLS data come under? It looked like good news at first glance, but, like most things, when you dig a bit deeper…the truth comes out.
"The jobs report is bogus," opines Addison at The 5 Min. Forecast. "If you suffered through the BLS official site, for example, you'd find they allow themselves a margin of error of 129,000 jobs. Any deviation less and you're in an area that statisticians called insignificant 'noise'.
"'September jobs data cannot be believed,' alerts our government stats watchdog John Williams, helping us to unpack the Labor Department's methods.
"'The Bureau of Labor Statistics can bring in the monthly payroll gain anywhere it wants to. And the Administration knows that a number in a certain range - that can be dismissed as statistical 'noise' or revised away the next month - will move the markets as effectively as a Federal Reserve policy action.
"'Accordingly, when I suggested last month that the 4,000 jobs loss reported for August was designed to help push the Fed into its easing, one indeed has to wonder what is going on in the background, when August revised to an 89,000 jobs gain in the September report. One might read the current September 110,000 jobs 'gain' as a sign the Fed can hold steady at the next meeting, rather than taking action that would tumble the U.S. dollar further.'"
Posted by: guest at October 8, 2007 5:53 PM
I live on Clermont btwn Park and Myrtle so I can speak authoritatively about the neighberhood.
1. This neighberhood is safe.
2. You learn to live with the BQE BUT i'd rather not.
3. If you need a subway, it is a pain in the neck.
4. It's a short walk to Fort Greene Park and some great restaurants.
$1.175M? Too Much!
I did go to the other open house asking 1.6M.
Ridiculous. How about a Trillion?
Posted by: guest at October 8, 2007 7:35 PM
Too expensive. The tiny footprint is one step up from a shack. My Goodness! Kokoran is really nuts!
On another note...maybe I'll spraypaint our entire house interior high-hiding white (floors, walls, ceilings, stairs, etc.), throw everything out and get a couple of floor cushions from IKEA. Voila! Tiny rooms expand to 1-point-whatever-dollars.
Posted by: guest at October 8, 2007 7:47 PM
PS
5:53, Could you at least include the link for your cut'n'paste? Danke.
Posted by: guest at October 8, 2007 7:48 PM
Heck, I'd LOVE to live there....if I smoked dust.
Posted by: guest at October 8, 2007 11:53 PM
BBB gust are cowards, haters and bitter.
Posted by: guest at October 14, 2007 3:49 PM
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