Open House Picks

The Midwood Park house looks like a bargain. Hard to find a house in Victorian Flatbush in move-in condition for under 1.2 these days. I'm not saying the kitchen and baths are spectacular, but certainly look clean and functional. The stone fireplace is fantastic.

Posted by: guest at October 12, 2007 1:19 PM

108 Lincoln Place seems like a stretch in many ways. First of all, the owner duplex unit is only ONE bedroom. There are two rentals, and Corcoran states a rental income potential of $68,000. That's nearly $3k/month for each unit, both of which are also only 1BR units.

Posted by: guest at October 12, 2007 1:26 PM

The Gates house looks nice and homey. And yes, with an income producing apt., the price looks with the realm of reason.

Interesting to see what happens with the dueling Lincoln houses. Take your pick...for nearly 3 mil you get someone else's stalled renovation (they've thoughtfully left you the most expensive parts) or a ready to live in hack job with most of the details scraped away. Lincoln Place is really nice, but I like the blocks with direct park access better.

Posted by: guest at October 12, 2007 1:27 PM

The Gates house appears to be 3 stories. How are there two duplexes?

Posted by: guest at October 12, 2007 1:34 PM

The midwood house is a bit far from the cortylou st. hububu, but I think it will go close to asking.

Does anyone know aobut the public schools around there??????

Posted by: guest at October 12, 2007 1:35 PM

I'm guessing the Gates house has a top floor that is set back. One wonders why the picture has been cropped to exclude it.

Posted by: guest at October 12, 2007 1:47 PM

Re: Gates - there is an attic with dormers. Look at the picture with the bed. This is what the first poster was referring to about the top and bottom floors being cramped: floor 1 of the bottom duplex is the
2/3-below-grade garden floor, and floor 2 of the upper duplex is the attic.

Posted by: guest at October 12, 2007 1:50 PM

You can see the Gates attic in the propertyshark photos (click on the P*Shark link above)

Posted by: guest at October 12, 2007 1:50 PM

FYI, 2.5 floors with dormers is traditional Federal style.

Posted by: guest at October 12, 2007 1:51 PM

104 & 108 Lincoln Pl. are both owned by the same person -- he was until recently (or perhaps still is) trying to rent the garden duplexes in both buildings.

Posted by: guest at October 12, 2007 1:59 PM

These two Lincoln Place homes sure do put in perspective those Clinton Hill and Ft. Greene places that are trying for the same amount.

2.8 million on Lincoln Place will sell quickly. It's a perfect location.

Posted by: guest at October 12, 2007 2:08 PM

"2.8 million on Lincoln Place will sell quickly. It's a perfect location."

Current owner paid $1.7 million 6 months ago. Not a bad profit.

Posted by: guest at October 12, 2007 2:23 PM

So now is the season to jack up prices and hope someone bites.
Nothing under a million worth showcasing?

Posted by: guest at October 12, 2007 2:28 PM

Midwood seems totally overpriced to me. It's really far from the prime area and that area in general will totally crash when prices do eventually "slow." Cute house though.

Posted by: guest at October 12, 2007 2:34 PM

"2.8 million on Lincoln Place will sell quickly. It's a perfect location."

Good location. Terrible layouts. Overpriced by far.

Posted by: guest at October 12, 2007 2:36 PM

Park Slope is uber hot.

These places will sell for this.

You all need to pay attention. Do you have ANY IDEA how many people (young couples with kids) from Manhattan read that "Park Slope top 10 neighborhood" thing and are going crazy trying to buy something now?

Apparently you don't know.

This is NYC and press like that speaks VOLUMES.

Posted by: guest at October 12, 2007 2:44 PM

Yep, those Manhattan couples with Kids are going to pay $2.8 million dollars to live in a 1 BR duplex! YOU need to pay attention to the details.

Posted by: guest at October 12, 2007 3:25 PM

Yeah, cause there are no 2.8 million dollar 1 bedroom duplexes in Manhattan.

Posted by: guest at October 12, 2007 3:27 PM

"These two Lincoln Place homes sure do put in perspective those Clinton Hill and Ft. Greene places that are trying for the same amount."

all the places listed for similar prices in ft.green/clinton hill have been MUCH larger and/or actually finished and habitable. not sure what perspective you mean other than that ft.green/clinton hill still offers good housing stock.

more importantly, this place needs ALL kitchens and bathrooms - have you any idea the cost and work that means? pop a few hundred grand onto the price, plus the cost of carrying the mortage without living there or renting it!

Posted by: guest at October 12, 2007 3:28 PM

The point is 3:27, are FAMILES WITH CHILDREN going to pay that much to live in a ONE BEDROOM apartment?

Posted by: guest at October 12, 2007 3:37 PM

I agree 3.28. The Lincoln place houses are on the small side and one of them is "mid renovation". Not saying that the places in FG an CH that have been listed near $3MM are realistic (though some prime propertis have sold in FG and CH for well over $2MM and some near $3MM, and a bit more for mansions), but it's not a good comparison. Clearly, PS is far more expensive than FG and CH for comparable houses.

Posted by: guest at October 12, 2007 3:38 PM

PS is a FAR better neighborhood than Clinton Hill or even Ft. Greene.

Park Slope prices should not be the same as neighborhoods that gentrified 20 or 30 years after it was pioneered in Park Slope.

They are higher. They will continue to be higher and I believe Park Slope townhomes will be selling for 5 million dollars in less than 10 years.

Posted by: guest at October 12, 2007 3:42 PM

I think the seller of the Lincoln Pl houses has graced us with his presence.

Posted by: guest at October 12, 2007 3:46 PM

Here we go again with the broker, owner, developer, mom, crap again.

Are you REALLY that jaded , 3:46?

Posted by: guest at October 12, 2007 3:48 PM

I don't know if 3:36 is, but I sure am.

Posted by: guest at October 12, 2007 3:50 PM

"Are you REALLY that jaded , 3:46?"

Experience talks.

Posted by: guest at October 12, 2007 3:51 PM

Well you are sadly wrong.

Posted by: guest at October 12, 2007 3:56 PM

As a former tenant of 108 Lincoln Place I can say all of the units and the common areas of the building needed work. I moved out just over a year ago (so my landlord could deliver the building vacant) and if the new owner has been in place for 6 months then the intended gut renovations have doubtfully been completed. My apartment, one of two on the third floor, had the radiator falling into the floor so there was definitely some work to be done beyond replacing the dated kitchens and bathrooms, refinishing the floors, etc.

The place did have some updated mechanicals and great bones and beautiful details/woodwork Wondering what happened to it in the pics of the duplex.

Posted by: guest at October 12, 2007 3:59 PM

Well if you're not the seller, looks like you ought to be breaking open the piggy bank to buy these hot hot hot properties. After all, they'll at least double in value in the near future. What a gimme investment, right?

Posted by: guest at October 12, 2007 4:00 PM

Fixer uppers in Park Slope are going for these prices.

Face it.

Nice, updated ones are starting to push 3.5 million.

Considering a house like this is 6 million on the Upper West Side, I still think it's a good deal.

Posted by: guest at October 12, 2007 4:02 PM

Midwood House is a great deal. Neighborhood is about to be landmarked so this area will be as desirable as Ditmas Park. Nice to see all the original wood details. I think this block has the 100 yr old trees too.

Posted by: guest at October 12, 2007 4:12 PM

These houses sold 6 months ago for $1.7 mil per - are you seriously saying that they're worth over $1 mil more than that now?

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Posted by: guest at October 12, 2007 4:17 PM

"These houses sold 6 months ago for $1.7 mil per - are you seriously saying that they're worth over $1 mil more than that now?"

Yes.

Last year Park Slope was not one of the 10 best neighborhoods in the U.S.

Posted by: guest at October 12, 2007 4:18 PM

Midwood house is a bargain. The bargain is being able to afford a house at all in Victorian Flatbush. Smaller homes often have cheaper price tags, but nonetheless wind up selling for more per square foot than larger, harder to maintain, neighbors.

BTY - the house everyone bitched about on Marlborough is now listed as "contract pending" on MKG's web site. Ask is 1.35 and it wasn't on the market long. Mary Kay is the one broker who lets you know what properties actually sell for - so if the deal goes through I'll laugh if they got ask or close to it. In DPW, not a landmarked nabe by the way.

Posted by: guest at October 12, 2007 4:22 PM

"Last year Park Slope was not one of the 10 best neighborhoods in the U.S."

And interest rates were significantly lower.

Posted by: guest at October 12, 2007 4:25 PM

4:22 MK is a crook

Posted by: guest at October 12, 2007 4:25 PM

Can't believe the Gates home is only listed at $1.3 and change. It still is an entire home with a rental in comparison to some of the condos selling for much more and situated on one floor and not much bigger. Go figure.The other Gates home(109 Gates Ave me thinks) on the market for $1.4 mil needs so much work and this property doesnt seem to .

Posted by: guest at October 12, 2007 4:33 PM

The Midwood house is indeed a "bargain" for the neighborhood. It's a little on the cheaper side because it's close to Avenue H. However, I firmly believe it will only appreciate in value. There is a new bistro going in on Newkirk Ave. and it is inevitable that the neighborhood will soon have more signs of gentrification than just those on Cortelyou. If you're interested in moving to the hood, I say jump on that one.

Posted by: guest at October 12, 2007 4:41 PM

Hey 2:44 and 4:25, I seriously doubt that just because a less-than-high-profile group like the American Planning Association comes out with "10 Best" list means it will make a dent in the groupthink of your average Manhattan yuppie couple. As you say, "This is NYC and press like that speaks VOLUMES" but these people already know about Park Slope from reading articles in NYT, New York magazine, etc. ad nauseum about the PS stroller set.

Posted by: guest at October 12, 2007 4:42 PM

Actually, last year Park Slope was just as nice a neighborhood as it is now. And anyone looking to buy here probably knew just how nice it was - that's why they wanted to live here.

Being on a very subjective list doesn't actually make the neighborhood any nicer.

And if you think it brings more buyers, come on. Park Slope has been on the map as a great place to live in the NY area since the early 80's - it isn't like it was some secret that just got out!

Posted by: guest at October 12, 2007 4:42 PM

What's all this talk of a million here and two million there. Just check out that property on craigslist in Bed Stuy for 650K. There 's an open house this weekend. Looks like a no brainer to me and it's a true Brownstone. That's where my money would be if I could move out of my parent's basement.

Posted by: guest at October 12, 2007 4:51 PM

"hello vanguard I would like to invest 2 million dollars from the sale of my brownstone" Thank you. God bless America.

Posted by: guest at October 12, 2007 4:59 PM

I've said it before. Nobody gets as heated and defensive as Ditmas people. They truly are the one neighborhood that never acknowledges the downsides. EVERY neighborhood has its downsides. Even Park Slope.

Posted by: guest at October 12, 2007 5:15 PM

My husband and I are probably "one of those yuppie Manhattan couples" being discussed here and I can tell you my impressions of Park Slope- it is a WONDERFUL, beautiful and in many ways ideal area to live- esp. as our family grows. We are definitely potential buyers in the PS brownstone market. However, I can tell you that the "10 best neighborhoods" thing did absolutely nothing for us or friends of ours in similar positions, except to verify what we already knew. There is no way that it should really inflate prices, as it is a relatively obscure accolate (all things considered). 125th st in Harlem also got very good press but I doubt it's being used as anything other than a marketing tactic by realtors, and has very little influence on buyers unless they are brand new to the real estate market (which lets face it- who in the greater NY really is????).

So in my opinion, a price increase of $1mm in 6 months is absolutely ludicrous unless the place has been transformed into some sort of modern paradise inside (central air, perfect finishes, etc.). We wouldn't even consider it. If that is the asking price for brownstones in PS, we'd rather just stay in Manhattan in a smaller but still amazing property and fully functional family home (for $2.8mm).

I do agree that I don't think PS will lose its value and places will continue to appreciate (as will Manhattan real estate). BUT that kind of totally disproportionate price increase when compared with the Manhattan market even is totally nuts in my opinion.

Posted by: guest at October 12, 2007 5:23 PM

5:15...I guess I missed the defensive Ditmas Park post. Please tell me which one it it. Many thanks.

Posted by: guest at October 12, 2007 6:09 PM

Re: 108 Lincoln Place. For 2.8 Million, I'd expect better interior finshes than just sheetrocked walls with plain framed entryways. That is the cheapest looking remuddle I've seen on a property of that price. Yeah, they saved a couple of original doorways, so it's not totally featureless, but, blech!

Posted by: guest at October 12, 2007 6:22 PM

4:33 here again.....I meant 99 Gates at $1.4 million not 109 Gates.Sorry.

Posted by: guest at October 12, 2007 7:27 PM

Christ, this blog has turned into a battleground for desperate brokers who say "this property will DEFINITELY fly off the market at more than ask".

Posted by: guest at October 12, 2007 8:22 PM

Midwood Park house priced very reasonably. Kitchen and bath are livable but can use an update. The hosue is basically move in condition. The area may not command Park Slope prices yet, but as with Park Slope, as things start to improve prices will certainly appreciate. so now would be the time to buy before you're priced out. 2:34 is incorrect in his/her assessment that the area "will totally crash when the market slows" and that the area is far out.

Posted by: guest at October 12, 2007 8:50 PM

newkirk plaza is cute with the car free overlook on the trenched station and all .. but I'd slit my wrists if that was my local shopping strip. The most exciting thing in the area to walk to is that pizza place - the one that requires an hour wait for a slice, the hasids run much of the retail nearby. I'm not seeing those stores getting gentrified in the sense that this blog wants for half a decade to a decade - and that is WITH the economy staying perky. There are too many high density housing blocks in the area.

So if you want to live near newkirk, yeah you're gonna have your nice house and porch, but you also have a car that you drive everywhere in.. that isn't quite the idea that many of the million dollar+ buyers have in mind. If you are patient you can find a similar place half a block from cortelyou. Hell, I saw a larger/nicer FSBO on glenwood cul-de-sac for 9xx K.

Posted by: guest at October 12, 2007 9:46 PM

DP may not appeal to you 9:46 but it must appeal to enough million plus buyers because that's how much houses are going for over there. The neighborhood has already rapidly gentrified to suit the needs of the newer residents who may or may not want the same amenities "in the sense that this blog wants." Some people prefer Brownstones and others stand alone Victorians. Others still don't mind a condo or coop in an apartment building. Brooklyn even has million dollar beachside homes and those on the bay with backyard docks. This is the beauty that is Brooklyn. There is something to suit almost every buyer.

Posted by: guest at October 12, 2007 10:26 PM

Every buyer with money.

Posted by: guest at October 12, 2007 10:30 PM

Midwood Park house price is absurd! That's under my budget , but i wouldn't consider spending that for that house. I can't imagine anyone would.

Posted by: guest at October 12, 2007 10:47 PM

Bill HR3648. The Senate-bound phantom income bill
http://www.quickenloans.com/mortgage-news/article/682.html

People pray to your GOD this bill don't pass. If a Homeowner can work out shorts sales this way, people will walk away. Values will go down.

The What

Someday this war is gonna end......

Posted by: guest at October 13, 2007 12:02 AM

Re: 108 Lincoln Pl.
The asking price is 2.8 Mil but, the income is 68K???!!!

That 41 times the rent roll. *Just Shrugs*

The What

Someday this war is gonna end.......

Posted by: guest at October 13, 2007 12:09 AM

1. Hey the What--go jack off your mother, who has a big juicy penis

2. Anyone ever heard of a seller or broker getting it on with a buyer to close a deal?

I only ask because I saw a TV show where the car saleswoman got it on with the buyer to close the sale. I guess she needed the commission. Probably more likely to happen in CH or PLG or somewhere like that.

Posted by: guest at October 13, 2007 1:06 AM

The shit is about to hit the fan.

http://www.bloomberg.com/apps/news?pid=20601087&sid=al1pBplw2gaU&refer=home

The banks trying to cover their asses. Pray for the best.

The What

Someday this war is gonna end.

Posted by: guest at October 13, 2007 9:41 AM

Nice try Angela Miller-Roberts.

Posted by: guest at October 13, 2007 11:28 AM

Interesting that all these places on Lincoln Place are for sale. Corcoran has another one, #128, listed for $2.75 million. As someone said earlier in the thread, Park Slope is white hot. That house on Berkeley Place for $3.4 million is in contract after being on the market for what seemed like no time at all.

Posted by: guest at October 13, 2007 12:00 PM

10:47, regarding Midwood price, it's not an area where sellers are getting full asking or over asking all the time. Anyone who loves the house should just offer lower. It's in the realtor MKG's interest to overprice her properties. Helps her over time inflate the prices in these neighborhoods she focuses on, and it helps her get clients. Corcoran overprices everything too and always has to sell for under asking. However yeah, the houses I went to see in Ditmas were shockingly overpriced for all the work they needed. Starting with replacing vinyl siding. That alone is a biggie.

Posted by: guest at October 13, 2007 12:35 PM

But guest1966, going for under ask means nothing when the realtors price the houses higher than recent comps. To really see if prices are dipping, you need to compare actual sales prices, say from 6 months ago to now, or a year ago to this year. NOT compare asking price to the sale price. That doesn't tell you anything. Every report on actual sale prices says prices in Park Slope are still rising, not falling.

Posted by: guest at October 13, 2007 12:40 PM

Wonder if the Lincoln Pl. owner is selling before installing kitchens because (1) owner thinks the market is going to go lower soon, or (2) has realized that everyone who has money to spend on a house doesn't necessarily like the same-as-the-rest (and rather dark in most brownstones) dark cherry/stainless steel/granite combination.

Posted by: guest at October 13, 2007 1:51 PM

The reason 128 Lincoln looks so much nicer (besides still having its wood detail and thus looking more like the grand-style house we expect from brownstones) is that it appears (from the floorplans) to be a much wider house. There's a big difference between a room that is 10.5' wide and one that is 12' wide. Under 12' often feels kinda cramped for living and dining rooms, in my opinion.

The 108 Lincoln duplex may be labelled as having 1 bedroom, but it really has six rooms, so I could easily see someone using it as a two bedroom - and still having a LR, DR, K, and office/guest room. But the narrowness of the rooms would still make it feel cramped.

The adjoining bedrooms would work for someone with little kids (you're up when they're up.) But then, this house isn't even in the 321 school district. Even so, that a house was in the 321 district used to be the selling point for houses in 321 - but I can't really see it anymore at these prices. If you can afford this house, you'd be better off to live further out with more room, and use the money you didn't spend on a house to send your kids to private school. While I suppose all those tenants living above you help out with the humongous mortgage, I'd rather live without the tenants further out.

Posted by: guest at October 13, 2007 2:23 PM

Park Slope is white hot. Another Berkeley Place fixer went into contract in August. I believe for just a little under 2.7 million.

Needed a good 400-500K in improvements.

So yes, I do believe the Park Slope Brownstone market...especially the prime North block locales are increasingly "hot" and popular. East train access with the 2/3 and Q only add to the appeal. Less than 15 mins to Union Square and about the same to Wall Street.

Doesn't get much better than that.

Posted by: guest at October 13, 2007 3:05 PM

Please just shut up already. Everyone knows Park Slope is "hot". It has been for A LONG TIME. THIS IS NOTHING NEW--duh.

However, this does not mean you can slap any price on any house and that it will sell. There are quite a few properties on the market in Park Slope that have been languishing, and that have had their prices recently reduced. I know this since I have seen pretty much every house on the PS market over the past 5 months.

Posted by: guest at October 13, 2007 4:38 PM

Please correct me of I am wrong. I am sure someone will be more than happy to do so. If a house sells for a certain price, then it must not have been overpriced because someone thought it was worth paying what they paid. If a couple of someones purchased similar homes in close proximity to each other for around the same prices then those houses are worth what they paid. No matter how high Corcoran or MKG set a price, won't the market i.e. the buyers really set the price? I use to say that many houses were overpriced especially, if I couldn't afford them or didn't like the neighborhood. But many of the houses that I wouldn't buy were purchased by others.

Posted by: guest at October 13, 2007 4:55 PM

"I can't imagine anyone would." 10:47, you don't have much of an imagination.

Posted by: guest at October 13, 2007 5:26 PM

Anyone else getting tired of stupid fucking brokers mindlessly repeating that "Park Slope is White Hot" in their swirly-eyed catatonic state? Or saying the same thing about every other neighborhood for that matter?

Yes 12:34, I have seen the same thing as you. Properties have ABSOLUTELY been sitting on the market longer in all of the "Blue Chip" Brooklyn nabes since July. Period. Properties that I would have thought would have flown off the shelves. And they are sitting there at pre-credit-crunch price levels. The very real situation is that buyers are balking and sellers are negotiating.

Posted by: guest at October 13, 2007 9:09 PM

This board is where brokers go to jerk off into each others' mouths.

Posted by: guest at October 14, 2007 5:59 AM

9:09 is the most catatonic post here.

some pathetic soul wishing they had the money to buy.

Posted by: guest at October 14, 2007 1:20 PM

Lincoln House open house was PACKED.

Posted by: guest at October 14, 2007 1:58 PM

104 is really nice. i think there are a few offers in already.

108 not as nice in my opinion but also overhead someone saying they were putting in an offer today.

guess this is what these places are going for these days. the location is perfect, though. lincoln is a nice block.

seemed like a lot of young couples out today at both of these places. saw quite a few gay couples as well. heard one of them say they are looking to move from chelsea. from their 1 bedroom!!

i suppose that's why these places are so attractive to manhattanites. sell your 1 bed and buy an entire house in brooklyn for just a little more.

Posted by: guest at October 14, 2007 2:37 PM

oh please...since when is your basic 1-bdrm in Chelsea worth over 2 mil?

Posted by: guest at October 14, 2007 4:11 PM

I hear both 104 and 108 have accepted offers for - no joke - 25% above ask. Same buyer, planning on combining the units. They weren't aware of 106, though. That's how hot this market is.

Posted by: guest at October 14, 2007 4:28 PM

I also hear the brokers from Corcoran served each other hot lunches during the open houses.

Posted by: guest at October 14, 2007 4:30 PM

I want to eat Barbara Corcoran's hot lunch.

Posted by: guest at October 14, 2007 4:32 PM

Yea, heard the offers were above ask too...

Posted by: guest at October 14, 2007 4:53 PM

I heard the Lincoln Place houses were so hot that the seller is now requiring that potential buyers pay one percent of the asking price for the right to make an offer. Watch out for this trend growing all over Brooklyn.

Posted by: guest at October 14, 2007 5:22 PM

i saw bjork at the open house.

Posted by: guest at October 14, 2007 5:30 PM

I heard that they had had velvet ropes at the door.

Did I mention I want to eat Barbara Corcoran's hot lunch?

Posted by: guest at October 14, 2007 6:03 PM

I heard that Lindsay Lohan and Paris Hilton are buying the Lincoln Place homes and turning them into hers and hers nightclubs.

Posted by: guest at October 14, 2007 6:12 PM

I hear that Corcoran hired a chimp to dance around with a sign saying "Park Slope is One of the Top Ten Neighborhoods in the Country!!"

Or maybe that was a Corcoran broker.

Can someone who went to the open house please confirm?

Posted by: guest at October 14, 2007 10:21 PM

Seriously people,

RE: Open Houses. I've gone to one or two in my neighborhood and usually run into neighbors who already own homes but are just as nosy as me. I think they are more for the broker to scout out possible clients than for the sellers.

Posted by: guest at October 14, 2007 11:00 PM

I heard the buyer bought the air rights from 106 and is going to connect 104 and 108 Habitrail-style.

Posted by: guest at October 15, 2007 12:10 AM

That is true about the plans for a Habitrail between the two buildings.

But that is not where it ends. Apparently the new owner of the Lincoln Place houses is going to extend the Habitrail network to send his three children (via vacuum tube) to PS 321.

This is all hush-hush, since the Lincoln houses are zoned for 282, not 321, but the little precious creatures are worth every penny. I understand that, in the meantime, Corcoran/BHW are still trying to change the zoning for 321 to include the lots of the two houses.

10:21 - yes, there was in fact a dancing chimp at the Corcoran open house. Corcoran has agreed to include the chimp in the deal, which is why the offers received on Sunday were double the asking price. So, it's not just Park Slope but chimps that are White Hot. Corcoran now says that a dancing chimp will be a regular selling strategy at their open houses, in addition to the usual broker-on-mule sex acts.

Posted by: guest at October 15, 2007 5:41 AM

Did anyone actually go to the Midwood open house? At that size and asking price, I would assume it is nicely renovated and has good details, but it was hard to tell from the pictures. Just curious.

Posted by: guest at October 15, 2007 9:45 AM

Forget about the air rights for 106, I heard that the owners of 106 also sold the underground right to the mice th live in 104 and 108 so now they can also go under 106.

Posted by: guest at October 15, 2007 10:12 AM

FWIW, we went to the 108 Open House and although it's so hard to imagine paying $2.9mm for anything (way out of our pricerange), I will say that it was just beautiful!!!! The period details were really amazing and well restored. I'll be curious to see whether it sells for close to ask. As a buyer, I hope not (need some price softening PLEASE). But my gut is that maybe it will.

Posted by: guest at October 15, 2007 10:30 AM

My gut is that you're a broker.

Posted by: guest at October 15, 2007 10:32 AM

108 is not beautiful. It's unfinished. The floor on the parlor level is torn up and warped, and the front parlor has an inexplicable (and modern) formica counter in it (even though the kitchen is on the garden level). Most rooms were missing baseboards. And there were holes in the ceiling drywall.

Posted by: guest at October 15, 2007 10:39 AM

Look, you go to Streeteasy and you see that 104 and 108 are flips. The current owner bought them within the last 12 months for well below what he's asking now.

Yet the buildings are far from being renovated. So, why is he flipping now?

Because he's scared shitless of this market and doesn't want to wait any longer. Corcoran and BHW are telling him the same thing - "Sell these properties NOW. If you wait until they're fully renovated, it'll be too late!"

It's not rocket science, folks.

Posted by: guest at October 15, 2007 10:50 AM

Actually 10:32, I'm just a girl who went to the open house with her husband and in-laws out of curiousity (and to show my in-laws just what these beautiful places are like), and so totally NOT a broker. But we ALL thought this place was beautiful. And yes, of course it was under construction. But the molding and wainscotting and stuff that they had restored was truly just beautiful. Like I said, I would not likely pay that kind of money for the place even if I had that kind of money, but we all thought for sure it was beautiful. (And I knew it was a flip so it really irks me that he can flip it for that kind of money. Let's see if he's actually able to though- not so sure about that.)

10:50- I hope you are right!!! That would be great for us (buyers but at a much lower price point).

Posted by: guest at October 15, 2007 11:03 AM

you're an idiot, 10:50.

he bought at 1.7 million.

at the very miniumum he'll get 2.5 on each in which case i don't think an 800K profit on each home in a year is too shabby.

certainly not cause for your apocolypse-now like tirade.

just because you can't afford park slope does not mean that homes aren't selling for high prices.

Posted by: guest at October 15, 2007 11:07 AM

Hey 11:07, 10:50 here. Can afford it, thank you, but won't pay for it. And you say nothing that contradicts or disputes the situation.

If he can get $2.5M, all the power to him.

My question is - why now?
Why rush, before he's come close to completing the renovation?
Why sell when the interior details are crappy (see above post from open house)?

Again, it doesn't take a genius to see that these properties are being rushed to market. So why rush them?

The obvious answer: He and his brokers believe the market is more likely to be weaker than stronger in the near term.

Posted by: guest at October 15, 2007 11:18 AM

you're the only one saying the interior details are crappy, 11:18.

someone just said they were gorgeous and you called them a broker.

who to believe? a detailed account of the home or a troll.

hmmmmm

You clearly have no concept of real estate in Park Slope if you don't think these will sell at 2.5 or higher. NO CONCEPT.

Posted by: guest at October 15, 2007 11:23 AM

You have no IDEA that these are "being rushed" to the market. You are speculating.

Maybe he's sick. Maybe his wife died. Maybe he's moving to Florida.

Who the hell knows and who the hell are you to say that he's rushing them to the market.

Maybe he's find with a 1.6 million dollar payout in a year.

God you are ignorant.

Posted by: guest at October 15, 2007 11:27 AM

BORING. BORING. Anyone defending the flip properties to the extent expressed in the above posts has a vested interest or connection to the properties in question. So please, spare us.

Posted by: guest at October 15, 2007 11:37 AM

Please post photos of dancing chimp. Thank you.

Posted by: guest at October 15, 2007 11:39 AM

See post 10:39 regarding interiors.

Posted by: guest at October 15, 2007 11:45 AM

not a broker, idiot.

Posted by: guest at October 15, 2007 11:49 AM

not an idiot, broker

Posted by: guest at October 15, 2007 12:13 PM

I can't believe brokers pay to have their listings constantly ridiculed on this site.

Posted by: guest at October 15, 2007 12:19 PM

12:19--every heard the expression "any publicity is good publicity"?

Posted by: guest at October 15, 2007 12:21 PM

...and to have their profession ridiculed as well.

Do you think they really deserve it?

Posted by: guest at October 15, 2007 12:22 PM

Very true, 12:21.

I asked a broker once if he minded that some of his listings get picked up on brownstoner and oftentimes are trashed.

He said he didn't care, because no matter whether the property was trashed or not....it always sold quicker than a property not highlighted here.

Interesting, no?

Posted by: guest at October 15, 2007 12:24 PM

There are many many brokers who truly love real estate and find it fascinating and interesting and are honest and all that good stuff.

I don't understand why they get such a bad rap to be honest.

Posted by: guest at October 15, 2007 12:36 PM

Hey 12:24, why don't you just log-in as Mr. B?

Posted by: guest at October 15, 2007 12:47 PM

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1079032

Posted by: guest at October 15, 2007 1:29 PM

1:29, admittedly just judging from the photos of the Berkeley property (but having seen 108 Lincoln in person), the Berkeley place appears to be in MUCH better shape than 108 Lincoln.

Posted by: guest at October 15, 2007 1:35 PM

the berkeley property has a signed contract, from what i understand, no?

Posted by: guest at October 15, 2007 1:39 PM

This is 1:35 again -- sorry, 1:29 is of 128 Lincoln, not Berkeley. Other than duffing the address, my comment remains -- 128 appears to be in much better shape than 108.

Can't comment on 104.

Posted by: guest at October 15, 2007 1:48 PM

Regarding selling 108 now (unfinished), it COULD be about market timing as 10:50 seemed to imply, but I don't think so. I think the seller is just trying to sell at the earliest possible time he can, so that he can carry it as short a time as he can. In other words, it will be done by the time close happens, and he can market it as something where the buyer can pick out their kitchens and baths and stuff. It just totally eliminates any risk associated with buyers not liking finishes, and shortens the time he has to carry it. A LOT of developers do this (with new properties and such)- it's a pretty standard move.

Posted by: guest at October 15, 2007 2:24 PM

I suppose, except that as recently as last week, the seller was trying to find renter tenants to fill both properties (even as the units were unfinished). The part marketed as the owner's duplex was being listed for tenants as well...the listings were all over CL and the brokerages. I don't know how the seller was planning on finishing the work -- let alone sell the properties to move-in (vs investment) buyers with tenants filling the building.

Posted by: guest at October 15, 2007 2:29 PM

2:29, that's very interesting. (It's 2:24 here). Maybe he is in a hurry to sell from a market risk perspective. That would be great for me (as a potential buyer, I'm hoping for a slight dip to be honest). I will say that the broker at 108 told me yesterday that the seller thinks he could finish the place within a week. I found that HIGHLY unlikely (actually started laughing when I heard that).

Posted by: guest at October 15, 2007 3:14 PM

i heard there were offers on both places.

they had the open house yesterday for back-ups.

Posted by: guest at October 15, 2007 3:16 PM

3:16 - well, we'll find out soon enough, won't we?

Posted by: guest at October 15, 2007 3:41 PM

2:24/3:14 - that's funny. Having seen the place myself, I agree that a one-week turnaround is remarkably optimistic.

For those who want to see interior pictures, here are several CL listings for the "owners duplex" at 108 Lincoln. Of course, this is the listing for it as a rental (and some of them show the prior tenants' furniture in the photos). Note the rent drop ...

http://newyork.craigslist.org/brk/fee/441445781.html
http://newyork.craigslist.org/brk/fee/449549890.html

Posted by: guest at October 15, 2007 3:59 PM

OK, Park Slope, brokers, open-houses, celebs, milfs, and thewhat... GO!

Posted by: guest at October 15, 2007 4:58 PM

Uhmm... Atlantic Yards, Starbucks, parking... GO!!

Posted by: guest at October 15, 2007 6:08 PM

Oh come on. Is Dan Zanes in town or something??

Posted by: guest at October 15, 2007 6:13 PM

Stroller moms, stroller moms!!!!

Posted by: guest at October 15, 2007 6:15 PM

Oh I give up. No one to rehash tired cliches constantly espoused in this space.

Posted by: guest at October 15, 2007 6:24 PM

wow--thanks 3:59. These houses look very narrow.

Posted by: guest at October 15, 2007 11:53 PM

11:53, they houses are 18' wide, so they're not especially narrow (granted, they could be wider) -- but the way they're laid out, the parlor rooms tend to only be about 10' wide, and quite long, which makes them "feel" narrow.

If the walls separating the stairway and the parlor are not structural, I'd take them out if I were the owner.

Posted by: guest at October 16, 2007 8:05 AM