House of the Day: 41 St. Marks Place

Are you kidding me with this price:

This is a nice enough block, lots of trees, but at 2.6 million, its really overpriced. I think its still very steep at $2m. Particularly in light of the downward trend in housing prices combined with a serious downward trend in the sock market (international markets fell anywhere from 3 to 6 percent today)

Where the heck is The What when we need him.

If this were The Price is Right, I'd bid $1 and win!

Posted by: guest at January 21, 2008 1:36 PM

I am a resident of Park Slope, just the other side of 4th Avenue, and have frequently defended prices in the area here. Having said that...

WTF?!!!!!

$2.65M? The floors had better be made of solid gold.

Posted by: guest at January 21, 2008 1:37 PM

what is the point of having a broker if they can't even price the house correctly. It would seem like a waste of money to me.

Posted by: guest at January 21, 2008 1:51 PM

is this park slope or gowanus?

Posted by: guest at January 21, 2008 1:56 PM

please watch the opening of the market tomorrow it will be black tuesday very possibly

the what is meeting with uncle ben bernanke today

got my popcorn

Posted by: guest at January 21, 2008 1:57 PM

Maybe the premium comes with a 6 month membership in the "Lara Alramahi is a hottie dating club"?!?!? Forget the house, I wanna know if she is single.

Okay, back to the house. The rent roll is at the top of that market so you buy it, live in a owner's duplex (basement plus first floor) for a mortgage of 15K plus maintenance minus 5.5K/month in rent....9.5k plus the maintenance/oil/renovation issues/landlord hassle?

Ain't going to happen at this location and this building. Guessing also that no interior photos mean that more than the basement needs renovating.

It is taken off the market in three months to reappear 3 years from now at this price or lower is my prediction.

Posted by: guest at January 21, 2008 2:00 PM

Holy Sh*t is she hot - I'm going to the bank right now to plunk down everything I got just for a shot at her!

Posted by: guest at January 21, 2008 2:12 PM

From the listing:
"It has full basement but it needs to renovate and it exits to the sweet lovingly garden."

Good lord, I've seen posts by The What on brownstoner with better grammar than that sentence. Are they running a blog over there at Elliman or do they exercise any kind of quality control before listings go up? At least she seems to have used spell-check.

Posted by: guest at January 21, 2008 2:18 PM

Realtor may be hot, but literate she ain't. Anybody else read the description, or did she have you at hello? And I quote:

"It has full basement but it needs to renovate and it exits to the sweet lovingly garden." Glad to know it "Can be a great place to live or invest."!

Maybe it's a new trend in Brooklyn RE sales strategies as the market heads south: recruit anyone with a hot photo, price the property at over $2.5M, and hope for the best...with armchairwarrior and 2:12 among the gawkers, who knows, it might work. Just make sure you get your money back if the agent's not included in the deal.

Posted by: guest at January 21, 2008 2:21 PM

Is she single?

Posted by: guest at January 21, 2008 2:26 PM

i don't think she is that hot

Posted by: guest at January 21, 2008 2:26 PM

she is hot?

hate to see her in the morning sans makeup and spray on tan

yuck

Posted by: guest at January 21, 2008 2:32 PM

Jumping Jehosaphats !!! 2.65 for what?!
I'm getting some hot babe to sell my PRIME park slope building for 8 mil.!

Posted by: guest at January 21, 2008 2:42 PM

Synchronize your watches, folks. It's now 2:43 PM, and we know every brokerage reads this blog, especially when one of their listings is HOTD. How long do you think it'll take Elliman to rewrite and repost the description? (Note: this is a test. It's a holiday weekend, so we'll see if Elliman's paying attention 24/7, as any brokerage should on behalf of its clients - to say nothing of the fact that it should have caught the errors before they went live.)

Posted by: guest at January 21, 2008 2:42 PM

Okay folks this place is not in PS,probably needs a ton of work (no interior photos) and is overpriced by @ least $1 million. Now as for the cute but brainless babe she is included in the price...new sales technique for marginal homes in marginal hoods :) haha

Posted by: guest at January 21, 2008 3:14 PM

3:14, see 2:21.

Posted by: guest at January 21, 2008 3:16 PM

Still overpriced by at least $1m.

Posted by: guest at January 21, 2008 3:18 PM

MEMO to the broker: If you've been paying attention and following the comps, which you probably haven't, you will have noticed that 60 St. Mark's, a beautiful 1-family brownstone in REAL Park Slope failed to sell at $2.65 million and was taken off the market after many months and many open houses. It started at $2.8 million. Dream on that your listing will be able to pull it off.

Posted by: guest at January 21, 2008 3:21 PM

99 St. Marks Place, which was on the other side of 4th (between 4th and 5th), had an extra story (4 story) and was 20x45 on a 100ft lot and also a rental property (but not in terrible shape) and it was listed in October for $1.595. We had an accepted offer on the place at $1.625 and we backed off but there was an all cash offer behind us that went into contract quickly. But clearly since ours was not all cash and that was all cash, that offer was less than ours. So basically that house in a better location with an entire extra floor closed for over $1mm less than this place. This is a CRAZY PRICE!!!!!

Posted by: guest at January 21, 2008 3:22 PM

The broker is hot only if you're into the Euro-Arab trash look.

Posted by: guest at January 21, 2008 3:26 PM

I'm guessing that English is her second language, so give her a break. That said, this really is a pitiful listing.

Price is ridiculous.

No photos, faugh! Even one of the hallway is better than nothing. I can't believe they couldn't find one redeeming photo for a house this expensive.

Someone at the office should have proofread her copy.

The seller and broker should have checked their comps, and done a reality check.

Posted by: guest at January 21, 2008 3:28 PM

That block is considered Boerum Hill, not Park Slope, and while it is convenient to all in the 5th Ave. area, it is not the greatest block in the world - dark and a bit dangerous, given that it is right next to the projects.
And the lack of interior photos makes me sure that it needs a lot of work. I might pay 2 mil for a newly and beautifully renovated single or 2-family home of that size, but not this!

Posted by: guest at January 21, 2008 3:32 PM

While I live nearby and would love to see my property valued at well over two million, I have to say that this is ridiculous.

St. Marks between 3rd and 4th has a significant drug problem, along with the other problems that go along with it. You can walk down the street and hear dealers making deals at any time of day, as I did last week on a Saturday afternoon. And it isn't just one house. There are several that are centers for drug activity.

Perhaps this broker is one of the customers; it sounds like she was high when she priced the house and wrote that god-awful description.

Posted by: guest at January 21, 2008 3:37 PM

are we sure that broker is genetically female?

Posted by: guest at January 21, 2008 3:42 PM

who cares? is "she" single?

Posted by: guest at January 21, 2008 3:58 PM

This place looks like a dump. And it's on a crummy block AND it's full of tenants. You have to be kidding me.

Posted by: guest at January 21, 2008 3:58 PM

4:28 PM and Elliman still hasn't corrected the description. They're making Jerry M look good...

Posted by: guest at January 21, 2008 4:29 PM

Wait until dark (just maybe not on this block)...

Posted by: guest at January 21, 2008 4:42 PM

I would much rather move to Cobble Hill or Carroll Gardens much better nabe.

Posted by: guest at January 21, 2008 4:49 PM

DUMP DUMP DUMPY DUMP!

Posted by: guest at January 21, 2008 4:51 PM

I remember that block 25 years ago when it had NO trees... it's SO much nicer now, but that price wouldn't swing up the hill let alone there at the base of the slope. And to be exact, that area is historically known as Times Plaza... anything from St. Marks toward the clock, Third to Fifth.

Posted by: guest at January 21, 2008 5:43 PM

for a good time call (917) 414-1338

Posted by: guest at January 21, 2008 6:00 PM

That girl looks like she is Plastic.

Posted by: guest at January 21, 2008 6:47 PM

Man, some of you guys (and/or gals) are freakin' easy. If you think that chick is hot, you must have very limited access to good looking women.

Posted by: guest at January 21, 2008 8:26 PM

8:38 PM and Elliman still hasn't corrected the description. Potential sellers, take note...looks like nobody's minding the store over there.

Posted by: guest at January 21, 2008 8:37 PM

definitely slooow today.

Posted by: guest at January 21, 2008 9:43 PM

$2.65? For an occupied POS between 3rd + 4th Aves??

HAHA HA HAHA HA HA HA HA HA HAHA HA HA HA!!!

Posted by: guest at January 22, 2008 2:01 AM

This is going rapidly from comical to sad. Do you know what this house will sell for in eighteen months, two years? Very few people alive today, much less the sniveling broker bots who price Brooklyn real estate, have any clue what a financial unwinding looks like. Well, turn on your TV, Bernanke just hit the panic button.

Prediction: misery index creeps up in NYC; global recession; this house will be hard pressed to fetch $800k in about three years. By all means, prove me wrong. Buy it, live in it, then sell it for beeeg, beeeg profit in '011. Make me look stupid. I dare you.

Posted by: guest at January 22, 2008 9:27 AM

Earth to Elliman, 9:42 AM the day after your listing was HOTD on brownstoner.com, and still no correction on the description that never should have gone live in the first place. For this kind of service an owner will pay a commission (if, of course, it ever sells)? FSBO could do better.

Posted by: guest at January 22, 2008 9:43 AM

9:27....

the part you aren't realizing, is that 99% of people looking at this house aren't planning to sell it in 2011.

maybe 2020...maybe never.

but you know what...whenever we come out of this economic mess (which we ALWAYS do) prices will go back up.

this house will be 5 million by 2015.

JUST as likely as your scenario.

Posted by: guest at January 22, 2008 10:58 AM

Same writing style, different message...it's the What, post-lobotomy. Very scary thought.

Posted by: guest at January 22, 2008 11:05 AM

you could buy all of florida with the sale of a carroll gardens brownstone these days.

i really have a hard time imagining too many people moving to florida these days.

besides sunshine, it really doesn't have a lot going for it.

i recently read that it will be at least 20 years before florida goes back to 2006 home price levels.

Posted by: guest at January 22, 2008 12:37 PM

The problem with your assesment 10:58 is the bank will finance a percentage of what it appariases at TODAY, not 2011, 2015, 2020, or even 2006/07. The only thing that matters are what the comps are in 2008. If you are buying this place cash, then by all means spend the 3 million. BTW, we can easily say that a gallon of milk, a ride on the subway, a ticket to a ball game are going to cost more by 2015. Big deal, especially predicting real estate will rise a year after a dowturn has occured. If my aunt had balls she would be my uncle. How is that for a keen sense of the obvious.

Posted by: guest at January 22, 2008 2:11 PM

OK, folks, that's all she wrote. It's now 6:38 PM the day AFTER we ranted on this listing, and Elliman STILL hasn't corrected its text. Looks like their office (Oh, horrors!) DOESN'T READ BROWNSTONER! Is there any more to be said? Prudential Douglas Elliman is clearly unqualified to sell real estate in Brownstone Brooklyn!

Posted by: guest at January 22, 2008 6:38 PM

Blog blog blog blog blog bl90g blgob glboglblmscoknonefnefonoqwefnoqwenfonfonowefnoweinfiowenfoiwenofnweoifniowenfiwneifniwenfinweifniwenfinweionfowienfionweiofn'ENFOWNEOFNOWEIFNIOWENFO'NFIWENOIWENFIOWENFENFIOWENIONIOZnIONOINIONOINONOnonononndowiondoiqnoiwdnoqiwndoiqndionqwodnoqiwdnioqwndioqnwdionqwiodnqoiwndqiowndioqwndioqwndioqwdinqwdnqiwndinqowidnoqwidnqowidnqopwidnqoiwndqoiwndoqiwdnoqiwdnqiowdn'qiwnd'qiwnd'inqwd

Posted by: guest at January 22, 2008 8:49 PM

OK, nobody will ever read this post as it's scrolled into the archive. But lordy lord, PDE has CORRECTED the description, DAYS after all the comments above. It thinks.

Previous text: "It has full basement but it needs to renovate and it exits to the sweet lovingly garden."

Revised text: "It has full basement exits to the lovingly garden."

So much for Prudential Douglas Elliman catering to high end clients (whether sellers or buyers). Think maybe a few of the people with over $2M to blow on a brownstone speak English? If a brokerage can't even be trusted to write a grammatical sentence, who in their right mind would trust it to sell a building?

Posted by: guest at January 25, 2008 10:52 PM

Maybe the high price was decided on because the amenities include being conveniently located 3 or 4 doors down from the CRACK DEALERS on the block.

The neighbors also like to beat the shit out of their small children, so you'll never need to Netflix a horror movie again. You can enjoy a never-ending stream of screaming and wailing just by stepping outside.

If you don't like that, you can be sure to call the police who will respond by giving the drug dealer's your address so they can take it up with you personally.

Who WOULDN'T want to live on that block?

Posted by: guest at February 3, 2008 12:11 PM

We just listed a 4 story Brownstone at 112 ST Marks place btw 4th and 5th ave at 1.5 million.It has original detials galore.

We will be holding an open house every sunday 12-2 until it sells. The brownstone will be delivered vacant.

for more Info call Edie(realtor) at 917-209-9746

I value your opinion on this board , what do you guys think?

Posted by: guest at May 3, 2008 10:59 AM

Do you really want to know my opinion? After seeing the house I can predict that you will be there for the next few years, showing the house every Sunday between 12-2. With that price and the work that has to be done, you (or the owner) must be kidding. Nobody will give you more than 900,000–999,000.

Posted by: guest at May 9, 2008 1:20 PM

actually we have three very close to full prices offers on 112 st marks and a full price all cash deal in the works.WE are still showing till contracts get signed but wow this house is only 2 weeks on the market. Several others want come back with their contractors etc. and the only place we listed it so far was craigslist. we are having our last open house this sunday hopefull contracts will be signed by next week by first offer or all cash deal offer

Posted by: guest at May 14, 2008 9:10 AM