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January 24, 2008
House of the Day: 280 Park Place

We're liking the old bones at 280 Park Place, a new (surprisingly nice) listing from Century 21. The four-story house is also well-suited to a condo conversion because of its two-story addition. That said, this would take a lot of dough to convert, and it's not really in move-in condition for a two-family play either. Given both those factors (and the fact that the market's jittery), we don't think that the asking price of $2,100,000 is realistic. More like $1,900,000.
280 Park Place [Century 21] GMAP P*Shark
280 Park Place [NY Times]
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Comments
So, you have to drop $500k per floor, and then do a complete reno to sell these as condos? Rather slim profit margin, don't you think?
Posted by: guest at January 24, 2008 1:40 PM
Put that same place in CG, Corcoran could get 8.5 mil for it!
Fuhgedaboudit!
Posted by: guest at January 24, 2008 1:41 PM
This will be worthless once...
Posted by: guest at January 24, 2008 1:44 PM
Where's the What? Where's the What??
Posted by: guest at January 24, 2008 1:45 PM
That's quite a funky slideshow C21's got going on. And I'm glad they've taught all would be $2 million homebuyers that "condo" is actually short for "condominimum". Nice house though.
Posted by: guest at January 24, 2008 1:47 PM
Yep, LOVE the soundtrack for the slideshow. Mesmerizing...
Posted by: guest at January 24, 2008 1:48 PM
I think the facade is painted brownstone. I drove by the other day and it looked like chipping paint. How do you restore the facade and how much would it run you? 100K? I'm assuming you have to strip the whole facade and re-brownstone it?
Posted by: guest at January 24, 2008 1:51 PM
Is that dust on the staircase or is that intentional as part of the 'old' charm?
Posted by: guest at January 24, 2008 2:00 PM
i'd rather have this place
http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1107467
Posted by: guest at January 24, 2008 2:15 PM
I think this house should go for close to 2mil the home across the street sold for that a few months ago. The prospect heights homes all have large lots so the back yard on this house should be huge...
Posted by: guest at January 24, 2008 2:25 PM
That's a nice apartment, but like the similarly-sized condo of the day on Tuesday, more than a tad overpriced.
Posted by: guest at January 24, 2008 2:27 PM
Prospect Heights is the new hot area... Not full of a bunch of stuck up people. Houses in the area don't come on the market often. This house should go fast...
Posted by: guest at January 24, 2008 2:28 PM
$1.4m tops.
Posted by: guest at January 24, 2008 2:29 PM
Prospect Heights is Park Slopes Clinton Hill and like Clinton Hill the area keep growing not Prospect Heights ends at Franklin Ave.
Posted by: guest at January 24, 2008 2:30 PM
Nice house, nice location, big yard - it'll sell, as it would make a nice home (with or without rentals in it.) Too bad they can't include a floorplan.
Posted by: guest at January 24, 2008 2:30 PM
Brownstoner says "we like" the listing. Does that mean its going to sell? Just want to know. You are all so influential here.
Posted by: guest at January 24, 2008 2:31 PM
prospect heights just grew more.
I thought it ended at Washington
Posted by: brooklynjennie at January 24, 2008 2:41 PM
this is between vanderbilt and underhill. not vouching for the place, but doesn't get more prospect heights than that
Posted by: guest at January 24, 2008 2:44 PM
So go to the C21 slideshow, listen to the music, then freeze on the kitchen photo. Stare close, listen to the msuci and thing.
WHAT IS IN THAT YELLOW BUCKET?
This listing is a joke.
Ghetto fabulous.
Posted by: guest at January 24, 2008 2:46 PM
there were also two shootings within two blocks of this place about 2 weeks ago.
Posted by: guest at January 24, 2008 2:47 PM
Stop with teh freakin condo conversion talk.
Overpriced by $250K
You don't re-brownstone a facade.
Posted by: guest at January 24, 2008 2:48 PM
"Prospect Heights is Park Slopes Clinton Hill and like Clinton Hill the area keep growing not Prospect Heights ends at Franklin Ave."
Prospect Heights is indeed to Park Slope, what Clinton Hill is to Fort Greene. And yes, both neighborhoods are quite small and the boundaries of what's considered Prospect Heights and Clinton Hill keep 'growing'. I just don't understand the Franklin reference. This house appears to be on Park Place btwn. Vanderbilt and Underhill. To my knowledge, that's still very much Prospect Heights. Am I missing something?
Posted by: guest at January 24, 2008 2:48 PM
Oh, and I love that slide show...the music is great. That house is really dusty, though. Either it hasn't been occupied in ages, or has not been well maintained. I'd be curious to know how old the plumbing and wiring are.
Posted by: guest at January 24, 2008 2:49 PM
You're funny, 2:46. I thought the same thing. Only more along the lines of, how lazy do you have to be to leave the bucket in the camera shot...IT'S GOT WHEELS!! for crying out loud. Roll it out of the way!
Posted by: guest at January 24, 2008 2:52 PM
Sorry, but I don't agree, 2:48.
Prospect Heights is its own neighborhood...it has nice restaurants and bars on Vanderbilt. It also has it's very own subway trains and much better access to Manhattan than Clinton Hill, which has neither transportation NOR services.
Which is why I don't understand why most properties I see for sale are more expensive in Clinton Hill than they are in Prospect Heights.
And I live in Park Slope, so not saying any of this as a resident of either area, but just as a fellow Brooklynite who enjoys both areas, but I think of Prospect Heights as more of an actual neighborhood but Clinton Hill more as a bedroom community to Ft. Greene.
Posted by: guest at January 24, 2008 2:52 PM
"Sorry, but I don't agree, 2:48.
Prospect Heights is its own neighborhood...it has nice restaurants and bars on Vanderbilt. It also has it's very own subway trains and much better access to Manhattan than Clinton Hill, which has neither transportation NOR services."
You may want to do a bit more research. Your reference to no services and no transportation in Clinton Hill could not be further from the truth. In fact it's way off. Fort Greene is definitely close enough to take advantage of all it has to offer, but you don't have to walk out of Clinton Hill to buy good wine, have a nice meal, grab a good cup of coffee, go to the dry cleaners or drop off your laundry. And, the commute is 15-20 minutes to wall street. Say what you will about the G or C trains, but during rush hour the commute is seamless.
Posted by: guest at January 24, 2008 3:00 PM
Depends on where you are in Clinton Hill when you talk about subway access. I live 1 1/2 blocks from the C train and work near Wall Street. A lot of P Heights people actually walk over to Clinton Hill's C train stop at Washington. It varies. As for a bedroom community to Ft. Greene, not sure wha that means. Clinton Hill and Ft. Green are very small, each is smaller Prospect Heights I'd say. Clinton Hill is more varied in architecture with freestanding mainsions and many different styles of row house. I like all three neighborhoods personally.
Posted by: guest at January 24, 2008 3:03 PM
We even have a day spa.
Posted by: guest at January 24, 2008 3:04 PM
Aside from Myrtle and Fulton, there are no major commercial strips in Clinton Hill. Other business are scattered throughout, which I kind of like.
Posted by: guest at January 24, 2008 3:11 PM
I live in PH and love it. This house is in a great location.
Not that I'm trying to start an argument here, but in my opinion, PH has better transit access that PS. There's the 2/3 & B/Q stops on Flatbush, and the C isn't too much of a walk. Just wondering: how do you mid-Slopers get to Manhattan?
Posted by: guest at January 24, 2008 3:15 PM
Five years ago, when my friend bought his place is Prospect Heights, it was listed as "Park Slope adjacent." Evidently the neighborhood had far less cachet back then.
Posted by: guest at January 24, 2008 3:24 PM
Midslopers do walk further to the train. But the walk is pretty, and you get more exercise that way. Have only been a north sloper, so don't know. But have always avoided being a south sloper dependent on the F train - I like having more than one option.
Prospect Heights is a triangle, and some parts are closer to trains than others...but agree, much is very close.
Posted by: guest at January 24, 2008 3:26 PM
"how do you mid-Slopers get to Manhattan?"
I'm two blocks to the R and the F. Works for me.
Posted by: guest at January 24, 2008 3:29 PM
Besides the yellow bucket, I think the best part of this listing is the sentence:
"Can easily be converted to condominiums (condos)."
What are we friggin idiots and don't know what the word "condominium" means? How likely is it that someon who doesn't know that a condominium mean a condo would interested in the conversion process? I bet the What wrote the description.
Posted by: Brooklynnative at January 24, 2008 3:34 PM
"Five years ago, when my friend bought his place is Prospect Heights, it was listed as "Park Slope adjacent." Evidently the neighborhood had far less cachet back then."
A lot of neighborhoods didn't have much cachet. Up until I moved to Brooklyn 8 years ago, the only two Brooklyn neighborhoods I'd ever heard of were Brooklyn Heights and Bayridge. Mind you, I did'nt know where either were located, and I was born and raised in this city. Awareness breeds discovery.
Posted by: guest at January 24, 2008 3:37 PM
Or, rather, discovery breeds awareness (I meant to say...makes more sense)
Posted by: guest at January 24, 2008 3:37 PM
"Prospect Heights is a triangle, and some parts are closer to trains than others..."
actually, it's a diamond, bounded by flatbush, atlantic, washington, and eastern pky. but your more general point is correct.
Posted by: z at January 24, 2008 5:12 PM
Sharing the honors with Prospect Pl btw Vandy and Carlton, this is generally considered by local residents (yup, I'm one of them) to be the best block in the nabe. Fantastic location nr subway, park, museum and stores. This house is very close to Vandy -- that's the apt bldg fronting Vandy that you can see on the right. Agree it looks like it needs a ton of work. But it has a lot of upside so I'd guess that, unless the market totally tanks in the next 4-8 weeks, brownstoner is pretty on target with his $1.9m guesstimate. Certainly no lower than $1.75m.
Posted by: guest at January 24, 2008 6:54 PM
This building is in prospect heights. I thought crown heights began at washington? I heard brokers are now calling franklin ave. prospect heights which is not true. The brokers would love crown heights to gentrify and become prospect heights.
Posted by: guest at January 24, 2008 8:20 PM
So how do you fix the facade? It's painted and it is chipping. Walked by today and big chunks of paint are falling off.
Posted by: guest at January 24, 2008 8:35 PM
they apply a solution to the paint, which makes it easy to remove.
then depending on the condition under the paint, it will either need to be cleaner, or the brownstone facade will need to be replaced.
Posted by: guest at January 24, 2008 9:01 PM
Aren't there still issues with development in Prospect Heights? Meaning, because it is not yet a historic district, can't a developer potentially buy this house or the one next door, knock it down and build something new?
Posted by: guest at January 24, 2008 9:15 PM
First time I heard somebody refer to Vanderbilt as "Vandy," I thought it was kinda cute.
Now, I think you need to quit it.
Posted by: Rehab at January 24, 2008 9:57 PM

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