House of the Day: 436 Classon Avenue

2.2m for this house in Bed Stuy. This listing must be a joke

Posted by: guest at March 18, 2008 1:30 PM

It is a joke.

Posted by: guest at March 18, 2008 1:33 PM

...wait a minute. I gotta hit my crackpipe one more time.

Ahh! Better now!

Bidding war for 436 Classon Avenue. Me and my buddy, the pipe, predict $2.5 million and that a banker will buy it.

Posted by: guest at March 18, 2008 1:38 PM

I like what they have done with the place but agree that they are way off base with the price.

Posted by: guest at March 18, 2008 1:41 PM

I simply cannot understand why brokers do this kind of thing. Do they think there is anyone stupid enough to pay this price in this location at this point in the market?

Posted by: guest at March 18, 2008 1:42 PM

isnt this in clinton hill?

Posted by: guest at March 18, 2008 1:44 PM

"I simply cannot understand why brokers do this kind of thing. Do they think there is anyone stupid enough to pay this price in this location at this point in the market?"

Yep.

Posted by: guest at March 18, 2008 1:45 PM

"isnt this in clinton hill?"

clinton hill...bed stuy...it's all the same.

those names brokers made up during the boom will be the first to go during the bust.

Posted by: guest at March 18, 2008 1:46 PM

Meh Meh

Posted by: guest at March 18, 2008 1:47 PM

This is outrageous.
I remember 8 years ago walking from Park Slope to visit my husband (boyfriend at the time)at Pratt. I'd walk through this area and it was rough...how things have changed.

Holy Moly, that price is crazy. Are things really worth that in this area. Hard to believe. The house is nothing to behold!

Posted by: guest at March 18, 2008 1:51 PM

PR stunt. Not real.

Posted by: guest at March 18, 2008 1:56 PM

Ugly house attached to an uglier house in an ugly neighborhood.

Posted by: guest at March 18, 2008 2:00 PM

I hear the Fed loaned $3,000,000 to JP Morgan Chase to buy this building.

Posted by: guest at March 18, 2008 2:05 PM

Here is an example of what a smart person does with the economic news and what a not so smart person does with it.

1. The not so smart person whines and cries on an anonymous blog about how bad the economy is and how the world is coming to an end and that all homeowners are stupid.

2. A smart person buys stock of Bear Stearns for $2 on Monday morning and sells on Tuesday afternoon for $6.80 (it's current price).

I'm so glad I'm in category number 2.

Posted by: guest at March 18, 2008 2:10 PM

since everyone is bashing it, let me point out a few reasons why its not as crazy as all that.

1. the house is 20 by 60 - that means 1200 sq feet per floor - if it is indeed divided as a 3 family that would be around $700,000 per apartment. thats not far from most of the 1200 sq foot apts in the area, and if it were reduced a few hundred grand, it starts to make a lot more sense.

2. classen is developing extremely quickly, the derelict establishments like the bodega on clifton and classon are all gone, and numerous reputable and high end establishments are opening quickly.

3. no broker invented the term "clinton hill" - its an historic district - look it up. speak what you know.

If this place was anything close to 1,500,000 it would be a crazy steal.

Posted by: guest at March 18, 2008 2:11 PM

since everyone is bashing it, let me point out a few reasons why its not as crazy as all that.

1. the house is 20 by 60 - that means 1200 sq feet per floor - if it is indeed divided as a 3 family that would be around $700,000 per apartment. thats not far from most of the 1200 sq foot apts in the area, and if it were reduced a few hundred grand, it starts to make a lot more sense.

2. classen is developing extremely quickly, the derelict establishments like the bodega on clifton and classon are all gone, and numerous reputable and high end establishments are opening quickly.

3. no broker invented the term "clinton hill" - its an historic district - look it up. speak what you know.

If this place was anything close to 1,500,000 it would be a crazy steal.

Posted by: guest at March 18, 2008 2:11 PM

I agree with 2:11. . .it's overpriced by nearly 50%!

Posted by: guest at March 18, 2008 2:13 PM

thanks broker at 2:11!!!!

Posted by: guest at March 18, 2008 2:13 PM

"Numerous" reputable and high-end establishments. How many is "numerous"? Three? And what counts as high-end in your mind? $20 an entree?

Give me a break.

Posted by: guest at March 18, 2008 2:17 PM

Sort of like yesterday's HOTD (Prospect Place) -- a really cool home that appears to be significantly overpriced. Also, I'd like to know what "needs finishing" really means.

On the plus side, the porch and the parking probably add $150-200k to the price--either is extremely rare, and both is a real bonus. Also, is that a garage in front of the Range Rover?

Posted by: guest at March 18, 2008 2:22 PM

Here's what a person of no notable means whatsoever does with a piece of random good luck. After making few bucks on an odd-lot trade, they brag about it on a anonymous blog. More to the point: Buy this house now, or wait two-three years, and pick it up for 695k. Up to you.

Posted by: guest at March 18, 2008 2:24 PM

$20 an entree is high end in my book. Once it gets more expensive than that it just leaves a bad taste in my mouth.

Posted by: guest at March 18, 2008 2:26 PM

Too bad 2:10, the smart person, doesn't know the difference between "it's" and "its."

Posted by: guest at March 18, 2008 2:26 PM

"Sort of like yesterday's HOTD (Prospect Place) -- a really cool home that appears to be significantly overpriced. Also, I'd like to know what "needs finishing" really means."

Sort of, but not quite. You don't think the Park Slope home at only 400K more than this one sounds like a DEAL now?

That is one of the most prime neighborhoods in Brooklyn, a blue chip neighborhood and this is on the fringe of the ghetto for a tad less money.

Seems to me this puts it all in perspective.

Posted by: guest at March 18, 2008 2:27 PM

I bought 100,000 shares, 2:24.

I just made more in one day than you'll make in the next 10 years.

But keeping telling everyone the world is over.

Posted by: guest at March 18, 2008 2:28 PM

Classon has gotten better, but is still marginal. It is not the nice part of clinton hill, it is not fort greene.
This price isn't close. It might not sell even if reduced to 1.5.
You can't blame the owner for taking a shot at winning the lottery, but the overwhelming odds are this house will noit sell.

Posted by: guest at March 18, 2008 2:29 PM

But I like the ghetto.

Posted by: guest at March 18, 2008 2:29 PM

Yes, this is Clinton Hill.

And I must say that brooklynproperties is doing their clients an extreme disservice by allowing them to post this asking price. All of the houses on their site are way over priced.

I've actually been in this house and it's nice but not worth 2.2 million! I'm thinking more like $925.

A ClintonHillLday

Posted by: guest at March 18, 2008 2:30 PM

2:10

Don't break your arm patting yourself on the back.

Posted by: guest at March 18, 2008 2:30 PM

I bet you the Prospect Place house might sell for $2,165,000, but even that might be a bit high.

Posted by: guest at March 18, 2008 2:31 PM

I don't really like the house or the location.

Posted by: guest at March 18, 2008 2:32 PM

I don't really like Clinton Hill or Bed Stuy.

Posted by: guest at March 18, 2008 2:36 PM

hey bonehead at 2:13 PM

not a broker, not even close - but nice to know who it is that regularly writes that about any poster not bitching and moaning about how everything is so over-priced.

and for the record, this place is overpriced, but not as wildly as every one of the constant bitch & moaners say every house posted is. obviously a lot of bored renters.

i've been saying thats its all got to crash for years, but even if it does, it always goes back up. ALWAYS.

Posted by: guest at March 18, 2008 2:39 PM

Let's see...you're a daytrader (pathetic); probably a liar; and even if you made ten times what you claim, you haven't caught up with my '07. But you know best. Buy this house, it's a great deal, right?

Posted by: guest at March 18, 2008 2:39 PM

Really, 2:28, the Monday low (if you timed it exactly correctly) was $2.84, not $2 as you say (and most of the day it was around $4). So, you're a short term trader, and yet you're on Brownstoner during a trading day . . . yes, I believe you.

Posted by: guest at March 18, 2008 2:39 PM

And ps, in the next few minutes, give me a time on your trade; I'll check the ticker. Calling BS on your little fantasy.

Posted by: guest at March 18, 2008 2:40 PM

How do you know when the real estate market is actually going to crash?
When "The What" finally shuts up!
Oops. Has anybody seen a post from "The What" today?

Posted by: guest at March 18, 2008 2:55 PM

Looks like 2:40 put the kabosh on 2:28s 100,00 share fantasy with the help of a Bloomberg terminal.

Game, Set and Match to 2:30/2:40.

Well Played, Sir.

Posted by: guest at March 18, 2008 2:56 PM

BSC was never available at $2.00

So drop the C from your BS.

Posted by: guest at March 18, 2008 3:00 PM

i think the poster (whether true or not) made a very good example of how some people are still making a lot of money.

Posted by: guest at March 18, 2008 3:03 PM

And those people can't wait to spend it on slum dwelling.

BSC goes up two dollars, and you think we're out of the woods? Aiyeee, the naivete. Bernanke just cut 75 bps. Because good times are around the corner?

Posted by: guest at March 18, 2008 3:25 PM

Place might go in the high 900's. The area is definitely improving, but it is not worth that much at this time.

Posted by: guest at March 18, 2008 3:37 PM

Im no bench warmer! I wish this sucker goes for asking!! high comps is the bomb.

Posted by: guest at March 18, 2008 3:46 PM

Classon Avenue is NOT "developing quickly". Last Sunday I walked the length of Classon from Eastern Parkway to Lafayette Avenue and it looked as ghetto as ever. Decades of neglect have taken their toll and "high end" establishments were nowhere in sight.

Now, the part of Grand Avenue near Lafayette looks nice, but Classon? No way!

Posted by: guest at March 18, 2008 3:50 PM

if you bought at 10:24 yesterday, BSC was around $4.11. up 60% since then. so, you made $240k on your $400k and you get taxed for short-term gains ~30%. you netted about 170k. yes, you are right, i only make $17k a year and will never get a raise for 10 years. this person has been posting the same text in every category today. rubbish.

Posted by: guest at March 18, 2008 3:55 PM

stock market is up 420 points.

that's a lotta money being made while you suckers are sittin here wastin the day away.

Posted by: guest at March 18, 2008 4:30 PM

I now hate brokers. This listing actually makes me angry and I can honestly say that I am offended. I will never do business with Brooklyn Properties.

Posted by: guest at March 18, 2008 4:41 PM

These sideliners need to pull the splinters from thier ass and get on top of thier game. Get that money people.

Posted by: guest at March 18, 2008 4:42 PM

Sorry I am a broker. Boo hiss whatever. If the agent is stupid enough to list this for this price than maybe the seller is unconscientious enough to play with their feeble brooklyn properties agent mind to waiste their time too.

Posted by: guest at March 18, 2008 4:44 PM

What if the seller demanded the broker to list it for this price. Should the broker turn down the listing?

Posted by: guest at March 18, 2008 4:48 PM

"stock market is up 420 points."

It's still down nearly 2000 points from the 52 week high.

Whoop-dee.

Posted by: guest at March 18, 2008 4:51 PM

"How do you know when the real estate market is actually going to crash?
When "The What" finally shuts up!
Oops. Has anybody seen a post from "The What" today?"

Here I is LMMFAO ; ^ P}!

Well well The FED cut and the assmonkeys loved it! But one thing The FED is running out of bullets and the zombies are still coming. Wow gas will be 4.00 a gallon soon but, the assfucks use MTA.

You got to read the Times piece on the Assraping of Bear Sterns, this shit is funny!!! The Government help the BIG BOYS take down one of the oldest Investment Banks on Wall Street! You will pay for the bail out, ALL OF IT! Please read this story! I laugh so fucking hard I almost asphyxiated. Masters of the Universe huh??!! I think they need B&D ointment!!! Boo fucking Hoo.

Aftershocks of a Collapse, With a Bank at the Epicenter

http://www.nytimes.com/2008/03/18/business/18bear.html?_r=4&ref=business&oref=slogin&oref=slogin&oref=slogin&oref=slogin

For James E. Cayne, the firm’s chairman and former chief executive, holding on to his Bear stock was a point of pride, and he rarely, if ever, sold. A billionaire just over a year ago when Bear’s stock soared past $160, his 5.8 million shares are now worth about $28 million at Monday’s closing price of $4.81.

James E. Cayne said "Oh my asshole fucking hurts" after the announcement.

“Basically we’re all wondering first, if we’ll keep our jobs, second, if we’ll get severance if we don’t,” said an investment banker on a cigarette break outside Bear’s headquarters, declining to give his name. “And then we’re hoping that Lehman won’t go under because then there will be way too many bankers looking for jobs.”

You want fries with that? ROTFFLMMFAO!!! Hey assboy go get me a cup of coffee!

Yep, every thing is going to be O fucking K.

The What

Someday this war is gonna end...

Posted by: guest at March 18, 2008 4:53 PM

Who is going to suffer current jumbo rates to buy this shack? It boggles the mind. It hasn't been five years since that amount of money bought you a house in prime CH. Brokers have to understand, history is flowing against you; add to that the tide of animus you'll be swimming against when the bulk of your clients need to sell. I have resources, but won't even think about dealing with Brooklyn RE brokers until I --excuse me, you --smell blood in the water.

Posted by: guest at March 18, 2008 4:54 PM

BY THE WAY FOR THOSE THAT HAVE NOT HEARD, 'THE WHAT' IS A BROKER FROM LODI, NEW JERSEY, WHO HAS BEEN TROLLING BROWNSTONER FOR NEARLY A YEAR TRYING TO SCARE PEOPLE IN BROOKLYN TO MOVE TO THE SUBURBS.

THIS HAS BEEN CONFIRMED.

Posted by: guest at March 18, 2008 4:56 PM

Right, 4:56. Which is why he never does anything to actually attempt to lure people to the suburbs.

He's THAT subtle.

I think we can all agree that The What puts the "b" in "subtle."

Posted by: guest at March 18, 2008 5:04 PM

EVERYTHING THE WHAT HAS SAID IS A LIE.

HE IS NOT BLACK.

HE DOES NOT LIVE IN BROOKLYN.

HE DOES NOT OWN IN BROOKLYN.

HE WAS NOT RAISED IN BROOKLYN.

Posted by: guest at March 18, 2008 5:08 PM

ALL CAPS adds to your credibility.

Posted by: guest at March 18, 2008 5:12 PM

but this is brownstoner not stockowner.
Go thatta way------->

Posted by: guest at March 18, 2008 5:27 PM

5:12...didn't you just use caps?

5:12 = ultimate hypocrite

Posted by: guest at March 18, 2008 5:28 PM

5:28 - Missed the point, didn't ya?

Posted by: guest at March 18, 2008 5:31 PM

Me thinks the both of youz is the What.

Posted by: guest at March 18, 2008 5:38 PM

The tWhat is still a fucknuckle.

Posted by: guest at March 18, 2008 5:40 PM

LOL...you guys are the best!

As usually, we're off topic.

A ClintonHillLady

Posted by: guest at March 18, 2008 6:46 PM

The house is 22x60 with garage and driveway. Its huge. The price is high but given all the extras I don't think its that far off the mark. Its in Clinton Hill and Classon is changing. In reading the information on the website it appears that the house has been completely renovated from top to bottom. I wouldn't characterize it as priced right but I can't agree that its that dramatically overpriced. Remember what everyone said about the house on Clinton between Myrtle and Park that sold over 2M and also the beautiful house on Washington Park that sold over 3M.

Posted by: guest at March 18, 2008 7:06 PM

I love "The What"

Posted by: guest at March 18, 2008 7:45 PM

Yeah I don't think this is so far off. Could be, but you would need to know more about it to know for sure. Don't fret renters, if prices don't drop there is nothing wrong with renting and investing in something other than a house.

Posted by: guest at March 18, 2008 8:52 PM

The What could play The Duke of NY (A#1) in Escape From NY-Oh wait he gets shot in the end.

Posted by: guest at March 18, 2008 8:58 PM

I love The What, too. If he were a preacher, I'd go to the Church of What. I have a little crush on him.

Posted by: guest at March 18, 2008 9:02 PM

Brooklyn Properties sucks.

Posted by: guest at March 19, 2008 12:41 AM

there is no possible way in hell that this house will sell at that price

Posted by: guest at March 19, 2008 12:50 AM

Just curious...outside the historic district on Classon. How big can they build up?

Posted by: guest at March 19, 2008 10:25 AM

"Needs finishing" -- no kiddin'!

Am I the only one who looked at the interior photos and noticed all kinds of funky stuff? Unevenly painted, patchy walls in the front parlor; two apparently bricked up windows in the rear parlor; bare, unfinished green board (for god's sake) in the bathroom ceiling and wall; no ceiling cornices on the upper floors; beaten up old plank flooring, etc etc.

The place is a mess.

Posted by: guest at March 19, 2008 11:57 AM