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April 3, 2008
House of the Day: 52 Fort Greene Place
Someone didn't get the memo that pie-in-the-sky asking prices have no place in today's market. At least we know where to send it: 52 Fort Greene Place. If this four-story house were on a better block or was more compelling in terms of its historical authenticity, then the asking price of $2,250,000 would make more sense. But this is one of the less attractive blocks in the area (nice try cropping that facade photo!) and this house, while not devoid of original details, doesn't pack a strong enough punch to justify this price in this market. Sorry, ain't gonna happen.
52 Fort Greene Place [Corcoran] GMAP P*Shark
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Comments
Maybe one could buy the building next door and demo it?
Still though, $450 per square foot of developable area is not going to happen. Is there talk of pushing the C6-4 zoning district 2 blocks east? It would seem that in time?
This will be a prime candidate for a spot rezoning in the next 10 years, guaranteed.
With that abandoned building next door, redevelopment seems like the ideal course of action no matter what though.
Posted by: Polemicist at April 3, 2008 1:37 PM
The place on the right is a fire trap with that Fire Dept warning on it but those places on the left are the most tasteful fedders buildings i've ever seen
Posted by: daveinbedstuy at April 3, 2008 1:39 PM
Hey Brownstoner, you claimed traffic was up at this site. I don't see any proof. I know maybe you was using the Text Spammer posts to your click-count. That fraud Brownstoner and this Blog may get revoked over that. And now this topic you hating on someone else house! You have more nerve that a toothache. Bye Fonzi : ^ P-->
The What ( Jump----^-----Ed)
Someday this war is gonna end...
Posted by: guest at April 3, 2008 1:40 PM
another overpriced listing by Corcoran. This will languish on the market for months and then undergo several price cuts.
Posted by: guest at April 3, 2008 1:43 PM
This is so funny I use to live on So. Eliot pl on the next block and I was paying $600 a month for rent back in 1999. My landlord payed $7,000 for his brownstone back in 1971 and sold it for 2 million in 2006 after her put in 30 years worth of renovations.
Posted by: guest at April 3, 2008 1:44 PM
Brownstoner -- Your obsession with "original detail" is amusing. Personally, Im a big fan of brownstone living, but not for its historic value. In any event, I think you are wrong about the pricing here. While the price is high, its not that high, and certainly not "sky high." This place is 65 feet deep, which makes it huge in comparison to most houses in the area, and at 4600 sf, its under 500 a foot. While the block is not the best, its not that bad either, as it is extremely close to the subway, the gym, the liquor store, restuarants on Fulton street, etc, and it will only imrpove. I agree there will be a price reduction, but I bet it sells for close to $2 mil.
Posted by: guest at April 3, 2008 1:56 PM
Don't know the block offhand, but it's damn close to Atlantic. Must be real easy to rent those apartments.
Posted by: Brooklynnative at April 3, 2008 1:56 PM
Nothing like the dreaded square with full X logo on the building next to you to add to your properties value.
Posted by: guest at April 3, 2008 2:06 PM
If only the rent roll would come close to covering the mortgage. Ay, there's the rub!
Posted by: guest at April 3, 2008 2:06 PM
Glad that's it's close to the liquor store ... that should help the price.
Posted by: guest at April 3, 2008 2:07 PM
Yeah, I'd only buy it if I could also buy the building next door - so I could reno it so this one wouldn't be next to that empty one. It's not gonna sell 'til the other one does.
Posted by: guest at April 3, 2008 2:21 PM
Based on rent roll and recent market weakness, this place will sell for 1.4M tops.
Posted by: guest at April 3, 2008 2:33 PM
thats section 8 housing next door
Posted by: guest at April 3, 2008 2:33 PM
Fort greene is full of section 8 housing right next to million dollar houses.
Posted by: guest at April 3, 2008 2:48 PM
Can I do my re-ups from the abandonned house next door?
Posted by: guest at April 3, 2008 2:49 PM
Based on the, er, detail of the brick buildings next door -- there are several -- I think they were built in the 70s, maybe early 80s? They are pretty contextual, albeit on the cheap. Still, people are snobbish about living next to Section 8 housing... I agree with Mr. B. No way, no how for that price.
Posted by: guest at April 3, 2008 3:03 PM
On a separate topic, do you think the What drinks? There's such a wild variation in tone and grammar to his postings, which suggests a little tipple here and there to me.
Posted by: guest at April 3, 2008 3:05 PM
What: You complain about this site but you are always posting here. Go get a job.
Posted by: guest at April 3, 2008 3:13 PM
Look at those floor plans. How much would they go for as condos?
I don't think so overpriced for asking.
This less than prime block area of Ft. Greene will become even more valuable as more affluent condo owners, shoppers, services flood the area.
Posted by: guest at April 3, 2008 3:40 PM
Why are they selling?
Posted by: guest at April 3, 2008 3:58 PM
"This less than prime block area of Ft. Greene will become even more valuable as more affluent condo owners, shoppers, services flood the area."
You lost me on this one. If more services come to the area, then the prime blocks will become more sought no?
Posted by: guest at April 3, 2008 4:03 PM
This is not a BAD block. It's a three minute walk to the Connecticut muffin shout out above. It's also not overpriced. 65 Feet Deep is incredible. There is condo potential or very deep rentals with a nice owner duplex. Who can beat that? Honestly, this is not a bad deal and I have no affiliation with the neighborhood (I live in South Slope) or the realtor. You won't see this on the market for long. It might go for $1.850,000-1.900,000 but that's not a huge difference from 2 Million. The only bad thing about this listing is the neighbor. But, it won't stop a sale.
Posted by: guest at April 3, 2008 4:04 PM
sold to 4:04pm. lets move on now
Posted by: guest at April 3, 2008 4:20 PM
65 feet deep would be amazing. too bad it isn't
Posted by: guest at April 3, 2008 4:24 PM
4.04 - 300 to 400K less than asking is a significant difference. It is still expensive, no doubt, but is overpriced for the block and condition of the interior from the pics.
Posted by: guest at April 3, 2008 4:32 PM
65 deep is problematic. If the adjoining buildings are the same length, you end up with two rooms with no windows. Lots of rooms, but only 1 real bedroom unless you move the kitchen from the back where they were always put, into one of the interior windowless rooms.
Posted by: Brooklynnative at April 3, 2008 4:48 PM
not sure how the brokers get 4,660 sf. based on the floorplan it looks like around 4,000, given that the top floor only looks around 35 feet deep and the rear extension is only around half the width of the house. that raises the price/sf to over $550
Posted by: z at April 3, 2008 4:48 PM
As far as what I meant by less than prime...
This block ain't the best of Ft. Greene - but as the general area gets all the new condos nearby and becomes more 'upscale' anything in area will become more wanted. There will be pressure on this block to become nicer (as the building next door being redeveloped) so this block has upside potential.
Posted by: guest at April 3, 2008 5:10 PM
What's up with the roof line being a story higher than the top row of windows? Never seen that before.
Posted by: guest at April 3, 2008 5:14 PM
Can I re-up in the house next door?
Posted by: guest at April 3, 2008 5:19 PM
They may have spent a decent amount on the renovation, but did not make the right choices--those pictures have McMansion design written all over them. And that's a kitchen for a $450k apt, not a $2.2m house.
Posted by: guest at April 3, 2008 5:29 PM
5:14: The top of the facade is fake; there's nothing at all behind it.
This house is much deeper than the ones to either side of it. There's an L-shaped rear addition on the lower three floors.
Posted by: zinka at April 3, 2008 7:35 PM
Guys I don't know I've been to few open houses
in Park Slope recently and rurns out I was the ONLY one who made an offer.
These houses were good houses but not even one offer was presented except mine.
Owners seems delutionals and buyers don't want
anything to do with this market.
Posted by: guest at April 4, 2008 12:11 AM
I lived at 69 Fort Greene Place for a year, and know this block extremely well. There are mini "projects," on one side of the block, semi-abandoned buildings, and a noisy High School. This will NEVER be a prime block--it's next to an ugly, uninhabited part of De Kalb, and also to the noisy intersection of Fulton and Lafayette. Yes, it's close to Atlantic, but so is Target. The projects are unbelievably noisy, and this block has virtually no trees (lying brokers strike again). I love Fort Greene, but despite the "Fort Greene Place" moniker, this place isn't really in it. It's on the outskirts, just like St. Felix, and these are very nasty outskirts. There are far nicer blocks in Clinton Hill. Quality of life on this block is extremely low. Noise, criminal elements, extremely dirty, lots of rats (btw, FG in general, like Dumbo, has lots of rats).
Other FG blocks are far quieter, actually have trees, and are not full of projects and abandoned buildings. Abandoned buildings can be "fixed," possibly--projects cannot.
Posted by: guest at April 4, 2008 7:49 AM
Yes 7:49 projects cannot be fixed. It's a shame isnt it that you have these poor people living near you. Fart head.
Posted by: guest at April 4, 2008 8:33 AM
I'm not a farthead, or a classist--I was just speaking the ayn rand talk of Brownstoner Brooklyn realities. I wish that this highly segregated (the most segregated city in the US) would get its s-t together, etc. etc. In the meantime, having lived on that block, I don't like living next door to the projects. I agree with Obama--African Americans have, to some extent, created a culture of poverty and low expectations--yes--the neo cons say this--and so does Cornel West, actually. I'm African-American, come from a long line of strivers, and I know of what I speak. Meanwhile, I literally put my own ass on the line, daily, for the kids of today's strivers--mostly immigrants--
So, no, I'm not a farthead. But I don't want to live next door to the projects, either. Thanks. What do you spend twelve hours a day doing? And did your ancestors build this country for free? If the answer to those questions is finance and no, then take a hike.
Posted by: guest at April 4, 2008 3:07 PM
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