« Lancaster's Tenure at the DOB is History Streetlevel: What's Going On at June? »
April 22, 2008
House of the Day: 30 Orange Street
After 10 weeks on the market, the four-story brick house at 30 Orange Street in Brooklyn Heights just had its price reduced from $3,100,000 to $2,900,000. At first glance, this appears cheap for the neighborhood, until you realize that the house is only 30 feet deep. As a result, the square-foot count is only 2,400, putting the price-per-square-foot at about $1,200. We just posted a decent comp yesterday: The 2,344-square-foot brick house at 38 Cranberry recently closed for $2,700,000.
30 Orange Street [Brown Harris Stevens] GMAP P*Shark
Trackback Pings
TrackBack URL for this entry:
http://www.brownstoner.com/mte/mt-tb.cgi/4612
Comments
2.7 sounds about right to me for this place. i know it's small but, come on, it's the frigging Heights.
Posted by: guest at April 22, 2008 1:40 PM
I believe this quote from the listing also has something to do with the reason why it's so "cheap"
****
"A complete restoration is required, including plaster work, plumbing, electrical, and mechanicals."
Posted by: jerri blank at April 22, 2008 1:41 PM
"Among the specimen trees are a large-leafed curly maple"
"Curly" is a grain feature of the wood that cannot be seen until the lumber is milled. Not all maples of a species will have dramatic or even interesting character in the grain.
Posted by: Hal at April 22, 2008 2:11 PM
The frigging North Heights, in fact, and on a beautiful street. If one has access to a decent contractor/electrician, this could be worth it. Maybe not at $2.9, but I don't see it going for much less than $2.7 unless it's imploding (I mean the house in addition to the economy).
Posted by: Biff Champion at April 22, 2008 2:15 PM
The house is 30 feet deep and requires a complete restoration, BUT:
"Among the specimen trees are a large-leafed curly maple"
"Curly" is a grain feature of the wood that cannot be determined present until the lumber is milled. Not all maples of a species will have dramatic or even interesting character in the grain. Seems like a feeble attempt to add value where none exists.
Curly maple indeed.
Posted by: Hal at April 22, 2008 2:15 PM
Tiny house, tiny yard, great big price.
Posted by: guest at April 22, 2008 2:22 PM
Hal, I don't disagree with what your saying and as skeptical as I am with brokers, I'm wondering if they were literally describing the tree's branches. It seems odd anyone would care about the character of the grain unless they were going to chop it down and put the proceeds towards the mortgage.
I was kind of laughing at the virtual fine print footnote-like complete restoration reference. But at least they put it in there. Not sure Corcoran would have added it.
Posted by: Biff Champion at April 22, 2008 2:24 PM
20x50 lot. No yard at all and total reno required. Priced too high.
Posted by: guest at April 22, 2008 3:03 PM
Hey Brownie, How the fuck you doing?! I see the blog going down faster than Biff Champion at a bath house! You suck and this blog sucks.
Do you know why traffic is slowing? Because no one gives a fuck about Real Estate any more! People are trying to get by with high cost of food and gas! The is the consequence of a policy of wanton inflation and greed! Gas FUCKING 3.59 a gallon!! Guess what gas is food and plastic.
The people who read this site cannot afford the prices, why do you post that shit here? BTW The whole neighborhood is in foreclosure!!
Yep Brownstoner, I taking great pleasure of watching you go down!
The What (Fuck You)
Someday this war is gonna end...
Posted by: guest at April 22, 2008 3:32 PM
Hey The What. Gee, I missed your topical, intelligent and always hilarious posts. And your gay bashing never gets old.
Oddly though, I still own my place and it's not in foreclosure, I managed to keep my job and I can still afford to eat and drink. Anyway, I'm sure that will all change very soon as you're always prescient and right about everything. Thank you for reminding me it will all come crashing down very soon, though. Thanks also for always remembering to mention me. Your little obsessive crush on me is so cute.
I hope you're doing well.
Posted by: Biff Champion at April 22, 2008 3:54 PM
It is a very cute house for a small family. I think the size is just right but the price is XL.
It also sounds like you will not be able to move in for 6 months to a year while you renovate.
I think I can live without it.
Posted by: guest at April 22, 2008 4:23 PM
4:23, I agree the asking price still seems high and I think it will come down as well. Your point about not being able to move in is also well-taken given the nature of the work required.
But a single family home in that location on that block is prime. While it doesn't compare to the comps in the $2.9MM range in the area, I don't see it going for under $2.5MM.
Posted by: Biff Champion at April 22, 2008 4:38 PM
"A complete restoration is required, including plaster work, plumbing, electrical, and mechanicals."
That doesn't turn me off in itself.
The upside to a family owning a house for a very long time and not touching anything is you get more intact original detals. Also a house is usually in overall better shape when it's been owned for decades by one family than when it's passed through many owners and renters.
Posted by: guest at April 22, 2008 4:41 PM
OK, it could be a maple with curly branches or something.
I disagree with poster above who says people don't care about real estate anymore. There are a lot of people out there sitting on cash and watching the market carefully.
Furthermore, there are markets for every budget. I heard a piece on NPR this morning about Arts and Crafts bungalows in Detroit on the market for $10-30K.
Listen to this:
http://www.npr.org/templates/story/story.php?storyId=89831085
Posted by: Hal at April 22, 2008 4:56 PM
The What can no longer afford to drive from Jersey to Brooklyn. Thank god.
The house is way over priced. Try under $2.5
Posted by: guest at April 22, 2008 5:58 PM
If this house in Brooklyn Heights cannot command 2.7 million, kiss it good-bye in Fort Greene and Clinton Hill-Bed Stuy.
Posted by: guest at April 22, 2008 7:48 PM
Now that was one vitriolic, supersonic, hyperbolic post What. I especially like the new FU sign off, should help to balance your otherwise rosy disposition. What the hell have you been? Stuck in that Jersey traffic?
Posted by: Brooklynnative at April 22, 2008 8:30 PM
Yep Brownstoner, I taking great pleasure of watching you go down!
The What (Fuck You)
Someday this war is gonna end...
If anybody knows anything about going down it'd be you The What
Now its really only you adding all the shit and vitriol to the thread.
Truly, truly pathetic.
And in NJ to boot!!!
Posted by: daveinbedstuy at April 22, 2008 8:40 PM
The house is shallow on a small lot...but it's less to clean...and more cozy inside...lower cost, one hopes, to heat.
Yes, it is small though. How much are 4 bedroom condos going for in BH and Manhattan areas with a quick commute to "WS"?
It has a cute parlor floor and has curb appeal...and there are no kitchen or bedroom photos so what gives?
Oh, well. I'd swap it for our larger 4-story house in FG. We have a 1.2 person household with more to clean and more space to junk up and it would frankly be a relief to be in a smaller house. Too bad our house couldn't be swapped with this one price-wise.
BTW, anyone "sitting on the sidelines" want to buy our house for not too much...say 1.5m in prime FG, double duplex...needs finishing up of a reno. Anyone have a good idea what comps are for our kind of house right now? I'd love to move to the country full-time and keep a reasonably small Brooklyn 1-2 bedroom or even a Manhattan studio to come to when needed.
Posted by: guest at April 22, 2008 8:52 PM
And please Mr. de le What and any of his impersonators, please don't rip us to shreds b/c we think 1.5 is an okay price for prime FG.
Thank you!
:-)
...Maybe no one can get a mortgage right now? I wonder...
Is this true?...
Did too many people buy in at the height of the market so no buyers are left...? BUT, this would imply many people walked away with big profits and fists full of cash from all the sales the last couple of years.
Did most people who sold simply plough the profit back into a more expensive home? One would think there are those who didn't know what they wanted to do and may be currently renting...
And, let's face it, there's still A LOT of money out there circulating. The only reason some people even bother with a mortgage is for tax reasons. They can buy straight out. FG, thanks to Brownstoner and Co's efforts is getting cooler. Tons of people (non-FG people) I work with have been asking me about the Brooklyn Flea. NYC really doesn't have a decent flea market this big since the height of the Chelsea flea market.
Between the Flea, the greene market, the restaurants, BAM, etc., etc. FG is very appealing to a certain style of American and certainly lots of Europeans so the relative real estate values may not get hit so badly...they'll get hit...but relatively not so badly.
What say the What?...I shudder to think...
Posted by: guest at April 22, 2008 9:09 PM
I think the real estate market has tanked and no one is admitting it.
we are in a weird, Edith Wharton novel where everyone knows but no one wants to be the first to say it.
the shit has hit the fan.
there is no money any more except in europe and in china.
the dollar is being kept alive by inertia.
good night sweet prince.
Posted by: guest at April 22, 2008 9:16 PM
There are very few 4-bedroom coops or condos in Brooklyn Heights and they are priced similarly to this house, or more.
Posted by: guest at April 22, 2008 10:53 PM
a four bedroom 2 and a half bath coop is worth way more than a little house with no yard, asshole.
what is the median age on this blog?
12?
rich people really like coops. they are secure and they provide services.
they are very nice, cushy places to live.
every working person in America can own a little decrepit, hundred-year-old house.
But try getting in to a top-notch co-op in Brooklyn Heights
Posted by: guest at April 22, 2008 11:16 PM
The What really spewed on this thread...I'm not sure he is correct saying that the wealthy prefer coops and that every American can get a decrepit 100 year old house.
HHH...he is really exasperating.
Posted by: guest at April 23, 2008 12:09 PM
Post a comment
Please be patient while your comment is published. It may take a moment.