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June 24, 2008
House of the Day: 467 45th Street
What price Sunset Park? This three-story, two-family limestone house at 467 45th Street has lots of original detail and is priced comfortably under the million-dollar market at $899,000. Then again, the house traded for only $605,000 back in 2004 and the place two houses over sold for $640,000 in 2005. So are there any Sunset Parkers out there who can comment on this asking price?
467 45th Street [Corcoran] GMAP P*Shark
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Comments
$605,000.01 sounds about right.
Posted by: guest at June 24, 2008 1:37 PM
Nice house, subway on the corner, cheap eats, fun walking on Fifth ave.
This house would have been in the high 200's 8 years ago, get in when you can.
Posted by: LM at June 24, 2008 1:47 PM
SP is still an undervalued neighborhood - amazing that it's not blowing up sooner.
Posted by: guest at June 24, 2008 1:49 PM
We looked seriously at this house when the asking price was $979K (obviously way too high).
The three floors did not divide comfortably into an owner duplex and a separate floor for a tenant, which led us to look elsewhere. Also, the top floor was going to require considerable attention.
Nevertheless, when the price comes down, someone is going to have a lovely home.
Posted by: guest at June 24, 2008 1:50 PM
Or wait a little while until this place dips back below the 600k mark.
Posted by: guest at June 24, 2008 1:50 PM
Or wait 10 years, when it's 1.5 million.
Posted by: guest at June 24, 2008 1:54 PM
"Or wait 10 years, when it's 1.5 million."
...and the average salary is in the six figures. Big drop in real terms.
Posted by: guest at June 24, 2008 2:00 PM
"What price Sunset Park?"
Great copyediting.
What the hell does that mean.
Posted by: guest at June 24, 2008 2:04 PM
This place will easily sell for high 800s.
Although a bit overpriced, 462 45th Street just went to market at $1,075,000
This block is okay for Sunset Park. There are a few better but most are worse. It's convenient becuase it's close to the R train, but also gets quite a bit of traffic in the mornings.
Posted by: BrianR at June 24, 2008 2:15 PM
depressing
Posted by: guest at June 24, 2008 2:24 PM
is this house near Park Slope?
Posted by: guest at June 24, 2008 2:24 PM
Using what price [subject] is common.
Posted by: guest at June 24, 2008 2:29 PM
Enjoy the company of day laborers by the park all day long.
Posted by: guest at June 24, 2008 2:30 PM
750K is a maybe. No way will this go for 899.
Posted by: guest at June 24, 2008 2:31 PM
There was another Corcoran on 33rd St. Probably half the size of this one, three doors down from a 24-hour convenience store/gas station. That one was way overpriced at $675K and I assume this one is, too.
Posted by: guest at June 24, 2008 2:50 PM
Isn't this a three-family? Three kitchens and three living rooms? The realtor can't spell wainscot either.
Posted by: guest at June 24, 2008 3:01 PM
Its cool that you guys have been showcasing more sunset park listings, however this one is not the greatest. I went to an open house back when it was listing for just under a million and was underwhelmed. The layout felt cramped and weird, the yard was a dump; There is definitely a lot of woodwork, but it didn't look at all "original" to me. (These houses were built in late 1890s and early 1900's.)
I totally dispute the naysayers regarding the block. This is a full block of three story brownstones and limestones with fifty plus year old trees that is indistuingishable from any brownstone/ limestone block in Park Slope from 4th street to 8th street between 5th and 7th aves.
There is still great housing stock in Sunset for under a million (barely) and the Finnish co-ops are still a great deal: 2 bedroom pre war coops for $250,000 with maintenance under $300
Posted by: Sunset Parker at June 24, 2008 3:10 PM
Google Maps can't spell "Gowanis" (sic) correctly.
Posted by: guest at June 24, 2008 3:13 PM
Nice houses in Sunset Park like this one are frequently listing for $900K to over $1M, and I have heard that a few have sold for close to that. Median and average sales of 2-family houses in the neighborhood in 2007 was $700K, though. This house is well above average for the neighborhood, but the sellers would have to be real lucky to get an offer close to that asking price.
Posted by: guest at June 24, 2008 3:20 PM
The highest point in Brooklyn? 4th Ave? I thought the highest point was in Greenwood Cemetery, and 4th Ave was in the flood zone.
Posted by: denton at June 24, 2008 3:37 PM
Same block, slightly smaller but better condition.
443 45th Street $1,050,000, closed 6/2/2008
Posted by: BrianR at June 24, 2008 3:41 PM
Fretwork gives me the willies. Especially true in this case.
Posted by: guest at June 24, 2008 4:21 PM
"443 45th Street $1,050,000, closed 6/2/2008"
419 days on market
Posted by: guest at June 24, 2008 4:29 PM
Crack anyone.
Posted by: guest at June 24, 2008 4:57 PM
This place should definately get that price. There is one thing to consider that nobody has mentioned as to the unique market this neighborhood has regarding the growing Chinese population. Houses all throughout Sunset are being bought, gutted and turned into SRO's which in turn are rented to the massive number of Chinese. The floors are literally divided into boxed rooms which hold beds and tenants pay weekly, in cash. All unreported income, destroying brownstones and catering to (perhaps creating) an overpopulation issue. I heard one tenant quoting $200 a week per room and 10 rooms per floor. Figure out that number and you see why houses sell like hotcakes in this neighborhood.
Posted by: guest at June 24, 2008 5:41 PM
Sunset Park is probably taking longer to come up because 5th Ave, its major shopping area, is a complete dump. Unless you speak Spanish, you will find no joy in living over there.
Posted by: guest at June 24, 2008 5:41 PM
or Chinese...
Posted by: guest at June 24, 2008 5:44 PM
Chow Mein anyone.
Posted by: guest at June 24, 2008 6:07 PM
Much of what is already posted is true. I've been a Sunset Park home owner for 10 years and I'm just starting to see changes for the better because all the neighborhoods around us as much more expensive!
Posted by: Rick at June 24, 2008 6:10 PM
Aren't the Chinese over closer to 8th Avenue, not here?
Posted by: guest at June 24, 2008 7:39 PM
5:41 if you are so racist perhaps NY with its diversity is not the best place for you to live. Perhaps your old digs in Altoona out house and all can welcome you back.
Posted by: guest at June 24, 2008 7:40 PM
http://photos1.blogger.com/blogger/896/3536/1600/card179.jpg
Posted by: guest at June 24, 2008 9:51 PM
we looked at this place. it was a crud hole. we literally couldn't wait to leave. the price was a bit higher. i think about 999k. i'd rather live in a pre-war walk up in park slope than trek out here every day anway.
-obsessed with brooklyn real estate
Posted by: guest at June 24, 2008 9:54 PM
I haven't seen any evidence that 5:41 is telling the truth. Most of the homes are occupied by multi-generational families.
Posted by: guest at June 24, 2008 9:58 PM
gotta love the racism of this site. bashing chinese and day laborers - i.e. hispanics who stand quietly on a sidewalk waiting for work. i prefer them to the punk kids of park slope (i live/own in p.s.) who crowd the sidewalk at night with attitudes blocking your way and talking smack. as soon as you reciprocate with a hard look they get scared away...im hoping for a reason to pummel one one day for fun to teach the rest a lesson.
Posted by: guest at June 24, 2008 10:37 PM
BUt if Sunset PArk gets expensive, I will never be able to buy a basement apartment.
- bxgrl
Posted by: guest at June 24, 2008 10:44 PM
5:41 I live in the chinatown sunset park. Many chinese families buy and own here. They aren't recreating coolie tenements. If they were I could split my apartment up and quit my day job. They are the same as everyone else. They just happen to be Chinese and want to buy a home in their nabe.
Posted by: guest at June 24, 2008 11:35 PM
These homes were going for 350k just 5 years ago. That said, this doesn't feel like a 900k home, not cut into 3 apartments. If you really wanted a duplex for yourself, you're looking at another 100-150k in renovations. I suspect it will languish at this price; 10% less feels like it's in the ballpark.
I have nothing against SP; except that I wish Green-Wood was a park instead of a cemetery. There are some truly great homes, and for me, the limestones are a little less intimidating than CH or Bed-Stuy brownstones.
Posted by: guest at June 25, 2008 1:20 AM
Asians make up about zero percent of NYC crime suspects. Best neighbors you could have.
Posted by: guest at June 25, 2008 8:41 AM
Always had great blocks and houses with some exceptions, but it will take YEARS for that place to get to really good neighborhood.
Posted by: guest at June 25, 2008 9:44 AM
Greewood stays put - tons of History. I'm sure many of you would want it to be a park instead. If you look at it it is in a way. Thousnads used to vist weekly in the late 19th Century. Thank god you folks cant't touch it but you should appreciate it for waht it is an open air museum.
Posted by: guest at June 25, 2008 10:30 AM
Its also a wildlife haven
Posted by: guest at June 25, 2008 11:21 AM
Racoon Ciy!
Posted by: guest at June 25, 2008 11:38 AM
si
Posted by: guest at June 25, 2008 11:45 AM
So not true 8:41. Asian gangs are some of the most violent that we have come across. They prey on their own community though which is why you don't here much about it. Their Chinese victims do not under any circumstances like to report the criminal activity to the police. As the NYPD recruited more Asian officers who can come back with intel, much of this activity is only now just coming to the surface. Queens, Chinatown and this section of Brooklyn have the worst problems. The only criminal activity that spills out into the rest of the community right now is child prostitution and "massage" parlors.
Posted by: guest at June 25, 2008 12:24 PM
Oh really? how about at least once a week reading about a shooting or stabbing along 5th, ave from 36st to about 59th, st?
wake up!
Posted by: guest at June 25, 2008 12:46 PM
NYPD records showed reported suspects for 2006 was about 11% white and 4% asian.
Posted by: guest at June 25, 2008 1:05 PM
5th, ave from 36st to about 59th is a hispanic nabe.
Aren't people always mugged and stabbed as well in park slope's dean street and closer to flatbush ave. Wait not in PS, no way!
Posted by: guest at June 25, 2008 10:10 PM
Actually, I meant from 38th to 59th. 37th down is pretty quiet and safe- Greenwood Heights- it's no wonder they don't want to be associated with SP.
Posted by: guest at June 26, 2008 12:48 AM
I live on 37th and it's mostly young, white families. The area is becoming so much nicer now.
Posted by: guest at June 26, 2008 4:12 PM
Chinese won't go there unless it's in $700's. This house will sell in low $800's.
Posted by: guest at June 27, 2008 10:47 AM
Our family left Sunset Park about 5 years ago. Our Brownstone sold for just under 500,000. Four generations lived in that house and it was a very sad day when we left.
While the house was beautiful, the neighborhood had completely deteriorated. Our home was burglarized three times, a family member was mugged and mexicans were moving in at an alarming rate. Greedy homeowners were renting out their apartments and unfinished basements to families of 10. Streets were filthy and littered with crack vials and parking was unreal. The final straw was when PTA school meetings were conducted in Spanish first,then interpeted in ENGLISH. If you love Brownstones as I do, they're worth every penny. But due to the area it's in, this one shouldn't go for more than 600,000.
Posted by: caropa at October 22, 2008 2:55 AM
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