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July 10, 2008

House of the Day: 28 2nd Place

28-2nd-Place-0708.jpg
This brownstone at 28 2nd Place in Carroll Gardens is a bit unusual. It's 34 feet (and four windows) wide, double the width of many houses. As a result, the three-story house is almost 5,000 square feet and has another 3,300 square feet of air rights. From the looks of the exterior, this'll need some work. The asking price of $3,900,000 suggests the seller thinks the likely buyer is a developer who will slap some ugly addition onto the roof. Hopefully, any such developer will remember the lesson of the Carroll Gardens atrocity on 3rd Place before heading down such a path.
28 2nd Place [Irongate] GMAP P*Shark
Photo by Kate Leonova for Property Shark




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Comments

Do you mean air rights or just additional FAR (build out)- and still would be limited to whatever height limit there exists for that street?

Posted by: guest at July 10, 2008 1:36 PM

The asking price of $3,900,000 suggests the seller is high.

Posted by: guest at July 10, 2008 1:43 PM

I live right down the street from this spot and walk by everyday. As usual for hood, way overpriced and will not sell for near asking. 24 2nd place (next door) sold last year for 2.5 mil, and is same exact size/condition. Not sure how a developer would recoup his/her expenses, given the renovation required, lengthy condo conversion process, etc.

Posted by: guest at July 10, 2008 1:47 PM

Did the sister house to the left of the subject house de-skin itself back to the brick? It has the same window lintels but a brick facade, not brownstone. Weird.

Plus, no pediment, white vinyl windows and no pictures = developer's special. Would a 17' house (likely in need of gut reno) sell for $1.95MM? Methinks not. So the x2 math isn't compelling unless your a developer.

This would be worth $3.9 million if it were in Carroll Gardens ...

Posted by: Mr Joist at July 10, 2008 1:55 PM

This could be a teardown. The lot size is very desirable and the block has no landmark protection. I hope there is some provision in the new zoning that mandates new buildings align with the adjacent front facades.


Posted by: sam at July 10, 2008 2:01 PM

I thought this block was part of the newly zoned area in carroll gardens? In any case, SUCH a crazy price as usual. I recently bought a house half this size for one million a block away and all the houses for sale in the area (that tend to be about 16 1/2 ft wide and need work) are selling for little more than a million. What in the world makes the seller and broker think they can get a million+ more for two of these properties? so CRAZY! and annoying.

Posted by: guest at July 10, 2008 2:35 PM

2:35 You bought a house for a million dollars a million dollars a block away from 2nd place, you must be on crack. If there are million dollar houses in CG please let me know i will buy 3 of them. Also if you folks are not aware of this the zoning limits that will pass thru the city council on july 24 will limit the height on these blocks to max of 55' so the only extension will be in the back. I think the house on the outside is pretty nice.

Posted by: guest at July 10, 2008 2:52 PM

2:01 why would they tear this house down? that would make no sense at all. They are putting in a new height limit and what would they put a cape cod style house. You make no sense. All you need to do is go into this home and develop it into condos or a beautiful 2 family. Do the people on this board understand real estate, or do you people come on this Blog because you are bored.

Posted by: guest at July 10, 2008 2:57 PM

That's not Carroll Gardens.
Where's the nativity scene?

Posted by: guest at July 10, 2008 2:57 PM

I'm not defending the price, but. . .
To those who say the price should be no more than twice what a brownstone half the width goes for.
That's probably not true.
The three or four supersized condos you could carve out of this place could probably be worth much more than twice what three or four shoebox-sized places you could get out of a 17 foot wide place.

Posted by: ontheparkway at July 10, 2008 3:03 PM

2:52 - there are so many houses for sale for less than 1.2 in the streets in CG btw hoyt and bond - actually the loveliest blocks treelined, pretty houses, no traffic plus they have parking! Lots of old old-timers live on these blocks and when they die (sorry to be so horrible) their staten isle/LI/NJ offspring sell them off. The houses are small, however, so in terms of price per square foot they are not particularly cheap. I had 3 on my block for sale although two of those appear to be sold, and the third has been done CG style - hideous brick facing and front gate etc etc so that everything would have to be torn out which is much more of a pain than just kind of starting from scratch. Invariably these houses are repped by small local agencies like irongate, awaye realty, brooklyn brownstone, etc. you just need to walk the streets. I would wait a couple of months and you can probably snap one up for 800k

Posted by: guest at July 10, 2008 3:23 PM

2:57 - not to worry, the brick building next door has the requisite painted concrete Jesus on full display.

Posted by: guest at July 10, 2008 3:28 PM

2:57 and 3:28, that's not funny. I'm not one to wear religion on my sleeve or display it in my front garden, but still. Don't be bigots.

Posted by: guest at July 10, 2008 3:34 PM

3:23 I hate to tell you but Hoyt and bond is not carroll Gardens the cutoff is Hoyt. If that is Carroll gardens i guess it's park slope to. You said you were a Block away from 2nd Place where this house is. I think not you are smoking the Pipe way to much. This house is near henry street and Is in Carroll Gardens you on the other hand are In Gowanas and you are near toxic Land. Do you see the Difference? If you can then good. if not go see a Eye specialist after you stop by the Real estate office to see why your Property is not as much as this one.

Posted by: guest at July 10, 2008 3:36 PM

3:34, lighten up. it's called humor.

Posted by: guest at July 10, 2008 3:43 PM

It looks to me as if this row of houses were all brick originally but the one in question was stuccoed at some point, probably when the cornice was removed. I hope it is restored by the new owner, but since it is not in an historic district there is nothing to stop a developer from tearing it down and building a new house or condo building. New construction is much easier to cost out and execute. Rehabbing an old building can be complicated and the costs are hard to pin down due to unforseen discoveries during the renovation.

Posted by: sam at July 10, 2008 3:46 PM

Sam i hate to tell you but if you don't know ill let you in on a secret all you need to do is throw up some sheetrock after updating electric and plumbing and you are done. Taking this down would cost much more. There is nobody taking this down after the new height limit on the 24th.

Posted by: guest at July 10, 2008 3:57 PM

Guest 3:57
Taking this down (assuming it is vacant) would cost next to nothing. Do you really believe the height limit protects these houses?
I disagree with you.

Posted by: sam at July 10, 2008 4:08 PM

3:23 you are a clown. You know nothing about RE

Posted by: guest at July 10, 2008 4:12 PM

3:36 - Hate to tell you. Those folks that have lived between Hoyt and Bond call it Carroll Gardens and have lived there before you were born and this Gowanus thing is product of your newbie imagination.

Posted by: guest at July 10, 2008 4:26 PM

Of course this is Carroll Gardens.
2nd Place is as Carroll Gardens as homemade ravioli.


Posted by: sam at July 10, 2008 4:34 PM

Does not matter what some Old guy thinks his Block is called it is whatever the Real Estate agents say. Or the City and they call Gowanas not BoCoCa. Sorry to tell you.

Posted by: guest at July 10, 2008 4:38 PM

I could be wrong, but it looks to me as though this was originally two houses combined into one. The neighboring houses all are 2 windows wide, so I think these are 2 houses made into one.

Posted by: guest at July 10, 2008 4:48 PM

4:38
what?
are you trying to convey a thought of some kind?

Posted by: guest at July 10, 2008 4:56 PM

Seriously 4:38, what's the matter? Of COURSE it's Carroll Gardens.

Posted by: I_haz_TWO_toilets at July 10, 2008 5:02 PM

I'm between Hoyt and Bond, and when I bought, every real estate agent I dealt with called this area Carroll Gardens. In fact, in 1995, there was no neighborhood called Gowanus.
I've never heard of a real estate agent who refers to the area between Hoyt and Bond as "Gowanus", why would they, it makes for a tougher sale.
The cities idea of the historic district of Carroll Gardens is very small, is that your definition of Carroll Gardens? Because according to the signs, that's only from Union to Second Street and from Smith to Hoyt.

Posted by: Bond at July 10, 2008 5:12 PM

All i am saying is it's not Carroll Gardens that's all if you bought back then then you should sell and Move to Florida because it's time if you know what i Mean. BTW the Area Of Hoyt to Bond is called Gowanas according to the Nyc Dpt of Buildings. Also when you bought back then it was all called south brooklyn there wasn't even a Cobble Hill. So grow up.

Posted by: guest at July 10, 2008 5:33 PM

3:23 - you clearly are unfamiliar with CG as well as so-called "Gowanus." You are right that I am not a block away - was thinking 2nd street not 2nd place, but I have lived in CG for 10 years and the blocks btw hoyt and bond are absolutely carroll gardens, no matter what the efforts of developers - or I don't know who - to try to glom them into this new gowanus designation. These blocks are two blocks from the carroll/president stop, they are consistent with the architectural style and the historical population of CG and everything and everyone on those blocks are, and always have been, oriented towards court/smith/carroll park, etc.

I don't even know why I'm responding to you, it is clear from your writing that you are practically illiterate.

Posted by: guest at July 10, 2008 6:19 PM

5:33, gotta disagree with you about Cobble Hill, while it is a relatively new "made up" name, it has been around for at least thirty years. As far as the NYC Department of buildings calling this area Gowanus, I can't find any record of that, but I'm a computer novice. Could you direct me to a site run by NYC that deliniates specific neighborhoods? I kind of hope that it is Gowanus, I collect Gowanus memorabila and have quite a fondness for the canal, so I'm quite happy here in "toxic land".
It's ironic that you're telling people to grow up right after making snide comments about age, smoking the pipe etc. (assuming that you are the same poster)
Maybe you should follow a little of your own advice?

Posted by: Bond at July 10, 2008 6:44 PM

That whole area (Carroll Gardens, Gowanus, Cobble Hill, whatever) used to be Red Hook, until the 1960s or so.

Posted by: guest at July 10, 2008 7:59 PM

I live between Hoyt & Bond, and I don't really care what it's called because I love it. It doesn't feel toxic even remotely, and we're right in the middle of Smith Street or 5th avenue amenities. Our walk to the subway is 2 minutes, unlike what it would be if we lived up by Henry Street.

For the poster who talked about the various houses for sale for under 1.2M, please let me know where they are! I see the one on Sackett, and I saw 2 a few months ago on 1st Place, but those were scooped up for close to asking price. That configuration is exactly what I've been looking for, and it's not that easy to find.

Posted by: seahag21 at July 10, 2008 8:42 PM

The better name for Gowanus is one that someone told me a few years ago:

Community Wedged between Caroll Gardens and Park Slope

a/k/a

CoW ChiPS

Let's see Corcoran sell that name.

Posted by: Knickerbocker at July 10, 2008 9:01 PM

I prefer the baby Jesus, so I painted that one next door.

I'm afraid to walk the streets of Bed Stuy.

Carroll Gardens extends to King Street.

Anything over $1 mil in any Brooklyn neighborhood is WAY overpriced!

(just looking to get through all the annoying bases for controversy, so we can move on and talk about the damned house for a change. There are freakin' broken records on this blog!!!)

Posted by: guest at July 10, 2008 9:01 PM

Here's hoping no developer tears the house down or turns it into an eyesore. There have been a few brownstones turned into condos in the neighborhood, but none have been torn down to do so. However, the wide property across the street, which had been a 1960's era house, was torn down to build the big glass condo on that block.

These extra wide houses rarely come on the market. If I was a hedge fund manager with a $10 million budget I'd buy it and turn it into an amazing one-family. This is a great block to live on. The problem is that these homes don't divide naturally into 2 families or 3, so there's no easy owners duplex or triplex with rental(s). Each floor can be an apartment, or I suppose you can duplex to the basement, which is mostly below ground in the front, but it's not ideal.

I wish the listing included a floor plan.

Posted by: guest at July 10, 2008 9:55 PM

Exactly 7:59. And before that it was all called South Brooklyn. Who gives a rats ass what some schmuck from Dayton thinks his new neighborhood is called. If he's as stupid to buy SOLELY based on NAME it's not the first time he's missed the boat on many, many things.

Posted by: guest at July 11, 2008 9:12 AM

Knickerbocker-
I like it! From now on, I officially live in CoW Chip.
As far as the original post, I'm not sure that if I had a four million dollar purchase budget, and very deep renovation pockets that this is the property that I'd be looking at. I love the neighborhood, but four and a half, five million dollars...........

Posted by: Bond at July 11, 2008 9:27 AM

How does a RE agency stay in business with this kind of website?

Or this kind of pricing? Are there really developers out there who would pay this much imagining they'll be able to make renovating and selling? Will they risk their own cash on this or are there banks stupid enough to go in with them?

Posted by: guest at July 11, 2008 9:36 AM

"Community Wedged between Caroll Gardens and Park Slope
a/k/a
CoW ChiPS"

That's clever and all, except there's no "Chi" in "Carroll Gardens"

Posted by: titsmcgee at August 28, 2008 12:59 PM

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