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September 24, 2008

House of the Day: 169 Clinton Street

This five-story brick townhouse at 169 Clinton Street in Brooklyn Heights is a real beauty. The living areas have retained their historic charm and the modernized kitchen and bathrooms appear to fit in tastefully with the original vibe of the house. The 25-foot-wide house, which also comes with two parking spaces in the rear, looks like a very attractive deal to us at $3,200,000. At the very least, it puts Tuesday's House of the Day to shame. Even in this market, we think this will move. Do you?
169 Clinton Street [Corcoran] GMAP P*Shark

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this is priced well, and yes, it does highlight further the ridiculousness of yesterday's hotd asking price.

Posted by: z at September 24, 2008 1:23 PM

Corner House, Nice remodel, PARKING SPACES, Brooklyn Heights, 1 million less then the Carroll Gardens place.

This just crushed that Carroll Gardens house.

Posted by: Adam Dahill at September 24, 2008 1:27 PM

actually, wait a sec -- top floor rent is $1544? sounds like this place may have a wart after all.

Posted by: z at September 24, 2008 1:30 PM

Once again, I ask: Brownstoner, do you even read the listings before you post an item? This is chopped up into 5 floor-throughs which are currently leased out, we have no pictures of the leased floors and no floorplan. For what it is, it's still priced at the top of the market, given what a renovation would cost to bring it back to a single/2-family, or what the rent roll would bring. It's not an apple-to-apple comparison with the Tuesday HOTD (although agreed that was overpriced).

Posted by: NorthHeights at September 24, 2008 1:31 PM

Just goes to show you what the discount is for 4+ family buildings--being that financing is apparently much harder to attain.

Anyone know what the taxes are?

Posted by: manofelt at September 24, 2008 1:33 PM

5-family?
woof!
This property has a ways to go be a real home again.
As an investment property it may be fine, but it all depends on the rent roll and the age of the rent-regulated tenants. The only way they will leave the house is feet-first.

Posted by: sam at September 24, 2008 1:37 PM

bayridgegirl: Can you please opine on the appliances.

Posted by: 11233 at September 24, 2008 1:45 PM

A very casual perusal of Times online real estate listings for Brooklyn has 56 pages of townhouses for sale under $1 million, and 18 pages for sale under $2 million. Must most of the "Houses of the Day" and virtually all of the "Open House Picks" be listings over a million dollars?

Posted by: Iris at September 24, 2008 1:45 PM

Iris,
Only a small percentage of those (a) provide an address; (b) meet minimum (admittedly totally subjective) aesthetic standards and (c) are in "Brownstone Brooklyn". But point taken.

Posted by: brownstoner at September 24, 2008 1:51 PM

'bayridgegirl: Can you please opine on the appliances.'

11233 - Hard to tell by the angle. Maybe a Wolf Range??

There are 4 other kitchens in this house, let me at them.

Posted by: bayridgegirl at September 24, 2008 1:52 PM

Thanks, BRG. I am only half joking. I am planning to redo my kitchen and it is interesting to read what someone who is looking for a home is looking for in a kitchen. Ultimately, I will make the decision that fits my budget and taste but I always have an ear out to hear what others are thinking. Thanks.

Posted by: 11233 at September 24, 2008 2:09 PM

I wonder what the discount is for the fact this house is haunted? No joke: http://www.nypost.com/seven/08142008/realestate/ghost_story_124321.htm?page=0

H.P. Lovecraft rented an apartment at 169 Clinton in 1927. He complained that there was "Something unwholesome -- something furtive -- something vast lying subterrenely in obnoxious slumber -- that was the soul of 169 Clinton St. at the edge of Red Hook, and in my great northwest room 'The Horror at Red Hook' was written."

So this will either get a premium for being part of Brooklyn literary history, or Scooby Doo will have to be called in on the case.

Posted by: Frederick Law Homestead at September 24, 2008 2:18 PM

Hilarious that the Corcoran listing says that Brooklyn Heights was featured in "Burn After Reading". That movie was set in DC, not Brooklyn. I guess if you've seen one rowhouse neighborhood, you've seen them all?

Posted by: zinka at September 24, 2008 2:20 PM

zinka, it's actually true. Burn After Reading was filmed in Brooklyn Heights as a standin for Georgetown in DC. You can see Clooney and company in this link:

http://brooklynheightsblog.com/index.php?s=burn+after+reading

Posted by: Biff Champion at September 24, 2008 2:23 PM

11233 - I'm joking also.

You don't want to know what kind of appliances I have in my kitchen right now..or when I do buy a house what I would put in...let's just say, I can't afford much. There's nothing wrong with GE appliances, they're actually quite good.

What I gripe about is people who have the money and are doing a full renovation, then cheap out...and then expect to get top dollar for the house....aka tuesday's HOTD.

When doing a high end renovation, the lowest standard is sub-zero, wolf, viking, fisher-paykel, etc. These may not be the best products out there, but anything less would be a mistake...especially when you're looking to add value to a place to sell.

If you need a list of Bayridgegirl approved appliances, email me :)

Posted by: bayridgegirl at September 24, 2008 2:27 PM

If I could ever afford $3,200,000. for a place to live I surely would want a kitchen that I could turn around in let alone maybe sit down to drink my tea.

Posted by: BklynPEZ at September 24, 2008 2:29 PM

I say it goes for within 5% of ask...premium or discount.

Posted by: daveinbedstuy at September 24, 2008 2:39 PM

We agree Mr. B this will move and is definitely a steal compared to yesterdays HOTD with its delusional pricing. The location is excellent, beautiful facade, and the garages are priceless. We even think it may be more attractive to the right buyer for the huge rental income if the top 2 floors are not rent regulated. The price relatively speaking is quite reasonable (minus $200k) IMHO.
BRG what do you think about the pictured kitchen? Looks very good to us.

Posted by: pierre de taille at September 24, 2008 2:43 PM

Proceed with caution, bayridgegirl. Sub-Zero/Wolf and Viking ranges, fridges, etc., consistently have the highest rate of repair over the first year of ownership. Sears Kenmore Pro, GE Monogram, and Jenn-Air are rated much higher than the aforementioned appliances, look great, and are less expensive.

Posted by: Fjorder at September 24, 2008 2:43 PM

I bet the Dyker heights place has a barbecue pit and a pizza oven.

Posted by: daveinbedstuy at September 24, 2008 2:48 PM

an outdoor, wood-fired pizza oven is boss.

Posted by: Fjorder at September 24, 2008 2:54 PM

It's not just a name when it comes to high end appliances. Some of the big names have terrible ratings when it comes to energy efficiency and reliability (Viking and Subzero).

I did a lot of research and I actually settled on the GE Monogram products mainly because they offer most of the same features that the very high end appliances do with great reliability records, very energy efficient and about half the price.

Also, I figure I'll be in my home for at least 10-15 years. At that point when I go to sell there will probably be some new hot "high end" models and we will want to switch our out for them before putting the house on the market. Who wants a 10-15 years old appliance when buying a home? Only someone looking to cut the asking price down, which is exactly what we did based upon the old appliances the seller had in this place.

Posted by: TownhouseLady at September 24, 2008 2:55 PM

Thanks, fjorder and bayridgegirl. I thought I had heard the same about Viking and Sub-Zero, fjorder.

BRG: I will gladly share my heinous kitchen pictures with you if I can find them. This kitchen was so bloody ugly and useless, I tore it out. I still have one on the parlor floor, but that will be gone the second the other kitchen gets redone.

Sorry for changing the subject here.

Posted by: 11233 at September 24, 2008 3:03 PM

The only thing I would be afraid of w/ GE is they have that division up for sale. Who knows what service will be like in the future.

On topic, I bet they could get $400 ea for those parking spots also

Posted by: denton at September 24, 2008 3:16 PM

Fioder, some people have major problems with the appliances I listed, others have had none.

That's why I said 'These may not be the best products out there'. And I also left the list open ended by putting an 'etc.' It's a standard I'm referring to. The brands you listed have a professional series that are comprable to the ones I listed.

In a 4 million dollar recently renovated house, you don't put in GE Profile.

So sorry, I excluded any brands for appliances - as I am not an appliance salesman.
But hope this helps.
Thermador, Dacor, DCS, KitchenAid, Amana, Frigidaire, Five-Star, Capitol, Bertazoni, Viking, Delongi, GE, Jenn-Air, Bosch, LG, Miele, Leibher, Electrolux, Whirlpool, ETC. ETC. ETC. (cause I know I'm excluding alot)

Posted by: bayridgegirl at September 24, 2008 3:18 PM

Thanks for the info about the movie, Biff. I had no idea.

Posted by: zinka at September 24, 2008 3:26 PM

Roger that, bayridgegirl.

If one were flipping a property, the best bet for resale would be the top-shelf ones you listed. I reckon it's akin to buying a Range Rover: It's a gorgeous status symbol with a dreadful repair record (that not every owner, but many, have had trouble with).

Posted by: Fjorder at September 24, 2008 3:26 PM

Appliances are very personal, esp. if you're a cook. I know someone, who researched appliances for months, before deciding.

11233..do share your photos...we can pretend they're from a kitchen in Dyker Heights and trash them.

Back to HOTD....wonder why they have a picture of George Washington in their dining room?

Posted by: bayridgegirl at September 24, 2008 3:29 PM

Need for sub-zero + vikinng appliances etc. should go right our the door with the need for hummers.

Posted by: Boerum Hill at September 24, 2008 3:48 PM

BRG we really like that GW picture and its placement as well. Heck we will even pay good $ for a well framed portrait like that. Ok we admit we are collectors of old portraits and our best so far is Chairman Mao Zedong:)
Anyways back to the house would it be legal to place a deck above those garages? Need LPC permission first?

Posted by: pierre de taille at September 24, 2008 4:06 PM

I've always wondered whether the houses at the corner of President and Clinton have a picture of Bill up on the wall

Posted by: NorthHeights at September 24, 2008 4:07 PM

Delusions of grandeur....this house needs about 2M worth of work...then maybe it will still fall below the house on garfield that you posted for 8.5M! what the hell is going on..especially in this market? i think the broker needs to get a grip...

Posted by: just me at September 24, 2008 4:21 PM

BH, you (and I) will never convince the status junkies. But I'm glad to see some agreement on this.

Posted by: cmu at September 24, 2008 4:58 PM

ugh i can't imagine anything more boring than thinking or writing about kitchen appliances. these threads have really gone downhill since the good ole days of anonymous commenting.

Posted by: gkw at September 24, 2008 5:08 PM

I have brand new GE signature appliances and they look great and are super efficient. My place would have cost 100k more if they went with Bosch, Sub-Zero, etc.

It's a status symbol, I think it's crazy esp. in Manhattan when the people I know either eat out or get delivery most nights of the week.

That said I drive a beemer so people in glass houses shouldn't....

Posted by: Adam Dahill at September 24, 2008 5:18 PM

When I bought my house in Bed Stuy it came with Bosch appliances, including the W/D. I don't know wheteher its more appropriate to post that here or on the Bed Stuy thread for today. It was already gentrified before I came along and moved in!!!

I do put up Christmas decorations on the front door as well. Sorry for the numerous cross thread anecdotes!!!

Posted by: daveinbedstuy at September 24, 2008 5:43 PM

If you are selling a house that commands that kind of price tag you should certainly upgrade to the highest end status brands prior to selling. You can't cheap out on those sorts of things and expect to get a 3M or 4M asking price.

I cook daily, I'm going to run my appliances ragged for the next however many years before I sell So I bought what I wanted to USE (GE) while I live here, not what I'll end up selling the house with.

Posted by: TownhouseLady at September 24, 2008 5:49 PM

It is completely irrational to care what appliances there are in a $4M house. You can replace appliances more easily than anything else that might be wrong in a house. A $4M is just a $3,775,000 house with fancy appliances. Anyone who is swayed by a washing machine when they are spending $4 million dollars probably should get professional help before making any large financial decisions.

Posted by: Paluka at September 24, 2008 8:30 PM

Sorry, but I agree that if you're marketing a home as high end, you have to put in the brand names. It has no basis in rational reality, but that's the way the game is played.

I recall our first apartment hunt 10 years ago and finding a dumpy place with a Viking/SubZero kitchen. We were pretty impressed.

In all seriousness, I think that if you have the money, why not drop 10k on the fancy stuff? At the most it will impress some easily impressed people and at the worst it won't lead to snarky comments on Brownstoner.

Posted by: Bolder at September 24, 2008 9:40 PM

If there's anything that consumer reports would be extremely relevant to, appliances is it. buying an inferior product at a premium price doesnt seem to be the best plan.

PS Its time to give up on all those luxury brands. they were secondary beneficiaries of the boom now busted.

PPS There was a roper range for sale yesterday on the forum that i thought was amazing.

Posted by: slick at September 25, 2008 3:32 AM

Zinka, although Burn After Reading takes place in Georgetown, the crew spent weeks last year filming in BH. If you see the movie, you should recognize scenes shot on Hicks (by Love Lane) and Middagh Street.

Posted by: GHB at September 25, 2008 10:39 AM

« Foreclosures of the Week Streetlevel: Clinton Hill Bed Stuy Gets Photo Studio »

September 24, 2008

House of the Day: 169 Clinton Street

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