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January 2, 2009

Open House Picks

housePark Slope
586 4th Street
Corcoran
Sunday 2:30-4
$2,599,999
GMAP P*Shark

houseCarroll Gardens
356 President Street
Century 21
Sunday1-3
$1,749,000
GMAP P*Shark

houseBedford Stuyvesant
484 Monroe Street
Fillmore
Sunday1-3
$559,000
GMAP P*Shark

houseBrooklyn College
1605 New York Avenue
Mary Kay Gallagher
Sunday2-3
$469,000
GMAP P*Shark




Posted by Brownstoner at 1:01 PM | Comments (16)
Categories: Open Houses

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Comments

The price on the 4th Street house is starting to look downright "cheap"

I'm loving see the prices come down, hoping that soon there will be more folks interested. With each falling price, the pool of people who can afford any given place becomes that much larger.

Posted by: 11217 at January 2, 2009 1:19 PM

Park Slope house is a classic limestone beauty. I love it. I'd have to strip some more, but not all painted woodwork, but that's just me. Kitchen is eh, but if I could afford the house, I could afford to spiff up a basically functional, practical, but humdrum kitchen. That would be part of the fun.

Bed Stuy house looks to be a good buy, for the most part. When people "renovate" these houses for resale, they would do better to just rough out the kitchens and leave the details to the buyer. Neither of those kitchens is cutting it, especially with those cabinets. I'd rather see the new gas pipe sticking out of the wall, ready to go, rather than a really cheap stove and less than Home Depot cabinets. This place has potential.

Posted by: Montrose Morris at January 2, 2009 1:24 PM


Hell no. . .

I wonder if anybody will even show up at these open houses.

Posted by: IronBalls at January 2, 2009 1:50 PM

356 President was HOTD back in november. Looks like been price chopped - was $1.82.
Still looks like nice house. Just bad time to have on market.

Posted by: Petebklyn at January 2, 2009 2:38 PM

The Bed Stuy house is in decent shape but is basically as far away from a subway stop as one can get in that neighborhood, which I'm sure hurts its appeal.

$550k for two duplexes would be extremely appealing to my wife and I, and another couple we know, if it was closer to the subway.

Posted by: cwbuecheler at January 2, 2009 3:00 PM

I could see myself working on that New York Ave place.

Posted by: rh at January 2, 2009 3:15 PM

You know 11217, you comment that "I'm loving see the prices come down..." doesn't really square with your previous coments on this very house, when it was HOTD back in July:

"I think 2.6, (even if the mechanicals are not updated) is totally unrealistic.

Even 2.8 would sound like a relative bargain to me for this house.

I believe comps would support a 3 million dollar asking/selling price, even with the softening market.

Posted by: 11217 at July 21, 2008 2:56 PM"

Posted by: SnarkSlope at January 2, 2009 5:35 PM

SnarkSlope are you trying to stir trouble? :) We are all entitled to change opinions and back pedal a little bit no?
That place will need another 10% to 15% reduction in our opinion.

Posted by: pierre de taille at January 2, 2009 8:34 PM

4th Street: 400K down in 5 months. It tells us something, NYC is not immune to real-estate crashes. 11217...not true, prices coming down doesn't mean more people interested. It just mean prices coming down...in this market, perhaps realtors should start to realize that buyers are not dumb and ready to cough it up and perhaps are just smart enough to wait to move to see where the market is going, which is the thing to do right now. Or perhaps that for once the buyers could make the prices go down by not moving at all...let's get the realtors to cough it up for once!!!

Posted by: grenouille at January 3, 2009 7:54 AM

> "SnarkSlope are you trying to stir trouble?"

Moi? C'est impossible!

Posted by: SnarkSlope at January 3, 2009 10:11 AM

SnarkSlope does make the point very clearly... folks like 11217 are the *cause* of the housing bubble. Simple as that. If you say something is "worth" $3 million when it is really a $1 million home (at best), then that's where the problem comes from.

We're all responsible for many aspects of the economy... but the worst of all are the folks that are willing to pay the crazy inflated prices, promote the crazy unsustainable prices and, finally, sell their property for absurd profits. 11217 and MOST people that visit this website are on this list.

I do not count myself as one of these. I actually am enjoying a bit of the ol' shadenfreude watching this mess.

Posted by: tybur6 at January 3, 2009 11:11 PM

I love the York Avenue house - very tempting at that price.

Posted by: donatella at January 4, 2009 1:21 AM

I wonder just how much infrastructure work the New York Ave. house needs. I'm guessing a lot--and also that it's not appealing to a lot of people as a 2-family. It could easily be a money pit, or it could be a place to live as you restore/renovate it piecemeal.

Also, you're an hour from midtown Manhattan -- maybe shorter, sometimes, but you still have to walk to and from the subway. A plus is you're half an hour on the bus to the beach at Riis park or Belle Harbor.

It's sort of odd that wood-frame homes like this haven't really caught fire in Brooklyn--if you look at SF, Seattle, Portland (both of them), Boston and Cambridge, they are really desirable. But not here. Maybe it's because neighborhoods like E. Flatbush have been so chopped up by piecmeal development that they don't really feel unified.

Posted by: Bolder at January 4, 2009 11:20 AM

The New York Avenue house is firmly in Flatbush. East Flatbush would be close to Kings County Hospital.

Posted by: BrooklynIsHome at January 4, 2009 5:06 PM

Thanks. My mother is from that area and went to BC so I should probably know that.

Posted by: Bolder at January 4, 2009 7:25 PM

I would argue that the wood frame houses in Ditmas Park Proper, Prospect Park South, and the other Victorian Flatbush neighborhoods are desirable to many... Hence the huge price jumps over the past 5-10 years... I think it's the neighborhood, East Flatbush, that is less than desirable.

Posted by: Architerrorist at January 4, 2009 8:16 PM

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