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February 9, 2009

House of the Day: 63 South Portland Avenue

63-South-Portland-Avenue-0209.jpg
It's hard to imagine a way to make this listing less visible: List it only on your 1998-looking website with no address, no interior pictures and just a few lines of text; then put a small sign in the window and spend no money on a New York Times ad. Brilliant! Of course, the survival of behind-the-times brokering tactics is a bargain hunter's best hope. In this case, the listing is 63 South Portland Avenue, a five-story, 22-foot-wide brownstone on Fort Greene's most fabled park block. The fact that it's a five-family and the listing says "creativity required" suggests this baby will take some work, but it could well be worth it at the asking price of $1,700,000. GMAP




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Comments

The listing also says "great rental income," which, unless stated otherwise, leads me to believe it comes with tenants. And maybe rent-regulated tenants.

Posted by: bk14 at February 9, 2009 1:27 PM

I've not seen a more clueless realtor. Must be a relative.

Posted by: daveinbedstuy at February 9, 2009 1:29 PM

'I've not seen a more clueless realtor. Must be a relative.'

DIBS, that's insulting relatives. Why can't it just be a clueless realtor...there are some around!

Posted by: bayridgegirl at February 9, 2009 1:31 PM

"but it could well be worth it at the asking price of $1,700,000."

Because $1.7 million is chump change, right?

Posted by: bk14 at February 9, 2009 1:32 PM

According to Property Shark, it has a rooming house C of O, over 25 open violations and taxes over $9,000/yr.
You would have to have nerves of steel and a wallet made of platinum to touch this.

Posted by: Maly at February 9, 2009 1:38 PM

No, but it is "The Best Block in the city" according to Time Out and the best brownstone block in the city according to Charles Lockwood!

Posted by: brownstoner at February 9, 2009 1:39 PM

No more discussion required after Maly's post!!!!

Posted by: daveinbedstuy at February 9, 2009 1:41 PM

Obviously if this comes with some grisly tenant situation the asking price is too much. Hadn't seen those violations either. Yikes!

Posted by: brownstoner at February 9, 2009 1:44 PM

well, it does explain why the real estate agent didn't list the address.

Posted by: Maly at February 9, 2009 1:44 PM

Is the agent the owner????

Posted by: daveinbedstuy at February 9, 2009 1:46 PM

The owner is Renovation Generation (ha!), with an address of 261 Adelphi, which happens to be a small 1 story office belonging to a *drum rolls* real estate firm, Whitaker, brooke & Harrison.
The only link I can find is that their website is just as deficient as the broker's. Who knows?

Posted by: Maly at February 9, 2009 2:02 PM

> "real estate firm, Whitaker, brooke & Harrison."

Represented no doubt by the law offices of Dewey, Cheatham and Howe.

Posted by: SnarkSlope at February 9, 2009 2:05 PM

Ha! so snarky, it glitters!

Sorry I killed the HOTD. To redeem myself, I will pass on a valuable real estate porn tidbit: I was walking in front of that gorgeous haunted mansion at 405 Clinton on Sunday, and a moving crew were emptying the house. The movers were saying the house has sold.

Posted by: Maly at February 9, 2009 2:10 PM

Not speaking for or against her, just saying that Eva Daniels is a Ft. Greene oldtimer, and she'd be familiar to you if you'd been attending brownstone preservation events in the 80s and 90s:
http://ny.therealdeal.com/articles/owners-seeing-green-in-fort-greene
http://query.nytimes.com/gst/fullpage.html?res=9807E2DE143AF932A15756C0A9669C8B63&sec=&spon=&pagewanted=all

Posted by: vinca at February 9, 2009 2:18 PM

I agree that the website and general marketing style is severely outdated and amateurish when it's compared to that of the big gun brokerages. I'm also not surprised by some of the reviews I've seen of Eva Daniels' business where her agency is characterized as sloppy and unprofessional. However, FWIW, Eva Daniels is viewed as THE realtor of choice to many old school residents of Clinton Hill/Fort Greene. That's because as an apparently self-taught, enterprising African American female, she staked her claim on moving real estate in so-called "fringe" nabes when other more "mainstream" brokerages in the borough wouldn't have dreamt of it. Enter the pre-bubble/bubble period of the mid-90's to 00's when the Corcorans, BHS, Douglas Ellimans, etc. began making serious claims on Fort Greene/ Clinton Hill on behalf of their gentrifying clientele -- Eva's game got blown out of the water, so to speak. Nevertheless, because of her very long history and deep roots in these neighborhoods, she's apparently been able to still pull down listings in these parts.

Posted by: Brooklynista at February 9, 2009 2:18 PM

> "Ha! so snarky, it glitters!"

Indeed I do.

Posted by: SnarkSlope at February 9, 2009 2:23 PM

That's actually sad when that happens...the fact that Eva was one of the first in the neighborhood and lost all that "market share" to the biggies.

I see that happenning in Bed Stuy as well. The local people are all pretty nice and low key and then you have all those yahoos from Corcoran slithering all over!!!

Posted by: daveinbedstuy at February 9, 2009 2:29 PM

"It's hard to imagine a way to make this listing less visible..."

Ahhh, the shadow inventory keeps mounting.

***Bid half off peak comps***

Posted by: Brownstones Half Off at February 9, 2009 2:33 PM

that person standing in the window is creepy.

Posted by: i disagree at February 9, 2009 3:05 PM

So true, Dave and Brooklynista. I've said that here for a while.

On the other hand, people looking for homes in those neighborhoods, especially Bed Stuy, should check the old guys out. Many other old time residents, who may have bought their homes from these brokers, or the current broker's parents, still come to them to list their homes, because they are loyal, and many just don't trust the newcomer realty firms, often with good reason. The local broker may not have a fancy website, won't have a cappuccino machine, and hip and happening brochures, but they know their stuff, and know every house on every block.

Posted by: Montrose Morris at February 9, 2009 3:14 PM

Right, MM! Your main point is actually my main point. :)

Posted by: Brooklynista at February 9, 2009 3:34 PM

So who are the old guys in Bed Stuy we should check out?

Posted by: mopar at February 9, 2009 3:48 PM

Stuyvesant Heights Brokerage on Stuyvesant Ave and then another one on Decatur (I believe) just east of Malcolm X. Can't remember the name of the latter but I will look it up when I get home.

Posted by: daveinbedstuy at February 9, 2009 3:51 PM


Flateau realty....it is on decatur

www.flateaurealty.com

He has 7 listings in Bed Stuy...$750 and under.

Posted by: daveinbedstuy at February 9, 2009 4:05 PM

MM and Brookynista are so right. Eva Daniels is an institution in Ft. Greene/Clinton Hill and she knows every house in those neighborhoods. Long-time residents have good reason to trust her.

I'm sure the encroachment of the "biggies" and their customers who feel they are just not buying a house unless they are working with their Corcoran agent have hurt her business somewhat, but there are many in the neighborhood who remain loyal to her. The sellers of this house, who have a real estate "company" because they've owned several investment properties in Ft. Greene forever, are just one example.

Posted by: dylanfan at February 9, 2009 4:12 PM

DIBS... you got home in 14 minutes?!

Posted by: cmu at February 9, 2009 4:30 PM

No, cmu. LOL I did a google search and saw it.

Posted by: daveinbedstuy at February 9, 2009 4:32 PM

Whew, for a minute I was thinking I *so* live on the wrong subway lines.

Posted by: SnarkSlope at February 9, 2009 4:33 PM

People who live in the Slope do live on the wrong subway lines. They all assume they can get to Manhattan faster than I can.

Posted by: daveinbedstuy at February 9, 2009 4:38 PM

I hear you DIBS. We So. Slopers not only have to cope with the overcrowded, slow and rare F train, we get to be teased with an unused express track. However, being close to 4th Ave has its advantages. M/R to N means just 6 stops from from our bucolic framesville to Times Square, at least during weekdays.

Posted by: slopefarm at February 9, 2009 4:51 PM

i heard today from a tenant that building already has a deal on it

Posted by: chrishavens at February 9, 2009 5:31 PM

Well how much do you folks think this place is worth even if was a gut renovation (provided it is delivered vacant)? It is on a great block with stellar transportation and entertainment options.
Maly thanks for the good scout work...ACRIS & Property Shark only?

Posted by: pierre de taille at February 9, 2009 5:43 PM

To me, 1.7 mil. seems low for a 5-unit building (putting aside whether it could be converted economically into an owner's duplex/2 floor thrus). If it was market rate the rent roll should be around 8-10k/month. 100k/year in rental income should easily help finance this. But I'm no landlord, so I'm guessing the price is in line with comps.

I can't even imagine what it would take to renovate this into duplex plus rentals. If it were indeed delivered vacant, $1.7 seems high considering you've got 5 kitchens/baths to gut and rewire/replumb. So, PDT, I'd say $1.4 as a clean-title gut job.

Posted by: Bolder at February 9, 2009 6:19 PM

This seems like a lot of money to me for the real estate equivalent of "mystery meat".


Posted by: sam at February 9, 2009 7:32 PM

Honestly, I wish you kids wouldn't knock Eva all the time. She has her issues, many of them good ones. She really stuck it out and I'm glad she is willing to take on harder cases which apparently this house may be. The big agencies have a lot of overhead and can only be in it for the easy money. The money may not be so easy now. Eva, God love her, is hanging in. She has been a moving force in Fort Greene for decades and real community mover and shaker who should be getting recognition, not flack over a website that doesn't have a enough wow factor for 20 year olds.

I'm not quite sure how or why South Portland is such a big deal to everyone. I have always felt it is depressing and many houses need some major facade work, stoop redos, ironwork redos (where there is none), some of the houses are shabby or stripped of much of their character.

I have to say I generally do prefer the look of the brick and wooden houses in the neighborhood with the occasional brownstone thrown in...but too many of them in a row with all that brown-dyed cement slathered on them, often not well, looks...well, plain dreadful to me. (Have a look at the block of Carlton between Willoughby and DeKalb...very picturesque...just one of the blocks that is very sweet).

I'm sorry. I really am. I wish I could get into the excitement over these "brownstone" facades...but they're not exciting and not even brownstone anymore. Yes, I really do like well laid brownstone structures where the stone has survived the last 100+ years without spalding and needing cementing over. If they hadn't cut corners building these houses, the stone facades would have lasted a lot longer. I have to say, it is a real shame...although, once in a while there are some very well done resurfacing jobs that are mildly convincing. There're some on South Portland actually.

There are a good number of houses in Park Slope that have very decent brownstone but they're all of later vintage than Fort Greene and positively NOT my taste except example for the rare example. This brings to mind the parlor screen of the house in Prospect Heights that was shown on This Old House. I find that spindle/machine carving very, very ugly. Also, the cheap, palsy, incised neo-greque patterns on the later brownstones and the motifs springing from orientalism (the floral motifs from Indian mogul architecture for example) are not my style and a pale shadow of the original.

I grew up around Federal architecture that harkened back to an earlier period. I have to say, American architecture using classism as a resource sprung off Georgian and movign into romanticism...all much more pleasing to me than the eclecticism and orientalism of the post-romantic period when so much was being massed produced on a much grander scale than previously. I have not been able to make the leap to the end of the 1800's/early 1900s...and the reaction to the eclectism (colonial revival and beaux arts) kind of get me down too. Frank Lloyd Wright though...that I like! I would much rather live in a 1950's house, quite frankly, than a late "Victorian" house with all that dreadful spindle work.

Every once in a while we run across a house with good detail and surfaces of brownstone left. We find them very charming, esp. if they've been left to weather without that perfunctory coating of brown cement.

Sorry for my long-winded Fort Greene analysis but the H.U. is out of town.

Posted by: BrooklynGreene at February 9, 2009 8:01 PM

"Every once in a while we run across a house with good detail and surfaces of brownstone left. We find them very charming, esp. if they've been left to weather without that perfunctory coating of brown cement."

Is that a royal "we". lol. That's one long somewhat random post.

As for the critique of Eva's website, sorry but it is justified. No one is looking for "wow" factor, just easily accessible information and photos. The internet real eastate audience is not a bunch of 20 year olds either, as you suggest above...

Posted by: 1842 at February 9, 2009 8:29 PM

Hey guy, if you don't like the look of brownstone facades, you may want to reconsider posting on a blog named "brownstoner".

Posted by: sam at February 9, 2009 8:43 PM

Thanks Bolder we were thinking about the same amount as well i.e. 20% off ~$1.4millions.
BrooklynGreene that seemed like a "flight of ideas" post but really entertaining. To each his or her own but we agree with Time Out NY that S Portland is an amazing block even with some of brownstones being altered significantly. The huge mature trees, great historic architecture, proximity to FG park, easy access to transportation, etc make this block very attractive.

Now Eva Daniels may be a good person but make no mistake she is like the big companies in it for the $$ as well which btw is fine. However her marketing skills leaves much to be desired as Mr B pointed out; she doesn't return phone calls and that website is beyond cheap and lazy...these are really the basics no?

Posted by: pierre de taille at February 9, 2009 9:13 PM

Sam,
Even though the blog is called Brownstoner, it features lots of different houses: brownstone, wood frame, pre-war/post-war buildings, new construction (fedders, hi-rise) and others in the topics. Nobody questions your right to comment on non-brownstone topics, right?
FYI, if you're about to label me an anti-brownstoner too, I'm not one.

Posted by: Gravis at February 10, 2009 10:55 AM

Are you suggesting because Ms. Daniels has been around a long time she shouldn't bother to do a better job marketing her listings. That's ridiculous. It isn't that hard to take pictures, post them, and even do a rough floor plan. The truth is that a buyer wants to know certain things up front before they spend time on a listing that may be all wrong for them. A broker can be honest, loyal, and still do a good job at that. You can be efficient without being slick and superficial. And, everyone should be aware that pending rent legislation will make it very difficult if not impossible to remove rent stabilized and controlled tenants for owner's personal use. It would be better for the owners to sell this place now, rather than later.

Posted by: homey at February 10, 2009 12:26 PM

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