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February 12, 2009

House of the Day: 316 Maple Street Revisited

316-Maple-Street-1207.jpgWhen we looked at 316 Maple Street back in December 2007 we called it "one of the more overpriced houses we've seen in a long time." Of course, the three-story brownstone in only a so-so part of PLG was asking a mind-boggling $1,200,000 at the time, so that wasn't the hardest call to make. Now the price has dropped almost in half to $689,000 and the big question is, will it sell even at this price? The listing says that it "needs some tlc" and not much else. Bets?
316 Maple Street [ReMax] GMAP P*Shark
House of the Day: 316 Maple Street [Brownstoner]




Posted by Brownstoner at 1:14 PM | Comments (22)
Categories: HOTD, Prospect Lefferts Gardens

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Comments

Can we include this price chop in the team bear statistics or is that unfair?

Posted by: dittoburg at February 12, 2009 1:16 PM

Not for something that was just sheer lunacy. This broker must be some lazy piece of work for this listing.

You out there Madelaine?????????

Posted by: daveinbedstuy at February 12, 2009 1:19 PM

Unfair. That's gotta be twice peak comps. Apparently nice bones but way out of my location criteria.

***Bid half off peak comps***

Posted by: Brownstones Half Off at February 12, 2009 1:22 PM

Now drop the price almost in half again, and I'll pay cash.

Posted by: bayridgegirl at February 12, 2009 1:23 PM

Am I missing something - the house looks nice on the outside
is the nabe REALLY that bad?
Also - I can't see interior pics - are there any?

Posted by: gemini10 at February 12, 2009 1:27 PM

Ms.Caudiano shows her vast knowledge of the neighborhood with her list of recent sales, all but one of which are not in PLG. I'm sure the $10 Palm Court sale will help her sell this house for $689K :-)

Seriously though, with some further bargaining, this house might be reasonable, although Maple between Nostrand and New York Avenues is not anywhere near as desirable (IMO, of course) as two blocks, or even one block, further west.

Posted by: Bob Marvin at February 12, 2009 1:29 PM

At this price it starts to look interesting and Nostrand is a lively shopping street with good subway access. Plus if you work at Downstate Medical Center you could walk to work. Of course it isn't prime Lefferts Gardens... but it is pretty cheap.

Posted by: LM at February 12, 2009 1:32 PM

I see a couple of listings in PLG that have had major chops. . .
Tudor on chester court went from $700K to sell at $550.
Frame house at 207 Fenimore was $1.2M (yikes), dropped to $1.05. . .now $850.
Outside of the best blocks, buyers are scarce.
These places used to be $500K or so.. ... who's to say they aren';t going back to that level?

Posted by: ontheparkway at February 12, 2009 1:37 PM

If you look at the comparable sales listed when you follow the link, you'll see our gal Madeline is still 200+ off the mark. The What always proclaims the war will end, I just want to know when the insanity will cease.

Posted by: househunt at February 12, 2009 1:45 PM

500k sounds like a nice price.

Posted by: Santa at February 12, 2009 1:46 PM

I guess the brownstonehalfoff guy was right. Now let's see same cuts for park slope.

Posted by: MaplewoodGuy at February 12, 2009 1:49 PM

This price looks great...

Posted by: Amzi Hill at February 12, 2009 1:54 PM

File under Who Cares.

Posted by: Whuh at February 12, 2009 2:15 PM

Hm, if this were a two-family for about $500,000 it might be a better option for us than Ocean Hill. It's on the 5 train, which would mean no transfers and maybe a significantly faster commute for me. I've never been to this area, don't know anything about it. Bob Marvin, any thoughts?

Posted by: mopar at February 12, 2009 2:16 PM

In defense of Madeline (who doesn't really deserve it -- "South Crown Heights"???) the recent sales data is "Powered by NYC Department of Finance." So that is the NY Times fail, not the realtor's.

Posted by: serpentor at February 12, 2009 2:25 PM

Mopar,

I'll stand by my 2007 comment:

"What can I say? This house is on Maple IV which, as 1:42 wrote, is an OK block, but not prime PLG. I'd go as far as saying that this must be one of the nicest houses on any Nostrand--New York block"

At the lower price I think this is worth looking at, especially if there turns out to be lots of room for additional negotiation. The block isn't bad at all, although it isn't Lefferts Manor,or part of the PLG HD. FWIW there's a fairly descent-looking Karl Fisher condo building on the block:

http://www.corcoran.com/property/nd/detail_overview.aspx?ndevid=390

IMO it's worth looking at and a MUCH better option than Ocean Hill. As you mentioned, the 5 train is pretty close, at Sterling and Nostrand, and, in addition, the Q and B trains, at Prospect Park (Lincoln Rd., bet. Flatbush and Ocean) are only about a 10 minute walk.

You really should take a look at PLG and judge for yourself.

Posted by: Bob Marvin at February 12, 2009 2:31 PM

Theres always idiots proclaiming "this price looks great" as it goes further down and down and down and down

Posted by: cornerbodega at February 12, 2009 2:49 PM

So, Corner, you would like the price better if it were higher?

Thanks so much, Bob. Appreciate it.

Posted by: mopar at February 12, 2009 5:29 PM

idiots use terms such as "like", "hope" instead of reality. That reality is price/income. As song as its still way out of wack, and somebody goes "great price!", that person is quite simply a moron.

Posted by: cornerbodega at February 12, 2009 6:02 PM

maybe some people have higher incomes than imaginable to you bodega boy!!!!!

Posted by: daveinbedstuy at February 12, 2009 6:32 PM

certainly not you ghetto white boy. I highly doubt somebody who speculated in the ghetto has much money. Have fun getting poorer by the day. Whats the word on the street? Up to 65% for ghetto areas that were speculated on. Thats a slow painful death. Ouch...

Posted by: cornerbodega at February 12, 2009 10:09 PM

Its important that Dave is white right Mr. Cornerbodega? Glad you mentioned it.

Posted by: dittoburg at February 13, 2009 8:46 AM

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