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April 28, 2009

Condo of the Day: 320 Washington Avenue, #1B

320-Washington-Avenue-0409.jpg
The Graham Home for Old Ladies is one of the most distinctive old buildings in Clinton Hill. Unfortunately, the conversion to condos resulted in fairly run-of-the-mill interiors. Nothing horrible but there's no sign of any historic charm. Still, the layout and proportions of the this ground-floor two-bedroom are nice as is the location. There hasn't been a lot of turnover in the 25-unit building in the last couple of years as far as we can tell so we'll be interested to see how the asking price of $685,000 flies.
320 Washington Avenue, #1B [FSBO] GMAP P*Shark





Posted by Brownstoner at 12:38 PM | Comments (41)
Categories: Clinton Hill, Condos

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Comments

ugh how many poor old ladies were kicked out of this place to construct dull 3/4 million dollar condos!?! pretty building tho on the outside!

*rob*

Posted by: PitbullNYC at April 28, 2009 12:44 PM

The facade of the building is magnificent. Three collossal vertical bays with elliptical arches topped by a lovely denticulated triangular pediment. umm mm good!
The apartment though is really boring.

Posted by: mcKenzie at April 28, 2009 12:47 PM

Location, location, location. This is a ground floor, CH apartment. I can do the math, but why does the seller fail to list the total square footage and, more importantly, the monthly charge?! $457, 000, in these dark times.

Posted by: househunt at April 28, 2009 12:48 PM

Rob m'dear, the old ladies had long since gone to their reward when the rehab on this building was done. I seem to recall it was vacant for years. Maybe it was caught in the headlights of the last real estate bust in the late 80's?

Posted by: mcKenzie at April 28, 2009 12:53 PM

these units are 825 sq ft - from memory calc'ing it off the flrplans when this condo came out. unit is so so but location is great - great if one has little kids (good park right next to it). Think this unit might've asked ~400k at the time

Posted by: more4less at April 28, 2009 12:55 PM

This building is so beautiful from the outside. Have seen some of the apts inside and while they could have done more with period detail they are spacious and light filled. And if you have a kid this location can't be beat (for Clinton Hill at least). Underwood Park (the best urban kids park I have ever been to) is right next door as is the subway. If this only sells for around what the readers are estimating it as it will definitely be a sure fire sign of loss of home value in this area as this is probably the nicest single condo development in the area and units were moving for a lot higher a few years ago.

Posted by: wasder at April 28, 2009 12:55 PM

Absolutely stunning building, but I find the asking price completely absurd. Laughable, almost.

Posted by: 11217 at April 28, 2009 1:07 PM

It's actually more like a 1,043 square feet per offering plan. Plans are sometimes slightly off base, so it may be a 1,000. Maintenance is probably around $400 plus. It is a great building with a diverse and interesting group of owners. It's well run, financially sound and one of the best Condo settings in Clinton Hill/Fort Greene. Only 3 units per floor makes it very private. Rear building (It is comprised of two attached buildings) has 2 units per floor. Main building was first home for old ladies in Brooklyn (maybe US). Later a rear infirmary was added to move women to when they became too frail to live alone in their private rooms. Some of the units have been renovated nicely since sponsors cookie cutter offering.
I live here and love it. Best kept secrete.

Posted by: Oldlady at April 28, 2009 1:16 PM

The sf is a little over 1000, according to the floor plan.

Posted by: Nomi at April 28, 2009 1:17 PM

One of my fave Clinton Hill buildings. I had a friend who lived in the brownstone next door while going to Pratt in the 70's, and we got an eyeful, as it was the Bullshipper's Motel then, a notorious um, hot pillow joint.

I always wanted to see inside, but there wasn't much chance of that. Too bad they were not able to reintroduce any historic detail, if any remained. I guess those who might know would be too embarrassed to tell.

Posted by: Montrose Morris at April 28, 2009 1:19 PM

11217--yeah, definitely priced as if last fall never happened. At right around 600 would be a decent buy I think, especially given relatively low common charges.

Posted by: wasder at April 28, 2009 1:21 PM

Montrose--you must be Bullshipping about the name of that "motel."

Posted by: wasder at April 28, 2009 1:24 PM

Is it just me or is it odd that there's no contact info for the FSBO? And where do you see the asking price? Am I blind?

Posted by: kvnbklyn at April 28, 2009 1:24 PM

Agree that the building's fantastic, and the apartment itself is underwhelming. I also like the neighborhood, altho being stuck on the G-train is mildly sucky. Least it's only a stop to the A transfer tho.

My opinion: it's worth about $450k. It'll probably go for higher than that, though.

Posted by: cwbuecheler at April 28, 2009 1:26 PM

>"Is it just me or is it odd that there's no contact info for the FSBO? And where do you see the asking price? Am I blind?"

Could not find them either.

Posted by: Nomi at April 28, 2009 1:33 PM

I guessed 450K also on the widget. I imagine it might go for a bit higher than that, but I don't believe it's "worth" more than 450K at this time given what else is out there.

Posted by: 11217 at April 28, 2009 1:33 PM

Currently, this is definitely worth more than 450k. 2 bdrm units in the Clinton Hill coops (right next to this bldg) are selling for ~$450k or a little more. This unit is a condo (vs coop), lower CC+Ppty tax, much better looking bldg, much better looking lot, etc. has to be worth more than 450k CURRENTLY (maybe cheaper later but now, more than 450k)

Posted by: more4less at April 28, 2009 1:41 PM

Isn't what something will go for at any given moment what it is "worth" at that moment?

Posted by: Nomi at April 28, 2009 1:46 PM

Great story, Montrose.

Posted by: mopar at April 28, 2009 1:47 PM

we should all go over there, ring the buzzer and ask how much do you want for this apartment and what is the monthly maintenance.
how else are you supposed to get in touch with these jokers?

Posted by: ontheparkway at April 28, 2009 1:50 PM

I just mean, as far as the appraisal widget, shouldn't we be entering what we guess it will sell for, rather than what we wish it would sell for, or what we would be willing to pay for it?

Posted by: Nomi at April 28, 2009 1:52 PM

Nomi, prices are drifting lower all the time and it could be accelerating on the pace of the drop. So NOW, I'm saying it's definitely over 450k. 2 wks later, who knows?

Posted by: more4less at April 28, 2009 1:52 PM

No price, no details, no contact info.

It's a FSBI: For Sale By Idiots.

Posted by: SnarkSlope at April 28, 2009 1:53 PM

As I said earlier, if this goes for anywhere close to where you guys are widgetizing it, then it is a perfect snapshot of the collapse in the Clinton Hill market. These apts were selling for 700 at peak so 500 would represent a pretty large percentage drop. These are real two bedroom two bath units in a really great location. IF they don't sell for more than 450-500 the entire market is headed for a fall (not that you needed me to tell you that).

Posted by: wasder at April 28, 2009 1:55 PM

I'm pretty bearish and I would be very surprised (close to shocked) if this didn't sell for 500k or more

Posted by: more4less at April 28, 2009 2:00 PM

>"Nomi, prices are drifting lower all the time and it could be accelerating on the pace of the drop. So NOW, I'm saying it's definitely over 450k. 2 wks later, who knows?"

Yes, right, that's my point.

I was really responding to 11217 saying that he put in 450 even though he thinks it will go for more than that. What any individual thinks a place is "worth" is not a way to determine an appraisal, even an informal appraisal like we are doing on here. Not that I have the means to do anything like a proper appraisal --none of us do -- but entering what we think is "fair" is not what an appraisal is.

Posted by: Nomi at April 28, 2009 2:02 PM

To me appraisal means what the apartment should sell for.

In my personal opinion, I think the apartment should sell for around 450K. (But I also realize that some people don't think like me, and there might be A single fool out there willing to pay nearly 700K to live in a rather small and boring apartment near the G train, even though you can get far nicer apartments in far "better" locations. Key is that second to last word, as there are those who think Clinton Hill IS the best location, as I've learned on this blog the hard way).

Glad I don't do this for a living, right...? ;-)

Posted by: 11217 at April 28, 2009 2:09 PM

I feel like we just recently saw a 2 bedroom for sale in Brooklyn Heights on here for less money than this (maybe a couple weeks ago?)

In what alternate universe has Clinton Hill near the G train become on par (price wise) with Brooklyn Heights...?

Posted by: 11217 at April 28, 2009 2:11 PM

cheaper than the widget price on this ppty?

Posted by: more4less at April 28, 2009 2:14 PM

That alternate universe is the ancient kingdom of Bubbylonia.

Posted by: SnarkSlope at April 28, 2009 2:16 PM

"but I don't believe it's "worth" more than 450K at this time given what else is out there" 11217

translation - you can find better in park slope. LOL

i have been in this building - the apartments are a nice size. it's a beautiful building & great location.

Posted by: bkny at April 28, 2009 2:16 PM

You said that bkny, not me.

Please don't put words in my mouth. Clinton Hill is an absolutely gorgeous neighborhood, and I still consider 450K to be a lot of money for a 2 bedroom apartment.

Posted by: 11217 at April 28, 2009 2:19 PM

"translation - you can find better in park slope. LOL"


And to be perfectly frank, after the last weekend here, I really wish a few people would head out of the slope, because it was so freakin' busy we could barely find a spot to eat at on Sunday night without a half hour wait.

Posted by: 11217 at April 28, 2009 2:22 PM

"Nobody goes there anymore; it's too crowded."

Posted by: Nomi at April 28, 2009 2:26 PM

We looked at this place years ago when it first went condo. Very pretty outside but the design inside was terrible. If memory serves me correct, the fridge placement blocked a cabinet door, and there was a washer-drier hookup in the living room! Hope they worked out the kinks, but it definitely looked like the developer had not thought through logical floor plans...

Posted by: Miss Muffett at April 28, 2009 2:29 PM

Ha...fun quote Nomi. I like that.

Posted by: 11217 at April 28, 2009 2:30 PM

It would be great to get 2 apartments in this building and combine them. One on top of each other and have that full set of windows. Maybe 2nd and 3rd floor. I know that you loose square footage but a double height great room with those windows would be AMAZING.

Posted by: Adam Dahill at April 28, 2009 2:49 PM

>"Ha...fun quote Nomi. I like that."

Yogi Berra. Well, supposedly. He also said, "I didn't say half the things I said."

Posted by: Nomi at April 28, 2009 2:54 PM

11217 - you didn't say it, but you probably thought it - LOL. just jokes.

but seriously "Nobody goes there anymore; it's too crowded." LMAO!!!

Posted by: bkny at April 28, 2009 3:52 PM

I remember the sign for BullShipper's Motor Lodge. It was right there with the one for Graham Home for Old Ladies. I think the front part of the builidng was still in use when I first moved to Ft. Greene in the late 1980's and then the whole place was closed for years. The size of the fenced yard is pretty amazing for brownstone Brooklyn!

Posted by: bessie2 at April 28, 2009 5:17 PM

When I lived in Clinton Hill in the early 90s, this was still a working bordello. Everyone in the neighborhood knew, nobody seemed to care. It was a fairly discreet operation ... right next door to a kiddie playground!

Posted by: Park Sloper at April 29, 2009 5:32 PM

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