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April 9, 2009
House of the Day: 316 Cumberland Street

316 Cumberland Street has a huge parlor floor to die for, with intricate plaster ceilings and an extension that houses the modern kitchen. The house has also been upgraded recently with all new systems and windows as well. It's being used as a one-family but the ground-floor can easily be converted to a rentable apartment. All this sounds great but it will be interesting to see if it can pull off a price that's similar to some of the nicer homes currently on the market in Park Slope. How do you think the price of $2,295,000 will fly?
316 Cumberland Street [Corcoran] GMAP P*Shark
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I just fell in love.
I'm not sure I've ever seen a house on bstoner I've liked more from the pictures than this one.
Posted by: 11217 at April 9, 2009 1:18 PM
Very, very nice. Now that's a master suite.
That's a very nice part of CH. Convenient to everything.
Posted by: daveinbedstuy at April 9, 2009 1:23 PM
I think it's in Ft. Greene, Dave...
Posted by: 11217 at April 9, 2009 1:24 PM
Is that a bathroom with a couch? A sitting room with a tub?
Posted by: basementalist at April 9, 2009 1:25 PM
For $2.3 million...I want doors on my kitchen cabinets. Too much to ask???
Posted by: StuyIvy at April 9, 2009 1:29 PM
This house is beautiful.
Posted by: sebb at April 9, 2009 1:30 PM
11217...I thought that was really Ft. Greene as well. I always considered it such. I was there last night for dinner at Scopello's.
Posted by: daveinbedstuy at April 9, 2009 1:31 PM
forgetting that trying to appraise a house based on a few photos is basically economic soothsaying, I think if we accept that the appraisal widget is more "popular vote", to get an accurate read, it should automatically remove the top 2 and lowest 2 prices entered to remove what (at least on the high end) are entries added just to skew the number.
Making it require login is probably more work than the B folks would want to undergo right now, this at least makes a slightly more statistically accurate read of the gweneral public's take
Posted by: brandedmatt at April 9, 2009 1:36 PM
Beautiful house
that bathroom is unreal!
does anyone else think it can sell for 2mill?
Posted by: gemini10 at April 9, 2009 1:37 PM
2 mill minimum. Even in this market. Beautiful, beautiful house. Innovative and still respecting the structure. Can someone lend me 2 mill?
Posted by: Johnny at April 9, 2009 1:41 PM
Brownstoner, you posted about doing a 2200ft2 addition to a 3 story townhouse in Carroll Gardens. Did you ever get the project off the ground? If so, I'd love to chat with you about it.
Posted by: Stuart at April 9, 2009 1:49 PM
It is a lovely house, and it is on a lovely block, with a beautiful mix of unusual frames, brownstones and brick houses.
Won't hazard to guess a price, but FG is a solid neighborhood and only becoming more so.
Posted by: Schultz at April 9, 2009 1:54 PM
I just picked up on the fact that Mr. B allows for only a range +/- 40% on the appraisal thingy. I guess that means I'm restricted to what the place *will* sell for, rather than what is *should* sell for...
Hmmm... that's too bad. :-)
Posted by: tybur6 at April 9, 2009 2:08 PM
great house, great location. if any house of recent vintage on here deserves to sell for 2 million its this one.
Posted by: wasder at April 9, 2009 2:08 PM
I can't comment on appraisal values because I am really not knowledgeable on that but that is one lovely house. (As I cut my wrists with a butterknife and weep because I can't afford it).
Posted by: bxgrl at April 9, 2009 2:15 PM
That's a beautiful house in an awesome location ... I agree that it'll sell for close to ask (I put $2.1mm). I think this is the exact type of house that someone with lots of money falls in love with and pays all cash for.
Posted by: cwbuecheler at April 9, 2009 2:21 PM
Why hasn't The What been around to post this news...?
**
NEW YORK (AP) -- Wells Fargo & Co. said Thursday it expects record first-quarter earnings of $3 billion, easily surpassing analysts' estimates and providing an encouraging sign for the banking industry.
Posted by: 11217 at April 9, 2009 2:29 PM
11217...that's why the market is so strong today...WFC +24%, BAC +28%...
Posted by: daveinbedstuy at April 9, 2009 2:33 PM
Doesn't sound like the end of the world to me.
Posted by: 11217 at April 9, 2009 2:36 PM
Beautiful house! I love that master bedroom suite, with the bathtub in a room with space for an arm chair as well.
However, the layout does NOT work for anyone that would actually want to rent out that ground floor, since both the laundry room and the only access to the garden are on the ground floor. You'd need to build a deck from the kitchen to the garden, but since there already seems to be an extension, it's not clear how feasible that is. And I'm not sure where you'd put a second laundry room, unless it could be in the room marked "mechanical" on the top floor.
For someone who wants to live in the entire house, however, perhaps using the downstairs as an in-law apartment, a place for college-age kids to crash when they're home on vacation, a guest apartment or a home office ... this place rocks!
Now if only I had a couple of million bucks lying around....
Posted by: Park Sloper at April 9, 2009 2:42 PM
"Now if only I had a couple of million bucks lying around...."
Or you can do what Miss Muffet does and reiterate day after day that every single person's wealth in this country has been decimated by the recession, say that every property is priced 50% over what it should and try to convince yourself that you're entitled to live in the most prime areas of Brownstone Brooklyn on the amount YOU have to spend, not what the market actually bears...
I keed, I keed.
Posted by: 11217 at April 9, 2009 2:47 PM
loving the George Nakashima coffee table. This place looks too perfect not to be staged; or, the homeowners have impeccable taste, IMO.
Posted by: Fjorder at April 9, 2009 3:03 PM
Wells is smoke and mirrors. Hope you guys don't trade on what CNBC says.
Posted by: Whuh at April 9, 2009 3:19 PM
It's awesomely funny that the broker and a couple friends show up to each of these threads and rate the houses like a million dollars higher than anyone else.
Posted by: cwbuecheler at April 9, 2009 3:22 PM
The house is nice, except for the tub in the back bedroom, which is eccentric, and the kitchen, which is eccentric.
The parlor floor will sell the house. The big question: is Cumberland Street a two million dollar street? At that price, it's all about prestige and showing-off. Is this likely to be perceived as a prestige address?
I really don't know. Will mums and pops in Tuxedo Park be impressed? Will the best friends in Napa Valley be impressed?
Or will they say: 2.3 miilion to live where??
It's all about ego at this price point you know.
Posted by: sam at April 9, 2009 3:25 PM
You have such an odd view of Brooklyn, Sam.
I really have such a difficult time understanding it.
Is this same quandary applicable to those who purchase multi-million dollar homes in Harlem? Or to the many nice, but no name suburbs circling most U.S. cities with enclaves of 2-3 million dollar homes...?
Why couldn't the buyer be someone who happens to make a lot of money and loves this house? Why does it have to be something based in showing off and prestige? We're not talking about a 10 million dollar spread on Park Avenue here. Between this and some of your other comments on here, it seems like you're projecting to me.
Posted by: 11217 at April 9, 2009 3:39 PM
I like eccentric.
Posted by: mopar at April 9, 2009 3:41 PM
11217, I think I have a good view of Brooklyn. I said I did not know if Cumberland Street was or wasn't a prestige address. Why do you pick on my posts? Do you see me as an authority figure or as a father figure, which you obviously have trouble with?
You know I write what I think, just as you do. I think I come from a different place than you, but that is no reason to disrespect my opinion, or call me old, or other insulting names. I happen to think that prices in Brooklyn right now are seeking a bottom. I don't know when that bottom will hit. Maybe it already has. This is a nice house, maybe a little over-designed to appeal to the widest posible audience, which is usually a mistake in real estate.
Posted by: sam at April 9, 2009 3:54 PM
1.8M - buyer who can afford & willing to pay 2M for it will pound seller for add'l 10% cut on top so buyer feels he/she got a great deal.
I'm starting to think the deep pocket buyers are the ones who are pounding the hardest right now as far as demanding & getting big price cuts. Easy for sellers to blow off shallow pockets on 20% down on low bid. Harder to do so when deep pockets offer say 50% down but @ 1.8M. Diff is that low offer from deep pocket is way higher probability of no financing issues preventing a close.
Posted by: more4less at April 9, 2009 3:57 PM
I agree with more4less. I think 1.8 -.9 is the right price for this house.
Posted by: sam at April 9, 2009 4:02 PM
i love the layout and the location of this house. i can't comment on the price b/c anything at this price range is way to expensive for me. however, if money was no object this would be a strong possibility. love the nabe.
Posted by: bkny at April 9, 2009 4:05 PM
just took a closer look at the photos - why is there no mouldings around the parlor doors or any of the windows in the master bath or on the ground floor. that hallway on the ground floor is a waste of space - they should knock out the walls and open up the space. ok i'm done.
Posted by: bkny at April 9, 2009 4:10 PM
Pretty house and I like that area. But I think more4less is right - any buyers with deep pockets will drive a harder bargain these days. That's my strategy since we'll be financing a small portion if anything, but as a result, can leverage that to our advantage in this climate. It works, from what brokers are telling me.
Posted by: Miss Muffett at April 9, 2009 4:31 PM
"Do you see me as an authority figure or as a father figure, which you obviously have trouble with?"
Absolutely not.
I have a terrific father already, thanks.
Posted by: 11217 at April 9, 2009 4:34 PM
it looks like a 100% new sheetrock job on all the floors except the parlor. Some people like that clean look and new moldings are easy to install, but all in all this is not the most awe-inspiring renovation I have ever seen. And the kitchen with the open cabinets is not only cheap looking but will result in dusty dishes. I think a lot of our fellow posters got carried away by the sight of the bathtub sitting in the rear bedroom. I believe that sort of thing may appeal exclusively to the fantasies of non-buyers. If I were making a bid on this house my final demand would be a credit to cover the re-location of that tub.
Posted by: sam at April 9, 2009 4:41 PM
this place is nice, but the price is stupid. This area is not worth more then 400 psf in this market. The public schools suck in this area as well which has to be factored in being that this a family house. So throw in 25 thou per year per kid for 12 years into the cost.
Posted by: brickoven at April 9, 2009 4:41 PM
The sheetrock, down lights, and lack of moldings would really bother me normally. I think it's very interesting how they've compensated -- or made it look good and intentional -- with a carefully chosen mix of furniture that's both modern and traditional.
Posted by: mopar at April 9, 2009 4:49 PM
The furniture is very nice. An expert staging job, no doubt about it.
Posted by: sam at April 9, 2009 4:59 PM
It's very frustrating that quality of schools - something I could not care less about personally - contributes so much to a home's overall value. I understand WHY it does, but that doesn't prevent it from annoying me.
Then again, proximity to public transportation means a ton to me, and almost nothing to a person who drives into Manhattan daily, so they might find it annoying that home values skyrocket in areas near good subway stops.
Posted by: cwbuecheler at April 9, 2009 5:03 PM
CW: If you like good public transportation, you should love Brooklyn Heights, and yet you hate Brooklyn Heights. Go figure!
Posted by: sam at April 9, 2009 5:08 PM
sam -
BH's transportation is overrated. Sure, it's one stop to Manhattan ... but it's one stop to the financial district. Who the hell wants to go there? :)
Plus large chunks of BH are actually a sizeable walk from any subway entrances.
Additionally, the other things I value extremely highly in a neighborhood are access to a wide variety of restaurants/bars, and easy access to groceries, laundries, hardware stores, and similar. Brooklyn Heights is lacking in those areas - or at least, the areas of Brooklyn Heights I've been to.
All that said, I don't hate Brooklyn Heights. It's in my top six neighborhoods in Brooklyn I'd want to live in. It just comes in sixth. :)
Posted by: cwbuecheler at April 9, 2009 5:17 PM
cw it is annoying, but can you imagine paying 50 thousand a year for 2 kids and then college. To me that sounds like real financial stress. I would be bald in no time.
Posted by: brickoven at April 9, 2009 5:19 PM
I used to live in brooklyn Heights and all the things you list: groceries, laundries, hardware stores, bars, restaurants are within easy walking distance of all parts of the neighborhood, which is rather compact. In addition all the restaurants and amenities of Manhattan are a quick subway or cab ride away. I think you can say the Heights is over-expensive or too snooty or too white, those are all legit points, but to say that it somehow lacks neighborhood amenities is just factually incorrect.
Posted by: sam at April 9, 2009 5:24 PM
I completely agree with CW's assessment of BH. It's not a top destination for young people to live. That seems fairly clear.
The bar situation in BH is terrible, the restaurant scene is subpar, and the stores (majority of which are chains) are either on Montague or Henry, so yes...there are parts of the neighborhood which are not in fact a close walk to those things.
I wouldn't say anything about it being too snooty or anything like that...the reason I don't care for it (to live) are because of the reasons CW mentions.
It's beautiful to look at, that's for sure.
Posted by: 11217 at April 9, 2009 5:31 PM
sam -
The times I've visited Brooklyn Heights I've been mostly confronted by long blocks of houses with little or no amenities except for in the strip right alongside the park area on the western edge. Perhaps I just didn't explore enough side streets.
I have friends who live in BH and they readily admit that it doesn't offer the same amount of stores, restaurants, and bars as, for example, Park Slope or Smith St.
Posted by: cwbuecheler at April 9, 2009 5:31 PM
by western, I mean eastern :P
Posted by: cwbuecheler at April 9, 2009 5:35 PM
The interior decoration is so unusual and consistent I would guess the owners did it. Or they hired a very unusual interior designer.
Posted by: mopar at April 9, 2009 6:07 PM
cw, Brooklyn is a big place amd not all of us know every neighborhood. I admit for instance that i know very little about Williamsburg (other than Peter Luger's and a really good old fashioned "gentlemen's hattery" nearby). You should visit Brooklyn Heights with an open mind, go to the promenade walk down Montague to Henry and then to Atlantic. There really are many amenities. Not as many stores as Park Slope of course because Brooklyn heights is about a quarter or less the size of Park Slope.
Posted by: sam at April 9, 2009 6:16 PM
sam -
I've walked from Grimaldi's down to the ice cream place by the east river, then over to the promenade, then all the way down to Montague and then along Montague all the way to court street, then back up to the high street A/C. Also I've walked along Henry for much of it's length. Also I took the Brooklyn Heights house tour in 2007. I haven't covered every inch of the neighborhood, but I don't feel I'm making completely uninformed statements either.
I really do like Brooklyn Heights - it's a lovely neighborhood with amazing rowhouses and pre-war buildings. I liked Montague and Henry streets and could understand the appeal of living near them. Like I said: it's one of my favorite neighborhoods. It's just a little quiet for my taste.
Posted by: cwbuecheler at April 9, 2009 6:31 PM
Brooklyn Heights is definitely quiet. If one does not consider that a plus then one should not live there. That is very true.
Posted by: sam at April 9, 2009 7:06 PM
Nice house but not thrilling. Agree with some of the posts above that the sheetrock everywhere but the parlor gives me pause. You really gotta see and touch the finishes in a reno like this. Is it quality? Does it all come together seamlessly? Pics on the Corco website just ain't enough. Personally I'd prefer more original detail for that kinda price.
Also I hate rentals with huge kitchens and then a studio-cum-sitting room. Most tenants want a proper bedroom. And I don't find the master bedroom suite appealing. Would prefer a luxurious steam shower but keep the bathroom to its standard footprint and use the other room as a TV/media/library space. I guess I'm being picky but, hey, at $2.3m. every buyer is gonna be picky.
Posted by: 1929 at April 9, 2009 7:09 PM
Sam, Williamsburg is full of wonderful restaurants. I was just thinking how we never want to eat in Manhattan any more, only Brooklyn, because the latter is so much better for the money, cheaper, less crowded, and the Victorian decor is pretty.
Posted by: mopar at April 9, 2009 11:23 PM
"How do you think the price of $2,295,000 will fly?"
Like a donkey.
***Bid half off peak comps***
Posted by: Brownstones Half Off at April 9, 2009 11:44 PM
Agree with Sam about that bathtub. Would want it in the bathroom, not all to itself in a 12' x 12' room that is large enough to be comfortably used for many other things. I understand that that could feel luxurious to many. But to me it's disconcerting and seems disproportionate to the house. It's not a mansion, after all. But this is very individual.
The kitchen is interesting. I think it works visually in itself, but it has no relationship to the parlor it's right next to which retains all (most) of the original detail.
Posted by: Nomi at April 10, 2009 12:41 AM
We've been looking for a house in Fort Greene and I loved this house like none other. We looked at it twice. No staging - the owners have a stunning furniture / art collection. It seemed easy to build a deck off the kitchen and rent out the ground floor (you would lose your laundry room / basement access, though it wouldn't be hard to put a washer dryer on the fourth floor in the huge linen closet). I loved the separate bath / WORKING fireplace / chaise area of the master bath, and they used a really cool scandinavian style (light woods, clean lines) to build out the master closet area which I thought was stunning.
Speaking frankly, we put at bid in around $1.9M and they didn't counter, went up to $2.0M and the broker told me they had a multiple bids highter than ours and one close to asking, and did not counter our offer. I was, honestly, shocked. Presumably they are going into contact now, if what the broker said was true.
I'm licking my wounds in my rental...
Posted by: Gravy at April 10, 2009 10:55 AM
Gravy, that is fascinating. Thank you for posting. I'm so sorry you didn't get the house.
I would love to know more. For example, how does the kitchen look in person? What about the many doors with no trim around them? Does it look really high end and how did they make it look so high end? Usually this approach looks cheap, but at least in these photos, it looks great. Thank you so much!
Posted by: mopar at April 10, 2009 11:39 AM
Yes, would like to hear too. ^^^
Posted by: Nomi at April 10, 2009 12:26 PM
Okay, since no one is likely to revisit this thread now that it's late the next day, here goes:
I was friends with the people who owned the house (or rather, the sister M who lived on the ground floor) for years. M's brother was the actual owner. I am also friends with the people next door who lived there for decades and sold during this last boom (open house on Sunday, accepted offer on Tuesday).
If memory serves me right, the house in question sold for 1.6 maybe...I'm not internet savvy or care enough to go hunting through City records...I'm kind of surprised some of the young people haven't already...no...it probably sold for less than 1.6 because it has sold before the next door house sold and was already in renovation.
I have to say, I have been depressed by the further gentrification of this house and the way the current owners have interacted with neighbors. It's a bit too suburban/Manhattan big apartment building for my taste...not very receptive (my impression) with the street...very much closed behind doors...but what are you going to do?
So, they did a pretty heavy-duty renovation...yes, there is a lot of drywall...and they cut those extra doorways into the parlor floor...I'm not exactly sure why...but yes, they look like mod with no door casings.
I really don't like what they did with the yard I must say. M used to have a large pergola/arbor over a large part of the terrace with a huge grapevine over it. The grapes were gorgeous and delicious. Maybe it wasn't to everyone's taste but it did give a lot of shade during hot summer days.
The current owners put in quite a bit of expensive slate capping, sod, boring shrubs and rather ugly white globes around the slate bench in the back. The globe remind me of what should be on a lampost from the 70s in an institutional setting.
Anyway, it was an terribly symmetrical arrangement and I found it sterile. I haven't seen the yard for ages so maybe the plants have grown and take the edge off.
I frankly find the chandelier/fixures on the parlor floor to be ugly...not my taste...and I felt they were fine for the homeowner but when I saw this house back on the market I immediately thought those quirky fixtures would not appeal to everyone. I assume they come with the house and cost a fortune...but they will probably be taken out by the next occupant.
One pet peeve: the current owner's garbage can solution and front railing issue: I'm not sure if they did this with Landmarks approval but I kind of doubt it. They stuck a (admittedly nonpermanent) mod, wood slat garbage can structure that is too, too high. It has a planter section on top that I don't find is very successful visually. In fact, I'm a little on the petite (short) side so I can't even see the top easily.
Anyway, they had the regular railing in place for a year or so after the wooden structure went in and then, one day, removed it. A ghost image of the railing was left in the wood at the time. It persisted for a long time and is now probably weathered away.
The house is nice. Everyone should realize that they spent a ton on the renovation so they need to stick to their asking price. I really, really doubt the asking price is a dream price set so that a potential buyer can offer 10 or 20% less.
I am a bit sad for them that they have chosen "this time" to sell...they must be relocating.
Realize that the wooden house across the street which has got to be a lot smaller inside (only three real floors) sold for a lot this past year, I believe, after it was clear "we were in a mess". It's a two family. The buyers paid a lot (Jonathan, I think, posted the sale price, no?) and have been doing A LOT of renovation.
The house on this post is, yes, turn-key for those whose taste it appeals to. I'm sure any buyer would not have to pour another $250K or more into it as they do all around Fort Greene. So the asking price makes sense.
Keep us posted on when it sells.
Thanks!
BGlady
Posted by: BrooklynGreene at April 10, 2009 2:57 PM

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