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April 15, 2009

House of the Day: 445 Warren Street

This row of three-story townhouses on Warren Street between Bond and Nevins in Boerum Hill has a lot of charm despite its proximity to the Gowanus Houses. Unfortunately for this particular listing at 445 Warren Street, though, the interior appears to have no charm at all. (It also doesn't appear to have a broker who's making much of an effort. Horrendous photos!) That combo is going to make it hard to fetch the asking price of (cue Doctor Evil) $1,000,000.
445 Warren Street [Century21] GMAP P*Shark

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Ok I'll buy it, but only if you throw in that bottle oh shaving cream

personally - I would offer $500K to show that this house needs ALOT of work to restore any charm that might be hiding
but I think it will probably sell for $650K

Posted by: gemini10 at April 15, 2009 1:27 PM

Does this widget really work? I appraised this house at $500K and that value does not even show up on the above graph. This is the third time it's happened with one of my appraisals.

Posted by: BKLYN_73 at April 15, 2009 1:27 PM

charm can be over-rated. Some people would not know it if it bit them in the rearside and most people live like slobs anyway. Price is the real charm and this house would be a good deal at $800,000 or so. The location is not great due to the proximity of the projects, but that's the reason for the relatively low price. And if you have nothing of value in the house, like the curent owners, then you need not worry about burglary.

Posted by: sam at April 15, 2009 1:27 PM

wow the phantom overestimator is slow on this one. 12 estimates and none 40% above ask yet...

Posted by: etson at April 15, 2009 1:29 PM

spoke to soon. what took you so long?

Posted by: etson at April 15, 2009 1:34 PM

The widget is rigged. it allows you to wildly overprice but it has a tight limit on low prices.

Posted by: sam at April 15, 2009 1:37 PM

Mr. B...why don't you just block the overestimator masturbator if he's the same asshat all the time!!!

Posted by: daveinbedstuy at April 15, 2009 1:37 PM

so how does a 3-story only have 1800 sf? Is it only 30 ft deep or something?

Posted by: Frederick Law Homestead at April 15, 2009 1:38 PM

bklyn 73, you're bidding 50% off. think widget only allows you to estimate at 40% over.under asking. the range is on the axis

Posted by: Ringo at April 15, 2009 1:38 PM

Is there anyone at Century 21 with at least half a brain??????

Posted by: daveinbedstuy at April 15, 2009 1:39 PM

I think bidding 40% over is nuts, but there are far far more people bidding 40% under so maybe everyone should just chill.

Posted by: Ringo at April 15, 2009 1:39 PM

I'm usually on higher end on estimates but here about average.
Have been a couple houses on this block for sale and commented on this site in past couple years. One larger house sold for approx $1.1 last year.
If sells for same per sq ft price then 750-800k range for this one.
Also - not in best shape and looks to be in some stage of foreclosure/preforclosure. They have mortgage of over 700K on this prop.
Biggest mistake on trying to get better price is using Century 21.

Posted by: Petebklyn at April 15, 2009 1:40 PM

Cannot judge this house at all. Pictures are useless, even to suggest "potential," and there's no floor plan.

Posted by: Nomi at April 15, 2009 1:43 PM

At the risk of pissing off whoever got pissed off at me the other day for my comment about the Gowanus houses (didn't know that is what they are called), absolutely no frigging way in hell you could even pay me to live here. My appraisal of this property? Zero. No dollars. I've had too many sketchy and threatening experiences near this place. Last time I was there a bunch of guys yelled "hey, there's a white guy! Let's go beat him up!" They didn't, but the fact that this is how they chose to amuse themselves speaks volumes. Later that same day there was a shooting at the projects about 500 feet from where I was at the time. Absolutely no frigging way this is worth a million dollars. Not even close. I appraised this at $350k just because I assume the thingie won't accept zero as an appraisal.

We can talk about all of the social history and unfairness that have led to the projects being dangerous and whatever else people learned as college freshmen (much of which I may actually agree with), but if someone is asking for my money to buy this place it's a pretty simple answer: no.

The social justice squad can now fire at will. I can take it.

Posted by: lechacal at April 15, 2009 1:45 PM

Man oh man you couldn't make this place look more horrible in pictures if you tried. Seller can't possibly imagine that those pictures will help the sales process. Wonder what goes through someone's mind when the select a broker like Century 21 to sell their house. Anyway, proximity to the projects is always an over-rated factor in these discussions (sorry to disagree Lechacal). One can find examples of threatening behavior all over this city. That being said, this is just a small and unattractive house in an only marginally ok location. 600 would be a fair price.

Posted by: wasder at April 15, 2009 1:49 PM

No matter what your supposed experience was or where we could pay you to live if we even cared if you live - appraising is based on what others have paid and are willing to pay.
Don't be so self-involved.

Posted by: Petebklyn at April 15, 2009 1:49 PM

This is a crummy house in a crummy location. Before this ridiculous bubble, it would have been valued at around $300-400K. Today, it should not cost more than $500K. The widget should record my appraisal!

Posted by: BKLYN_73 at April 15, 2009 1:50 PM

Rare is a location as bad as this. The street is one block long here and dead ends into projects at both ends. No through traffic to at least discourage bad things. Worst block from the BQE to Prospect Park.

The 433 Warren condo is on the same block.

Posted by: asdf at April 15, 2009 1:51 PM

So... tell me if I'm getting this... Century 21 is trying to earn $30,000 or more by selling this house. This large sum of money is, I thought, meant to be payment for some sort of EFFORT on the part of the realtor.

This is what they think is effort?!! COME ON!

If it means spending $200 on a cleaning service to clean up the tenants apartment, isn't that the cost of doing business if you are going to earn THIRTY THOUSAND DOLLARS or more in commission?!?!?! Seriously.

If nothing else, this is thoroughly disrespectful to prospective buyers. While it is crazy to me that someone could pay $1 million for this property, what is just plain disgusting is to think someone lets their Realtor operate this way. Just sell it yourself with a lawyer -- judging by how much effort they put into "staging" the property, the realtor probably isn't bringing any other "value add" to the transaction....

Posted by: tybur6 at April 15, 2009 1:57 PM

i have to agree with lechacal and asdf. even if the safety issue is debatable, it would be a dismal and depressing experience just walking to and from your house. especially during the summer when the kids have nothing to do except get into trouble. no matter how well you renovate, and how comfy it feels inside, and how nice the neighbors might be, i'm not interested in feeling penned in on my block.

Posted by: i disagree at April 15, 2009 1:59 PM

It is true that this poor little section of Warren Street is cut off by projects on BOTH ends! Wow, that's a pretty undesirable location. Who knows what this is worth? My former estimate of 800,000 is on the high side actually.

Posted by: sam at April 15, 2009 2:00 PM

Why would anyone put pics like that up? (And this happens ALL the time on Craigslist.'

Posted by: supergirl at April 15, 2009 2:02 PM

On the bright side, you won't have to go far to buy some weed.

Posted by: mrkknox at April 15, 2009 2:03 PM

Oh, this block! In 2001, there was an equally tiny townhouse selling for about $400,000. It was a one family.

Well, say what you will, it's an inexpensive block in an expensive area. You can change the Home Depot kitchens and baths. Don't townhouses in this area that aren't sandwiched between two projects generally go for $2 million, whatever the province of their kitchens?

Posted by: mopar at April 15, 2009 2:07 PM

oh come on, weed is definitely not limited to the projects. I smell weed regularly walking down 6th Ave in the slope in the morning. I bet you can buy much better weed in north slope than at the gowanus houses (I don't smoke, just to be clear). Isn't there a delivery service in any event?

Wasder, of course not need to apologize for disagreeing - you know I respect your opinion (and we can disagree on this one).

Posted by: lechacal at April 15, 2009 2:09 PM

Those pictures are RIDICULOUS! I love the background music. I lived on Smith and Warren (closer to Court) a few years ago and safety wasn't an issue there. No sure about being so close to the Gowanus Houses, though.

Posted by: slopedoglover at April 15, 2009 2:09 PM

Any pics are better than no pics. Aren't you glad the realtor took photos of the kitchen and baths?

Posted by: mopar at April 15, 2009 2:09 PM

Lechacal -

I was being sarcastic...

I agree that it is not limited to the PJs, but it is just not as out in the open as it is there (having bought there before...)

Yes, delivery services are much better in every way to that twig ans seed crap.

Posted by: mrkknox at April 15, 2009 2:17 PM

funny, I completely failed to pick up on sarcasm on another thread today. Man, I need to clear my head.

Posted by: lechacal at April 15, 2009 2:21 PM

"Sarchasm: The gulf between the author of ironic wit and the recipient who doesn't get it."

(not original material: this is a write-in from a Wash Post reader)

Posted by: lechacal at April 15, 2009 2:24 PM

as a buyer, I love agents like C21. It's their laziness & incompetence that helps value buyers like me get some leverage in offering a low price. Suspect the seller here is equally or more lazy / incompetent in choosing & putting up with such bad or lack of svc.

I guessed 780k. at low 700k's, not a bad deal relative to what's out in the mkt. "good price" to me would be 600k

Posted by: more4less at April 15, 2009 2:33 PM

Horrid pictures and the location probably couldn't be worse. Boerum Hill has some awesome streets and areas, but this is not one of them. The house looks like a shabby little dump and would require a serious renovation to make it even livable. And once again, there's no floor plan.

I estimated 650k because I know the widget won't let me bid much lower than that, but this thing shouldn't sell for more than half a million, tops. The only way I could see this being a good investment would be if you planned to go into the slumlording business.

Posted by: gracias at April 15, 2009 2:33 PM

"Isn't there a delivery service in any event?"

Yes.

Posted by: 11217 at April 15, 2009 2:34 PM

Isn't this block next to the Wyckoff Houses? Those are the "bad" projects; Gowanus Houses are not bad at all. Next to Wyckoff is a whole other story.

Posted by: BH76 at April 15, 2009 2:40 PM

I used to walk down on these blocks around the Gowanus Houses and Wyckoff Gardens nearly every day when I was dating someone who lived down here. Lots of times it was rather late.

I NEVER felt unsafe in the slightest, actually. It felt fine. The kids hanging out never said a peep to me.

Everyone has areas which they have good or bad juju with I guess. I feel much less comfortable walking in the blocks east of Washington Avenue in Crown Heights.

Posted by: 11217 at April 15, 2009 2:45 PM

"Hey where did you grow up? In BK right next to all those $1M+ houses"

that's sure sign of a real estate bubble. Similar to the line of "when the night clean crew offers you some stock tips, stock market IS a bubble that's about to burst"

Posted by: more4less at April 15, 2009 2:46 PM

Excerpt from an earlier post:

Run, Run, Run Away!!!

Didn't anyone learn anything from the financial crisis. There are certain risks that u just can't price.

U got the ole dope peddler down the street in the ole crack house.

U got the gangstas shooting up the hood and killing the folks.

The neighbors are turning tail and heading for the high ground.

I can just hear the missus.

"Why charlie, this would be such an adorable home. The kids can walk to school everyday and if they don't get shot that day, little bobby can always stop by the crack house on the way for some dope to sooth his nerves. This is so so perfect!!!"

I'm with lechacal. I have a prejudice against having to walk a gauntlet every day. No waaay, no how, I live here.

There is a reason that so many kids from the projects grow up to live in the projects. They were too damn busy ducking bullets and walking an extra block not to get picked on by the dope peddlers to be able to do the things to get out of the hood!!!

Posted by: Hot For Brooklyn at April 15, 2009 2:48 PM

Found this nifty widget on the NYCHA website. The block is between two public housing complexes.

http://gis.nyc.gov/nycha/im/AddressMap.do

Posted by: jessibaby at April 15, 2009 2:52 PM

others for sale in area (fixer uppers/3 story) include a $699k on Hoyt (Douglass) needing serious work but wider than this and more convenient location...
and a $950k on Butler between Smith and Hoyt - also wider than this and more convenient block.
Remember this house is smallish -->17'x37' (3 floors) and I'm not even sure there is a cellar- mechanicals could be on 1st level.
maybe I'll lower estimate.

Posted by: Petebklyn at April 15, 2009 2:52 PM

Let the luv flow. Sometimes, I just luv being an instigator...

Posted by: Hot For Brooklyn at April 15, 2009 2:53 PM

Damn, whoever is responsible for those photos ought to be tarred and feathered. OK if it's a rental or some cheap apartment, but these jokers are asking $1M and put up shots like that?? Worse than amateur really...

Posted by: Park_loper at April 15, 2009 3:33 PM

I agree with Lechacal--I would never live next to the projects and this is not about race, I'm black. I laughed when a broker tried to make me feel bad for not wanting to consider a place across the street from the projects in Williamsburg. As if there was some issue of racial solidarity--I said "no my brother, and where do you live?" Needless to say, not next to the projects! No it's about socioeconomics. Bottom line.

Posted by: LP at April 15, 2009 3:33 PM

Those photos are from the Rapid Reality school of photography.

Posted by: mrkknox at April 15, 2009 3:47 PM

A 4 block radius around the Gowanus Houses + Wykoff Gardens would extend east/west from Henry St. to 6th Avenue and north/south from Union St. to Atlantic Avenue. That covers basically all of Bouerum Hill, most of Cobble Hill + good chunks of Carroll Gardens + Gowanus. Even a secction of Park Slope. Look at the crime stats for those neighborhoods and you're looking at a pretyy safe area.

Posted by: Boerum Hill at April 15, 2009 4:30 PM

and as I said before....makes no difference where you personally would live or buy(or even if you don't live)....
Question is what someone will pay for the property and evidence suggests (as there have been real estate transactions on this block and on all the others) that someone will pay more than 500K but less than 1M.

Posted by: Petebklyn at April 15, 2009 4:54 PM

I thnk people are overstaing the negatives, but this house is not going for a million.

Stoner and staff -- why is the widget an average? Shouldn't the median price be the better value?

Posted by: Boerumresident at April 15, 2009 5:00 PM

Get up, get, get, get down, Century 21 is a joke in your town.

Posted by: RaginCajun at April 15, 2009 5:26 PM

The 50% increase in 5 years is really closer to up 60% in the first three years and maybe 5% in the fourth and down 20% in the last year.

Posted by: BH76 at April 15, 2009 5:27 PM

11217: Last time I walked in this area was about five years ago, and I definitely felt a bad vibe. My wife felt it too, and we're pretty unflappable people. Maybe it was just the quick change from the rest of the area, which is pretty gentrified. Things may be different, for now.

Anyway, my issues with living next to projects (and I have, and won't again) aren't racial. But if you live next to hundreds if not thousands of poor, addicted, and/or mentally ill or unstable people -- of any race -- you're asking for trouble. Especially in the midst of (relative) plenty, as the Gowanus homes are.

I just wouldn't live in this area unless I didn't have a choice. Too bad, because this is a cute house.

Posted by: Bolder at April 15, 2009 5:58 PM

HORRIBLE LOCATION

Posted by: jdoo at April 15, 2009 7:12 PM

Lechacal we have to agree this is one dump of a house in a bad location; this block is not suitable to raise a family... well except if one doesn't have a choice like many of the residents @ the Gowanus Houses. Our honest estimate is $350k tops.

Mr B a median price on the widget can be very useful too.

Posted by: pierre de taille at April 15, 2009 8:44 PM

« Co-op of the Day: 277 Washington Avenue, #3J Getting Your Event Listed on Brownstoner.com »

April 15, 2009

House of the Day: 445 Warren Street

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