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April 24, 2009

Open House Picks

house Bedford Stuyvesant
208 Lexington Avenue
Corcoran
Saturday 12-1:30
$1,249,000
GMAP P*Shark

house Fort Greene
180 Adelphi Street
Craigslist
Sunday 1-3:30
$1,240,000
GMAP P*Shark

house West Midwood
722 Argyle Road
Mary Kay Gallagher
Sunday 2-4
$935,000
GMAP P*Shark

house Bay Ridge
260 84th Street
Jabour Realty
Sunday 1-3
$929,000
GMAP P*Shark

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Comments

I think Mary Kay usually prices her stuff in the zone of reality, but this one seems too high. Owners, I'd guess.

Posted by: Ringo at April 24, 2009 1:19 PM

I sorta like the Bedstuy kitchen, but the floor looks boring and that vent hood seems extraterrestrial. And, again, with some of the houses, no photos, no floorplan. This gets old.

Posted by: InsertSnappyNameHere at April 24, 2009 1:21 PM

that Midwood price needs to come down!!!!
what's up with the Bayridge listing - just 1 pic - and is it the entire blue house or just the light blue part of the house that's for sale.....
confusing

Posted by: gemini10 at April 24, 2009 1:25 PM

Mary Kay always gives realistic advice to her sellers, but some have their own ideas... I would think the West Midwood owner falls into this camp.

$799k in this market. It needs loads of cosmetics, and who knows what it's like structurally. Plus, not much curb appeal to tempt a buyer, either.

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

Where is Brooklyn's Lexington Avenue?
I never heard of it. How interesting. Is it a nice enough street that a 3-story brownstone can sell for 1.25 million?

Posted by: mcKenzie at April 24, 2009 1:31 PM

dude, didn't I just say that? I'll spell it out next time. NUTSY OWNERS, I'd guess

Posted by: Ringo at April 24, 2009 1:33 PM

Everything seems sooooo overpriced....except maybe the Adelphi Street House.

Posted by: bayridgegirl at April 24, 2009 1:49 PM

That price is nutso for Lexington Ave....$850k

Posted by: daveinbedstuy at April 24, 2009 1:49 PM

I'm not a big fan of the northern tip of Bed Stuy, but I guess you're closer to the restaurants on Myrtle and some of the E. Williamsburg hot spots. It looks like they did a nice job on the renovation and they're banking on someone appreciating it enough to shell out that kind of dough. Good luck to them. At least it's not cookie cutter.

Posted by: rh at April 24, 2009 1:51 PM

I agree with DIBS...maybe even less than $850K though, it deserves a discount since it's only near the G train.

Posted by: StuyIvy at April 24, 2009 1:54 PM

um, the FG house is 13.75ft wide. Who wants to pay over a million dollars to live in a hallway?

Posted by: tippingpoint at April 24, 2009 1:59 PM

Both Bed Stuy and Ft greene buldings are painted. Any brownstone approaching $1MM needs to have the facade done properly.

Posted by: daveinbedstuy at April 24, 2009 2:00 PM

i'm liking the adelphi house -- it looks comfortable, and that's a nice block. price seems reasonable.

Posted by: z at April 24, 2009 2:02 PM

Ft Greene house - $1mm plus asking price and its main listing is on Craigslist?!
Argyle house looks nice from the outside but agree that the asking price should start with a 7.

Posted by: etson at April 24, 2009 2:05 PM

Good point about living in a hallway. I like narrow houses but they should be inexpensive. A million dollars for a hallway during a really bad financial downturn is not a real attractive deal.

Posted by: mcKenzie at April 24, 2009 2:06 PM

where are the desperate sellers with desperate prices? not here on this batch.

if anything is to your liking, make a low ball offer. doesn't cost anything to do that.

Posted by: more4less at April 24, 2009 2:10 PM

1.25 for Bed Stuy? I'm sorry but is Babs Corcoran pricing this one personaly to justify her purchase. I like Bed Stuy and I think it has a lot of potential but it's not a million dollar neighborhood yet.

Nice renovation, I like that lighting fixture/sculpture over the dining table but I just can't see that house going for 1.25. It's not even 4 stories tall.

If it was 4 stories and had the fascade done correctly then maybe 980k. MAYBE.

Posted by: Adam Dahill at April 24, 2009 2:18 PM

Adam, Babs acrually sold the brokerage business and isn't part of it anymore. The two limestones that sold last year on the 400 block of Stuyvesant both went for about $1.1MM. This house isn't worth anythin near that.

Posted by: daveinbedstuy at April 24, 2009 2:26 PM

I'd be afraid to set foot in the Bed Stuy kitchen for fear I'd be beamed via that vent hood into another universe, one where this house would fetch $1.25 million.

Posted by: mopar at April 24, 2009 2:29 PM

The Bed-Stuy home was covered in the Times awhile back. I remember the couple's two dogs:

http://www.nytimes.com/2005/10/23/realestate/23habi.html?scp=3&sq=bed-stuy%20dogs%20architect&st=cse

Posted by: BSB at April 24, 2009 2:38 PM

BSB is me, Petra (thechangeling)

I hate anonymous comments, and forgot to sign my name! Can't log in under the changeling! :(

Posted by: BSB at April 24, 2009 2:41 PM

Interesting article. I hope they aren't selling because they broke up.

Posted by: mopar at April 24, 2009 2:46 PM

It's amazing they were able to preserve as much detail as they did. Check out the NYT slideshow of the before photos -- the place was a complete wreck. Sounds like they bought it sight unseen at auction. Then they had to convert from SRO.

Posted by: mopar at April 24, 2009 2:50 PM

I would take yesterday's HOTD over any of these in a millisecond.

Posted by: dirty_hipster at April 24, 2009 2:52 PM

Per the NY Times article, the Bed Stuy house was purchased for 376K in 2004 and they renovated with another 300K -- so they're looking to make a 573K profit?! Seems way out of line with the current economy.

Nice PR article for Bed Stuy, a nabe we are considering.

Posted by: pop at April 24, 2009 2:54 PM

Yeah I am not feeling that Argyle Road house, especially when the same broker has this much nicer one across the street at an asking price just 6% higher.

http://www.marykayg.com/html/0540.html

Posted by: Sparafucile at April 24, 2009 3:01 PM

the bed-stuy house is way over priced. adam - several homes in bed-stuy have sold for 1M, like DIBS pointed out.

read the article, looked at the slide show - what the hell does a photo of MacDonough btw lewis & stuy have to do with this house which is miles away!?

Posted by: bkny at April 24, 2009 3:57 PM

The BedStuy house looks great inside, but with the yard and location, the price is a stretch. No surprise from Corcoran.

The price on the Adelphi property is good if it really doesn't need any work. It may not based on the NYTimes photos and what appears to be a FSBO website. http://realestate.nytimes.com/sales/detail/253-NS90414875/180-Adelphi-Street-Brooklyn-NY-11205.

The Midwood property is going to go for less. Nearly a million and you are expected to give up the "TLC" . . . in Midwood?!

Posted by: LostinBedStuy at April 24, 2009 4:25 PM

That Midwood listing comes up as "West Midwood Community Association" in Google, which is interesting. The house looks like it has potential but the price is insane for "needs TLC" almost all the way down by Avenue H. The other Argyle Road listing on MKG is indeed much nicer but has been for sale for at least six months. Although perhaps Architerrorist is right and it's the sellers who aren't in tune with reality.

Posted by: gidgetgoesbrooklyn at April 24, 2009 5:00 PM

Could the Adelphi house really get $2800 a month for a garden rental?

Posted by: trudylou at April 24, 2009 5:01 PM

trudylou, $2800 for half a brownstone 2 blocks from Fort Greene Park is realistic. I have a friend who is paying $3000 for a 2-bedroom garden duplex on Vanderbilt, and her yard is not nearly as attractive as this one. Check out the pics on www.180Adelphi.com, the FSBO website. The more I see of this property, the more I like it. This assumes that the garden apt is as nice as the rooms in the photos. Hard to tell if any of the photos are from the lower apartment. . . .

Posted by: LostinBedStuy at April 24, 2009 6:26 PM

i have no idea about the price - i guess it depends on how it's set up and whether it feels small or not - but i like 180 adelphi too. decent light, move-in condition (not luxury, but perfectly nice) and sweet garden is a pretty tempting package.

Posted by: i disagree at April 24, 2009 6:35 PM

I like that area of Bed Stuy, but, uh geez, that's a lot.

After reading the article, I too am worried about the couple breaking up. And the dogs. If they did, what happens to the dogs? Will no one think of them?

Posted by: Heather at April 24, 2009 8:42 PM

That is a very high price for Bed-Stuy... You know back in the day a L train ran along Lexington I wish there still was a train line in that area. The Corcoran house that went for over a million is in The Stuyvesant Heights Landmarked district on the other side of town from this house. It seems like Northern Bed-Stuy has its own vibe and seems more like Williamsburg 1999.

Posted by: Amzi Hill at April 24, 2009 9:59 PM

The FG brownstone looks like a great investment property. You basically get two vacant rentable duplex apartments for just over $600K each. LostinBedStuy is right that you could get $3000/month on this block for a 2 bedroom plus attractive garden--or a 3 bedroom. If you live in one and rent the other, you would come out even better. This is a very attractive property.

It will be interesting to see if other properties entering the market this season start to lower prices to this level.

Posted by: Jumbo at April 25, 2009 8:49 AM

Just to be clear: this is a FOUR story brownstone, as noted in the first sentence of the description. The fourth floor is a humpback, hidden from the street, but very much real in the house, containing a large bedroom and spectacular bath with soaking tub. And some would even assert this property is in Clinton Hill, admittedly a stretch, but we all know it's only a matter of time......

Posted by: thisnthat at April 25, 2009 9:36 AM

Yuck. Midwood is an old rundown money pit that should be 200K tops, the 2 family in Bayridge looks an awful lot like Trenton, or southern NJ houses for 1/10 the price. The Bedsuty houses - Nutso pricing. We need a good Vegas or Miami style cleansing so people who make a normal living can afford a house.

Posted by: williamsburgguy at April 25, 2009 12:27 PM

I'm afraid there's some kind of misunderstanding on the Lex listing (love the pimped out MC Hammer renovation though). Homes are worth 3X income, not 3X peak comps. Well, there is a feature that would make it go for well over ask...

...mount-on-wheels.

Whew! Juuuust accessible to the G Train. That was close.

"Where is Brooklyn's Lexington Avenue? I never heard of it."

ROTFLMMFAO! Nothing like the Manhattan version. Well, maybe way uptown.

***Bid half off peak comps***

Posted by: Brownstones Half Off at April 25, 2009 12:45 PM

I know that a few houses went for over 1 million in Bed Stuy. They all were in top condition and were full size with tons of detail inside and outside. I'm saying that this isn't one of the them humpback or not.

I also know that Babs left corcoran. I was making a comment on corcoran pricing and her purchase of a brownstone for over 1 million just as the market turned. It was my attmept on being snarky, I guess I'll just stick to make comments about mortgages. :)

Posted by: Adam Dahill at April 26, 2009 10:12 AM

West Midwood, is part of Flatbush - Victorian Flatbush - not Midwood. South Midwood and Midwood Park are also part of Victorian Flatbush, and not Midwood proper. Different neighborhoods, different pros, differnt cons, entirely different vibes.

Posted by: Architerrorist at April 27, 2009 10:28 AM

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April 24, 2009

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