« Condo of the Day: 70 Washington Street, #9G Streetlevel: Checkers Signage Goes Up »

May 7, 2009

House of the Day: 100 St. Mark's Avenue

100-st-marks-avenue-0509.jpg
This brownstone at 100 St. Mark's Avenue looks like one of the more fairly-priced deals we've seen recently. The four-story house is divided into an upper owner's triplex and ground-floor rental (which currently fetches $1,500). Other than the choice of kitchen cabinets, we're really liking the original charm of this place. As referenced above, the price tag of $1,575,000 looks quite reasonable to us. Do you agree?
100 St. Mark's Avenue [Warren Lewis] GMAP P*Shark





Posted by Brownstoner at 1:17 PM | Comments (35)
Categories: HOTD, Prospect Heights

Trackback Pings

TrackBack URL for this entry:
http://www.brownstoner.com/mte/mt-tb.cgi/9635

Comments

I lived on this block for 6 years and the location is great. Your close to the 2,3 and Q not far from Atlantic terminal and Prospect Park is also close. The price is very nice. I think this is a great deal for the money.

Posted by: Amzi Hill at May 7, 2009 1:28 PM

I looked at this house in 1997 or 98 (its all a blur) when it was for sale for 400K (give or take). The floorplan has been changed a little, but it looks much the same. The big con was the wee yard--really just a triangluar patio. A brownstone without a big backyard is not a brownstone.

Posted by: shillstoner at May 7, 2009 1:31 PM

What is with the odd angle of the backyard? Is there undeveloped space behind it, squaring off the lot? Or is the lot just on a weird angle and one of the neighboring buildings owns the rest of the square?

Posted by: christopher at May 7, 2009 1:34 PM

this is a great deal for the size and location, even in this market.

a lot of people are reflexively putting numbers in the widget at some percentage below asking without paying attention to whether the asking price is fair (sometimes it is -- hard to believe, i know!).

Posted by: z at May 7, 2009 1:38 PM

Lovely place - and a very nice stretch of St. Mark's, I walk by it all the time. Seems very much worth the price, although I would be wary of the (strong) possibility of having a basketball stadium practically on top of you within five years.

Posted by: collin85 at May 7, 2009 1:41 PM

I know there's going to be nitpickers, but this is definitely a good deal. . .
we all complain about the crazy prices every day -- this will definitely get asking price, even in this market.

Posted by: ontheparkway at May 7, 2009 1:41 PM

Looks like the backyard is shared between the owner and the tenant.

Or at least the tenant's kitchen looks out onto the backyard.

Not sure I would like that much.

The location is nice.

I find the pool table amusing. It would be nice to have so much space that I think "meh, I don't know what to put here... how about a pool table? Yeah!".

I don't know what to say about prices of anything anymore. Tell me if the S&P will be at 1100 or 600 in 6 months and then I'll have a better idea.

Posted by: northsloperenter at May 7, 2009 1:42 PM

I like it, If those sob's would loan me money, I would so buy it at the current price.

but thanks to alot of bad loans. guys like me can't get squat. even a good record of paying previous to purchases.

Posted by: armchairwarrior at May 7, 2009 1:45 PM

Do any of you even look at the dimensions for this house before declaring it a "good deal"? The lot is 16.67x45!! NO YARD, narrow house. This house is so overpriced.

The 11th Street Warren Lewis listing puts this "deal" to shame.

Posted by: bk14 at May 7, 2009 1:47 PM

I'm with bk14 - no yard (or teeny one)/narrow house = way overpriced.

Posted by: Miss Muffett at May 7, 2009 1:51 PM

REALLY like this house
love this block a lot - good people, safe, pretty
my husband rented here for years recently before we moved to south slope
I agree with previous posters - the price is fair for this nabe and house

Posted by: gemini10 at May 7, 2009 1:58 PM

I really like this neighborhood NOW, but this house is approx. 2-3 blocks from the AY site, so I believe this warrants a bit of a discount.

Posted by: StuyIvy at May 7, 2009 2:02 PM

StuyIvy...does it warrant that discount because AY will remain a hole in the ground for some time or because some day it may actually get built???? :)

Posted by: daveinbedstuy at May 7, 2009 2:08 PM

Great location, I love this block.

The tiny yard, however, is a dealbreaker.

Posted by: SnarkSlope at May 7, 2009 2:11 PM

"$1,575,000 looks quite reasonable to us. Do you agree?"

Absolutely not. Its comps will get "L"'d to $1M if not "worse". $575K vaporized. Poof!

***Bid half off peak comps***

Posted by: Brownstones Half Off at May 7, 2009 2:13 PM

It's narrow house, the parlor is only ten feet wide, but it is nice. The rear yardlet is a minus. And although this may be a perfectly nice street to rent on, I don't know if it really is nice enough to buy at this price point at this time. I don't think so. And the points made about the AY are actually valid, this is fairly close. The house is nice but not perfect and the location is nice but not perfect so 1.57 million seems steep. the price needs a haircut before the house sells.

Posted by: sam at May 7, 2009 2:13 PM

i like it. i think the narrowness and the small yard have been priced in, assuming the sellers are savvy enough to know that they're probably going to have to give ~10% discount in this environment.

Posted by: i disagree at May 7, 2009 2:20 PM

Offer $995,000.

Posted by: SnarkSlope at May 7, 2009 2:25 PM

"$1,575,000 looks quite reasonable to us. Do you agree?"

You pay over a million to live in Brooklyn with a tenant and no backyard. I would agree perhaps for $600K and I *have* money and job.

Posted by: MaplewoodGuy at May 7, 2009 2:45 PM

The price seems reasonable but one can always negotiate, the interiors look awesome.
[url=http://www.legalhelpers.com]bankruptcy[/url]
[url=http://www.2hugenutrition.com/home.cfm]halodrol[/url]

Posted by: scenicint at May 7, 2009 2:46 PM

Sam,

Yardlet! I love it.

Very cute house, seemingly reasonable price, but who knows in this market.

Posted by: Nokilissa at May 7, 2009 2:57 PM

scenicint -- do you want to go bankrupt, bulk up, or both?

Posted by: northsloperenter at May 7, 2009 2:57 PM

am not saying this is not priced well...But it is priced at approx $627 sq ft (and I'm being generous using 4 story 16 1/2 x 38' - since top floor doesn't really look full ceiling ht).
and little backyard space and probably no extra FAR - and what school is zoned for?

Posted by: Petebklyn at May 7, 2009 3:12 PM

so the ground floor apt - has no living/dining just a bed, bath & kitchen? am i missing something?

overpriced - narrow & no yard. 950k

Posted by: bkny at May 7, 2009 3:23 PM

I agree that this is in the 990 to 1.1 area. Things are bad out there right now. Even really good stuff isn't selling.

Posted by: sam at May 7, 2009 3:32 PM

Not my nabe so can't guess if price is right. But I'd love to see a blind experiment with the Brownstoner assessment tool: take the same house, show it priced at $1.5M to one group and $1.8M to another.

Do the two groups assess it around the same price, or do they both just knock X% off whatever the price is?

Reason I wonder is this is relevant to the question: is it really a good idea to "price it to move"? Or will people simply assume that anything, at any price, is roughly 25% too high these days, and bid accordingly? Logic tells me price-to-move makes sense but logic doesn't always hold.

Posted by: basementalist at May 7, 2009 3:57 PM

I think everyone expects a discount right now, and you have to convince them its been "priced to move." Look at the number of reductions that have been taken on existing listings. There is a "I can buy cheap now" mentality out there. But, I still think this house is well priced. The person who gets it for $1,380,000 has, in my opinion, done pretty well.

Posted by: homey at May 7, 2009 4:13 PM

Prop shark has it as only two stories. I wonder what the true sq footage. It ain't getting $637, though I do love the location. Good starter home for a family. If the super jumbo loan market weren't so crappy, you could make this affordable.

Posted by: FatLenny at May 7, 2009 4:19 PM

The lack of backyard really bothers me. The house has a lovely face and nice details, but no backyard?
I think if it were on the Park Slope side with good public schools, it would well priced.

Posted by: Maly at May 7, 2009 4:22 PM

The 45' lot depth is a total deal breaker. The 16.67' width does not help. Ridiculously overpriced.

Posted by: Suburbandude at May 7, 2009 4:41 PM

I think y'all would be surprised how little some brownstone owners care about the size of this backyard. Over the past two years, I have not seen the families around my house out in their backyards even once. Once in a while someone will come out to cut the grass or do a little gardening. But it's been shocking to me how people with fantastic outdoor space just ignore it. I frequently find myself scheming to annex their yards without their knowledge.

That said, this is still a narrow little house, you stil have a tenant, and you're still just a couple blocks from whatever circle of hell the AY project ends up in.

Posted by: geekspice at May 7, 2009 4:50 PM

Very familiar with this location. It's close to Flatbush, hence traffic noise is inevitable. I'd also worry that in the back of the house the noise and smells from the restaurants on Flatbush would be an issue. Overall, it would need some $$ spent to upgrade it. Those are the issues, not AY.

Posted by: grand army at May 7, 2009 5:51 PM

I am curious: when the "average reader appraisals" have been going long enough that we can see some data about actual sales numbers versus our bonehead estimates, how accurate are we?

Those numbers almost always look low to me relative to comps. I'm not energetic enough to really check out that impression, because I'm sitting tight at the moment, anyway, but I'll be interested to see.

Posted by: Isty at May 7, 2009 11:00 PM

I don't care for the new floors in the parlor and garden floors either. Otherwise, a pretty house.

Posted by: mopar at May 7, 2009 11:15 PM

All those floors are original and, I'm sure that's enough backyard for many people.

Posted by: daveinbedstuy at May 8, 2009 8:13 AM

Post a comment

Please be patient while your comment is published. It may take a moment.

Latest Restaurant Additions