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June 25, 2009

House of the Day: 460 2nd Street

460-2nd-Street-0609.jpg
This two-family brownstone at 460 2nd Street is a looker, with lots of original woodwork prominently on display. The configuration—owner's triplex over garden rental—is also likely to appeal to the broadest swath of potential buyers. At 18 feet wide, however, the house is a tad on the narrow side, at least for one asking $2,380,000. It'll be interesting to see where this ends up selling.
460 2nd Street [Brown Harris Stevens] GMAP P*Shark





Posted by Brownstoner at 1:17 PM | Comments (22)
Categories: HOTD, Park Slope

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Comments

We need some diversification on HOTD's. Theyre always in Slope or BK Heights ish areas! :-)

Posted by: guikazoid at June 25, 2009 1:26 PM

3,300 sq. ft.

@ $500psf = $1,650,000
@ $600psf = $1,980,000

Are these psf prices really too high??

Posted by: daveinbedstuy at June 25, 2009 1:28 PM

I would never pay over $2 million to live across the street from a school playground. No matter how "awesome" the famous school might be. The constant buzz of the kids would drive me crazy. I work from home.

More important, the house right NEXT DOOR, 458 2nd Street, is also on the market. It would have been nice to do a post about both houses.

http://corcoran.com/property/listing.aspx?Region=NYC&ListingID=1545546&ohDat=6/28/2009%2012:00:00%20AM;


Posted by: bk14 at June 25, 2009 1:29 PM

What's up with BHS. Lately they're just posting 3 pictures for 2million+ homes.

Posted by: DeLepp at June 25, 2009 1:37 PM

Agree, DeLepp.

Thanks for that. bk14. I'd love to walk through the two of them and really see the differences. I think I'm liking the kitchen layout of yous better. But, is that one bathroom not built out yet????

Posted by: daveinbedstuy at June 25, 2009 1:39 PM

Some people see a school nearby as a liability, some see it as an asset.

I'm in the asset camp:

1) No nosy neighbors looking into your front windows

2) Ability to use school grounds at off-times (shoot hoops, play catch, etc.)

3) Cleaned and maintained by staff, protected (less of a chance of drug dealers, loud bars opening)

4) Loud at certain times (morning drop-off, lunch, end of schooldays) but super quite all summer

It's really not an issue unless you work from home. And even then it's only noisy a few times a day.

Posted by: Mr Joist at June 25, 2009 1:41 PM

I saw the other house on this block, on market with Corcoran. The owner of that house bought it for just over $1mil a few short years ago and did not do that much work. They evidently put in a new kitchen, which is kind of pretty on the surface but not very practical IMHO since there is very little cabinet space. Also no closet on parlor floor. And yes, an entire bathroom needs to be built out. Plus tenant's unit looks like it has not been touched in many years and is in need of work.

Posted by: Miss Muffett at June 25, 2009 1:50 PM

Mr Joist
good points! - I never thought of it like that.

Posted by: gemini10 at June 25, 2009 1:51 PM

Not a fan of living to close to schools either.
Too far to walk to the liquor store.

Posted by: jasetheace at June 25, 2009 1:52 PM

Mr Joist, I agree with everything you've said except the "less chance of drug dealers" part. Depends on the neighborhood on how its looked upon. For this house, a little pot here and there is "acceptable", in other places... forget about it. :)

Posted by: guikazoid at June 25, 2009 1:52 PM

Kudos, let's have soft-drug dealing dispensaries available for the people! (I'm serious)They would be qieter than bars! And better than a liquor store! I would take an ounce of sour diesel over a bottle of Grey Goose any day!

Posted by: Joe from Brooklyn at June 25, 2009 2:56 PM

I'm with you, Joe.

Nice house, good location...not enough pictures.

Posted by: 11217 at June 25, 2009 2:59 PM

Please tell me why a "typical" brownstone, like this one, in Park Slope is worth over $2 Mil???? School or no school. I saw this place and it is so so at best. Knock $500,000 off the price and you are getting close to it's actual value.

Posted by: mopey dick at June 25, 2009 3:06 PM

Strangely terrible listing. 3 photos and no mention of PS 321, which is its biggest selling point. I think it'll get over 2 million just for 321, unless the kitchen and baths are terrible, as the lack of photos clearly indicates.

Posted by: FatLenny at June 25, 2009 3:40 PM

Well, the kitchen IS one of the three pictures.

Posted by: Nomi at June 25, 2009 6:00 PM

well, will all the complaints about the lack of pictures, folks sure are curious and will just have to go have a look :)

Posted by: raphael9 at June 25, 2009 6:06 PM

Anyone know when and for how much this house last traded? I gotta say, I was pretty floored to find out the house next door sold for just over a million a few years ago (and it was not in such different condition than it is now). Shows the nuttiness of the skyrocketing prices of last few years and why prices are vulnerable to fall steeply now...

Posted by: Miss Muffett at June 25, 2009 6:47 PM

Don't know Miss Muffett. But you're right that 458 2nd Street traded for $1,065,000 in 2003. Apparently, the owners added a new kitchen and painted the woodwork white (!) I doubt much more was done to it. They didn't even bother to add a bathroom on the second floor--it's an empty room with an old sink. When I visited the house, there was a handmade sign that read "Design your perfect bathroom." The garden apartment has not been touched in many, many years. Definitely a perfect example of bubble mentality. Now it's going to be hard for sellers, and even buyers, to readjust. People need to accept that $2 million is a shitload of money. Pardon my French. So long as comps keep supporting these prices, there's nothing you can do... except save and wait.

Posted by: bk14 at June 25, 2009 7:18 PM


Miss Muffett,

if this house were offered for $279,000 you'd have a problem with it

Posted by: bklyn1999 at June 25, 2009 10:13 PM

I realize people don't buy houses for the rental units, but the one here seems deeply flawed. Look at the bathroom squeezed into the side of the bedroom. It looks barely usable. You have to climb into the end of the tub. Just appalling.

Posted by: mopar at June 25, 2009 11:23 PM

Price already reduced by $100K today--now asking $2,280,000.

Posted by: bk14 at June 26, 2009 2:29 PM

Mr Joist,

While I admire your positive attitude towards living across from a school, and several of your points are right, there are some flaws. In the case of 321, the larger schoolyard that this property faces stays open until sunset I believe, and I don't recall if the schoolyard is left open for recreation on weekends. The other schoolyard, the playground, is open all the time, and hosts the Flea Market on weekends. My next point is that while students are in school there is probably no drug issues, the 321 schoolyard is a favorite place for Slope teenagers to congregate at night and smoke and drink.

As for the property itself, its a nice triplex, the parlor floor looks nice, as always, more pictures are appreciated. But from the listing, its nothing special, as far as we can tell, its the fact that you're steps from 7th Avenue and in the 321 district. Granted, I'm of the opinion that 5th Avenue is the now better commercial strip, for families 7th probably still has the edge.

The rental unit is generous everywhere but the bathroom and that joke of a second bedroom. Most garden units that I've seen are one bedrooms, so I wouldn't be surprised if the new owner replaced the second bedroom with a more roomy bathroom (there's a half bath one floor up, so it should have the necessary plumbing).

Posted by: thetycoon at June 26, 2009 2:49 PM

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