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July 27, 2009

House of the Day: 49 Dikeman Street

49-dikeman-street-0709.jpg
Given the timing of this listing at 49 Dikeman Street in Red Hook (the seller bought the two-family house in 2007 for $745,000), this has to either be a planned flip or a desperation sale. We'd bet the latter since the renovation looks nicer than your average contractor flip job; in particular, we're impressed that they've tried to preserve the original details. The kitchen, while hardly fancy, is also attractively done. Given the cost of the reno and the broker's fee, no one's getting rich on this deal even if they manage to get the asking price of $879,000, which they might, given the scarcity of attractive houses in Red Hook.
49 Dikeman Street [Betancourt] GMAP P*Shark





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Comments

aw someone left the dog there when they moved out :(

*rob*

Posted by: PitbullNYC at July 27, 2009 1:21 PM

id like to live in red hook.

Posted by: Santa at July 27, 2009 1:23 PM

Does the price include the dog?

Posted by: northsloperenter at July 27, 2009 1:24 PM

I think this house is cute and it's close enough to Van Brunt to make it attractive. My only concern though is plunking down even $750K for a house in Red Hook during this market a good idea? - maybe, just not sure

Posted by: gemini10 at July 27, 2009 1:24 PM

This sure beats those IKEA garage lofts.

Posted by: dirty_hipster at July 27, 2009 1:38 PM

not enough photo's and where's the flr plan? can't figure out pricing in Red Hook where prices are all over the place.

Posted by: more4less at July 27, 2009 1:49 PM

I'm not sure I'd go with the subjective "desperation sale." If they sold in an up-market for the same reason (relocation, divorce, etc.) and made a profit but missed out on future appreciation, would you also call that a desperation sale? Seems to me this is another example of why home ownership isn't 100% analogous to any other type of investment, notwithstanding that belief in certain quarters.

Posted by: NorthHeights at July 27, 2009 1:50 PM

No floorplan. No pictures of the apartment and what's happening with the windows to the garden floor? And the pictures are taken at night! But, this is a great Red Hook block and it looks like a nice house. And, very true -- scarcity of houses -- attractive or not -- in Red Hook. Hard to guess on price without seeing more of the house or knowing layout or sq ft, but, yes, they are not going to make anything back. Rough.

Posted by: Nomi at July 27, 2009 1:54 PM

Who thinks home ownership is 100% analogous to other types of investment?

(I think 'desperation sale" is even more desperate when the sale has to be done in a down market.)

Posted by: Nomi at July 27, 2009 1:57 PM

"I'm not sure I'd go with the subjective 'desperation sale'."

I am!

20 WIDE by 52 DEEP, hmmm...

***Bid half off peak comps***

Posted by: Brownstones Half Off at July 27, 2009 2:20 PM

They are not like other forms of investment, Nomi. In fact, real estate is far less volatile.

Posted by: daveinbedstuy at July 27, 2009 2:24 PM

Does anyone else think posters on this blog tend to value condos over houses? I.e. Dikeman Street house that's 3,000 sf ft. plus gets valued at $725K while 1,200 sf Court St. condo with $1,400 monthly taxes/maintenance gets valued at $639K?

Posted by: Boerum Hill at July 27, 2009 2:25 PM

not enuf info or pics to make judgment. no floor plan.
Broker listing says 3 story 2 family ---am I to infer that basement or garden level is part of a lower duplex? (pic doesn't appear to show a real window on lowest level).
Taxes certainly are nice and cheap.
otherwise it is just two 1000sq ft apts.

Posted by: Petebklyn at July 27, 2009 2:28 PM

Is that Moses, or one of the 'hoods other lovely specimens?

Posted by: mshook at July 27, 2009 2:29 PM

I'm not sure that's it, Boreum Hill.

I just think the posters here are full of you know what, post based on impulse and generally don't know their ass from their elbows, yet think they are the spawn of Albert Einstein.

(myself included). ;)

Posted by: 11217 at July 27, 2009 2:30 PM

Not many apartments come with a garden, which is why we wanted a house.

Posted by: mshook at July 27, 2009 2:32 PM

Yes, gardens. Gardens are needed by some. Like me. Mine is 90 miles away at Mom's house and I miss it every day.

The apt. has to be on the garden floor, no, cause don't we see the stair case as open between parlor floor and second floor?

I like this house from what I can see. I think it would help them to have better photos. Duh, I guess that's obvious, but I just don't get why people don't spend a little more effort and at least have . .. . oh, whatever. But those nighttime flash photos are just not going to show a place at it's best. Understatement. And no floor plan.

Maybe Red Hook is still desirable enough that these things aren't needed? I don't know. There are still no subways there and prices are strangely skewed. I mean, no subway plus huge project with majority of Red Hook population. But low inventory seems to keep prices higher? It IS beautiful and romantic over there, but still.

Posted by: Nomi at July 27, 2009 2:51 PM

but Boerum Hill -- that is the question -- Is Dikeman 3000sq
(meaning lower level is living space)...because by picture looks like front window down there is covered.
And broker doesn't exactly say duplex plus rental.
Looks more like a basement than a garden level down there.

Posted by: Petebklyn at July 27, 2009 2:55 PM

Yeah, basement/garden question is a big question cause of those "windows," but still I say that's got to be the apt down there cause stairs are open between the other floors. Maybe they are working on the windows. In other pictures things aren't quite done.

In my great wisdom I can understand the appeal of a new (or newly renovated) coop over an old house with possible hidden problems. The so-called luxury coop with its clean and open layout and less worry about sudden expensive repair (of course countered by maintenance fees hard to measure against house maintenance cost) glamor and views -- I can understand paying more per foot for that even though I lean toward houses.

Posted by: Nomi at July 27, 2009 3:05 PM

Nomi, is this what passes for a "great block" in Red Hook? I took a little walk on Google streetview and it looks pretty desolate.

If that kitchen is considered better than a flip job then I shudder to think what a flip job would be like.

Posted by: the chicken at July 27, 2009 5:32 PM

Boerum Hill, it's not that condos are valued over houses, but that in real estate, location is a huge part of the equation. Court St. lofts are in a decent location (if you don't mind being near the BQE), zoned for a good public school, and near the subway. Red Hook just isn't there yet.

Posted by: CGfan at July 27, 2009 5:33 PM

This place is so cute. I love the paint job.

Some other even cuter place in Red Hook recently sold for just under $1 million.

Posted by: mopar at July 27, 2009 6:06 PM

In fact, anyone have any idea what that paint is? I used a color from Benjamin Moore years ago that looked pale taupe-green like the front room here, but I don't think they make it anymore.

There's a can in the photo of the middle room, but I'm afraid it isn't government satellite quality, and I can't discern the brand and color.

Posted by: mopar at July 27, 2009 6:13 PM

Oh, everything looks depressing of Google streetview, chicken. Really, take a look at the nicest block you can think of.

A great block in Red Hook IS a little desolate, though. It's true. One man's desolate is another's romantically wind swept. Of something.

I actually just drove by the house. And I still can't say what's going on with those ground level windows! The house looked occupied, so I didn't want to stop and get out and gawk, so I only tried to figure out from the car. They are not boarded up. It looked like some kind of dark brown screen covering . . . something. There are definitely window frames, if no actual windows at the moment.

Mopar, you're funny. Maybe with some forensic enhancement you can get the color off the can. I'm wondering now if those photos aren't from a while ago since the house looked occupied as I said.

Posted by: Nomi at July 27, 2009 7:50 PM

That's a can of JOINT COMPOUND!!!

Posted by: denton at July 27, 2009 8:48 PM

Yeah, so? The walls could be painted with joint compound.

Posted by: Nomi at July 27, 2009 9:38 PM

haha - sorry Nomi, didn't mean to diss Red Hook!
I do like a bit of industrial (I've lived in a similar area in London for over a decade) but it is an acquired taste.

Looks like those photos were taken during the reno as you can see the floor is only partially laid in the last photo and the worktop is missing in the kitchen photo.

Posted by: the chicken at July 28, 2009 3:34 AM

Damn! Joint compound!!! Ha ha.

Posted by: mopar at July 28, 2009 12:28 PM

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