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August 26, 2009

House of the Day: 552 47th Street

552-47th-Street-0809.jpg
A concerned reader sent in these photos after a recent visit she took to 552 47th Street, a dripping-with-charm but down-on-its-luck limestone house in Bay Ridge Sunset Park. Why concerned? She's worried that someone who doesn't appreciate the incredible interiors will pick the place up at a discount to the $720,000 asking price and gut it. Given these photos, we can only hope that doesn't happen. What an incredible place! Any preservationists out there itching for a restoration project?
552 47th Street [ReMax] GMAP P*Shark





Posted by Brownstoner at 1:16 PM | Comments (52)
Categories: HOTD, Sunset Park

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Comments

47th street isn't bay ridge.

Posted by: InsertSnappyNameHere at August 26, 2009 1:20 PM

This post is very close to being a sales pitch, is that something to be concerned about?

Posted by: fobsdelhi at August 26, 2009 1:21 PM

really brownstoner? 47th st is bay ridge? you sound like a desperate real estate agent trying to say 52nd st is park slope. thats the heart of sunset park!

Posted by: guikazoid at August 26, 2009 1:24 PM

This is the kind fo place I would totally buy; give me something to do on weekends - fix stuff!

Posted by: infinitejester at August 26, 2009 1:27 PM

It even says Sunset Park in the posting. Someone is not reading.

Posted by: Kensingtonian at August 26, 2009 1:32 PM

one more thing....overpriced.

Posted by: Kensingtonian at August 26, 2009 1:33 PM

someone give me a ring when price drops into the 500k's.

Jester, if you like fixing things, you're welcome to tinker with my crown heights place

Posted by: more4less at August 26, 2009 1:46 PM

This is Bay Ridge North.....or Park Slope South South.

Posted by: Expert Textpert at August 26, 2009 1:48 PM

OMG - you said BayRidge...you could get hammered arrested on this site by neighborhood police.

Posted by: Petebklyn at August 26, 2009 1:48 PM

No idea re prices, but this looks like a great find. I love Sunset Park (new convert after eating there once last week).

So what kind of work does it need? Just a little ol' failed plaster in the hallway, or are the roof and foundation caving in?

Posted by: mopar at August 26, 2009 1:55 PM

When the nabe statement is so far off and the listing and map clearly shows what nabe it's in, I'd say a bit of finger wagging is in order :)

The blocks between 5th & 6th seem nice up there...not too loud. Curious what it will actually go for.

Posted by: InsertSnappyNameHere at August 26, 2009 1:58 PM

its a really nice block!

Posted by: guikazoid at August 26, 2009 2:01 PM

snappy, it was ONLY off by like 30 blocks or so. isn't that close enough to call off the dogs? Nah, I agree with you.

Posted by: more4less at August 26, 2009 2:02 PM

One thing that plays into these houses is what people do for a living. I could live here and drive or take the train to work; a lot of people would not be crazy about here because they need to commute a really long way.

Also, if you're home life isn't much of a nesting one, and you like to go out to eat and to shows for entertainment, why bother having a house?

Posted by: infinitejester at August 26, 2009 2:06 PM

It doesn't take any longer to commute in from Bay Ridge or Sunset Park than anywhere else in the outer boroughs. THe problem is if you need to take a cab home from Manhattan late at night. Then it's major bucks, no?

This is a great neighborhood, very family friendly, lots of excellent restaurants.

This place is beauyooooooooooooootiful.

I think the reader is right to be concerned, if there is any truth behind those stereotypes of recent Chinese immigrants not wanting to live in a house with any old stuff.

Posted by: mopar at August 26, 2009 2:10 PM

Mr B is in Hawaii, so his sense of geography could be skewed.

He might also be a few rum punches to the wind.

Posted by: DitmasSnark at August 26, 2009 2:10 PM

into the 500k's, I'll be the Chinese immigrant who'll buy it and not gut it. Cant speak for my fellow country men whom I do fear will gut it

Posted by: more4less at August 26, 2009 2:15 PM

gross. there's probably 720,000 cockroaches and bedbugs all squattin' large in that house. and wouldnt all that dark wood make you feel like your living inside a coffin?

*rob*

Posted by: PitbullNYC at August 26, 2009 2:28 PM

Why assume the house is infested?

Posted by: InsertSnappyNameHere at August 26, 2009 2:31 PM

M4L, you should arrange to see it. Make an offer. You have nothing to lose.

If places in this area were selling for $700,000 at the height, then I think $600,000 would be reasonable for a place in move-in condition, and $500,000 would be about right if it needs an electrical upgrade, skim coating, and other such work -- as long as there are no serious structural issues. Anything more involved, probably drop into "investor" price and 203K territory.

Posted by: mopar at August 26, 2009 2:31 PM

I thought this whole area was provincial Park Slope.

Posted by: Minard Lafever at August 26, 2009 2:37 PM

it just looks infested to me. pretend i have x ray vision or something.

*rob*

Posted by: PitbullNYC at August 26, 2009 2:39 PM

ROB, im not sure about the roaches, but its def haunted.

Posted by: big swinging nick at August 26, 2009 2:44 PM

mopar, I'm adding this to my watch list. if it sits for a while then I'll go check it out. too earlier in sales cycle for seller to accept 500k

Posted by: more4less at August 26, 2009 3:01 PM

While this home clearly sits within Sunset Park boundaries today, there was a time, prior to the construction of the elevated BQE in the area , that this home would have been referred to as being in or very close to Bay Ridge. It is fairly common knowledge among long time residents or their descendants that many blocks that now technically sit in Sunset Park were once part of Bay Ridge. Some even refer to these Sunset Park blocks as " Old Bay Ridge". Such references can be substantiated by a large Pre -War bank building that sits in the mid fifties on Fifth Avenue in the heart of a vibrant shopping area of today's Sunset Park. If you look hard enough, way up on top of the facade, chiseled into the stone are the words " Bay Ridge Savings Bank".

Posted by: Crescent Hill at August 26, 2009 3:11 PM

spent some time in sunset park over the last few years, had a good friend that lived there. it is a nice, family friendly neighborhood - and there are def some great restaurants. grocery stores seemed pretty so-so, though. and if my friend's experience was anything to go by, you really gotta leave the hood for nightlife - which can be a pain in the ass when you gotta get back there late at night and pay quite a bit for a cab. also, this place is next to the R-local rather than the DMNR stop at 36th which increases your commute noticeably. that said, for a family that doesn't do a lot of late night socializing it could be great at the right price.

Posted by: perhaps at August 26, 2009 3:19 PM

This house is far from Bayridge and very close to Sunset Park, hence it is in the neighborhod of Sunset Park. A real name that has been around for a long time. The name is not popular with realtors because it sounds a little like an old age home, and the proximity to Green wood cemetery reminds one of the final sunset.
Nonetheless, this area is Sunset Park.

Posted by: Minard Lafever at August 26, 2009 3:23 PM

I grew up on 37th street,my grandparent's lived at 552 -44th street this is SUNSET PARK.

Posted by: janko at August 26, 2009 3:36 PM

This is the BEST block of Sunset Park. The nicest houses. I lived three blocks away for a few years - very nice area to live in.

Posted by: LM at August 26, 2009 4:12 PM

I live on this block. I looked at this house today. It's all original. Nothing has changed in this house since it was built. It has lots of nice details. Woodwork is beautiful, floors are fancy parquet. It will need basic plumbing and electrical upgrades. This is one of the best blocks here in Sunset Park.

Posted by: Rick at August 26, 2009 4:15 PM

Agree with your strategy, M4L. But how do you know how long it has been on the market? Those online listings that say "15 days on market," etc., are always wrong.

My strategy: You could go look now, find out all about it, find out how long it's been on the market, and don't bid if it's new. That's my strategy. You could also get some nice Chinese food when you're done.

Posted by: mopar at August 26, 2009 4:33 PM

Rick,

is hopes of picking this up in the 500k's a waste of time waiting or realistically possible? To rip thru walls to replace plumbing, electrical,... while keeping original details in tact is a ton of work, $$$, & time so just speaking for myself, can't see offering more than 500k or so

Posted by: more4less at August 26, 2009 4:34 PM

Oooooh, Rick. Sounds stellar. Remember everybody, you do not need to replace old plumbing that is working fine now.
.

Posted by: mopar at August 26, 2009 4:36 PM

According to property shark a mortgage was taken out in 2006 for $400. If that is close to the 2006 (RE height) transfer price, it must need some serious work.

Posted by: orestes at August 26, 2009 4:37 PM

As for the electrical, can you safely put in just a few new lines for the fridge and air conditioning, instead of replacing everything? My coop did that, and everything they did was up to code and the work was done by licensed electricians.

Posted by: mopar at August 26, 2009 4:39 PM

What's a three-bedroom floor-through apt go for in this area?

Posted by: mopar at August 26, 2009 4:40 PM

I am rather sorry we are closing on another house tomorrow. I like this place!

Posted by: mopar at August 26, 2009 4:58 PM

mopar, you have a good deal with that house. don't let what "might" be better give you buyer's remorse. besides, this one is currently asking 720k - not the 500k I'm throwing around

Posted by: more4less at August 26, 2009 5:03 PM

Did you read my first post? I said "It will need basic plumbing and electrical upgrades" not complete replacement. It is functional. In my experience, new home owners are eager to make upgrades before they move in. It really depends on the homeowners plans for the building. The electric is all really old and will need additional circuits and a new breaker box. To answer M4L question, I know for a fact there are offers in the high 600's for the house. Before the bust, houses were trading up to a million. Floor through rentals fetch $1500-$1850.

Posted by: Rick at August 26, 2009 5:13 PM

I'm gonna buy it and gut it. Just to bust y'alls balls. lol.

Posted by: denton at August 26, 2009 5:14 PM

thanks Rick. Scratched it off the list and onto another fixer forthcoming

Posted by: more4less at August 26, 2009 5:19 PM

Up to a million? Jeepers. Thanks for all the info, Rick.

Posted by: mopar at August 26, 2009 6:11 PM

Well, at least I don't have to have buyer's remorse now. Can't afford Sunset Park!

Posted by: mopar at August 26, 2009 6:17 PM

This place is definitely worth at least its ask of $720K. Renovated, even in this market, this house is worth at least $850K. It's the best block in the neighborhood.

Posted by: BrianR at August 26, 2009 7:01 PM

I agree with poster BrianR, it's worth the asking price (or close to it). This is the best block in Sunset Park. Entire block is brownstones and limestones and not a one of them has been covered with aluminium siding or fake brick facade like many houses in sunset park.

I live on this block and just refinanced to get a lower rate. the appraisal of our house came in at $850K (yes, it's in better condition because we already fixed it up).

And Rick said is right, at the peak of the market houses on this block were up to a million.

unlikely this is going to sell as low as the $500s.

Posted by: roguepetunia at August 26, 2009 9:15 PM

If the woman (realtor) is so worried about it being gutted, then she should buy the dump...puhleese.

Posted by: tarzanijan at August 26, 2009 9:40 PM

I seriously doubt the OP is a realtor. I too have drawn Brownstoner's attention to great houses I hoped someone would save. Look at the ad. Says it needs TLC, only one photo, not a word about original details. The realtor would never think to do this.

Posted by: mopar at August 26, 2009 10:13 PM

Does anyone know what can be done to prevent the destruction of our Sunset Park Brownstones? I am not talking
about the interiors. I am talking about the faces of the buildings being destroyed - for example 6th Avenue bet 54th and 55th Street and the end brownstone on 59th Street near
4th Avenue (now it is a rectangular building).

Posted by: sun park at August 26, 2009 10:48 PM

Mopar good luck with that purchase in the AM.

I really do hope someone who appreciates the details buys it. I've heard stories of homes in sunset being converted into all sorts of crap, including a mini ambulance garage.

Posted by: jack slade at August 26, 2009 11:39 PM

I'm the one who sent Brownstoner the photos--as Mopar pointed out, the realtor was seriously without a clue as to what he's got, and I'm worried. I, too, live on the block. Houses within a block or two of here have *recently* sold for 850,000 to 950,000, and that's on less attractive blocks, and even wood frame houses.

I wish the "real" price of a gem like this was $500,000--I have a lot of friends I'd like to get into a house on my block who can't afford it. But no such luck.

In terms of the house's condition, it's got good plaster, small repairs necessary, but not total re-dos. Even plaster moldings are intact. It's got every pocket door in the house still there. Most woodwork has never been painted, and would be a cinch to get cleaned up (probably it's shellacked, thus simple alcohol will strip it). Butler's pantry, and even period furniture is for sale if you want to keep the place a museum! No one has lived there for 6 years, and for 50 years it's been the same, one family. The old lady's wedding picture is hanging on the wall, still!

Rick's right that it would need new breakers, probably some more electric service. But it functioned like this for 100 years, and could last a while longer if a buyer didn't have the cash to upgrade immediately. (and didn't need aircon) In that case, all you'd need are a few coats of paint, and some new kitchen appliances.

I don't mean to make it sound scary--it's a bit dark since the electric's been cut off, so I had to use a flash to shoot pictures. Once the electric's on (and BTW all the original light fixtures are also there), and the clutter is cleared out, it would quickly look like a really pretty home.

Hope someone who loves old things find this place, fast! The realtor told me he had one or more offers already in the "high 60s", and they planned to hand the offers to the owners like, now. Which means time is short if anyone plans to take a look.

Posted by: penandink at August 27, 2009 10:03 AM

Back in the day in Park Slope there was a group of people who would steer people to places like this -- people they knew would restore the place, not destroy it.

I wish I knew of such a group now. I know people in Sunset Park, but they don't have any money either. Arkady, Denton (ha!), Bob Marvin -- any friends looking to buy a place in perfect condition?

Penandink, I think it was really nice of you to post this.

Sun Park, a few months ago someone posted (in the Forum, I think) with your same question about preserving facades. I don't know the answer (other than landmarking) but maybe there are some ideas in there.

Posted by: mopar at August 27, 2009 1:44 PM

Thanks, Jack!

Posted by: mopar at August 27, 2009 1:53 PM

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