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October 20, 2009

House of the Day: 65 Prospect Park West, Reduced

We posted 65 Prospect Park West as a House of the Day last April when it hit the market asking $2,899,000. The price has just been reduced by a third, bringing it down to $1,950,000. The listing says that the "motivated seller MUST SELL" so there's probably some wiggle room even from here. Even if the interior is a disaster, the seller would be better served to include some interior photos: absence makes the heart grow suspicious. The listing does say that there's plenty of original charm left so at some price in here this has to be interesting. Last go round, the average widget price was $2,173,820. Let's see what people think six months later.
65 Prospect Park West [Awaye Realty] GMAP P*Shark
House of the Day: 65 Prospect Park West [Brownstoner]

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Comments

The photos look like they were taken by a cop on a stake out or maybe a peeping tom.

I'm not convinced the realtor has the owner's permission to market the place....

Posted by: northsloperenter at October 20, 2009 1:23 PM

given it's Awaye realty plus no interior pics, do we even know if Awaye has owner's consent to mkt the place?

that aside, is the location premium worth 500k-600k more than comparable size brownstone houses in the slope (ie nice 3 story houses needing TLC cost around 1.4M)?

Posted by: more4less at October 20, 2009 1:26 PM

Good point northsloperenter!

The house looks like it has good bones but needs a ton of work.

Posted by: A CrownHeightsLady at October 20, 2009 1:27 PM

the sign out front says Awaye realty so i'm sure they really have the listing...

[unless they snuck in and stuck the sign up and no one moved it for 3 months, ha ha]

the apartment abutts a 10+ story coop, i don't like it when townhouses are like that, dark yard and it messes up the scale of the house...

Posted by: sender9999 at October 20, 2009 1:32 PM

M4L, I think 1.4 for a 3-story that needs work in PS is too high - some places, even on prime blocks are going for less than that. This looks like a gut job on a busy street - they are dreaming.

Posted by: Miss Muffett at October 20, 2009 1:33 PM

this is a widget buster that shows cyber shopping has its limits.

this was in contract as of 9/21/09. Did it bust up?

Posted by: antidope at October 20, 2009 1:35 PM

walk by this place often. from the outside, the place is pretty bad. the pictures don't do it (dis)justice. it will need extensive work on the outside. it's such an eyesore to the rest of that block too.

Posted by: jcnycarch at October 20, 2009 1:39 PM

I always wondered about the layout of these houses. I guess I'll keep wondering.
The driveway (parking) must add some value.

Posted by: Tara in the Slope at October 20, 2009 1:46 PM

Tara (I'll save your OT name for the OT), we've missed you in the OT. Where you been?

Did these people NOT Google Awaye / Arlene Waye before hiring them (assuming they hired them)?

Miss Muffett, I'm not attacking you. I'm ready to buy. So, I'm just wondering, WHERE, on prime Park Slope blocks, have you seen houses for less than $1.4 million?

Posted by: CarrollGardened at October 20, 2009 1:50 PM

Seriously, I might get flamed for this, but I would not touch this for a penny over 1 million, and even that is high to live in the shadow of that huge building next door, listen to PPW traffic, and take on the headaches the gut would be...

Posted by: Miss Muffett at October 20, 2009 1:51 PM

Just found out the house on 2nd Street between 5th & 6th is asking $1.1M - that's a 3-story that needs TLC on a nice block in PS. So yeah, $1.4M seems high...

Posted by: Park_loper at October 20, 2009 1:53 PM

CarrollGardened - 356 1st Street comes to mind, but there are definitely others. There was a house on 10th Street bet 6/7 by Betancourt that was drop dead gorgeous that sold for 1.595 (granted, more than 1.4, but it was an exquisite architect's renovation, and bought in peak spring selling season). Friends of mine also bought just before the crash in further South slope in the 1.3 range. Am at work and don't have time to scour more, but do your research and you will see what I mean.

Posted by: Miss Muffett at October 20, 2009 1:55 PM

CarrollGardened, there aren't that many for less than $1.4, not in Prime Slope anyway.
And if you find one, it'll need a ton of work or is not as deep.

I got turned off by the OT, not very friendly.

Posted by: Tara in the Slope at October 20, 2009 1:59 PM

"I got turned off by the OT, not very friendly."

Tara, thanks for your response on PS houses (and you, too, Miss Muffett), but please give the OT another shot. I'll be the first to admit there's been some bickering in recent weeks, but having hung out with most of the regulars in person, they're really a nice, warm, friendly, collegial group of people. So, please give the OT another chance - we really enjoyed "meeting" you the other day.

Posted by: CarrollGardened at October 20, 2009 2:04 PM

I think for many people the park views, and prestige of living across from the park would be a major appeal.(plus parking and a garage). Although certainly understand others preference for the side streets. And looks like great enclosed porch on 2nd level.

Posted by: Petebklyn at October 20, 2009 2:22 PM

and it would surprise me if Awaye is primary listing agent.
That would bring down the price itself.

Posted by: Petebklyn at October 20, 2009 2:23 PM

Just found out the house on 2nd Street between 5th & 6th is asking $1.1M - that's a 3-story that needs TLC on a nice block in PS. So yeah, $1.4M seems high...

********************************************************

where did you find this?

Posted by: dandel at October 20, 2009 2:24 PM

Dandel, I walked by it the other day. It's with Century 21 and it's being handled in a typically incompetent manner - no web site, no info, no promotion, etc. There's just a little sign on the house. I finally got a call back from the broker, it's 20 feet wide, 3-story, been in same family for 50 years, needs TLC, etc. asking $1.1M. I assume it must be a wreck inside and of course there are no photos to check!

Posted by: Park_loper at October 20, 2009 2:32 PM

did anyone around here actually see 356 1st st. The old thread hints at potential structural issues (as well as odd layout). w/o structural issues that would be a very attractive entry point even for a full gut. you'd end up with a stunning single family at a non-bubble price. i also wonder if it had a full height and dry basement?

anyone remember?

Posted by: antidope at October 20, 2009 2:35 PM

113 Garfield is in contract 3 story , 18'er. Was asking $1.675m -what do you think they got? (renovated).

Posted by: Petebklyn at October 20, 2009 2:40 PM

Interesting about the house on 2nd Street Park loper. Thanks. I never understand why people list with brokers who don't get them wide exposure. (Or list with Awaye.)

Posted by: CarrollGardened at October 20, 2009 2:51 PM

178 8th Avenue is now in contract also. Last asking was 2.8 million with the widget coming in at 2.3 million.

Will be interesting to see what they got.

Posted by: 11217 at October 20, 2009 2:52 PM

11217, Welcome Back! How was Turkey? Come over to the OT. People have been asking for you.

Posted by: CarrollGardened at October 20, 2009 2:56 PM

CG, no problem. I'm kind of interested so I probably shouldn't be publicizing it too much, LOL! I've just been so frustrated trying to get more information I had to vent.

Posted by: Park_loper at October 20, 2009 2:59 PM

Time marches on.

4/6/09 HOTD 20 Clifton Place sold 10/15 for $850,000. 15% above widget; 8% off ask.

6/3/09 HOTD 240 Dean St sold 10/5 for 1,390,000. 9% above widget; 11% off ask.

yes, waiting on Garfield. W1 said 1.5 and W2 said 1.4. It will be higher than either, imo. i'll guess 1.55.

other HOTD in contract: 178 8 Ave, 244 Hall St, 448 6th St, 638 St Marks ave

Posted by: antidope at October 20, 2009 3:00 PM

Man, Awaye Realty gets a well deserved beating on this thread. I had to check Streeteasy and Prop Shark to actually get info.
The lowest ask was $1,899,000. Although it was "sold" in fact it didn't. The agent sure wants to muck up the listing history. I also love that the listing touts FAR as it were a prime development site, even though it's in the historic district. Good luck with that.
It would be a great location, if it didn't have a 10 story building attached to the southern wall. I have to agree with Miss Muffett, as a single family it's probably worth about $1.2M to $1.4M.

Posted by: Maly at October 20, 2009 3:03 PM

Can anyone explain the hay bales in the backyard?

Posted by: bkrules at October 20, 2009 3:04 PM

"Once in a LIFETIME Opportunity to Own a Rare Diamond in the Rough" - Awaye Realty

More like a rough in the diamond. No floor plans = you suck.

Gotta share that driveway too.

That was funny, northsloperenter @ 1:23.

***Bill Thompson for Mayor***

Posted by: Brownstones Half Off at October 20, 2009 3:07 PM

From the horse's mouth...

Current Market Boom "Can't Be Trusted," Robert Shiller Says [yahoo finance]

Are we on track for a repeat of irrational exuberance?

With the stock market up more than 50% since March and the Standard & Poor's Case/Shiller Index on the rise for the last three months, it's a worry, says Yale Professor Robert Shiller. "Somehow we got into this really speculative mentality and I don't think we're out of it yet."

Given the current economic environment, "these booms [in the housing and stock markets] that we're seeing now can't be trusted to continue," Shiller tells Tech Ticker in the accompanying video, taped at last week's Buttonwood Gathering. (Click here for part one of the interview.)

The author of Irrational Exuberance and Animal Spirits characterizes the stock market rally as an "amazing rebound" without much historic precedence, "you have to go back to the Great Depression to see such a turnaround in the stock market."

According to his cyclically adjusted P/E valuation model - stock price divided by average 10-year earnings - stocks are overvalued today, but "not massively overvalued."

The market's rebound isn't likely to be derailed by valuation in the short term, Shiller says, but if one looks to the classic bear market rally of 1933-1937 as a guide, stocks may eventually crater as they did then.

***Bill Thompson for Mayor***

Posted by: Brownstones Half Off at October 20, 2009 3:16 PM

Honestly, anyone who wants Bill Thompson to be our next mayor (regardless of how you feel about Bloomberg) I have to question your sanity and any info. you provide here.

Bill Thompson would be the WORST thing to happen to this city in decades.

Posted by: 11217 at October 20, 2009 3:21 PM

Tara in the Slope, go lurk on OT thread a little more often and you're find most are harmless and tons friendlier in person. All new folks get their tires kicked but dont let that scared you off.

Posted by: more4less at October 20, 2009 3:25 PM

I apologize Tara- we're so used to some folk doing multiple hoax log ins that we sometimes get overly suspicious. Please consider us properly chastized.

I love this house. But like everyone else, no pics makes me very wary. Someone said brokers like to leave things to the imagination (as an excuse), but no pictures seems to confirm people's idea that someone is trying to pull the wool over their eyes.

Posted by: bxgrl at October 20, 2009 3:38 PM

11217, that is where you are wrong. Bill Thompson will be the best thing to happen to this city in decades.

**BILL THOMPSON FOR MAYOR**

Posted by: dandel at October 20, 2009 3:40 PM

"Bill Thompson would be the WORST thing to happen to this city in decades."

Kindly list the reasons why.

***Bill Thompson for Mayor***

Posted by: Brownstones Half Off at October 20, 2009 3:41 PM

you guys and the OT. sigh. i would have to agree with tara that it is a bit aggro. granted i've had my share of spats but i would say to heed your own advice and let be M4L! regardless of whether people think hoax log ins and whatnot might be a joke, some pretty nasty stuff came out. bxgrl, you are one of the truly kindhearted people on this site. i know both you and M4L mean well, but i think encouraging people to go into the OT when there is such hate is a recipe for disaster.

that said, this listing is just awful. seriously, for $2MM then can't make it look a little better? and the 10 floor building next door is not palatable. you have a huge building overlooking your yard? kind of detracts from any privacy.

Posted by: CG_ups at October 20, 2009 3:46 PM

I don't list reasons to people with multiple log in names.

And it doesn't matter, he doesn't have a chance in hell of beating Bloomberg.

Posted by: 11217 at October 20, 2009 3:47 PM

You don't list reasons you don't have.

Yeah, he might not have a chance. At day's end, cash rules. Everybody's a whore.

But still...

***Bill Thompson for Mayor***

Posted by: Brownstones Half Off at October 20, 2009 3:52 PM

I don't list reasons to people with multiple log in names.

And it doesn't matter, he doesn't have a chance in hell of beating Bloomberg.

****************************************************

11217, you have the reasoning ability of a 2 year old. Who are you accusing of having multiple logins?

You should shut the fuck up the next time or not make flippant statements without the ability to back them up. You act like a child otherwise.

Saying "it does not matter because...." is just plain weak. You are a disgrace.

***BILL THOMPSON FOR MAYOR***

Posted by: dandel at October 20, 2009 3:52 PM

"11217, you have the reasoning ability of a 2 year old"

And your quote from a couple weeks ago:

"hmmm, sounds like both 11217 and fsrq are in the finance industry. Figures."

At which point, i told YOU that you had the reasoning skills of a toddler. Moron.

Posted by: 11217 at October 20, 2009 4:01 PM

This was my exact quote, in fact:

***
"hmmm, sounds like both 11217 and fsrq are in the finance industry"

hmmm...sounds like you have the reasoning skills of a toddler.

As many people here know, I work in a field not remotely associated with the world of finance.
***

Wow, dandel...you really know how to get me good, don't ya? Using my exact same dig at you on me a couple weeks later!

Posted by: 11217 at October 20, 2009 4:03 PM

"I don't list reasons to people with multiple log in names."

I thought it was ROFL funny, 11217, and I know who you were referring to.

Posted by: CarrollGardened at October 20, 2009 4:05 PM

"You should shut the fuck up the next time or not make flippant statements without the ability to back them up."

1. "Looks like another wall street crook is getting a fat bonus this year. with money coming out of the tax payers' pocket."

2. "hmmm, sounds like both 11217 and fsrq are in the finance industry"

3. "Where are the wall street crooks with their fat bonuses (that our tax dollars paid for through the TARP) to come in to drive prices further out of the reach of ordinary working families who pay taxes?"

4. "BILL THOMPSON FOR MAYOR"

5. "where are 11217, fsrg, Nomi and DIBS to defend wall street crooks?"

Posted by: 11217 at October 20, 2009 4:09 PM

Wow, dandel...you really know how to get me good, don't ya? Using my exact same dig at you on me a couple weeks later!
**************************************************

Thanks, 11217! It doesn't feel too good, does it?

Posted by: dandel at October 20, 2009 4:21 PM

Dandel, it feels pretty awesome actually.

Get back to me when you've grown a few brain cells, will ya?

Posted by: 11217 at October 20, 2009 4:24 PM

Anyone thinks Bill Thompson won't be a return to Lindsay, Beame, Koch & Dinkins poorly managed, crime ridden, debt burdened city government really has their head up their ass.

Posted by: daveinbedstuy at October 20, 2009 4:26 PM

11217, you are a low-life scum for digging up my old posts. Get a life, will ya?

Posted by: dandel at October 20, 2009 4:29 PM

DIBS -- Are you planning on starting another crack epidemic? Otherwise I don't think a Mayor Thompson will be any of those (except maybe debt burdened -- Bloomie is already started with new bond offerings, and I imagine that may continue).

Posted by: Boerumresident at October 20, 2009 4:33 PM

CG ups- thank you! So I hope this means you'll still come out to the next meet up- I missed you on the House Tour! Still, I can't help but hope people see that as a community we are a pretty good group and we want to be inclusive. We can be a bit much but that's why we need people like you and Tara to kick up in the butt and straighten us out :-)

Posted by: bxgrl at October 20, 2009 4:34 PM

Oops- I meant kick us in the butt

Posted by: bxgrl at October 20, 2009 4:34 PM

I think the location is great (view of park, good subway access, good school district) and the house is lovely from the outside. I saw a couple of interior photos a few months ago... it was hard to tell, but looked like it still has substantial original detail.

Posted by: Pigeon at October 20, 2009 4:35 PM

"Anyone thinks Bill Thompson won't be a return to Lindsay, Beame, Koch & Dinkins poorly managed, crime ridden, debt burdened city government really has their head up their ass."

Yup. Bloomie too. There's no escape from the Greater Depression. The deleveraging of this econzi will be massive.

***Bill Thompson for Mayor***

Posted by: Brownstones Half Off at October 20, 2009 4:40 PM

The listing says this is asking $2,170,000.

Posted by: ilovebrooklyn at October 20, 2009 4:54 PM

Looks like Awaye is listening to the "wisdom of the widget".

Posted by: DitmasSnark at October 20, 2009 6:33 PM

I have been inside and the place should be condemned. It is hard to believe someone is actually living in it. The only plus is the location (PPW) but it is in the shadow of an ugly non descript building next door.
Absolutely everything needs to be done to this house. There is not much charm other than the fact it is a house on PPW. There are holes in the ceilings, the walls, the house has not been touched, cleaned or minimally maintained in many many years at best.
Whoever buys it will need to put an awful lot of money into it to bring into the 21st century.

Posted by: drbrooklyn at October 20, 2009 8:09 PM

AWAYE Real Estate what a joke of a real estate company. Very typical that AWAYE has this house. What does this tacky firm know about marketing and selling homes. Check out her website. The seller would be lucky if they get $1.3 for this house probably less since Arlene the owner of the brokerage should be reported to dept. of state for her unethical practices.
Great location and exterior but I hear this house needs so so much work. Awaye is probably getting a 2% commission for her brilliant marketing and sales staff. They say you get what you pay for listing with a small potatoes operation and she is so desperate for listings...go Figure...go AWAY AWAYE.

Posted by: tjj at October 20, 2009 9:15 PM

Antidope - not sure anyone's reading anymore but I saw 356 1st Street and it was in very good shape. It did have a non-ideal layout IMO since there was a rental on the top floor that needed updating, but some owners who want rental income seem to like top floor rental so they can have garden/parlor level. It sold in the 1.3 range. I can't imagine who will buy this PPW house given what a mess it is, and I actually think the location - next to a huge building, on a very busy street, is kind of a negative.

Posted by: Miss Muffett at October 20, 2009 11:24 PM

Um, I don't remember defending any crooks. Crooks are bad.

Posted by: Nomi at October 21, 2009 2:15 AM

« Condo of the Day: 55 Berry Street, #5D StreetLevel: Store for Dudes Opens in the Slope »

October 20, 2009

House of the Day: 65 Prospect Park West, Reduced

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