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House of the Day: 2101 Albemarle Terrace, Reduced

Categories: HOTD, Prospect Lefferts Gardens

2101-Albemarle-0809.jpg
When 2101 Albemarle Terrace was the House of the Day back in August it was listed at $819,000, a price we questioned given the amount of work that was needed. Needless to say, the beautiful single-family brick house failed to sell at that price and just last week the asking price was reduced to $749,000. Based on the fact that the pricing widget in August generated an average reader appraisal of $708,881, this new asking price should be a lay-up. We shall see though.
2101 Albemarle Terrace [Brown Harris Stevens] GMAP P*Shark
House of the Day: 2101 Albemarle Terrace [Brownstoner]




By Brownstoner at January 26, 2010 1:13 PM | Comments (15)

15 Comments

By Montrose Morris on January 26, 2010 1:32 PM

Wasn't this house on last spring's Flatbush house tour? Or was it the one on the next block, by the same architect. Come to think of it, the one I saw had more Craftsman details. Anyway, they were nice houses, in a very charming and unique location. I likes these. I would think this reduction would do the trick.

By Brownstones Half Off on January 26, 2010 1:36 PM

"Based on the fact that the pricing widget in August generated an average reader appraisal of $708,881, this new asking price should be a lay-up."

Now 649K as of 1:33. It'll be a lay-down. 1/2 mil by bottom but probably picked up by FHA sheep before then.

***Bid half off peak comps***

By gemini10 on January 26, 2010 1:39 PM

from the outside - the place looks gorgeous
the pics of the inside are a bit grim
however if your knack in life is renovating old places - this is a gem!
the street is very cute and quaint
I hope someone buys it and restores it

By Brenda from Flatbush on January 26, 2010 1:39 PM

My problem with the Albemarle and Kenmore Terrace gems is their location, kind of buried in the heart of rough-and-ready Flatbush Avenue 99c-store-land.

By antidope on January 26, 2010 2:11 PM

Widget is soooo accurate. Market has fallen 9% since August?

At this rate we'll be half off sooner than predicted.

By lesbiman on January 26, 2010 2:32 PM

Potential to be a nice house but..."bring your contractor" and "gem in the rough" is real estate lingo for "expect to spend at least 30% of purchase price in renovations". The kitchen and baths must be disaster. Lets not even mention the mechanicals.
At least the realtor is up front about it.

By joeingowanus on January 26, 2010 2:35 PM

Love it.

By daveinbedstuy on January 26, 2010 3:02 PM

As I stated back in August, it's the garage, the porch and the terrace above the garage on the backside of this place that are incredible. From what i remember though the view from the porch just ain't so good.

By denton on January 26, 2010 3:28 PM

I like that vintage stereo. I guess it's he same vintage as the last time they did the bathrooms.

By etson on January 26, 2010 3:46 PM

"Wasn't this house on last spring's Flatbush house tour?"

It was either this one or its twin, not sure. I don't remember the one on the tour being in 'bring your contractor' condition, though.
There was also one around the corner on the side street, which if I remember right was owned by the realtor on this place.
Anyway, I like the houses. Garage is a huge plus as parking is bad (round the corner from Church Ave).

By MrsJ3 on January 26, 2010 5:04 PM

Yes, the one on the tour was around the corner. Here, there's clearly some potential here, but the view is bleak. That stretch of Ocean is extremely sketchy. We live in the general neighborhood and went to look at the house that wound up on the tour last summer and we turned around before we got there. Agree the Terrace is a cute street, but to get there you have to walk through a less than desirable few blocks - the view's going to seriously hurt the price.

By lostgonzo on January 27, 2010 6:16 AM

The inside is a museum of the previous owner, all covered in plastic. Shampoo and toothpaste untouched for a year in the bathroom. The ceilings and some of the walls have that drippy, upside-down meringue look. The layout is wonderful, however.

By brooklyndiy on January 27, 2010 7:30 AM

Great bones. I went to the open house on Sunday. The interior has not been touched in 40 years. Lots of plaster damage. All ceilings were popcorned in the 70s. All woodwork has been heavily painted. Kitchen is a 60's dark wood disaster, needs to be redone. Two bathrooms both from the 30, need to be redone. Center stair railing, nothing special. Original floors very worn, will need a lot of patchwork, and repair. Original fireplace is gone. I love old houses, but this three floor brick has no interior details worth saving. The basement is a maze of small dark rooms. I did not have a chance to inspect roof or other roof surfaces. One good piece of news is that the windows were done in the last 15 years. Unfortunately this landmarked beauty will need a full gut renovation. Please do right by her and bring your classically trained architect and check book!

By traditionalmod on January 27, 2010 8:25 AM

This is not PLG. FYI.

By BHS on January 27, 2010 1:03 PM

The house is off of E. 21st St, not Ocean.

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