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February 5, 2010

Open House Picks: Six Months Later

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Open House Picks 8/7/09 [Brownstoner]
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Mostly Sub-par properties in marginal neighborhoods.

Posted by: newsouthsloper at February 5, 2010 12:43 PM

True newsouthsloper. Though, slowly creeping into the nicer neighborhoods it seems.

Posted by: joeingowanus at February 5, 2010 12:47 PM

Somebody's never been to Bainbridge streeeeeet.

Posted by: cillmylandlord_again at February 5, 2010 12:48 PM

"Somebody's never been to Bainbridge streeeeeet."

that why I said MOST - Bainbridge would be the exception.

Posted by: newsouthsloper at February 5, 2010 12:52 PM

Still not 1.3 Mil nice though.

Posted by: newsouthsloper at February 5, 2010 12:54 PM

Is Bainbridge Street a nice place to live? I know the houses are really nice on those streets... but what about 'stuff'? I have a friend who has actually been thinking of that immediate area -- though she was unsure about 'stuff.' Stores, supermarkets, basic restaurants (diner, pizza, etc.), dry cleaning, etc.

Posted by: tybur6 at February 5, 2010 1:06 PM

"True newsouthsloper. Though, slowly creeping into the nicer neighborhoods it seems."

Sub-par is...contained.

***Bid half off peak comps***

Posted by: DOW8000SP800 at February 5, 2010 1:08 PM

Stuff...not a lot but it's there.

Super Food Town is about a 15-20 minute walk on Fulton..it's probably better than any whole foods, trader joes' or any comparable Manhattan supermarket...though not Eli's! There's another two blocks away on marcus garvey, not great but adequate.

Peaches is a block away on Lewis..pretty good for dinner, very good for brunch and Saraghina is about 3 blocks away...some of the best pizza you will find in brooklyn and lots of good appetizers and entrees.

Most importantly, it's a block to the A train which will get yo to 34th st in 20-25 minutes.

Dry cleaners and bodegas all over...maybe too many.

This is a really nice block but NOTHING sells for $1MM in bed Stuy. At the peak, one of the nice limestones on Stuyvesant around the corner sold for $1.1MM.

If you go to the listing 6 months ago and click on the realtors listing for that house he has a fixer upper a block away on Macon (also really nice) for $435k.

This is a really beautiful and really quiet area. it's not like other parts of Brooklyn with all the foot traffic, strollers, shoppers all over.

Posted by: daveinbedstuy at February 5, 2010 1:13 PM

I like the houses on Bainbridge...a lot. I don't think there is anything sub par about them or the neighborhood. But, you know again...people on this site look at Park Slope as the end all be all of hoods and I've lived there too. Bainbridge is right by the A-train, so I think it's really cool. I was totally impressed by Bainbridge and ready to move into an Upper Duplex from Memphis...until I got hit with the "Bed-Stuy"'s from one of my friends. That was 13 years ago and I liked it then. It has done nothing but improve. I still regret it, total mistake.
Stuff-wise...I mean, it's residential. But, it's cute over there.

Posted by: cillmylandlord_again at February 5, 2010 1:17 PM

Wow - not looking good from this Open House report

Posted by: gemini10 at February 5, 2010 1:17 PM

gemini, both of those Bed Stuy houses are way overpriced.

They are way overpriced for what would have been the peak as well.

Posted by: daveinbedstuy at February 5, 2010 1:25 PM

DIBS, this is 0 for 4. can this be chalked up as a ding against the bulls?

Posted by: more4less at February 5, 2010 1:30 PM

Cillmylandlord,

"The Bed-Stuy's!!!"
That's a peculiar illness!
I've been hit by them, too.
Is it all just psychosomatic?

Posted by: Pigeon at February 5, 2010 1:33 PM

This is a random sample of brownstones, not the cherry-ripe ones of Last Week's Biggest Sales. But who cares? Never mind 0/4. Volume has peaked and prices have bottomed just like DIBS predicted. Buy buy buy!!!

Posted by: DOW8000SP800 at February 5, 2010 1:36 PM

What is 0 for 4, m4l??? This listing??? No biggee.

Not sure about the other two, but the Bed Stuy prices are ridiculous and anyone in their right mind knows they won't even sell close to those prices. That's not the market, that's unrealistic sellers.

Posted by: daveinbedstuy at February 5, 2010 1:37 PM

Yes...The Bed-Stuy's. You know, you're from out of town...you may not want to live over there. Wink. Wink. I'm still mad about it. That place had two working fireplaces, a roof deck, two bathrooms, great wood floors. It was on Bainbridge and Stuyvesant...an amazing block. But, you listen to people and you realize you miss out on great deals because of someone else's hangups. Then, I go to Williamsburg and see graffiti everywhere (even inside buildings) and think...really this where it's cool to live, but Bed-Stuy is the hood? That why I always laugh at what people on this site consider "fringe".

Posted by: cillmylandlord_again at February 5, 2010 1:49 PM

cillmylandlord....

I had never been to brooklyn since i moved to manhattan in 1994. I had to take the J train to broadway & throop for a friend's daughter's baptism. later that day we drove around in the car and I said to myself "WOW, these houses are nice."

We turned the corner and the street sign said Stuyvesant Ave.

I said "Holy shit, we're in bed Stuy." I owned my house not more than 4 months later!!!!

Posted by: daveinbedstuy at February 5, 2010 1:57 PM

I've been meaning to fly over to Bed-Stuy (I've never been there!) but I'm so caught up in looking in other neighborhoods that it's hard to find time.
Bklyn is so very big!

But the following description (written by Dibs) is not what I'm looking for: "This is a really beautiful and really quiet area. it's not like other parts of Brooklyn with all the foot traffic, strollers, shoppers all over." You make it sound like a suburb, Dibs!

Posted by: Pigeon at February 5, 2010 2:11 PM

bainbridge is way over priced. i think i saw this house a few years ago. the owner kept saying Robert Fulton lived there, if it's the same one. beautiful woodwork on the parlor but everything else need WORK. way overpriced!

Posted by: bkny at February 5, 2010 2:14 PM

DIBS - don't forget the 1.4M Babs purchase on Stuyvesant (Chauncey & Bainbridge)

Posted by: bkny at February 5, 2010 2:14 PM

bkny...i think she actually paid only 1.15MM...I'll try and find it...it was 408-412 Stuyvesant, just not sure which one.

And, unlike other parts of brooklyn, we don't have a lot of pesky, dirty pigeons all over.

Posted by: daveinbedstuy at February 5, 2010 2:20 PM

And now we apparently have one less coffee shop that served arguably, bad coffee.

Posted by: daveinbedstuy at February 5, 2010 2:20 PM

Pigeon,

I'm with you on that one. Bed Stuy (or parts of it rater, are quite beautiful) but I didn't move to NYC to experience total quiet. I moved here because it's full of people and things to do.

Moving from Manhattan to Park Slope took some getting used to the slower pace in and of itself and I'd say Park Slope is one of the least quiet Brownstone neighborhoods. But it's still pretty darn quiet.

I would not want to live in a place any MORE quiet than Park Slope, but everyone is looking for something different and a lot of it probably has to the stage you are in your life.

I like people watching...it's one of my favorite things about New York. To be in a place where you don't have a lot of foot traffic would be of zero interest to me, personally.

Posted by: 11217 at February 5, 2010 2:23 PM

622 is closed

Posted by: Amzi Hill at February 5, 2010 2:23 PM

bkny, you're right

404 (I think) went for $1.15MM

408 was bought by Babs for $1.465MM

http://www.brownstoner.com/brownstoner/archives/2008/04/houses_of_the_d_14.php

Posted by: daveinbedstuy at February 5, 2010 2:26 PM

it's not exactly ZERO foot traffic.

Posted by: daveinbedstuy at February 5, 2010 2:27 PM

"...pesky, dirty pigeons..."

Posted by: daveinbedstuy at February 5, 2010 2:20 PM

WTF!!!

Posted by: Pigeon at February 5, 2010 2:30 PM

Bainbridge still listed for same price.

Posted by: Ringo at February 5, 2010 2:42 PM

BHO--love the old school DOW8000 log in! Brings back some memories...

Posted by: wasder at February 5, 2010 2:50 PM

Bed Stuy has plenty of foot traffic. What I like about it is that people are more interesting than other parts of Bklyn these days. It's still "real Brooklyn". No offense, newbies. ;)

Posted by: rh at February 5, 2010 3:06 PM

Luckily, the term "interesting" means something different to everyone, rh.

On my visits to Bed Stuy I never found the people so much more or less interesting than the very interesting people I've encountered in every Brownstone neighborhood.

Posted by: 11217 at February 5, 2010 3:10 PM

You just have never run into me, that's why, 11217.

Posted by: daveinbedstuy at February 5, 2010 3:18 PM

Good to see that, wasder. Couldn't log in as BHO for some reason (banned?!). Those were the days, huh?

Posted by: DOW8000SP800 at February 5, 2010 3:37 PM

Those were the days....closing on a house the week of the Lehman collapse. That was something. Surprised I survived without my brain exploding from the stress. Wouldn't change anything at this point though. Just a wild ride.

Posted by: wasder at February 5, 2010 3:51 PM

Yeah, luckily.

Posted by: rh at February 5, 2010 4:19 PM

11217, suck on this!

http://www.bloomberg.com/apps/news?pid=20601087&sid=a4yxOhOgAATw&pos=7

Senators Propose 50% Bonus Tax on Bailed-Out Banks (Update2)

There is no justice in this country.

Banks get bailed out through 1) TARP money infusion 2) Debt guarantees by FDIC 3) Fed buying all their toxic mortgages and giving them treasuries in return 4) Fed keeping interest rates at zero to allow banks to make massive profits through carry trades.

These same banks that got us into trouble are now able to make obscene profits again and pay their employees big bonuses while the rest of the country is still starving, suffering, unemployed, and barely able to feed and clothe their kids.

These same bankers with their fat bonuses are going into brooklyn to buy nice brownstones and denying my family from finding a house to bring up my children.

WHERE IS THE JUSTICE?!!

Posted by: stevieb at February 5, 2010 6:34 PM

there is no justice stevieb. everything is crashing and burning around our ears, the rich are bailing, as they always do when they smell catastrophe. The real housing bust in Brooklyn will happen this year. Fasten you seatbelts, it's going to be scary.
Right now, nothing is moving, nothing is selling, not even at fire clearance prices.

Posted by: mcKenzie at February 5, 2010 7:08 PM

I say we throw Schumer, Gillibrand, Obama, Geithner and Summers all out of office!

These people only care about moneyed interests and don't care about ordinary new yorkers and americans who they represent.

The victory of Scott Brown in Massachusetts was the first salvo in the coming second American revolution. Lets throw all these clowns out of office, starting with Schumer!

Posted by: stevieb at February 5, 2010 7:15 PM

Schumer is in it entirely for himself. he would sell his Brooklyn constituents down the river in a second, or in exchange for a nice 30-second TV spot. But it's not just the politicians. How I wish it were. It's the banking/securities community that has set us on a path to fiscal ruin. Where there used to be trust, there is now mendacity, where there used to be ethics there is now corruption. NYC has suffered a severe blow. Who in their right mind will ever trust a Wall Street banker again?
It was all a house built on sand. The foxes were minding the chicken coop and reporting back that all the girls were resting comfortably.

Posted by: mcKenzie at February 5, 2010 7:29 PM

The washington-wall street cabal has been good at hiding the extent of rape of the american tax payers to benefit wall street.

The artificially low interest rates that Bernanke kept allowed banks to engage in profitable carry trades but punishes the elderly on fixed income as well as the prudent savers who did nothing wrong and played by the rules.

The quantitative easing program that bought all the toxic mortgages was possible only with the tripling of our monetary base that debased our currency and effectively stole a little bit from everyone to reward wall street bankers.

The FDIC's guaranteeing of bank debt is just another example of privatized profits and socialized risks. If the banks failed, tax payers are left holding the bag of losing assets while profits go into bankers' pockets as bonuses.

Again I ask, where is the justice??!

Posted by: stevieb at February 5, 2010 10:23 PM

The government (state and local) gets about 1/2 of those bonus payments back through income taxes.

Posted by: Boerum Hill at February 5, 2010 11:36 PM

Great. The pickpocket on the street takes $2 out of your pocket
and slips $1 back and says "look! I am helping you out here!" "be grateful
that I am stealing from you because I am returning half of what
was stolen back to ou!"

moreover the money given to wall street banks belong to the American
people while the Ny city and state government get an inordinate
share of the taxes. That is not fair for the rest of the country.

The tea party movement is a reaction to this fundamental inequity.
We are going to throw out all these clowns, Schumer, Geithner, Summers
Bernanke, Obama out of office and build a better country.

Posted by: stevieb at February 6, 2010 8:23 AM

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Posted by: daveinbedstuy at February 6, 2010 8:49 AM

bainbridge is still listed at the same price!

http://corleyre.com/2010/01/02/for-sale-4-family-townhouse-bainbridge-street-stuyvesant-heights-brooklyn-ny-11213-crg1002/

the listing reads "A significant value available in today’s market." perhaps the broker is selling this from the future.

Posted by: pacificist at February 6, 2010 10:01 PM

« 380 Clinton Avenue Now $1 Million Cheaper Open House Picks »

February 5, 2010

Open House Picks: Six Months Later

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