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August 14, 2007
newcomer wants to know neighborhood nuances
I'm about to get in contract on a lovely browstone in Ft. Greene on Clermont. I would have my son live there instead of paying rent on Pacific in Boerum Hill. Asking price is $1.5MM for 3 units w/ owner's duplex. I heard Boerum Hill is much nicer than Ft. Greene. Is that true? Am I in the ballpark w/ price? I don't trust the realtors.
Comments
I think it's a fair price for something that doesn't need a lot of work and is delivered vacant.
Posted by: guest at August 14, 2007 9:04 AM
two qestions spring to mind:
1. did you buy a 1.5 million dollar house unseen?
2. will you adopt me?
IMO Boerum Hill is for visitin', not livin'. Ft. Greene's getting that way, but a brownstone sure would take the edge off!
Posted by: Jimmy Legs at August 14, 2007 9:20 AM
Lol- I did see it & it looks great compared to everything else I saw but it was 1 visit & that can be tough to get a true feel of the market. It is in great shape and will be vacant except a lol 85 yr old in the basement unit. That's allegedly why it is "not $2MM" (per realtor)
I have a waiting list of adoptees.
Posted by: Stess at August 14, 2007 10:01 AM
Can't go by which neighborhood is better. Those are generalizations and preferences.
Each has blocks that are edgier and not quite pleasant/pretty and other blocks that are wonderful. So go by what you see around house you like. Those 2 neighborhoods are similar enough and easy walk from and to each other.
You have some real upside potential once the 85 is no longer there if you are looking long-time frame.
Posted by: Petebklyn at August 14, 2007 11:09 AM
Depends on the block of Clermont and condition of the building, but 1.5MM in Fort Greene for a four story brownstone is relatively cheap - clearly it reflects the fact that there is a tenant in the building that you will inherit. What block is it on?
Also, a two family configuration (triplex over garden apartment) will generally cost more that a three family, though there is nothing preventing you from using it as a two family instead of a three if you desired to do so. You just can't have more units that three. From an income perspective (sounds like you will not live there, just your son and two other tenants in the other two units), a three family might better suit your needs.
I personnally prefer living in Fort Greene to Boerum Hill, but that's really a personal preference. Both are nice neighborhoods so I would not get hung up on that.
Posted by: guest at August 14, 2007 12:30 PM
Between Lafayette & Dekalb is a very nice block to be on...and maybe one block south. What condition is the house in?
Posted by: guest at August 14, 2007 6:49 PM
Here's my take: Both are great neighborhoods, but I'm partial to Ft. Greene (I live in Clinton Hill). Boerem is particularly great for someone who needs super-easy access to multiple subway lines-- FG is served only by the C and G. But I find BH to be a bit less neighborhoodsy, a bit too close to downtown, and extremely congested with cars. And anecdotally it looks to me as if Boerem Hill is more expensive.
To my mind, FG is more pedestrian-friendly, has a special, almost best-kept-secret-in NYC vibe (even now, when obviously it ain't much of a secret). The park is a fabulous focal point for the hood, the farmers market is small but delightful, and the population is a great, diverse collection of artsy types, biz types, literary types. Probably my favorite thing: I just love the feeling of DeKalb Avenue during spring/summer/fall in the evening, with people spilling out onto the sidewalk cafes, kids shooting hoops, Pratt students posing with their journals at Tillie's. You couldn't drag me out of here at this point. Good luck on ya.
Posted by: Rehab at August 15, 2007 12:53 PM
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