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July 27, 2008
Beverly Square West - Landmark Status?
I'm wondering what the chances are that Beverly Square West will be ever be granted landmark status and if home values are less in the Victorian neighborhoods that don't have landmark protection (e.g Ditmas Park West, Beverly Square West, etc.). Seems like it would be a big risk to buy in these areas.
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Residents of both of these neighborhoods are trying to get landmark status, but of course any decision is up to the Landmark Commission. It's a long slow process.
I wonder what icrwly sees as a "big risk to buy in these areas? Both have active neighborhood associations, a fine stock of houses, and are currently in the process of being downzoned. What's the risk?
Posted by: MOSHE at July 27, 2008 6:50 PM
I've felt the same icrwly. I too am looking in the area and wondering if I should stick with a landmarked zone. A benefit might be the ability to change a 1 family into a 2 family if it is not yet landmarked. I think eventually they will get around to landmarking most of those areas.
Posted by: bqe1970 at July 27, 2008 7:24 PM
The risk is that there would be more of this:
http://home.att.net/~ebasics/hallofshame.html
Posted by: icrwly at July 27, 2008 7:30 PM
Yep those houses are pretty bad and should be outlawed. Have you been hitting the open houses icrwly? What do you think of the 2 family on Argyle off Cortelyou? Or the one family on ditmas avenue?
Posted by: bqe1970 at July 27, 2008 7:41 PM
Yep those houses are pretty bad and should be outlawed. Have you been hitting the open houses icrwly? What do you think of the 2 family on Argyle off Cortelyou? Or the one family on ditmas avenue?
Posted by: bqe1970 at July 27, 2008 7:42 PM
My wife has seen both. She liked the one on Ditmas Ave (one family + apt) a lot more. Her report on Argyle was big, weird layout, needs a lot of work.
Posted by: icrwly at July 27, 2008 8:11 PM
Landmarking rarely effects internal uses - that is governed by a building's certificate of occupancy and any potential title covenants (as in PLG).
Posted by: Putnamdenizen at July 27, 2008 8:13 PM
Hi, icrwly, I agree with your wife. The argyle has the income potential, but wow, what a weird layout, I saw it 2x and still didn't grasp it. thanks for clarifying, putnamdenizen, good info.
Posted by: bqe1970 at July 27, 2008 9:08 PM
Speaking of weird... This one is on Marlborough Rd in Beverly Square West. Haven't seen the inside, but I drove by and there was a "beware of dog" sign in the window. I would assume that they would take a low offer though since it is in such bad shape it faces the subway tracks.
http://brooklynproperties.com/house172.htm
Posted by: icrwly at July 27, 2008 9:36 PM
Landmarking overlays zoning; it doesn't replace it. Zoning, not landmarking, determines residential use. That said, the largest and best-known landmark districts in the area of Beverley Square West - Prospect Park South, Ditmas Park, and the new Fiske terrace-Midwood Park - are all zoned only for single-family use, either R1-2 or R2. So no rental income to help pay for landmarks-approved repairs and restoration.
Posted by: Xris at July 28, 2008 8:01 AM
Generally speaking, houses in landmarked areas do sell for more than those in non-landmarked areas. In the case of Victorian Flatbush, there are homes in the non-landmarked areas that have sold for more than those in the landmarked areas. The condition of the home was key.
BSW is probably the nicest of the non-landmarked areas and is close to Cortelyou but centrally located so that walking to Newkirk or Church is convenient. Also as a previous poster stated, they have a very active neighnorhood association who among other things sponsors holiday parties, the security patrol and other community events. Many of the BSW homes were originally built as legal two families which gives owners more space than a Brownstone unit and a nice sized rental.
The house on Marlborough adjacent to the train tracks is the worst on that block and it needs a lot of work but even then a more appropriate price would only be about 175K less than listed.
Posted by: Chaka at July 28, 2008 7:30 PM
I just can't deal with the train, it would annoy me too much. Many of the one families have a "hospitality suite" that the owners rent out to a student. There is usually no issue with this. People take issue when they turn it into a rooming house.
Posted by: bqe1970 at July 28, 2008 8:38 PM
Thanks for your input, Chaka. You make some good points.
Posted by: icrwly at July 28, 2008 9:02 PM
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