I would say that less than 10% of homes in Park Slope have check valves. Probably more than 50% still have lead water mains.

Check Valves are not a construction quality or code item so an inspector would have no reason to “flag” it. There definitely seem to be other foundation leakage problems with the house but (from the short video) it looks like most is coming in from the cellar front door.

Posted by: Mr Joist at November 17, 2009 4:10 PM in response to Footage from 357 4th Street Condo Lawsuit

It looks like most of the water is coming up from an under stoop drain (if you pause when he opens the door you can see the water ‘mound’ over the drain hole).

This happens VERY often in Park Slope when it rains heavily. The combined storm-sewer system is overloaded and you get a “backflow” condition where sewer water runs INTO your drain pipes instead of out.

Most of this can be prevented with a plumbing item called a “check valve.” Any good plumber will be able to install one on your main drain line. One drawback: Until the flow resumes it’s normal course (out, not in) you can’t use your plumbing fixtures. That said, it normally subsides after an hour or two.

There also looks to be water coming in from the HVAC PVC lines from foundation hydrostatic pressure (a bigger deal and not as easily corrected).

Posted by: Mr Joist at November 17, 2009 3:49 PM in response to Footage from 357 4th Street Condo Lawsuit

oh *rob* you never miss a chance to burnish your 4th Ave 40 oz. street cred, do you?

Posted by: Mr Joist at October 6, 2009 7:59 PM in response to Development Watch: 150 4th Avenue Rising

How do some of you know the racial-socio-economic makeup of the entire tenant population of this building? Oh wait, you don’t.

Chill out re: the “trust fund hipsters got what they deserved” … they’re still homeless tonight. Sucks regardless.

Posted by: Mr Joist at September 25, 2009 1:33 PM in response to DOB Shuts Down Sweater Factory

M4L:
True … but didn’t I specifically exclude all wacky transactions outside the boundaries of my preconceived notions of value? :-)

Seriously though, maybe I should have rephrased to include only deals available to the "general public" … not sales to family members and the like. Not sure if this was that type of deal but seems likely given the price. If this WAS listed somewhere, Muffett is bummin’.

Posted by: Mr Joist at September 24, 2009 6:56 PM in response to Brooklyn Sales: Under a Million

Google Image search “Della Dare” RIGHT NOW!

Real Live Girls! Real Live Tunes!
A night of live music and burlesque
Friday September 25th, 8-11pm
Bar 4 in Park Slope, 444 7th Ave. (@15th St.)
Featuring the burlesque stylings of:
Cozy Josie
Darling Daphnie
Della Dare

Posted by: Mr Joist at September 24, 2009 6:47 PM in response to Closing Bell: Burlesque in the Slope

quod erat demonstrandum my triple-posting friend.

Posted by: Mr Joist at September 24, 2009 4:01 PM in response to Inside Third & Bond: Week 102

Park Slope 323 7th Street seems cheap. What gives? Estate condition + no broker listing = under market sale? Zillow has it at $1.15 and they are not known to overestimate townhouses.

Posted by: Mr Joist at September 24, 2009 3:59 PM in response to Brooklyn Sales: Under a Million

Get a life you two (THAL & tybur6). Which takes longer? Reading & ranting about a Brownstone post you don’t like or …… drum roll ….. not clicking on the link?!

Don’t love the model yard but the cedar plank is nice (although it looks to be 1/3 then 2/3 width in the back which is a weird effect). And the yards are big.

Posted by: Mr Joist at September 24, 2009 3:45 PM in response to Inside Third & Bond: Week 102

I did get my information from an unbiased source, the New York City Independent Budget Office, linked in my last post.

On the bottom of page 3 of the report is a list of all the "costs" related to the project.

I don't count the City and State Capital Contributions for Arena because these are a combination of infrastructure upgrades (sewer, power) and the construction of the deck over the rail yards (debatable). Some of this should probably be counted but there is no breakout.
Loss of Existing Property Taxes on Arena Site = $13MM
Tax-Exempt Financing for Arena = a federal tax cost from forgone tax on the interest payments received by buyers of the bonds. $0 before, $0 after issue.
Arena Property Tax Exemption = $0 before, $0 after issue.
Mortgage Tax Exemption for Arena Financing = $0 before, $0 after issue.
Sales Tax Exemption for Arena Construction = $0 before, $0 after issue.
MTA "loss" on Rail Yard (Arena Portion) = $10MM
Opportunity Cost of Transfer of City Property & Streets to FCRC = $6MM + $3.7MM = $9.7MM

So: $13MM + $10MM + $9.7MM = $32.7MM on a present value basis. Small potatoes.

On a pure financial analysis, I don’t care that the “benefit” to Ratner is calculated at $726.3 million … I just care about the cost to me, the taxpayer, which is $33MM.

Posted by: Mr Joist at September 23, 2009 2:32 PM in response to Mikhail Prokhorov's Unique Offer

I’m still not seeing the logic.

We have no arena now, so no property tax now. No arena now, so no mortgage recording tax now.

Foregoing the collection of these taxes is an opportunity cost but NOT an out of pocket cost to taxpayers. We had $0 before and we’ll have $0 afterwards if it all gets cancelled.

The REAL out-of-pockets cost are the things we’ll lose such as:

Loss of Existing Property Taxes on Arena Site ($13 million over 29 years)
MTA "loss" on Rail Yard (Arena Portion) ($10 million over 29 years)
Contributions of City Property (streets) ($9.7 over 29 years)

The present value of these losses seems miniscule.

Anyway, I haven’t decided if I’m for or against yet but I won’t be making my ultimate decision on the financial impact.

www.ibo.nyc.ny.us/iboreports/AtlanticYards091009.pdf

Posted by: Mr Joist at September 23, 2009 1:54 PM in response to Mikhail Prokhorov's Unique Offer

Legitimate question.

Many posters (bxgirl) keep using the terminology “we (taxpayers) are PAYING for this arena.”

Aren’t most of the benefits to Ratner (besides the costs to upgrade infrastructure) the result of tax exemptions?

It’s not like the City and State are cutting a check to Ratner … they’re just foregoing extra money they WOULD HAVE received (such as mortgage recording tax, property tax, etc.). Further, if we had the status quo (no Ratner), these additional City/State revenues would not have been available to collect anyway.

Also, I just read the New York City Independent Budget Office report and the Net Impact to the City/State/MTA is $8.3 million. This seems minor.

Say what you want about eminent domain, design, process, etc. but I don’t think making the financial argument carries the day when bashing Ratner/Russians/The Plan.

Posted by: Mr Joist at September 23, 2009 1:24 PM in response to Mikhail Prokhorov's Unique Offer

Isn't a $2.5MM ask cheap (or at least not crazy) for a 19 footer in the Heights? Aren't these usually more?

Posted by: Mr Joist at September 18, 2009 3:41 PM in response to Open House Picks

Doh! I was thinking of The Cooler – is that place still around? Save the Robots was on Ave B, right?

Posted by: Mr Joist at September 18, 2009 1:09 PM in response to New Gowanus Club is Getting There

Are you talking about Florent?! I loved that place. Save the Robots … geez … only time I even danced in a repurposed meat locker (as far as I remember). Very happy 3rd Ave is blossoming with places like this.

Posted by: Mr Joist at September 18, 2009 12:33 PM in response to New Gowanus Club is Getting There

I don’t get this either. Is it supposed to have an environmentalist message? All I see is self-righteous hipsters wasting a ton of sod.

Posted by: Mr Joist at September 18, 2009 12:21 PM in response to Park(ing) Day on Fulton

The 15’ width is a bummer but I don’t see any big issues with the façade. This house is one of four matching townhouses with light decorative brick bands and a nice cornice.

Some new windows and a few window flower boxes and this could be a gem. I think New Millennium R/E is across the street, hence the listing.

Also, closing fees, taxes and a full gut of three floors plus some façade work = at least $600k so the question is: Is this place in pristine renovated shape worth $1.8 million?

Hard to tell without pics but I say it sells for a bit over $1 million.

Posted by: Mr Joist at September 15, 2009 3:14 PM in response to House of the Day: 434 4th Street

We keep calling Benson out on his stupidity and his only response is:

“THL: Have a lovely (remainder of) the day! My mud-slinging sensor is ringing, so it's time to shut down the debate.”

“Mr. Joist: No point in "debating" you. Have a nice day!”

Do you have a form letter or Magic 8 Ball or something? Better keep them handy if you continue to post nonsensical drivel.

Posted by: Mr Joist at September 8, 2009 5:31 PM in response to Renters Become Their Own Landlords

Poor Benson, you bare your foolishness with your last two posts:

“There is no right or wrong answer … I have a 25 year-old daughter … I am pleased with her maturity.”

“Despite what Mr. Jerk - er Mr. Joist - states above, no one is begrudging them that good fortune. The question is when will they decide to make something of themselves …“

TAKE-AWAY: I’m sooo proud of my scrappy-do daughter. She has pluck, she is resourceful, I am the better parent. Also, a Masters from Columbia and teaching at a public school is not “making something yourself.” Trying to act is a spoiled rich kid’s dream. Lastly, I am a sanctimonious as*hole.

Posted by: Mr Joist at September 8, 2009 11:53 AM in response to Renters Become Their Own Landlords

A throw-away NYT story without much relevance BUT the tidal wave of bitterness/jealousy/hypocrisy on this thread is more telling than anything in the article.

So very Park Slope to 1) get some BStoner street cred dissing the protected Daddy’s girls; 2) attack the rich; and 3) give heaps of “parenting” advice.

Well done! All have conformed to their pre-assigned stereotypes. Next.

Posted by: Mr Joist at September 8, 2009 10:46 AM in response to Renters Become Their Own Landlords

BHO usually annoys me but that was a funny joke.

Re: Water & Property Taxes: water on a FULL townhouse is maybe $1,000 a year and R/E taxes are ~$3,000. Those two going up are not influencing any buying decisions at these price points.

Income Tax is another story … good thing Albany is paralyzed by incompetence (for now).

Posted by: Mr Joist at September 2, 2009 5:28 PM in response to Co-op of the Day: 56 Garden Place, #2

Nice house BUT:

1) This is not even a $3 million house, let alone $3.5.

2) I don’t see central A/C BUT I do see old two-pipe steam heat system and radiators … deal breaker at this price point (welcome to my $3.5 mil house, can you help me with my window AC unit?!)

3) Deck screams crappy rental

4) Fugly bathrooms

5) No garden pic = it’s probably lame

6) No pic of “renovated” kitchen is inexcusable (broker should be fired on that alone)

7) That said, this place will never go for $1.5 mil, keep dreaming.

Posted by: Mr Joist at August 31, 2009 2:48 PM in response to House of the Day: 212 8th Avenue

I'm with DIBS on this one. At the $2MM+ price point, a buyer expects central air, nice master suite, good closets, etc. Retrofitting central air is a pain, even with a split-system (Mr. Slim).

I don't get these posts where people say "This is a brownstone so "___insert comment about how there is no need for a certain luxury___". The pool of buyers at these price points that will overlook basic luxuries because you have the perfect crown molding or original mantle is a small, small group.

Posted by: Mr Joist at August 24, 2009 11:21 AM in response to Open House Picks

Is that a WINDOW A/C unit + steam radiator I see in pic 5 of 7 in the Corco listing?!

That's a Deal Breaker on a $2MM+ house.

Posted by: Mr Joist at August 19, 2009 2:19 PM in response to House of the Day: 180 Washington Park

Quote: ***keep chuckling over this one. My thinking is that buyers at this price point are not wasting any time online looking at photos! More likely than not, the chosen brokerage is dealing with the prospective high end buyer via the buyer's personal assistant(s), etc. At the point the prospective buyer gets directly involved, there's no need to look at online photos to figure out if the house is a match. Instead, it's on a list of 2 or 3 "A" list properties which have been thoroughly vetted by the "service class."***

I think you'd be surprised. If the buyers are old money or just old, then you're right. But do you think the Google millionaire who bought the Connelly mansion didn't spend days researching the house, using Zillow, PShark, Gmaps, etc.? The same goes for some controlling young rich hedge fund type. The new money and younger types want information NOW and access to lots of pictures, floorplans, data, etc. In any event, I think it does the sellers a disservice to restrict information and assume an assistant will do the homework.

Posted by: Mr Joist at August 18, 2009 5:59 PM in response to House of the Day: 315 Garfield Place

"There's a video link on the listing which gives you a tour of practically the whole house. You don't think that's better than photos?"

If I thought it was better I would not have said so. The video didn't show baths and was way too fast. Plus, pausing the video to see details brought up an Open House NYC overlay.

A listing like this (5 floors) should have 20+ pictures. Mechanicals detail, etc. I'll never understand $4+ million listings that don't have more than a dozen well-lit & staged photos. Buyers at this price point want a full and complete presentation online. Actually, at the price point there should be a separate website for this house.

Posted by: Mr Joist at August 18, 2009 2:21 PM in response to House of the Day: 315 Garfield Place

This listing is so stale it's crunchy. Sellers are going on an extended fishing expedition.

And what's with only 5 interior pictures?! Lastly, nice walk-in closets BUT lame "master bathroom" (no tub and no double sink and no window). Small garden because of extension.

Posted by: Mr Joist at August 18, 2009 2:11 PM in response to House of the Day: 315 Garfield Place

Chill out re: the music people ... they included a mute/pause bar at the bottom.

My advice: have the renderings on the left side of the page after the contact form comes up. People want to see those pictures without having to re-load the page.

Posted by: Mr Joist at August 13, 2009 1:43 PM in response to Inside Third & Bond: Week 96

Hah! ... and The Park Slope Civic Council wants to landmark the rest of Park Slope ... No Thanks!!!

Posted by: Mr Joist at August 12, 2009 3:45 PM in response to Limestone Facade

Verizon has FIOS service on 3rd Ave.? Or did you do a special deal with them?

You can't even get FIOS in Park Slope yet.

Posted by: Mr Joist at August 6, 2009 2:35 PM in response to Inside Third & Bond: Week 95

25 Willow Place
What am I missing? From Google StreeView it seems in ok shape. Facade looks ok, same with windows and cornice.

It's the lot right next to the big warehouse building, right?

$700k on renovation and you have a 4-story townhouse in Brooklyn Heights for under $2 million.

Posted by: Mr Joist at August 4, 2009 6:35 PM in response to Last Week's Biggest Sales

Top floor tenants means "locked" entry to your parlor. Would suck to pay this amount for a house and then have it feel like a condo. Plus, three-family means fire-escape (ugly) or sprinklers (ugly). Also, owner bedrooms on the semi-dark garden floor = lame.

AND - is that a steam radiator in the parlor? For this amount of loot, the house needs central HVAC.

That said, nice exterior and good location.

Posted by: Mr Joist at August 3, 2009 2:02 PM in response to House of the Day: 225 Garfield Place

Hah! Ok, I hear you on the 'Black Swan' type of seller event BUT in a competitive market, buyers will compete amongst themselves to raise the price to "market" even if the seller is in desperate straits UNLESS market demand is so weak that the "market-clearing" price is under $1MM, which is still what I think will not happen in the next 10 years.

Anyway, I now have a few good reasons to make my first appearance at a Brownstoner drinks thing to make our $1k handshake wager (no lawyers needed!).

Posted by: Mr Joist at July 21, 2009 6:00 PM in response to Last Week's Biggest Sales

more4less: ok, 10 years it is ... but seriously, we're going to each give Brownstoner $1,000 and check back with him in July 2019? If he (or someone else trustworthy) agrees, I'm game. If not, it can be a "gentlemen's agreement" ... we can exchange contact info, etc.

Also, just curious, why is the 10 year period so outrageous & juicy?

Lastly, finally, some "Bear/Bull Money Where Their Mouth Is" correspondence. Where's "Miss - I have 1 million dollars - Muffet"?

Posted by: Mr Joist at July 21, 2009 5:38 PM in response to Last Week's Biggest Sales

Also, I said 10 years in my original post ... that's a bit long for a bet like this ... please suggest a reasonable timeframe.

Posted by: Mr Joist at July 21, 2009 4:31 PM in response to Last Week's Biggest Sales

More4less said: "Mr Joist, you serious with the wager? we put the wager $$$ in an escrow account? am asking cause I'm seriously interested in taking the full $10k bet"

Yes, I'm serious but only $1,000 per customer (but up to 10 customers). I'm happy to have Brownstoner as escrow agent.

Only question is how we define "habitable." I'm not talking about some broken down sh*t show with rent stabilized tenants that will take $400,000 to rehab (but I'm not talking mint or renovated either). If we can agree on a definition of "habitable" with reasonable specificity, I'll cut a check tomorrow to Brownstoner escrow agent.

Bet of the Day: A habitable (not a shell) 3-story townhouse, in Park Slope area bounded by 5th Ave - 7th Ave, north of 9th Street, can buy purchased for $1 million or less.

Posted by: Mr Joist at July 21, 2009 4:28 PM in response to Last Week's Biggest Sales

I love it ... even in a recession CG is merging with PS thru Gowanus.

Lots going on ... Bell House, galleries, etc.

Posted by: Mr Joist at July 21, 2009 2:07 PM in response to StreetLevel: Abilene Folks Opening a Bar on 3rd Avenue

Muffet said: "M4L - if you don't need a mansion on the park (so, let's say a decent 3 story below 7 ave), I think buying a house in Park Slope for 1mil is no longer out of the question in the near future."

Bet of the Day: A habitable (not a shell) 3-story townhouse, in Park Slope area bounded by 5th Ave - 7th Ave, north of 9th Street, can buy purchased for $1 million or less.

Keep dreaming, not going to happen. I'll take 10 bets at $1,000 each that this doesn't happen in the next 10 years.

Posted by: Mr Joist at July 21, 2009 2:05 PM in response to Last Week's Biggest Sales

hmmmm, 2 park block Park Slope townhouses, one on 1st street and one on 4th street.

1st Street goes for $3.5 million, 4th Street goes for $2.3 million.

Why the big difference? Square footage? Condition?

Posted by: Mr Joist at July 21, 2009 11:51 AM in response to Last Week's Biggest Sales

Why the picture (above) of that new 4th Ave building for this news item? Is that project stalled?

Posted by: Mr Joist at July 20, 2009 11:21 AM in response to Council Readying Stalled-Development Bill

Double homicide 1 block from $2 million+ condos at Richard Meier On Prospect Park?

Do you think Corcoran will put that in the sales literature?!

Posted by: Mr Joist at July 20, 2009 11:09 AM in response to Monday Links

daveinbedstuy "And how long does the average superfund cleanup take?????"

I can't believe I just read a GAO report on the Super Fund.

Answer: 10.6 years, on average.

www.gao.gov/archive/1998/rc98074t.pdf Page 6

Anyway, probably longer in Brooklyn but if the EPA/City had started when 4th Ave was re-zoned (~2003) we'd be at least 1/3 done by now. Gotta' start sometime.

I'm not anti-development but I agree it makes no sense to build yuppie pads on a toxic site. And not labeling it a Super Fund site doesn't make the bad stuff go away. EPA clean-up first, then yuppies and Whole Foods or whatever.

Posted by: Mr Joist at July 9, 2009 11:52 AM in response to As Predicted, Whole Foods Bailing on Gowanus Site

NYT - On the Gowanus Canal, Fear of Superfund Stigma, Published: April 23, 2009

“It’s very common to have the division between those who see it as terrible and those who see it as an opportunity,” said Kris Wernstedt, an associate professor of urban affairs and planning at Virginia Tech’s Alexandria campus who specializes in Superfund and brownfield issues.

Studies have shown that property values decline after a Superfund listing but rebound after the cleanup, sometimes to far higher levels, he said.

Posted by: Mr Joist at July 9, 2009 11:03 AM in response to As Predicted, Whole Foods Bailing on Gowanus Site

Slopefarm, I said the nimby's got what they wanted ... no Whole Foods, no big parking lot, no increased car traffic, NOT that they "caused the demise" of the project.

Don't you know that correlation is not causation?!

Anyway, I say Super Fund it and clean it up so real re-development can start again. The City and Toll Brothers are full of crap. The City had 80 years to "fix the sewage overflow problem" ... why all city money and promises now that the Feds are looking to clean it the right way?!

Posted by: Mr Joist at July 9, 2009 10:57 AM in response to As Predicted, Whole Foods Bailing on Gowanus Site

Oh iz ... how you sway me with your Google Maps ... but wait ... when I change "by car" to "walking" your link is 38 minutes each way.

The Whole Foods was meant to service Park Slope and Carroll Gardens ... i.e. loaded people WALKING down from 7th Ave and such. That's like a 50 minute walk each way to Fairway.

Yes, they were counting on car traffic from other 'hoods but also heavy bike and foot traffic from Park Slope and Carroll Gardens. By your logic, no one should be shopping at Met Food (or whatever it's called) on 5th Ave. in Park Slope if Fairway is so close.

Anyway, pointless to debate a dead project.

If the canal ever gets cleaned up it will experience a transformation that will make it a desirable place to live, yuppies or no yuppies.

Posted by: Mr Joist at July 9, 2009 10:50 AM in response to As Predicted, Whole Foods Bailing on Gowanus Site

Fairway is in Red Hook, hardly a "few blocks away."

Any way you cut it, this is not good news for the re-development of Gowanus. Yes, there are a ton of bars and hotels and arts spaces opening but this would have given the area a jump-start and cachet. I just hope they can get the Superfund cleanup done in the next decade (is 5 years too optimistic?) so growth can resume.

Guess the nimby's got what they wanted ... No big parking lot ... Just an empty toxic lot!

Posted by: Mr Joist at July 9, 2009 10:17 AM in response to As Predicted, Whole Foods Bailing on Gowanus Site

"I'd value it at 1.6-1.7 max now, 1.4-1.5 max 1-2 years from now."

Muffet:

Care to make a $1,000 wager that if this house sells, it sells at or above $1.7 million?

Posted by: Mr Joist at July 8, 2009 7:07 PM in response to House of the Day: 448 6th Street Revisited

Starbucks! Starbucks! j/k

Question: Do you think someone would really build "retail only" here? 1-2 stories, etc. with no residential on top?

Isn't that what they tried on the other side of the street in front of Pep Boys and failed?

Prediction: another hole in the ground for awhile ... Bummer.

Posted by: Mr Joist at June 26, 2009 11:42 AM in response to What's Going on at Katan's No-Go 6th Street Site?

Some people see a school nearby as a liability, some see it as an asset.

I'm in the asset camp:

1) No nosy neighbors looking into your front windows

2) Ability to use school grounds at off-times (shoot hoops, play catch, etc.)

3) Cleaned and maintained by staff, protected (less of a chance of drug dealers, loud bars opening)

4) Loud at certain times (morning drop-off, lunch, end of schooldays) but super quite all summer

It's really not an issue unless you work from home. And even then it's only noisy a few times a day.

Posted by: Mr Joist at June 25, 2009 1:41 PM in response to House of the Day: 460 2nd Street

Gowanus Nursery is beyond expensive and way overpriced. Speaking of bamboo, went there last week ago and a 3 gallon container of VERY young bamboo (maybe 4 feet high, 5 pencil thin shoots) was $60!!!!

Posted by: Mr Joist at June 8, 2009 3:28 PM in response to Quickie Garden Update