Brooklyn Life


There was a discussion on the Harlem Home bulletin board this weekend about the taxes on 4-family versus 3-family homes. The bottom line: Taxes are calculated on a property’s assessed value, not its market value. The assessed value of a 4-family is calculated by taking 45% of the market value while a 3-family is based on 6% of market value. Pretty good reason to combine a unit or two–even if it means a reduction in rental income.


Brownstones are coming to Orange County, California. Architect Michael Woodley, who designed 36 stone and brick “East Coast brownstones” in Anaheim, attributes the trend to increasing density. Michelle Louis, a 26-year-old financial analyst who bought a three-story brick front rowhouse in a development in Tustin, had her own motivations: “The appeal to me is that it was different. It wasn’t the pink stucco you see all over Irvine.”
Stone to Stucco [Orange County Register]


An eagle-eyed reader tipped us off to these two posts–only a day apart–on Craiglist for the same house in Lefferts Garden. Fillmore (who has the keys to the house) has it listed at $699,000 and discloses in the ad that it needs at least $300,000 of work. Another broker has it listed for $899,000 and tells interested parties that they must RSVP to him/her–which as we all know locks you in to dealing with that broker. If anyone knows who this “Plazasites” person is, we’re dying to know.
Fillmore for $699K [Craigslist]
Plazasites for $899K [Craigslist]