House of the Day: 663 Rugby Road
After a fire gutted the single-family house at 663 Rugby Road last summer, the non-profit that owned it sold it to someone in December who did a quick renovation and put it on the market for $1,249,000. As a result, there’s not an original detail in sight. For that price in this area, we’d want…
After a fire gutted the single-family house at 663 Rugby Road last summer, the non-profit that owned it sold it to someone in December who did a quick renovation and put it on the market for $1,249,000. As a result, there’s not an original detail in sight. For that price in this area, we’d want a little more character. Think anyone will bite? There was an open house yesterday. Anyone go?
663 Rugby Road [Kestyn] GMAP P*Shark
The house is in a good neighborhood. It’s true, there are some drug sales in the area, but the 70th Precinct serves the area. The 70th is a precinct used for “training” which means there have been a large number of police on Rugby patrolling from the subway station at Avenue H to the subway stop at Newkirk Plaza (Foster Ave).
Moreover, the chief of police, Joe Esposito, lives on one of the side streets off Rugby, just up the block from this house. It makes a difference.
Yeah, just like certain areas of 4th Avenue or Carrol Gardens or Cobble Hill. There’s hardly a neighborhood in NYC that isn’t a few blocks away from “straight up hood.”
“Some of the finer residents of the apartment buildings on Rugby across Foster Avenue have discovered the benefits of completing drug transactions where no security cameras can record their activities.”
…drug deals go down everywhere around there…you people just dont want to open your eyes and realize that a few blocks from there is the straight up hood. Anyone who does nto post in this forum would be the first to tell you that.
Some people say ‘Modern’ when they mean ‘newly renovated’
And newly renovated is not necessarily nice.
Uhhh, I don’t think that’s actually the point 5:50, although congrats for winning a technicality.
The point is, you can pay $700,000 to well over a million for a one or two bedroom in Park Slope that is probably no bigger than this house’s first floor. You could certainly spend about half a mil on a studio in parts of Manhattan. Why? Because of the location. Because of what’s in the neighborhood. Sometimes certain flaws about an apartment are overlooked precisely because of what’s in the neighborhood. Is it close to a subway? To restaurants? To good schools?
Regardless of the asking price for this place, to discount the idea that it’s what’s in a neighborhood that ALSO affects a home’s value speaks of a general ignorance of real estate.
“crappy 600 square foot studios go for half a million in Park Slope”
Uhhh, no, actually they don’t.
Regarding the snarky comment about the French bistro, surely amenities in a neighborhood affect a home’s value. Not that one French restaurant justifies any asking price under the sun, but crappy 600 square foot studios go for half a million in Park Slope and the price probably has little to do with the physical characteristics of the building. “Location, location, location,” right? You can’t discount a gentrifying neighborhood when figuring out how much you’d pay for a place.
2:58 – Good point. Perhaps some Brownstoner readers will be able to express themselves more effectively as a result.
If it goes for that price, I’ll eat “The What’s” words.
Not gonna happen.