Marketing PLG a Century Ago--And Now
Bob Marvin comes through again! Our discussion of 68 Midwood Street on Monday prompted the hardcore brownstoner to scan this ad he had in a frame on his wall. The advertisement shows 68 Midwood and its neighbors at top and some smaller houses one block over. The former were offered for $11,000 and the latter…
Bob Marvin comes through again! Our discussion of 68 Midwood Street on Monday prompted the hardcore brownstoner to scan this ad he had in a frame on his wall. The advertisement shows 68 Midwood and its neighbors at top and some smaller houses one block over. The former were offered for $11,000 and the latter $7,500. According to our calculations, if 68 Midwood Fetches its asking price of $1.495 million, the house will have appreciated at an un-bubblicious annual compounded rate of just under 5%.
In other PLG news, The Post gave the nabe a glowing profile yesterday:
If you’re panning for real-estate gold, you can strike the mother lode with Brooklyn’s Prospect Lefferts Gardens. It’s an increasingly popular neighborhood full of gorgeous townhouses, but it’s also a place where real-estate bargains still exist.
The article pegs price ranges for Lefferts Manor at between $1 million and $1.6 million and $625,000 and $875,000 for greater Prospect Lefferts. It also notes that there are currently NO condos in PLG–though some are in the works.
HOTD: Midwood Not Mid-Priced [Brownstoner]
PLG: Hot Prospect [NY Post]
Frankly, I think PLG’s “issues” tend to be greatly exaggerated. Like Chinatown, Washington Heights and Jackson Heights, PLG is home to a huge immigrant population. How you feel about Flatbush is directly related to how comfortable you are living in or near an essentially foreign culture or country.
I have days when I love Flatbush because I love the vitalty and days when I just want something comfortable and un-challenging. But at the end of the day, I’d rather have the mix that PLG offers rather than endure too much of one or the other. That’s what makes PLG so special – the diversity of urban life and peaceful side streets filled with architectural gems. But if you’re not comfortable with both sides of the experience, then PLG (and much of NYC) really isn’t for you.
1:46–I couldn’t agree more with your comments! We all need to be upfront and honest about life in PLG–the good and the bad. If we’re going to put ourselves out here as representing the community, we need to tell the whole story. It’s a great area, but it has it’s issues, and it’s better for all of us if those who move to the area know what the issues are beforehand and are ready and eager to help us solve them. Thanks for saying that.
I live on the same block and agree with dt.
We live on the 2nd block of Midwood, and feel no noise impact from Flatbush. Ours is a quiet block, with no “negative Flatbush vibes”.
Sorry about the deletion. Must have gotten swept up in our manual, and highly unreliable, spam purging…thanks for reiterating.
An addendum to my 1:01 comment.
12:48: I do think that we in PLG have been doing all that we can to improve things–and we have been for years. The problems are complex and deeply-rooted, and will not go away overnight. Or in a few years, for that matter.
You seem to be attacking us for “tooting our horns” and also for “complaining too much.†I’d say that we need to try hard to put forth an honest and open picture of the area, both tooting our horns for what is getting better and also acknowledging and discussing the problems that persist. I don’t see that as “complaining.” If we aren’t honest about life here, then who will believe us when we counter absurd charges (like constant gunfire)?
When we purchased our home in the manor 6 years ago, we had the opportunity to buy a limestone in that first row of midwood I. However, we thought it was too close to flatbush (for our taste) so we ended up buying on the second block of Rutland. We love it here!
I agree with the previous poster though, flatbush is a problem for everyone living here.
Bob–thanks for the good news. It’ll be nice to have a break from rottis and jerk chicken.
12:48: I (who wrote the 10:47 comment) do think that placement matters a great deal. When I complain about noise issues, my neighbors down the road don’t know what I’m talking about. But certainly, anyone interested in the area should spend plenty of time here.
it really doesn’t matter what one’s “placement” within the Manor is. the fact is every home is plagued by the negative vibes of flatbush avenue. sure, those who live closer to the apartment buildings feel the heat more, but until change comes, no one should be tooting their horns. instead, your energies should be focused on how you can help bring positive changes to the nabe instead of complaining so much. when plg gentrifies — what will everyone have to talk about?
anon 2:33 pm: if you’re interested in the nabe, don’t count on folks to do your homework. your best bet is to visit the nabe on several occasions, speak to knowledgable realtors (and neighbors) and then determine for yourself if and where you want to live here.