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]
As far as I know that restaurant deal is still being negotiated. I’ve got my fingers crossed.
I heard something was opening down the street from K-Dog in the space where “Tropical Spice” restaurant used to be. There has been a for rent sign there forever.
That’s exiting!
Ed, do you know where in PLG, this new place is going to open ?
I heard PLG is getting a hip, new restaurant w/ a bar. I bet it will become very popular very quickly, just like the cafe that recently opened.
Suzy – PLG has seriously urban areas (e.g. Flatbush Ave.) and wonderful tranquility (e.g. side streets in the manor, the park). Plus it’s a quick commute to the city. Frankly, I love it. The only other place that I can think of which has that sense of tranquility at a relatively affordable price is Ditmas Park, but it’s another 15 minutes on the train and not within walking distance to the park. Oh I forgot about Windsor Terrace – wonderfully tranquil too and next to the Park, but quite a long ride to the city on that F train. Good luck with your decision! If you go for that Maple Street house, I’ll cerainly envy you!
Re: the Massey listing – the broker (Kevin Holmes) has a couple of expensive conversion properies. These are usually not “must sell” scenarios, and Massey appears to be content to wait for the right price and the right developer. My guess is that these properies WILL sell for top dollar. It’s just a question of when. One of their development sites has been on the market for at least a year. When they finally do sell, you’ll know PLG has turned another corner.
oh, and that house on maple avenue (brown harris stevens has the listing) is making me CRAZY! what is that picture, a porte-cochere? ten years ago i would have been living in the “servants’ quarters” in that puppy – now i can live in the whole house! but NOT in brooklyn heights, or even fort greene or clinton hill. see what i’m sayin’?
thanks, anon 11:50. thing is, i really AM on the fence. i’ve got about 7 spreads on the idea – but in the city, a house with a really really BIG yard/garden could work for me, so long as the house had windows so’s i could watch the weather. have to consider the husband, too – he doesn’t drive, doesn’t want to, but he will if it makes me happy. i know, i’m all over the place, but i want to choose the place that makes us both happy.
okay, that last post had a bit o’ confusion in the green acres reference – trying to do too many things at once. setting up my trades for next week, baking pies, doing some book work on our businesses, okay, i am an ADD multi-tasker, but, then – BEER, and vaudeville becomes burlesque.
i really am very interested in PLG. tell me, please, does the hood need a restaurant? would it do slammin’ business, or is it still a little early?