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]
Suzy, I hate to push anyone away, but if you’re looking for “country” I don’t think PLG is the right place. It’s pretty urban here. I have friends who love Nyack and do the commute daily. Also friends (former brooklynites) in Croton and Yorktown (both in Westchester). They love it and do the commute daily too. The ones in yorktown have a glorious farmhouse. Very country, and I think the commute is about 50 minutes. On the othe hand, PLG is great. Good luck.
LOL, not “keeps my husband in the city” as in “away from me”! new york is where he’d rather stay, he gets allergic smelling hay. me, darling i love you but give me park avenue.
i want the best of both worlds – he’s a lifelong New Yorker, i’m from the country. i want BOTH, he’s perfectly happy in the city.
so, maybe PLG for us. we’ve done west village, east village, the slope, greenpoint/williamsburg, and we haven’t been getting a vibe about where to go now. red hook, no, queens is NOT a possibility – in a way, chelsea circa 1980’s could work, even without the tweets and trees, but that’s not there anymore, now, is it?
i’m excited, but on the fence.
thing is, valuation is NUTS. not in PLG specifically, but everywhere. we’re waiting for AT LEAST a year, on the inside, to buy. we’re not sure where … nyack (on the river), staten island (grymes hill, snug harbor, like that),
lived in the slope, don’t like it. live in wburg now, but there aren’t any nice houses in the stock. the nyack option means we need a condo or an apt. in the city.
options:
nyack + condo in city,
staten island, enough country and close enough to serve 2 masters, but remote-ish,
a house in a brooklyn hood that gives me the trees and birds i crave, and keeps my husband in the city.
PLG is looking good.
Ah, those were the days.
I see that 209 Maple is back on the market at 975K, with Corcoran. Interesting to see what happens…
Does anyone know what the parkside house sold for?
LEFFERTS MANOR $385,000
169 Maple Street
2-bedroom, 3-bath, turn-of-the-century house; double parlor, dining room, eat-in kitchen, 3 fireplaces, finished basement, marble baths, 20- by 100-ft. lot; taxes $1,750, listed at $385,000, 1 week on market (Broker: Aguayo & Huebener)
Residential Sales, NY Times
Published: August 29, 1999
good lookin’ out, ed. IMHO, it’s not going to sell. condo sales are SLOWING, and there may be a market glut because of the completed non-sold units. what’s the board opinion?
bueller? bueller?
That Massey house isn’t a residential listing. They are a commercial real estate company who sells to commercial RE types and developers. It should have never appeared in an article about residential real estate which was intended for homeowners.
Gee I saw that in the Post article and thought it was a typo. 1.2M seemed about right, but 2.2M is hilarious. It was even higher than the exagerated price range mentioned in the article–1M to 1.6M for the manor. Someday, perhaps, but not yet. And the article even mentioned people who just bought a 4 story for under a mil a month ago, so how do they think the 2 story houses cost that much! I guess the post doesn’t read those too carefully before printing them.
Bob–totally cool ad. Thanks!
Its a large lot with a lot of unused FAR and it isn’t in the Historic District, so a tear-down would be possible. Nevertheless I can’t imagine that it would make sense to pay that much and erect a new building (condos?) at this stage.I think it’ll stay on the market a loooong time