Bidding War at 538 16th Street?
The wind hasn’t gone completely out of Brooklyn market’s sails, at least if one house in Windsor Terrace is any guide. According to a tipster, 25 families came to see the 1,800-square-foot house at 538 16th Street this weekend and six of them ended up making offers—at or above the $999,999 asking price. Granted this…
The wind hasn’t gone completely out of Brooklyn market’s sails, at least if one house in Windsor Terrace is any guide. According to a tipster, 25 families came to see the 1,800-square-foot house at 538 16th Street this weekend and six of them ended up making offers—at or above the $999,999 asking price. Granted this price seems low to start with for a house with some charm just a block from Prospect Park but, then again, it also looks to be in need of some updating. So what do you think: An aberration or a sign that the pessimists have it all wrong?
538 16th Street [Corcoran] GMAP P*Shark
Photo by Kate Leonova for PropertyShark
Is it really a Calder house? I believe Calder modeled the houses on Fuller, etc. on houses he had seen in Washington, DC’s Mount Pleasant neighborhood while serving in Congress. (Compare the two and the resemblance is obvious.)
The houses on 16th have a very different look — although proximity to the houses on Fuller, etc. might mean they were all all handled by the same developer.
Whatever the market does, people do need a place to live. Properties that are reasonably priced, in prime areas (and WT may not be “chi-chi” but it is near the park and subway, huge pluses) and structurally good will continue to command a good price. They may not go up much for the next few years, but I don’t think they will go down much (or at all), either, so why pay rent? Especially if you buy a property that you can live in for at least 5-10 years, or more – clearly you could do that with this property.
Do you people have any idea that it costs a million bucks to find anything decent in other cities like Seattle, LA, Portland, Boston, DC, etc?
They might be a little bigger than this, a little fancier, but a million bucks for a HOUSE a few minutes away from Manhattan really isn’t that outrageous.
You all seem to live inside a bubble.
A million dollars buys you a 1 bedroom in the heart of London.
300K to renovate this house?
What in Gold Leaf?
I’m SO sick of the same person saying that EVERY house listed on here needs a minimum of 300K to make it livable.
Not everyone is as prissy as you are, 12:32.
I could live in this place fine and do some work over time.
only one answer: location, location, location
it’s 1 block from prospect park
I think the location to the park is great. The house needs some updating, obviously, but at least you can live in it now and work on it slowly.
40 sign-ins at corcoran’s $3 million+ townhouse listing on dean street…
But 12:18’s point is the buyers are probably upgrading from a coop and he’s right. Even with a good income, when a gut reno is required (which will be a minimum of $300,000 on this house) most buyers are coming into it after selling a coop either in Brooklyn or Manhattan. Or selling a house out of state and moving here.
One more note, 12:18…
The prices of homes in the burbs are dropping faster than you can blink right now.
The latest predictions are that the burbs…EVEN the ones surrounding NYC will not see home prices rebound to 2006 levels until 2014!!!!
Now I’m sure home prices in Brooklyn will fall a little, but I don’t believe it will be anything like that.
People are willing to pay more to live in an urban environment and not do so much damage to the environment as those living in the suburbs are doing right now.
Especially with $4 a gallon gas coming in late 2008 or early 2009.