HOTD: It's Delightful, It's De-lovely
This turn-of-the-century Lefferts Manor limestone has just come on the market with Brown Harris Stevens. Like just about all the houses in the Lefferts historic district, this place is a one-family. As the picture shows, it’s dripping with old-world charm: Corinthian columns, coffered ceiling, parquet floors. Mmmmm, mmmm, good. The price ain’t quite as tasty,…
This turn-of-the-century Lefferts Manor limestone has just come on the market with Brown Harris Stevens. Like just about all the houses in the Lefferts historic district, this place is a one-family. As the picture shows, it’s dripping with old-world charm: Corinthian columns, coffered ceiling, parquet floors. Mmmmm, mmmm, good. The price ain’t quite as tasty, though. We’re not experts on the neighborhood, but $1.3 million is certainly on the very high end for a row house, regardless of whether it’s been featured on the annual historic society house tour. If this is four stories (unclear from listing), the price could be justifiable. We looked at some three story places in the neighborhood last spring that were in the $700,000 range–and clearly prices are much higher now–but is this a stretch? Anyone got any comps handy? Those whose curiosity is piqued can go take a look at the open house on Sunday from 1 to 3 pm.
28 Midwood [Brown Harris Stevens]
I also remember what Smith Street cost 5 years ago. Nothing near this. Betting on gentrification is OK but not for the cost of the already gentrified. This house is beautiful, but it is only 3 stories and the neighborhood does have a long way to go. I agree – a few months ago when they were asking 800K for these houses, it might have been worth the gamble.
There are many fine brownstone neighborhoods, but how many are bordering the park and have such excellent subway access? Yes, this area has not gentrified to the extent many would like. But, do you remember what Smith Street looked like 5 years ago? How about 5th Ave in the slope? This area will change very quickly once the tipping point is reached. There are great houses available here for $800k or so (we saw three and bought one); no need to spend so very much.
Nice home but for alot less serious lookers should check out Bedford-Stuyvesant. For between $750 – $995,000 you can get a lovely Brown Stone/Town House and in great/good condition. If you want to spend less, there are alot of fixer-uppers. I’ve been looking and this area is on fire.
It’s funny but just a few years ago you could pick any of these properties up for a song.
Cheers
It is a great block – the neighborhood surrounding it, however, leaves much to be desired. I know there is a subway but the stores, etc… are pretty low, low end and some streets one or two blocks away are exceedingly ugly. I guess if you want a beautiful home fairly close to the subway and don’t care too much about the feel of the neighborhood as a whole, it is worth a look. It just seems crazy to me that all of these houses coming up in neighborhoods without much to offer and a LONG way to go are not being offered at more of a discount. I guess everyone wants something different, but if I were spending $1.4 million on a single family house, I would probably choose a bit of a fixer upper or a 4 story with a rental at a bit higher price in a better neighborhood with a better school system.
There is another house in the same development (about 10 almost identical limestone townhouses) being offered for about 100k more. The rest of the block is mostly 4 story limestone/brick all variations of turn of the century high-end single family housing. If you are observant you will find that each of the unique looking houses has a near-twin across the street. Great Block.
Not to mention it’s fairly shielded in the event of the a downturn: Close to good transportation, limited stock with zoning protection, proximity to the park…
the nabe has been picking up momentum for a while now, and recently a home sold about a block from this one for over $1.4M. the price for this house seems about on target for its apparent condition, assuming that it is pristine. it’s true – homes in PLG have been better protected than in other nabes in BK. the neighborhood is also picking up quite a lot in terms of reducing drug-related crime and diversifying commercial activity.
There have been houses sold in the Manor for about a million. This house is absolutely prime in the heart of Lefferts Manor. It is 4 stories, the yard is beautiful and you cant find details or a house this pristine in Brooklyn for this price. Because it is one family it survives as it was built. Most houses in Lefferts Manor have never been SRO’s or have ever been chopped up and rented. The housing stock in Leffets Manor is truly a turn-of-the-20th century treasure. BTW this year’s house tour is coming up the last weekend in May!
Also, it is a 1 family so there is no chance for rental income.