HOTD: Price Cut at 181 Washington Park
When this perfectly restored brownstone overlooking Fort Greene Park debuted at the beginning of the Summer, most people had the same reaction: “Totally awesome but $4 million?” That was then, this is now. Brooklyn Properties was given the axe a few weeks ago in favor of Brown Harris Stevens, who has now trimmed $200,000 off…
When this perfectly restored brownstone overlooking Fort Greene Park debuted at the beginning of the Summer, most people had the same reaction: “Totally awesome but $4 million?” That was then, this is now. Brooklyn Properties was given the axe a few weeks ago in favor of Brown Harris Stevens, who has now trimmed $200,000 off the asking price. It still seems like a reach to us but when you’re dealing with a spectacular house, you just never know. Stranger things have happened.
Washington Park Townhouse [Brown Harris Stevens] GMAP P*Shark
Stepping Out On FG Park (For Almost $4 Mil!) [Brownstoner]
Like many people, I saw this house on the FG house tour a few months ago. It’s gorgeous with very high end finishes. And the view of the park through the front parlor creates a special atmosphere. BUT — and it’s a big but — the house doesn’t have any significant extras, which is the only way I could see justifying this “premium” price. It would need at least one (and preferably two) of the following: a double-size landscaped lot, off-street parking, central air, a sauna, home cinema in the cellar, designer roof deck, etc etc. Otherwise, it’s just a very nice brownstone on a very nice block in a very nice neighborhood. But NOT a category killer.
I’ll tell you what Park Slope has that Fort Greene doesn’t have – services! I have to hike to the few drycleaners, food stores (YECH!) have to go on a hiking expedition to get fresh lettuce. The closest grocery store sells grey chicken and antique canned goods. One bakery. Shoe Repair? What DO we have? Hair salons. Bodegas. Chinese takeout. The buildings are beautiful but Fresh Direct is making a killing in this neighborhood.
Schools, schools, schools – PS has 321 and the other one isn’t bad either. FG has a school that is up and coming.
Ok, I get that Ft Greene isn’t Bklyn Hghts, but I don’t get what Park Slope has to offer that Ft Greene doesn’t. Will someone please enlighten me? I’ve lived in both places and I feel that Ft Greene is closer to Manhattan, has nicer homes and is a more diverse, neighborly community. I would certainly pay more for Ft Greene. What am I missing?
I totally disagree with tacking on another .5 mil for on the park location. Park is nice, yes, but also comes with litter, noise, farmer’s market (I’d rather be near the market than have it in my front yard). That said, I’m clearly not in the running for said house, but lucky for me it’s also not really my style. Obviously others feel differently.
http://www.elliman.com/Listings.aspx?ListingID=745500&rentalperiod=&SearchType=quick
Ooh, and it has floorplans too. It’s tiny – 13′ X whatever, but it’s not even a contest between the 2 places for me at that price point, with kids & private school tuition…
ITA with you Anon 3:12. Maybe even give it a bump to 3m but 4m, fuggedaboutit. There’s a brownstone in the Village at 51 Horatio for 3.9m right now, which I’d go for between the 2 properties. Better location (IMHO) and great schools (saving another 100k net tax/year for 3 kids) A buyer at 4m has many more choices.
The fundamental structure of this brownstone — standard edition — would go for 1.8 m in this neighborhood. Add another .5 mil for the “on the park” location, that comes to 2.3 mil. Add another 300Gs for “character” (i.e. well-preserved details), that totals at 2.6 mil.
That’s how I’d do the math if I was gonna invest in that property.
Now, I don’t care how pretty you think the place looks in the pictures; if you’re gonna spend between 3 and 4 mil on a brownstone, you’re gonna want to customize it to your taste, and CERTAINLY upgrade all the MEPs, such as central AC.
It’s just not a “spectacular” place in and of itself. Just standard brownstone with, as someone put it, fluff, and the nice park view.
Here, I’ll describe the house for you – since I saw it on house tour. Garden floor – kitchen in the back – cherry colored cabs. Parlor floor, double parlor. 2nd floor, master bedroom with bathroom in the corner (not ensuite) and closets in the middle with shaving sinks there as well.