HOTD: Prospect Heights Charmer Priced Right?
We’re gonna need some help on this one. Corcoran’s indefatigable Jerry Minsky has a new brownstone listing on Prospect Place between Vanderbilt and Carlton that looks lovely–especially the oversized, verdant back yard–but seems a little pricey to us for the nabe. Part of our confusion stems from the fact that the listing describes a two-family…
We’re gonna need some help on this one. Corcoran’s indefatigable Jerry Minsky has a new brownstone listing on Prospect Place between Vanderbilt and Carlton that looks lovely–especially the oversized, verdant back yard–but seems a little pricey to us for the nabe. Part of our confusion stems from the fact that the listing describes a two-family double duplex, but the house in the photo looks like a three-story. It would be helpful to hear about comps in the area for this one. We thought a place like this would be more like $1.4 million (especially if it is three stories!), but maybe we’re just a month or two behind, which in this market can be a lot!
Addendum: The readers have spoken. This is indeed a 4-story house, albeit one that is set back from the roof line. It also sounds like this price is about where it should be at this point in the market based on other recent listings and sales nearby (though Property Shark shows it having changed hands last year for $1.21 million). Thanks for all the input.
181 Prospect Place [Corcoran]
Funny how out of the last 5-10 brownstones we have looked at, which were being flipped within a 2 year period, the owners were both (1) “unexpectedly relocating due to work” and (2) asking at least a 25% price increase per year of ownership!
I think it is significantly over priced. Last fall there were two 5 stories in this nabe that were on the market for 1.8 million (6325 sq feet) and another for 1.75 million (4800 square feet). And they only needed cosmetics. And there was one in show case MINT condition this spring that sold for $1.890 (real four story) I’d be very suprised if it sold anywhere near asking, but then again Jerry seems to find a sucker up his sleeve for most of his listings (see the ft. greene condo’s selling at over $1000/square foot).
Hi Brownstoner- as the owners, we wouldn’t ordinarily post, but to answer some of the questions raised:
As others have said, the house is 4 stories plus a full, vaulted basement. The fourth floor is a real fourth floor, not an “attic.”
We have only owned the house a short time, but are selling because one of us has been unexpectedly transferred to DC for work. We really love the house and thought about keeping it even so, but can’t say for sure we’ll ever be back.
We actually did do a fair amount of work, including the kitchen, new floors, baths, electrical and plumbing and some structural/exterior plus the garden.
We will miss it and the nabe and are sorry to leave the rest of you brownstowners.
propshark shows it was sold last year for $1.21
Guess the news owners didn;t like it.
I’m guessing they didn’t do too much work(ok-maybe the garden)….if you look at floor plan- for the front bedroom of lower duplex you need to go thru the bathroom.
Yes – 4th floor is probably not full floor.
But records show it is 20×50 bldg… then add at least of 4th floor and thats pretty good sq. ft.age. Floorplans on Corcoran do not show a real basement – oversight or are utilities on 1st floor?
This is a prime block – very close to Prospect Park and the main subway lines (Q, B, 2 and 3). A four-story house on this block just went into contract at over $2 million (I heard it had 9 bids) and one other sold for over $1.7 million. Whether this price is appropriate depends on how much work is needed.
To the editor of brownstoner.com. I would prefer to not be on record but if you can personally let your subscribers know that the townhouse at 181 Prosepct Pl is four stories. The top floor is recessed by about 250 sq ft from the cornice so I know it looks deceiving but I know my client would truly appreciate your correcting this as a professional courteousy. Having been mentioned in the past, I am personally not making this request but she is.
Incidentally, the property has been extremely well received on the market.
Thank you in advance.
Jerry Minsky
Corcoran Group
it has 4 th floor in atttic, actualy you can see forth floor winndows on the picture. plus floorplan explains everything.
I know the house and it has a “cheater roof,”- 4th floor slopes back and isn’t visible from the front. It’s left over from the days when the tax man calculated the bill from counting the stories from the street. Makes a cute front room with a sloping roof and skylight, and then a full fourth floor.
We bought a 4-story in the neighborhood a few months ago for less than what they are asking. While it is in slightly worse shape than this one (e.g. no renovated kitchen), it still has the 131 foot lot and just as much original detail. So the price did strike us as a little aggressive. But then again, I have seen recent 4-stories in the neighborhood listed at $1.89 m, so perhaps the prices have moved sharply in the few months since we bought.