House of the Day: First Rate on First Street
We’ve discussed before how difficult we think it is to predict how some of the higher-priced houses in the higher-priced nabes will sell. This lovely “British Regency with Federal Style” mansion on First Street between 8th Avenue and Prospect Park West probably falls in that category. The house was built in 1915 for the builder…
We’ve discussed before how difficult we think it is to predict how some of the higher-priced houses in the higher-priced nabes will sell. This lovely “British Regency with Federal Style” mansion on First Street between 8th Avenue and Prospect Park West probably falls in that category. The house was built in 1915 for the builder of this row of similar houses. What’s not to like? (Well, we could point to a couple things like the kitchen cabinets and a little overkill on the dining room walls, but this is no Columbia Heights overkill.) Point being this place is large, pristine and in the right place. If one had to quibble, the yard is a bit on the small side. Anyway, it’s a looker–the question is will there be takers at $3.295 million. It’s only been on the market for a little over a week, so it’s too soon to tell.
Property #89 [Townsley & Gay] GMAP
FWIW, anon at 2:33PM, the comp is not quite that rich until you make MD. There are good years and bad years. But, the point about the stock comp is spot-on. Getting paid in stock has created a major boost to comp over the past few yrs. Also, bankers like to own, so chances are it’s a trade-up transaction. Bottom-line, even at 50% of the figures you mentioned, a $2MM – $3MM home is quite doable even on one income.
Let me make it simple for you. I’m a mid-level I-banker. I’ve lived in Park Slope for 10 years. I own a brownstone. My commute to 85 Broad is 30 minutes door-to-door. My neighbors are bankers, law partners, editors, entrepreneurs, doctors, accountants, etc. We all love Park Slope. Maybe traders need to be where the action is, but bankers and lawyers do get married (surprisingly young), start families, and settle down in places like Park Slope.
Whoever can’t imagine us wanting to live in PS (when we could well afford Manhattan) just doesn’t get it. Period.
Frauds of Park Slope — that was cute, I happen to prefer bedstuy but I know I’m in the minority. I never even said this house was overpriced I just asked what kind of people buy them at 3 mil because I’m certainly curious to know, considering if you can afford a price tag like this I’d venture to say that you may not want to live in Park Slope. not that there’s anything wrong with park slope but like I said before I can’t picture george soros living in this pad. but now that you’ve assured me that you park slopers are all wishing you could live in the stuy I thank you for the clarification!!!
anon 3:20, I was the one who said I worked at Lehman and I left at the beginning of last year and I’ll admit that times could have changed its definitely possible. hell, I live in bedstuy! but at the time it was certainly the case of the cheese standing alone. maybe it was because I lived in bedstuy though, maybe if I lived in BH or something they’d be more willing to admit they live in my borough but I just didn’t know anyone in my group or a few others and I was really surprised but if I’m wrong I’ll stand proudly corrected.
Don’t forget that there are professionals who work in Brooklyn (Metrotech, Courthouse, hospitals, restaurant owners, etc.)
I think the real value of this house is the location. Not just Park Slope but tree lined streets with trees that are close to 100 years old. Also, it’s half a block walk to Prospect Park.
As envious as I am, the location takes your breath away.
Too many wall street goons in BK already. Look at Bushwick.
I didn’t say that it wasn’t possible I was just asking because I didn’t know any personally. obviously there are at least some people in finance who live in Brooklyn I just can’t imagine them all the way in the slope I could definitely be wrong though.
Anon 2:59 — how long ago did you work at Lehman Bros? times have changed.
You caught us, stuy blkbuttrflie. You found out the secret! Nobody buys these houses. Huge tumbleweeds blow down the deserted park blocks of park slope like ghostly soldiers, as our overpriced houses sit abandoned, victims of the gap between the elite palaces of Manhattan and the superior, better-priced brownstones of Bed Stuy, which is the only place anyone with any sense willing to live in Brooklyn would buy a house today.
I just admitted it! Are you happy? Now leave us to our misery!
bankers and traders are a little behind in taste, but like it or not, they are moving to brooklyn. In bucketfuls. Gretsch building is an example. Dumbo is all traders.
Park slope is kinda far off the map. beside the occasional decent restaurant, it’s mainly families who cook at home and raise their spawn.
If I were a trader, I’d def stay away from that kind of environment; I’d be looking for where the hot women (and men?) hang out, where the trendy bars and clubs and good restaurants are. If I’m stuck in a depressing job like that, I’d really want to have FUN with my money when I leave work. And Park slope doesn’t reek of fun.
But Williamsburg and Greenpoint and Dumbo and even, slowly, FG, RH, BH, are getting the $$$ love.