House of the Day: A New Era In The Slope?
This North Sloper looks like a sign of the times to us. As far as we can tell, this would have been asking north of $2 million just a few months ago. Now, at $1.795 million, the location and historic integrity of the building make this pretty attractive, we think. Perhaps there’s a bit of…
This North Sloper looks like a sign of the times to us. As far as we can tell, this would have been asking north of $2 million just a few months ago. Now, at $1.795 million, the location and historic integrity of the building make this pretty attractive, we think. Perhaps there’s a bit of a discount for the fact that it’s a three-family–most buyers in the North Slope these days probably want a one- or two-family. In addition to the cost the reconfigure, the listing admits that the house needs a tune-up in places. Personally, we’d start by plastering over that brick wall in the bedroom! Regardless, we suspect this will attract a buyer quite quickly at this price. It makes us wonder: If this house is $1.8 in the prime Slope, what would it be in Fort Greene?
North Slope 3-Family [NY Times]
Listing #5230 [Warren Lewis] GMAP P*Shark
Always in search of the intersecting point between (name your established Brooklyn neighborhood) prices and (name your upcoming neighborhood) prices… It’s like two lines segments that won’t intersect unfortunately. Esp. in a downturn. I think that scanning online ads is barely scratching the surface of reality. There’s always a catch with a house with a great looking picture and a reasonable price. Do you think people really ever give money away?
To 3:59 pm, I agree and think I’ll be fine.
Btw, went by 45 Prospect Place. Pics do look much better than in reality (broker does give a heads up re TLC). Buyer probably will want to / have to do a lot of work.
Also, its an awkward layout bc access to rental unit breaks up the owners triplex (1st 2 floors for owner, 4th floor for tenant, 3rd floor is owner’s BR level – but shares stairs w tenant. Seems to have good bones.
Well, Sept. 05 wasn’t really that long ago. If prices have been flat from Sept.- May, that wouldn’t shock me– and it would mean that you “wicked overpaid”. I bet you’re still going to be glad that you bought when you did, even with the softening & whatnot.
90 Prospect didn’t close until Sept 05 but the contract was signed in April 05 (seller had some trouble closing, getting filings done etc). I know bc I bought it.
Although I haven’t seen 45 Prospect in person (and assuming its 20′ wide), I’d have to say it looks to be in better shape overall than 90 Prospect, and a better deal. That is – unless all the pics are only of a nice owner’s duplex and the other 2 floors are in terrible shape or there’s some undisclosed problem.
If the 2 houses are basically comparable, I’d have to conclude one of the following: (1) I wicked overpaid last year; (2) the market continued to rise in 05 (which I’m pretty sure happened) but has since come back to April 05 levels; or (3) the house is priced kind of low versus others on the market for some reason specific to this listing (seller really has to sell (doubtful) or low ask / bidding war strategy (no idea)).
Bottom-line is that there are more and more houses that seem to be priced lower than I would expect or compared to its peers. Although I’m definitely not one of those that are rooting for a big burst of the “bubble”, some softening in the PS TH market seems to be undeniable. Anyone’s guess what the next move is.
If you’re reading this bc you’re thinking of buying 45 Prospect, one thing I would say is that I’m glad I didn’t buy a 2 or 3-BR condo in Manhattan instead (the main alternative).
btw, there is definitely no subway noise / vibration at all (at least from 90 Prospect westward). That had been a concern of mine.
90 Prospect sold for $1.8 in September. Prices are pretty flat.
i think the house is nice, like a big pepsi can
this is the largest pissing contest i seen in some time!!!
I heard a rumor about a new public school for the arts in FG– is this true? And if so, are parents psyched about it?
The rumor that I heard made it sound great, but obviously, I don’t know anything about it really– and I’d like to know.
Putting aside the vitriol,
I wouldn’t be surprised if the 2pm St. Ann’s poster was actually that lurker who tries to get a rise out of people and who is now thrilled that we took the bait!