House of the Day: 87 St. Mark's Avenue
This house was an Open House Pick back in mid-May and despite not selling yet has held its ground on the $1.6 million asking price. This makes sense to us. Although the 4-story brownstone is technically on the Prospect Heights side of Flatbush, the condition and level of detail make it worth the price, we…
This house was an Open House Pick back in mid-May and despite not selling yet has held its ground on the $1.6 million asking price. This makes sense to us. Although the 4-story brownstone is technically on the Prospect Heights side of Flatbush, the condition and level of detail make it worth the price, we think. Moreover, the house is 21 feet wide and on an extra-deep lot. So, overall, we think the sellers are right to hold their ground on price. This listing also provides an interesting context for thinking about the gut rehab candidate at 34 St. Mark’s Avenue which is currently asking $1.1 million. Another twist: Both properties are being marketed by Corcoran.
87 St. Marks Avenue [Corcoran] GMAP P*Shark
34 St. Mark’s Avenue [Corcoran]
Hey 3;58 lay off the pipe, owners triplex with a garden rental. no tenants walking through anything
You’re all way off the mark. The house is about to sell for over asking. The top floor is not a rental anymore and the broker is one of the few I really like. And I DON’T work for Corcoran
I think maybe the reason this isn’t selling is the weird floorplan. It has a garden rental, a top-floor rental, and a duplex in between.
So if you live in the duplex, your tenants must walk through your house to get to their apartment on the top floor. And you have to share the garden with your other tenant! Where’s the privacy?
If the Brooklyn real estate party were over, Anon 12:18, then brownstones would be priced near the median house price in the United States, $240,000.
When a married couple with two average civil service incomes can afford to buy a single family brownstone in downtown Brooklyn, then housing prices will again make sense. Until then, the party rages on.
corcoran broker on 87 st marks is a little shady
I’m kinda puzzled by the price of #87. It’s in renovated condition, houses have sold on that block for more, and houses on other blocks of PH have sold for much more. #130 is on the market (or maybe in contract since it’s no longer on the Brooklyn Properties website) for $1.995m.
I’m with Daniel that something doesn’t quite add up.
A tear-down on a small lot at $1.1m vs a habitable structure on an extra-large lot for $1.6m.
I think $1.6m is 2005 pricing (ie. on the high side), and $1.1m is some sort of Angel-dust induced fantasy.
As observed by others, St. Mark’s isn’t the sweetest part of the slope (more boerum hillish to my mind), or prospect heights (too much flatbush traffic, fire station, police station, atlantic yard, boys town, etc).
I say 87 goes down at least 10%, and 34 goes down 30% or even 40%.
why are the taxes so high – over $5K?
since the 34 St Marks thread got hi-jacked by a bunch of whiners, ill make this (hopefully relevant) comment here. I was at the open house at 34 on Sunday – the place is a total mess. Needs new floors, new beams, new stairs, the facade is rough cement – appatently ‘prepped for brownstone’ [?] -, all bricks need repointing, in a few places you can see through the wall. dont even think about ‘original’ anything. and THEN all of your basic reno stuff. it is a small lot, filled by the awkward rear addition – ie no back yard. the ‘garden’ floor is only good for storage (and SUPER stinky). Anyway, im no brooklyn expert nor am i a competent reno estimator, but i dont think it is well priced given the amount of work to do. if 87 is staying at 1.6, a good deal larger, and more or less move in cond., i cant see 34 making sense at more than 800 or 900, with an after reno price of c. 1.4
Having said that, i thought it was a pretty sweet situation for someone, like myself, who has no interest in ‘period detail’ and can have fun with the raw space. right now the whole thing is about 30% over my budget, so we’ll see what transpires. plus great location