House of the Day: 38 Berkeley Place
When we see this pristine, 4,000-square-foot brownstone on Berkely Place priced for $2,195,000 it makes us worry for some of the houses in other nabes like Fort Greene or Carroll Gardens that are trying to get the same price. Before everyone goes all nutso on us, Yes, we realize not everyone wants to live in…
When we see this pristine, 4,000-square-foot brownstone on Berkely Place priced for $2,195,000 it makes us worry for some of the houses in other nabes like Fort Greene or Carroll Gardens that are trying to get the same price. Before everyone goes all nutso on us, Yes, we realize not everyone wants to live in Park Slope with baby strollers, blah, blah, blah, but the fact remains remains that the North Slope above Seventh Avenue is one of two true blue-chip areas in Brooklyn. Seeing a house as large and in as good shape for this price in this area makes us wonder about the comparable ripple effect through outlying neigborhoods. And what does this say about the overall market downturn? Our guess is this would have been $2.6 million at the peak which would imply a decline of 15% or so. Are you buying our analysis?
38 Berkeley Place [Warren Lewis] GMAP P*Shark
The house on Garfield that WLR tilts a little.. there is an underground stream running near it.. This is why it has been sitting so long. The house would not have been 20% more one year go.. Possibly 10% more. It will probably sell North of $2mil. but just barely
This is a great house. I think the price is very attractive also.
However, it is near 5th avenue. At the peak of the market 2 years ago, this house would have garnered $2.4MM (maybe). A similiar house between 7th and 8th would have been $2.9MM to $3.1MM. 5th avenue, however, has changed more than 7th avenue (for the better). Therefore I think this house is a steal! Is it landmarked?
7th avenue is slowly changing…ie Sweet Melissa just opened and a Tempo Presto is coming. As commercial leases come up, more trendy stuff will improve 7th avenue.
1% “mansion” tax kicks in at 1mm. Find me a mansion in Brooklyn for a million dollars!
*choke*
Really, that much for closing costs? I dunno, ours was $8K for our $850K house this year.
How about closing costs?
Shouldn’t they clock in at abou 100k on a 2mil property?
I understand the benefit of extra income with a two-family, but at what price. For the Berkely Place house the value of the rental is about $200k ($275K amount of mortgage it can service less $75K renovation costs). Assuming a purchase at ask, your getting an owners triplex for about $1.995 million ($2.195 price less $200K rental value). I’d rather just by a single family for $1.995 million (if I could) and avoid the hassle of being a loandlord.
sarsenhall? oh my.
I would think there is a discount for a single family (unless maybe in the Heights) as the promise of rental income seems to induce sellers to price higher…For instance, there’s a premium when a two-family comes on the market in Lefferts Manor since almost all the houses are zoned one-family.
Who the hell is Peter Saarsgaard and Maggie Gyllenhaal