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
Went to the site–above link doesn’t work–it is really beautiful! Probably would have been 2.5m.
1:06,07,0– you need to actually read the comments before going all wacko. The poster was not saying there had been a 30% decrease. However your 10% figure is ridiculous. This is asking about 19% less than what I spent on a similar house in a simlar spot almost two years ago. You can BS all you want, but there is no esaping decreasing prices.
Yeah, this is between 5th & 6th. I agree that it wouldn’t have been 2.8. You would need to be above 7th and in 321 to have asked that. 2.3m seems much more in line with top-o-the-market price.
To Anon (1:06 – 1:09).
I was not suggesting that the market would or should drop by 30% – it was just a creative way of saying that the house was out of my price range. Please so try to read the post carefully before you pen an “outraged” response.
Get real 30% drop?? Back to 2003-044 prices?? Don’t think so… This house is across from the school/playground and would never have been $2.8 mil. in the hard market of 2005… It would have been $2.395 mil. or about 10% more than WLR currently has it listed for. The North Slope is hot right now, much more in the way of transactions North of $2mil. than in Central Slope.
I also love the house (based on the picture) although I am a bit annoyed about the double duplex layout, alas I would need about a further 30% price drop before I could even consider it. BTW, I do not agree with the analysis on pricing. This location is below 6th Ave (11217???) so not sure if it should command the pricing of “prime” Park Slope.
I prepaid for your analysis about a year and a half ago. I think declines in the primes will siphon back SOME buyers previously priced out. Some of 2005’s Bed Stuy/Crown Heights shoppers may now be looking at Clinton Hill/Fort Greene. Clinton Hill/Fort Greene >> Park Slope. PSlope >> Manhatttan. Granted, some of the stuff thrown on the wall will stick. Historic Brooklyn will have grown on some shoppers/owners and they will stay. But I do think there will be a considerable flight back to the Gotham if things continue like they are.
$.02
For what its worth, seems this is between 5th and 6th Avenues, not in the primo area above 7th Avenue. I think this is in School District 13 and across the street from an elementary school, which I think is one of the better in that district, but not PS 321.
I also covet this from afar – it’s just beautiful.