House of the Day: 311 Stuyvesant Avenue
This house at 311 Stuyvesant Avenue is a glorious slice of history, with original plaster and wood work out the wazoo. Although the listing says the house is soon to be landmarked (not sure if they mean the house itself), it currently sits a block and a half outside of the Stuyvesant Heights Historic District….
This house at 311 Stuyvesant Avenue is a glorious slice of history, with original plaster and wood work out the wazoo. Although the listing says the house is soon to be landmarked (not sure if they mean the house itself), it currently sits a block and a half outside of the Stuyvesant Heights Historic District. The owner is asking $845,000 for the house, having paid just $638,000 in July 2005. Is it worth it? If you’re bullish on the area in general and junkie for detail, we’d say yeah. Especially compared to a something like this. (By the way, since when is The Developers Group in the townhouse business?)
311 Stuyvesant Avenue [The Developers Group] GMAP P*Shark
“Please put down the pipe. 845K!!!!????? This housing thing will come to brutal end.”
Ummm…do you think people will start putting up tents? Housing is a necessity…face the reality and put down your pipe.
845,000 IN BED STUY FOOL!!!!!!!!!! A 2 Family for 845,000!!!!!!!!!! Know the area!!!!!!!!!!!!!!!!!
Values in those neighborhoods rose fast due to being undervalued previously, and due to great improvements in quality of life there. Those are specific reasons for a rise in value. Not just a normal up and down cycle. There’s a difference.
While 6:35’s comments are hysterical, the fact is that that is what people were saying about FG and clinton hill in the 80’s–that fast rising prices would crash. And they did. Now they’re back. They’ll crash again. Then they’ll come back again. It’s called the circle of life.
Don’t worry about 6:35. He is probably trying to buy the house. Some buyers do that, come on here and bash the property they’re hoping to buy at whatever lowball offer they’re giving the seller.
Slow and painful correction my butt.
That’s probably what people were saying to the artists buying lofts in SoHo in the 70s and 80s.
And do your research: Yes, the crime rate is high, however in the past 10 years, every category of crime has dropped between 34-65% with an average of 51% lower crime stats. In the 6-year statistic column, the only stat that’s gone up is Grand Larceny (up 35% maybe due in part to the higher per capita net worth of late – there’s more “grand” wealth with which to be “larcenous” – for example, Brooklyn Heights’ precinct had almost double the number of Grand Larcenies in 2005), and that stat is in step with other areas (ie: Greenpoint, one of the areas with the lowest crime stats went up 41%). The trend is pointing toward neighborhood improvement and has been for a while.
That house in any other neighborhood with lower crime rate would sell in the millions…
Is it worth it? No. It’ll be valued at $600K by 2010 after a slow and painful correction. Crime in that surrounding nabe, already higher than most, will increase as well.
But that doesn’t mean someone won’t buy it.
I agree with 5:31. It gives a great feel, aesthetically and otherwise, and I’ve always seen that sells a house. (Seems absurd to have to say this, but I do not work for the realtor). These location vs. size vs. price debates are valuable and informative, but too many participants are always trying to “win” the argument. And these debates will never have any “winners” because the fact is everyone has the right to put their own individual set of priorities on all those factors. Most of those discussions become, essentially, “your priorities are different from mine therefore your house sucks”. Which is pretty dumb.
I have to say I’m digging this house. It has the right feel to it, IMO. I’m really loving the bathroom. I think it will sell.
$845K sounds reasonable for the house as long as the structure & mechanicals are OK. I know the area well and it is great – there are lots of amenities nearby (restaurant across the street, deli on the corner) and Stuyvesant is one of the best N/S avenues (the N/S streets get a ton of light and with the 1/2 bay window, so will the house).
Housing prices are basic economics… there’s a limited number of Brownstones and the population in NYC doesn’t seem to be making any drastic nosedive anytime soon. Do the math… it makes sense.
Besides, the recent slowdown in the market seems to be affecting condos a lot more than brownstones… anyone seen McCarren Park lately? Not a whole lot of action going on w/ the McCondos there. It barely looks like they’ve made any progress in the past year.
Besides, this is a huge improvement over the condo loft garbage the Developer’s Group was marketing in Williamsburg and Clinton Hill… “The Spencer”?? – Yeeeeesh… hideous.