House of the Day: Fort Greene Value Play
Either the market must really be softening or we must be losing our marbles cuz this listing looks incredibly cheap for one-block-from-the-park Fort Greene. The only reason we can think that this 4-story, 2-family Italianate house is priced as low as $1.45 million is that it is in the block off the Avenue Formerly Known…
Either the market must really be softening or we must be losing our marbles cuz this listing looks incredibly cheap for one-block-from-the-park Fort Greene. The only reason we can think that this 4-story, 2-family Italianate house is priced as low as $1.45 million is that it is in the block off the Avenue Formerly Known As Murder and only a gunshot’s distance from some of Fort Greene’s finest public housing. Otherwise, looks pretty good to us: myriad mantles, large kitchen, pocket doors, etc. So what’s the catch? Is the location really putting that much of a drag on the price?
190 Clermont Avenue [Aguayo & Huebener] GMAP
Ratner should build the stadium where the fort green projects are.
I’ve never lived in Manhattan and bought in the neighborhood. Any of the “original” folks who didn’t by thirty years ago are unfortunately out of luck now if they cannot buy now that the neighborhoods are gentrifed (or gentrifying) and prices have skyrocketed.
Those who did buy when the neighborhood went downhill (from the late 1940s onward – after “white flight” to the suburbs) can make out very well now from their investment. Fort Greene, Clinton Hill and other brownstone neighborhoods were affluent neighborhoods when they were built in the mid to late 1800s. The “original” people (see Anonymous 11/23/05 post) who complain about not being able to afford the raising rents or property prices are simply those whose families moved into the neighborhood when it was going down the tubes in the past 60 odd years. The way I see it, gentrification is a good thing, it is restoring beautiful 150+ year old neighborhoods to their former mid 19th to early/mid 20th century glory, prior to the past 60 odd years of decay and neglect.
If those who moved in when the neighborhoods were not in good shape had bought at the cheap prices that were available then, they’d be set up well for retirment now. I know quite a few people in that position now in Fort Greene, and it makes me happy to see old grandma landlords and working people who are now able to establish a nice wealth base for their families by selling their homes or using their equity wisely.
As to 16ft wide question, the measurement on the deed/survey is usually from the mid point on each party wall, so the interior would be slighlty narrower than 16ft. Again, that is why this is not such a “cheap” property and is not a sign of some drastic Ft. Greene brownstone price drop. It is what it should be relative to the prices for larger houses in this neighborhood.
Kinda confused here. Is 16 feet an interior (wall to wall) width or the building (lot) size?
It’s scary when this is perceived as “cheap”. It’s more than long overdue, so that us “regular” original local folks can possibly afford to purchase in our own neighborhoods prior to the migration of “them” from across the bridge.
that’s a fair point. But right now, it is set up as a triplex with a garden rental. Plus, as far as a rowhouse goes, it is smaller than the average, no doubt about it. I’m just noting the size because people were saying that it seems relatively inexpensive. I’m saying considering the size, it is not so inexpensive. I live in a brownstone that is a bit larger than average (over 22ft wide) and that extra space makes a big difference to the look and feel of the place.
“Quite small” is a relative term.
Small if the house is carved up to help pay your mortgage. Not so small if you’re living in the whole house and using the original floor plan.
If the house is only 40ft deep as a previous poster said, then it only has 640 sq. ft a floor (2560 total) – quite small.
(Cont’d – sorry, accidentally hit post)$503.47 a square foot(which is not cheap), so all this talk of some super value is not entirely correct.
In fact, the price is relatively ambitious considering the size and distance from the subway, as well as the fact that it is being listed during the holiday season, which will mean less interest due to less people looking in late November and December.
This price is not cheap for the size of the house. It is only 16ft wide according to a deed on ACRIS. Plus, the lot it is on is only 72ft deep. If the house is a full 45ft deep, that’s only 720sq. ft a floor – with a side staircase taking up a lot of the room on each floor!
With all four stories (including the ground floor apartment – which I’d imagine you’d rent), the total square footage would only be 2880 – small by most townhouse standards. At that square footage, you’re looking at