House of the Day: 1441 Dean Street
The current owner of 1441 Dean Street paid just $626,000 when he bought the three-story, two-family house last June. Since then, he’s clearly done a lot of cosmetic work, polying the heck out of the floors and making the gorgeous wood paneling look its best. It’s unclear what else he did — nothing that required…
The current owner of 1441 Dean Street paid just $626,000 when he bought the three-story, two-family house last June. Since then, he’s clearly done a lot of cosmetic work, polying the heck out of the floors and making the gorgeous wood paneling look its best. It’s unclear what else he did — nothing that required a DOB permit, that’s for sure. Given that the house falls outside the proposed Crown Heights North Historic District and is only three stories, the asking price of $849,000 feels a tad aggressive. We also wonder whether those floors might be a little too glossy in person. Waddya think?
1441 Dean Street [Corcoran] GMAP P*Shark
In response to Anon: 4:54, when I was looking for a house in 2004, it was extremely competitive and I didn’t know about Brownstoner at that time. But I wonder if I would have benefited by the site to actually find a place then other than increasing my knowledge of neighborhoods and of renovation and houses in general. I was like a hunter then, trying to find places that were handled by smaller local brokers – anything to avoid the multiple bid pile on. I don’t know if this site is a place to “amp up the buzz” on a place, but in a competitive situation (it looks like things are heating up now again), I would be doing what I did then which is the stealth approach, checking out all the smaller local brokers for underpriced, underexposed properties. What Brownstoner has REALLY helped me with is the renovation and maintenance of the brownstone once I bought it. I was so happy when I found Brownstoner because I got so much practical help. The beginning phases of my renovation had a tragicomic quality to it – so much drama and frustration – but things settled down and things got sorted out, thanks in large part to fellow brownstoners on Forum. I am sure that there are other purposes of this site, but to me that help has been the most valuable.
to putnam-denizen: I started checking out this site when I started looking for a house, thinking it would give me the info and background I would need to make an informed choice. But lately, it really seems more and more a place for brokers to amp up the buzz on a house and increase the prices. It’s all fair game—but if that really is the purpose of the site, I’d be disappointed. We don’t need more advertising space, even if it’s stealth advertising. I’m more partial to the idea that this site is for advocating the care of the architectural heritage of brooklyn.
i was just told by a co-broker that there’s an accepted offer.
Just to be clear, I don’t know how much the house is worth. Its price will be whatever the seller and buyer agree upon. And if the buyer holds on to it for a long time, it probably be comes out in the wash. But if the jump from last sales price and current one sucks up all the conceivable equity for the next few years, it might make me less likely to buy it if I weren’t sure I wanted to wait out a flat or declining market. But in any case I think the only person who would ahve an inteest in not disclosing the prior purchase price is the seller (or, and I don;t mean this as a potshot, just a reality, realtors who make their dime off imperfect information in the market place).
Ask and ye shall receive: i live on this block, and have seen this house inside & out, both during and after renovations. There was no structural changes (hence no DOB permits), and it wasn’t completely dilapidated state, just neglected. The bldg was formerly used as a daycare, so no domestic details were attended to. The owner has done most of the work himself, and the results are staggeringly beautiful. Both kitchens weren’t totally complete during the open house, but they’re tastefully done. As are the bathrooms. But I will say that this block is an isolated pocket on an urban grid, which is still on the fringe. It’s improving, but baby steps.
Putnam-Denizen,
You can also look at the question of whether this house is worth it in reverse. The house sold last year for $626K. Some people argue that the value of the house, not counting improvements, should be about the same considering how the market has been. If that’s true, you ought to be able to buy a comparable house, in the condition this house was in last year before the sale and reno, for about $626K. Can anybody find that house today?
Wow. I remember this place being in on the market for awhile. I was shocked it went for 629,000. That seemed low to me given the beauty of the house. The only problem to me seemed it was too deep into Crown Heights but guess I was wrong. $850,000 seems high to me but I bought in Crown Heights a year ago so it makes me proud–
I think this discussion goes to the heart of one of the struggles about what this site is about. Some sem to want to use it sell property and pump up prices. In a negotiation I as a buyer want to know as much about the wholesale price as possible. Thus we have tons of sites which give people the price dealers pay for cars. Similarly if I am buying a house I like to know the sales prices of comparable houses and yes how much the house in question sold for last time. That allows me to judge whether or not it is a good value now. Perhaps someone got a good deal before and the price is fair despite the huge mark-up. But at least I can make an informed choice. Which is not to say that I think there is anything morally wrong about trying to get the highest price possible. After all the seller only needs one satisfied buyer (or uniformed sucker, if that proves to be the case). Of course if I were a neighbor I would want the house to be sold as soon as possible so it doesn’t deteriorate (shameless plug for my forum question “How to get a neighbor to seel a vacant house.”)
Bklyn Boy, some folks can put half down and live in the whole house.