House of the Day: 322 Park Place
As great a block as this house is on and as impressive a facade it has, the asking price of $2.2 million seems like quite a stretch for this side of Flatbush Avenue. The same family has owned the house since at least the early ’80s, and besides the strange addition of new granite tiles…
As great a block as this house is on and as impressive a facade it has, the asking price of $2.2 million seems like quite a stretch for this side of Flatbush Avenue. The same family has owned the house since at least the early ’80s, and besides the strange addition of new granite tiles for the wall of the entry foyer, has done little work as far as we can tell. On top of that, while most of the original details are intact, they don’t strike us as being quite as impressive as we’d expect. To be fair, it could be how they’re photographed (subpar for a Corco listing). Anyway, in case it sounds like we’re being overly negative and nit-picky, it’s only because the asking price begs scrutiny. If this had been put on the market at, say, $1.7 million, we’d have a strikingly different reaction. The price is particularly rich for a family that wants to use this as a one- or two-family, as converting from a four-family won’t be cheap.
322 Park Place [Corcoran] GMAP P*Shark
Anonymous 11:31p, was just browsing around the link above and also came across this item that happened last night:
http://brooklynian.com/forums/viewtopic.php?t=33525
I believe the info and pics at the link below provide a perfect current (today!) example of how PH differs from these other neighborhoods:
http://brooklynian.com/forums/viewtopic.php?t=33512
Come on kids, the neighborhood bragging rights thread is a bit of a waste of time. The question is whether this house is priced correctly for the market. I own in PH and love PH — so have a vested interest in boosting the nabe’s property values — but I’m still gonna say that this house is at least $3-400 over market.
I live on Park Place and when you walk up Vanderbilt into Grand Army Plaza with its magnificent monuments it makes up for not having fabulous restaurants on Vanderbilt. The openness, the arch, with the Park beyond make you feel you are living in a very special place. Also remember you are close to the very nicest blocks in PS.
1:09p – Not getting into a turf war here, just pointing out inaccuracies.
Vandy eclipsing Smith Street?
In fact, Smith has ten times the number of original and interesting restaurants that Vandy has, shops too. Real restaurants and shops, not just former barrio hold-overs. Smith Street ditched those over 5 years ago. Vandy has just a sprinkling counted on one hand. It never exploded with great places like Smith..it’s just had a trickle of this activity to-date. Not sure how you can be comparing these, as Smith Street is both much longer than Vanderbilt and also much more densely packed with great places, resulting in far greater variety and total number.
Subways? The F runs right through the middle of CG. Very fast conduit into town, love it. A hike? Have a look at the map. Its closer to most of CG than most of PH is to a subway.
Schools? Simply can’t compare.
And crime? Let me put it this way: one area makes constant headlines, the other doesn’t. No burning cars, prostitutes or drug dealers hanging out in CG.
I also like PH, but let’s be honest with the facts here…it’s more of an emerging neighborhood, at an earlier stage perhaps just ahead of Clinton Hill in many respects (particularly crime/drug, overall safety, restaurant/shopping choices). Some folks aren’t deterred by this, but some are.
As for access to the park relative to CG, the whole western side of Prospect Park also has access that CG does not have, but I wouldn’t exactly say that ranks that area any higher for that, given similar rough edges present. So that alone doesn’t count for much.
Anyhow, I like all these places. Just asserting reality check where needed.
i also agree that while prospect heights is a great neighborhood with some nice aspects to it, if people privately were to rank where they would prefer to live (taking out the costs) that prospect heights would not be near the top 3. i looked to buy my first place in the fall and basically thought that in my price range, i would need to look at prospect heights and was quite happy about that, in fact.
as it turned out…looking at a few nice places on lincoln near washington and on sterling, park place, etc that once i happened upon a place in prime park slope, that it felt like a much better option for me. those streets still had a pretty seedy vibe to them. and to compare vanderbilt to 5th avenue is pretty ridiculous. come on now. 5th avenue 5 years ago, yes…but right now…not a chance. there’s going to be no blue ribbon sushi on vanderbilt anytime soon.
prospect heights is great, but please try to be realistic here…MOST people would certainly prefer park slope, carroll gardens, cobble hill, etc.
Prime PH has 4 subway top tier lines park, library, museum; is closer to 7th Avenue than most of PS and no public housing; also, Vandy is rapidly becoming the next 5th Ave, which long ago eclipsed Smith Street as a shopping/dining/drinking destination. CG has no good subway access, most of the nabe is a hike to the F and Gowanus and Wyckoff houses are walking distance. AY is a red herring, particularly for any block near GAP.
Thank you, 11:01, for explaining your situation and answering my question. I was also the person who asked who would buy this and live on only one floor?
We also are happy to live in a small portion of our brownstone, because our tenants nearly cover our cost.
But what I was pointing out was that we wouldn’t pay some $5,000/ month (with the rental income covering the other portion) to live in such a small apartment. But that is at least the cost to cover $800,000 in mortgage, with the 3 tenant apartments covering another million (if you are lucky).
Once you are talking about these kind of price tags, your real buyer isn’t an “investor”, but someone who has so much disposable income they want to spend 2+ million on their home, and getting a few extra thousand a month in rental income isn’t necessary. I’m sure there are exceptions, but I’ve never met those people.
And across the street from this property, someone stole all the tires off a car last night and left it on milk crates. Welcome to the neighborhood!