House of the Day: 371 Carlton Avenue
Guess it’s not all champagne and bidding wars in Brownstone Brooklyn these days. After about five weeks on the market at $1,895,000, the bricktownhouse at 371 Carlton Avenue has received more than a 10 percent price cut to $1,690,000. Before everyone leaps into hysterics and declares the sky is falling, however, it’s important to note…
Guess it’s not all champagne and bidding wars in Brownstone Brooklyn these days. After about five weeks on the market at $1,895,000, the bricktownhouse at 371 Carlton Avenue has received more than a 10 percent price cut to $1,690,000. Before everyone leaps into hysterics and declares the sky is falling, however, it’s important to note that this is not your standard Fort Greene brownstone. It lacks the grandeur that full stoop brings (though, to a family with small children, this could be seen as a big bonus) and it’s only three real floors of living space; it’s also a three-family, so it doesn’t fit the profile of the most common house hunter. While the interior has lost some of its moldings, the fireplaces and woodwork is intact and the house appears to be in very good overall condition. This big cut should stir up interest, we’d think.
In related news, did anyone else notice that 387 Hancock (discussed here) is back in contract?
371 Carlton Avenue [Corcoran] GMAP P*Shark
371 Carlton Avenue Reduction [natefind]
Once AY is build the fast moving traffic will not be a problem.
I am anon 1:01, that AY should affect this price drop does not make sense at all. It a few blocks over but that is not the issue. The issue is that the house is not worth anywhere the money is was listed at. Look at the neighborhood comps. And if you had a semi-realistic front shot of this building, it would be clear why.
I live around the corner from this house. AY is irrelevant. You won’t be able to hear, let alone see or feel the construction from this block. This is a nice block that, IMO, has two problems: same block at the Greene House condos (parking is tighter-than-normal for FG) and fast-moving traffic on Carlton because it’s a through-street from Flatbush. And who knows about the house — there are no pics of the bathrooms or kitchens or much else, really. There’s just too little information to go on here.
i personally think those that think AY has something to do with this are insane.
every heard of the phrase cry wolf?
i wonder if it’s something in the water in new york that makes a disproportionate amount of crazy people.
Sometimes I cannot believe the prices this guy Jerry Minsky comes up with. I mean it. 1.895 for this house is absolutely insane. It is a 2 family, 3 story house of no distinction whatsoever, skinny on a bareblock with
a nice walk to the train, and it is 18X35, very shallow. 1.695 is insane. I am not a broker, but a person who was trying to buy sometime back in Fort Greene and I would marvel at where he would get these prices from. For example, the house you featured on Adelphi (frame house) went for 1.495. Forget about the sky falling, the pricing on this Carlton house has absolutely nothing to do with reality. But that is what they seem to do at Corcoran or at least in Minsky’s world. In contrast, I noticed A&H seems to underprice and then generate bidding wars. Whatever. The market wins. That Carlton house pricing was and is off the wall, though.
Is this house a few blocks away from the gorgeous frame on Adelphi that was featured in “just sold?”
i think at this price it is a buy and looks to be priced within a nice range of a lot of would be buyers
Hasn’t it got everything to do with the fact it’s still $690 per sq ft??
I agree with comments about AY Effect. That was the first thing that came to my mind was the proximity of this house to the development. Who wants to pay almost $2MM to live near construction for 15 years?