House of the Day: 1087 Prospect Place
This double-duplex house on a dead-end block of Prospect Place in Crown Heights just hit the market this weekend and won’t have its first open house until next Sunday. Unfortunately, there aren’t any interior photos up yet. (Update: Photos are up now but aren’t very conclusive.) The listing references the fact that the house (which…
This double-duplex house on a dead-end block of Prospect Place in Crown Heights just hit the market this weekend and won’t have its first open house until next Sunday. Unfortunately, there aren’t any interior photos up yet. (Update: Photos are up now but aren’t very conclusive.) The listing references the fact that the house (which is one of four identical ones from 1912) is on a “Model Block” from the 1960s, which, combined with the fact that it is bounded at one end by Brower Park, makes for a quiet residential vibe. Also, since this was originally designed as two separate duplexes, chances are that they work nicely as such. One potential negative: There are projects a block away. We’re unaware of any recent comps —and have no idea what the interior’s like—so your guess is as good as ours about whether the asking price of $849,000 is reasonable. Perhaps someone has been inside?
1087 Prospect Place [Corcoran] GMAP P*Shark
What would Cosmo Kramer say about this? See 2:11 or 4:05pm
What would Cosmo Kramer say about this? See 4:05pm
What you don’t understand is that black people de-value a neighborhood in the eye of a racist; and since most appraisers base value on color hire a few white people to walk around your house, and one or two on the inside (pictures on the wall too) and you can almost double the value of your house on that appraisal. Try it, it worked for me.
Doesn’t it make sense that a house would cost $850k in Crown Heights if it costs 3x that in Clinton Hill and 6x that in Brooklyn Heights and 10 to 20x that in Manhattan? Crown Heights is very far away from Bagdad or Afghanistan.
It looks like a better investment deal than something in the south slope that’s half the size and even more money, honestly. Has good bones. It’s overpriced yes, and neighborhoods like this will suffer when the market corrects, but all in all, compared to some things on this blog, it’s a good deal.
I have been driving through Crown Heights about twice a week for several months now for work, and have been awe struck by the beauty of this nabe. I had no idea such lovely houses with nice lawns were there. One thing that holds true with NYC real estate: areas with great housing stock always come back, and once they start coming back they don’t stop. This area is already coming into its own again, and with good reason. This area is stunning.
Buy a house that you can afford, and you should have no fear of falling prices. If these prices fall, so will all others.
the price is an insult.
Ah, but guest, this is not the world of the 50’s through 70’s. One of the major factors in the flight to the suburbs was racism and fear of black people. While the crap spewed both overtly and covertly on this board by some of our less enlightened Neanderthals to the contrary, the world is a different place. Accomplished, educated, middle class as well as wealthy black people (while always existant, even back then) are no longer an anomoly in today’s society. Our mere presence does not engender mass white flight any longer.
Secondly, this is the twilight of the age of petroleum. People are no longer willing to spend a fortune on gas to commute, and are looking to stay close to jobs, as well as to enjoy the cultural amenities that exist in cities. More and more people also want to raise their families in areas of cultural diversion. This is a much more global society than 50 years ago, or even 30 years ago. Communism is practically dead, and enlightened people want to be able to sample the cultures of the world, not isolate ourselves from the differences of the “other”.
These may seem to be minor causal effects in the rise of cities, but they are in the whole picture, part of the reason that cities are again in vogue. Of course, all things are cyclical, but I don’t think those cycles will be turning rapidly anytime in our lifetimes.
people still say it about harlem. maybe not as many people, but lots have no desire to live there.
and east harlem ain’t no walk in the park.
even in 2007.