House of the Day: 1290 Pacific Street
Wanna live in a house designed by the same architect that designed the Museum of Natural History (or a wing of it, anyway? This spectacular 2-family brick sits on a double-wide lot at 1290 Pacific Street and is absolutely dripping in details. (In addition to the museum, the architect JC Cady also desgined the Union…
Wanna live in a house designed by the same architect that designed the Museum of Natural History (or a wing of it, anyway? This spectacular 2-family brick sits on a double-wide lot at 1290 Pacific Street and is absolutely dripping in details. (In addition to the museum, the architect JC Cady also desgined the Union Methodist Church around the corner on Dean and New York Avenue.) In addition to almost 5,000 square feet of interior space, there’s also a long driveway that leads to the rear of the house. The major drawback of the house is that it is wedged between some larger apartment buildings and is a little too close to a rather noisy corner of Nostrand Avenue. Interestingly, this house was bought by a couple of British artists back in 2003 for $610,000. While renting part of the house out to some other artists, the owners renovated the house and did a lot of work on the front garden area as well. It’s tough to know what to make of the asking price of $1,450,000. On the one hand, its a one-of-a-kind house with an impeccable architectural pedigree; on the other, unfortunately many of the people who have that kind of dough to spend aren’t ready to rock Crown Heights yet, historic district or not. We hear that the owners briefly tried to go the FSBO route before handing off the Brooklyn Properties. This’ll be an interesting one to watch for sure.
1290 Pacific Street [Brooklyn Properties] GMAP P*Shark
to 3:39
This house is subprime and the only jerk that pays even a mil is sick. If a bank finances this with 20% down their even sicker. I’d short their stock if the bank were public.
to 3:39
This house is subprime and the only jerk that pays even a mil is sick. If a bank finances this with 20% down their even sicker. I’d short their stock if the bank were public.
Double-wide lot, front yard, lovely interior,
but there is something visually jarring about that porch… doesn’t seem to complement the house at all.
IMO the location, at this point in time,
doesn’t warrant that kind of a “price tag”.
The interior details look nice, but the exterior is positively creepy to me. Like Addams family-esque.
2:23– do you understand what the word ‘subprime’ means? A house cannot be subprime.
2:56– your model says that if the Fed _cuts_ rates housing prices fall? Wtf? Seriously I’m not trying to be a dick, I just want you to walk me through how cheaper money and reduced risk premia leads to _lower_ residential RE prices.
I believe the house is classic Romanesque Revival. But this was closely followed by a revival of the Colonial style — which the porch looks more in line with. There was so much going on architecturally at the turn of the century that it seems quite possible that two seemingly disparate elements would be combined. But I’m just speculating — it would be great to have an actual expert weigh in!
I predict it will be valued at $610K by 2009.
Gibberish aside, this is an interesting listing. Almost anywhere else in brownstone Brooklyn, this is a 2 mil + house. This may sit on the market for a while, not because mortgage rates are up, but because it’s only going to appeal to a rather thin cross-section of buyers, cheap money or not. As for crossing Atlantic, there are a few places with traffic lights around there.
The columns around the door and lintel don’t go with the rest of the house, which has an early Frank Lloyd Wright vibe to me. maybe a later addon?
Does the sale come with a bullet-proof vest? For 1M, there are many neighborhoods that are far safer than this one.