House of the Day: 272 Halsey Revisited
On the heels of several price cuts on Bed Stuy townhouses last week comes news that 272 Halsey, which we featured back in June when it was on the market for $1,175,000, has had its asking price reduced to the oddly specific number of $1,097,450. Although this is a cute house, it needs some work…
On the heels of several price cuts on Bed Stuy townhouses last week comes news that 272 Halsey, which we featured back in June when it was on the market for $1,175,000, has had its asking price reduced to the oddly specific number of $1,097,450. Although this is a cute house, it needs some work and was overpriced to begin with so there’s not a whole lot to read into here. Our guess is that it’ll have to come down at least 10 percent more before finding a buyer.
272 Halsey Street [Corcoran] GMAP P*Shark
House of the Day: 272 Halsey Street [Brownstoner]
Price Cuts at Bed Stuy Townhouses: Is This a Trend? [Brownstoner]
5:01 is right.
There are neighborhoods in Brooklyn where you are expected to pay for what is already there. And there are neighborhoods, like Bed Stuy, that are priced as though 5 or 10 more years of change have already happened.
Those neighborhoods will be hit hardest if the market weakens.
guest 5:01, this house is one block outside the Stuy Heights historic district, and is in the part of the neighborhood calendared for HD expansion. Definitely would be considered Stuy Heights.
I’ve been to Bed Stuy many times.
It’s great, but not 1 million dollar great.
Most homes in Ft. Greene do not sell for 3 million dollars. They are few and far between. Most are more like 1.5 or 2. And the neighborhood has come a long way, has services, restaurants, an improving park, etc.
Bed Stuy doesn’t have much of that stuff. That’s why I wouldn’t pay that kindof money. If the economy takes a tumble, which they are now saying it might, Bed Stuy won’t be getting any new services for quite some time.
My point is, don’t pay for what you think might be down the road, because who knows if it will ever come.
Places like Park Slope, Ft. Greene, Brooklyn Heights are already there. They have become established neighborhoods that have turned the tide.
I don’t believe that can be said for Bed Stuy at this point. Stuy Heights, yes, Bed Stuy, no.
4:33, I’ll be interested in your opinion once you’ve actually spent some time walking around the area.
Sure, you can argue that million dollar homes in Stuy Heights are ridiculous, just like 3 million dollar homes in Ft. Greene are ridiculous, not to mention 6 million dollar homes in Brooklyn Heights. But it all comes down to what the market will bear.
well, if the house has only had two owners, neither of them ever repointed the back wall or dealt with the serious moisture issues in the basement. It’s a lovely house upstairs, but there were puddles of water in the basement when I went to the open house 6 weeks ago, and the brick support columns were crumbling. I don’t know what kind of expense that would be, but they should have spent the money they used to redo the kitchen on fixing the issues in the basement. They did have a dehumidifier on full blast, but it wasn’t doing much good! As for the neighborhood, it’s changing very fast, but who wants to pay a mansion tax on a place with structural issues? Corcoran is wildly overpriced across the board. 100 decatur went for 980K, I think 999k is the absolute max for this.
Here’s food for thought: a similar house a block away on Hancock went for $905,000 not long ago and it needed a total reno. It was comparable in terms of size and historic charm but had numerous issues, both mechanical and cosmetic. If the place on Halsey really is in move-in condition, as it appears to be from the photos, then I think this new price could fly. Simply not having to strip the woodwork saves you $50K right off the bat.
Full disclosure: I’m not a broker, but I do live in the area. Like 4:17, I have not found safety to be an issue. Perhaps it helps that the precinct house is several blocks north on Tompkins, so cops are often walking by on their way to Fulton to get coffee or begin their patrols. But it certainly helps that people around here tend to know their neighbors and keep an eye on what’s happening, which is more than I can say for my previous NYC neighborhood.
Some people, when spending a million dollars on a home prefer not to have to keep such a close watchful eye on walking home.
For 250K, sure. I’d take some chances, not for a million bucks. Not saying that this place should be 250k, I’m just saying that for a neighborhood like Bed Stuy which up until 10 years ago was one of the worst in the entire country, million dollar homes are ridiculous. Maybe in another 10 years, but not now.
I’ts silly.
3:40, Halsey is a bus route x 2, as it is a 2 way street. There is always lots of foot and car traffic. If you got out of the train and walked up either Fulton to Thompson, or better, up Nostrand to Halsey, you will be just fine. I used to come home far later than that back in the 80’s 90’s and never felt unsafe, and I’m a single woman who lived a block away from this house. Street smart radar should always be on no matter where you are.
I live one block South and one block East, so in answer to the question about the area I can answer that it is great. I lived in Williamsburg for 6 years and this feels much nicer. The neighbors are super friendly, everyone looks out for each other, and there are people around even late at night so it always feels safe walking from the train. The only drawback to the neighborhood is there are not too many places to go out but that is changing, even in the year I’ve been there. I think the price is about right, maybe a little high, but not much.