House of the Day: 432 Prospect Place
This two-family house on a 131-foot lot at 432 Prospect Place will likely appeal to many in the market: Nice original details, modern kitchen, landscaped backyard. One unusual twist is that the floor-through rental unit is on the top floor as opposed to the bottom, raising unaddressed questions about the need for an internal staircase…
This two-family house on a 131-foot lot at 432 Prospect Place will likely appeal to many in the market: Nice original details, modern kitchen, landscaped backyard. One unusual twist is that the floor-through rental unit is on the top floor as opposed to the bottom, raising unaddressed questions about the need for an internal staircase in the owner’s triplex. As for the asking price of $1,725,000, were it a block or two to the west, it would be a lay-up. Not that neighborhood boundaries are the most important thing when it comes to pricing, but it’ll be interesting to see whether a house that’s technically in Crown Heights can command this kind of number.
432 Prospect Place [NY Times] GMAP P*Shark
Here is a link to the story 4:44 cited:
http://www.amny.com/business/am-lure1004,0,2610823.story
obviously some people do it…
4:41: Private school is $25k/year, or an additional $2k/month per kid.
Who’s got that kinda money to toss around, while paying another 4-5K for a mortgage?
They stay in their 2 bedrooms, I think.
Did you read the article today about people moving from the burbs back to New York City? They seemed thrilled to go to the supposed bucolic suburbs only to find their car centered lives empty and monotonous.
Then they moved back to the city (both examples into 2 bedroom places, I believe) and said they were so much happier. I realize these are isolated examples but my point is…that while you might think it’s rough going and that space is limited…try thinking about what’s REALLY important to you in life.
Is is more bedrooms or is it the chance to live in a vibrant, dynamic, urban area where you really get to live life “awake” as I believe the article commented. I happen to agree which is why I re-used that word.
I know it’s probably not an easy call, but something to ponder certainly…
Most people in your position either compromise on space and buy in an established area or start looking in less established areas where they are willing to stick it out long term and send their kids to private schools, hence the steady march of gentrification into areas like BedStuy.
3:30 here again.
I want to be a bit more clear. What I’m saying is if I want to expand to 3 or more BRs or a townhouse, which is my dream, I’m totally priced out, even though I’ve hit the real estate lottery with my current pad. Moreover, my friends and colleagues, who didn’t buy when prices were low are now screwed and can’t afford a decent 2br apt.
My options to stay in BK are limited: move to a crap hood where I can sort of afford a townhouse; buy a bigger condo in a less crappy area, that’s still expensive with expensive monthly fees.
For someone who wants to say in brooklyn, its very difficult to grow and raise a family here, particularly considering the price of housing and state of the schools.
What do other’s do?
“What kinda salaries do you need for these places? Seriously? Am I just priced out of the BK. I feel like I’ll never be able to “move up” like George Jefferson.”
Most people in the real world would not consider moving from an 800K place to a 1.7 million place “moving up”
They’d consider that winning the lottery.
I think you need to be slightly more reasonable.
800K to 1.2 million. Fine…a stretch perhaps…but much more in line than trying to buy a place TWICE what your house is worth.
Come on.
Changing the c of o to a three-fam would involve a lot of money and building either a fireescape or a sprinkler system. THe easier solution would be turning just the garden florr into a rental and having an upper triplex, parlor kitchen, and a deck with stairs to the garden. That wold be way easier.
And it is a south garden, and a huge one at that. I live on the same side of the street a few blocks west.
Three-stories on this side of washington are going for almost that much, so it might fly if the building is solid.
Does anyone know if this is a flip? Has a certain flip-ish look to it.Just asking…