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
Sorry, it means that you CAN rent it fot more than a garden apartment. Typo.
It’ll go for asking, easy. Sure it would be a lay-up if it were a few blocks west but then it would be 200K more. If you want to buy in an this price, you have to go to the other side of Washington for sure. And 3:30, you have to figure in the rental income from the top floor — which though you’ll be hearing your neighbors’ footsteps means that you can’t rent it for more money than a garden apartment. I would beware any predictions of the market bottoming out for sure though. What if someone said that to you five years ago? It made just as much sense then but prices have doubled since then. Though I’ll agree that’s unlikely in this climate, I certainly wouldn’t count on them going down in an up-and-coming neighborhood!
Cash out immediately, rent frugally and buy again when the market bottoms (few years), 3:30 PM. That’s how you “move up”. Buy low, sell high. Merely trading up at the top nets you nothing.
How rich do you have to be to be able to afford this house?
I have about 800K in equity in my place (I’m guessing…its really what the market will bear). I figure if I sold it, I’d clear (conservatively) $650-700 (that includes my payments to the tax man) for a nice downpayment. But I still couldn’t afford this with a lowish six figure salary.
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.
Very nice, clean spaces you could easily make your own. It doesn’t look like you’d have to do a thing before moving in there.
The garden floor could be turned into an aprtment (would be nice to see pictures). Is changing the CofO from 2 to 3 family that difficult?
There is an internal staircase that self contains the triplex from the rental unit that is not pictured.
the 2,3 at Eastern Parkway/Brooklyn museum is five min walk and the Q,D station at Carlton/Park Place is less then ten min walk. i
Is there a floorplan anywhere? Is this a For Sale By Owner?
Pretty.