House of the Day: 325 East 17th Street
Corcoran must have used an entire case of Pledge shining up the woodwork for the photos of 325 East 17th Street. The Beverley Square East Victorian has lots of original woodwork and inherent charm but the renovation (which must be pretty recent) feels a little overdone to us in places (a 48-inch commercial stove?) and…
Corcoran must have used an entire case of Pledge shining up the woodwork for the photos of 325 East 17th Street. The Beverley Square East Victorian has lots of original woodwork and inherent charm but the renovation (which must be pretty recent) feels a little overdone to us in places (a 48-inch commercial stove?) and lacking in taste in others (what’s up with that fence). It’s like the owner is trying to force an attractive middle-class house and put it on steroids in the hopes of selling it for top dollar. It’ll be interest to see how the asking price of $1,695,000 goes over. This is east of the tracks, after all, a far cry from Westminster or Argyle Road when it comes to property values. There was an open house yesterday—did anyone check it out?
325 East 17th Street [Corcoran] GMAP P*Shark
Well, actually, I would rip out that pine tree in the front as my first order of business if I ever bought the place. I’ve seen the house from the outside, and don’t understand why anyone would plant such a large, wide (and ugly) tree right in front of what appears to be the living room area. It blocks any and all natural light.
The zoning for most of BSE is R3, so no high rises going up on most streets, although the Beverley Rd. border is zoned R6 and there is a high rise building going up at the moment.
BSE has some houses with great bones, but it has, generally speaking, declined more significantly than other parts of Victorian Flatbush over the years (check out the language used in the Victorian Flatbush House Tour guide). That used to mean that bargains were still to be had there, relatively speaking, and that was part of the appeal for buyers looking to get a foothold in the neighborhood. There are several houses in BSE that are undergoing highend renovations, reshingling etc… so seems to be some transitioning going on.
This is in Beverly Square East, between Cortelyou and Beverly Roads. This area is not landmarked. Zoning is R3-2, with a .6 FAR. Teardowns have occurred on the R6 lots, but none on any R3-2 lots that I’m aware of.
The lot is unusually wide for this area: 75 feet, 50% wider than the typical 50′ street frontage. Similarly, the house is unusually large, at over 4,320 square feet.
Other houses in the area of more typical scale have sold this year in the $1.3-$1.4M range. My initial reaction to the ask of $1.7M is that its high. But taking the size of the property and house into account, and the details present, it’s not that out of line. I think it will go for close to asking. No bets on how long it will take to find the right buyer.
The only problem, according to Barbara Corcoran, is the lawns, trees, and other plants. They need to rip them out, pave them over, and convert it to parking to really pump up that sales price.
Fort Greene is super but is wildly overpriced at the moment, imho.
Run-down brownstones in FG are listing over $2M right now even for the 3 story ones. But you don’t need a car there. There are some in Clinton Hill still listed under $2M, but if you’re not willing to walk 8-10 blocks to the subway, you need a car for much of CH because the G train goes nowhere.
I am 2:36 – 1:48/2:41: i suspect the zoning in that area (even if its not a landmarked block) makes it unlikely that developers will start knocking down those houses. I would imagine if the zoning permitted it you would have already seen that happen and you haven’t. Of course who knows if that will change. As for the neighborhood as a whole (and i say this as someone with no vested in interest in Ditmas Park since i don’t live there) i think it will do well as long as the city continues to do well. Ditmas Park may be an hour from midtown but its more like 30-40 minutes from wall street. So for people looking for a large home for a relatively inexpensive price, and good commuting time, its a good deal. I know people that have bought in the area for those reasons and i don’t think they are the only ones that think that way. But who knows, i am not psychic.
You can get a house like this in a solid town in Bergen County for 800,000 to 900,000 but your real estate taxes would be much higher, on the other hand you could send the kids to public schools.
Brooklyn does seem to be overpriced considering the density and crime issues but whether or not prices will fall is anybody’s guess. I would say that if they have not fallen yet, they probably will not.
This seems to me a better deal than a run-down brownstone in Fort Greene for two million.
went you start using “drive time” to describe distance you’re screwed.
As soon as you start talking about driving into Tribeca, you tell me you ARE in the burbs. In mindset if not in geography.