House of the Day: 411 Classon Avenue
We’ll say this for 411 Classon Avenue—it’s a better flip job than you generally see in the area. The four-story brownstone between Lexington and Greene on the Bed Stuy side of Classon changed hands two years ago for $890,000. Given the time that’s elapsed and the fact that the kitchens, floors and back yard all…
We’ll say this for 411 Classon Avenue—it’s a better flip job than you generally see in the area. The four-story brownstone between Lexington and Greene on the Bed Stuy side of Classon changed hands two years ago for $890,000. Given the time that’s elapsed and the fact that the kitchens, floors and back yard all look redone, the current asking price of $1,245,000 doesn’t sounds crazy. Unfortunately, that’s not how sales prices are ultimately determined. We suspect that the supply and demand curves may intersect a good bit below this price. After all, while blocks on either side of it keep getting nicer and it has some nice houses, it’s hard to see how Classon Avenue as a whole ever really catches up. Agree?
411 Classon Avenue [NY Times] GMAP P*Shark
There is a very interesting issue here, that has been identified by at least two people so far: everytime this neighborhood, which clearly feels like part of Clinton Hill is discussed, there seems to be high level of vitriol, and misinformation concerning the safety of the neighborhood. The discussion is also mile’s long.
I live two blocks away, and have seen the area change before my eyes…particularly in the last 12 months.
I think any rational person would agree, that price is a function of desirability. The more people that want it, the more it costs. That’s why it’s more expensive to buy in established neighborhoods. If this neighborhood was incredibly desirable right now, the house would sell for more than $1.2M. But smart people look for neighborhoods in transition. And this is clearly a neighborhood in transition. The new developments on Greene and Lexington clearly demonstrate that, as well as the overall feel of the area.
I am guessing that a lot of the ‘hate’ comes from people who bought in the ‘REAL’ Bed-Stuy, who have seen their area stall. If this area is as bad as they are saying – which, incidentally, it isn’t – they why would they have such strong feelings about people trying to better it? Surely gentrification is better than the horror that is portrayed.
The answer can be seen in the raw emotion of the posts. This level of emotion is rarely a product of common sense. It usually comes from a deeper cause….
anyone who is saying you can’t walk on franklin at night knows NOTHING about this neighborhood NOW. Nothing.
yeah…in cartons about to be sold on the black market, maybe.
Franklin is perfectly fine at night, I’ve never had a problem or really felt uncomfortable regardless of the time. However, there are times walking back from the train that I rarely see anything but skinny jeans and messenger bags.
i live in park slope and like both bed stuy and crown heights.
also If you told someone in 1975 that a 1bed on ave B was going to sell anywhere above 500k in 2007 they would have shot you.
My, my, my…
TheGrammarLady here,
Well, there has been a lot said on this thread. Not much really…but a lot said. Such arguing.
Frankly, the house on its merits: it’s rather ugly with a lousy looking redo and ice-skating rink polyurethaned floors. You have to feel sorry for the people who get themselves into these real estate deals, hoping to turn a huge profit a year or two after buying. Just like in the late 80’s into the early 90’s, there will be those left holding the bag.
I’m glad we’re all set for the time being.
Don’t get up that way too much unfortunately but when I have it appears to be fine. People are posting about it as though it’s Fort Apache. Please, Kids, let’s not exaggerate.
FG/TGL
don’t forget the crown heights boosters. they are full of quite a bit of hate as well.
From every person from Bed Stuy I’ve encountered on this blog, there does not seem to be more of a mean-spirited sense of hate by any other group.
Even the Park Slope boosters are more welcoming.
go back to shady side, pa! real women have No problem here. and i went to bryn mawr!