House of the Day: 119 Bainbridge Street
Based purely on anecdotal evidence, it seems like houses in Bed Stuy—even the best ones—are having the most trouble in the post-subprime world. Take 119 Bainbridge Street, for example. The four-story, 4,132-square-foot house is a beauty and is on one of the nicest streets in Bed Stuy. Back in September, the house was listed for…
Based purely on anecdotal evidence, it seems like houses in Bed Stuy—even the best ones—are having the most trouble in the post-subprime world. Take 119 Bainbridge Street, for example. The four-story, 4,132-square-foot house is a beauty and is on one of the nicest streets in Bed Stuy. Back in September, the house was listed for $1,300,000. Now, the asking price has dropped to $1,000,000. Clearly the lack of buyers is about the overall market and the neighborhood more than a statement about the house, which has rocking woodwork. What’s the market-clearing price on this one?
119 Bainbridge Street [Brooklyn Properties] GMAP
Open House Picks 9/27/07 [Brownstoner] P*Shark
I’ve seen this house. It’s very cute, a bit small but could easily work nicely for a family with 1-2 children. The backyard is very big. It lacks some inate charm, but whoever buys it can add this as they want. I think it will definitely go for between 1-1.1M. The market for houses in neighborhoods with decent public schools, subways and amenities is still very, very good. For coops/condos it’s slowed down more. These are just the facts people.
I saw this house on sunday. The block is rather disenchanting, and the house is next to a garage of some kind. The living/dining area on the parlor is quite small. The kitchen is a joke – appliances look like they were tossed in there. It’s also quite small. No charm to speak of. Interesting use of garden floor and a little extension gives some needed breathing room. There are 2.5 bathrooms, which is nice. And they’re done fairly well. All in all, I wasn’t super impressed. I’d rather buy a 3 bedroom coop on a better block.
there is no way this place sells for over 750K.
the block is HORRENDOUS.
and the neighborhood ain’t much better.
I think this house should be listed around 850k – 900k… I don’t think it has been renovated
The house next door to this sold for 1.1 million a little over year ago. However the house next door also had an entirely seperate charming brick building in the back yard that comprised two small one-bedroom rental units. It also needed more work. I would guess this place goes for a 1 million. There is a post office parking lot just across the street.
I’ve been inside this house (it’s around the corner from ours) and it’s a good flip job. They have taken the time to nicely restore the molding and details, and the parlor floor kitchen is custom with a very pretty window. It’s certainly move-in condition. As we are now finding out, even minor renovations can be costly and time-consuming, so I think it’s probably worth $1.1-$1.2, and maybe even $1.25.
My one pet peeve on the renovation (aside from the yukky paint) is that some of the fixures are still Home Depot, allbeit high end HD. But that’s easy enough to change — and they look okay. You would only know they are cheapo if you have been trolling HD lately.
The other thing is that this block is a little shakey — several of the surrounding houses are not in very good shape. But that also seems to be changing as the neighborhood improves.
4:25 you are not alone.
Us, “black people” live in neighborhoods where people hate our guts b/c of the color of our skin on a regular basis and work for some too. Being white doesn’t make you a good neighbor.
Bad generalization, get over yourself.
I think the peach color is an effort to be neutral but not bland. they probably assume people will change the paint anyway and choose not to paint it any other color as it may distract from the other characteristics of the house if the color is too bold and white is just so institutional.
Believe me, I understand burn out. This place needs so much work, and you’d have to take it a very small bit at a time, as time and money allow.