House of the Day: 1230 Dean Street
As careful a renovation as the owner of 1230 Dean Street did, this place had no business being listed at $1,650,000. Which is why, after six weeks, the asking price has been reduced to $1,499,000. Unfortunately, we suspect that the three-car garage and landscaped garden won’t be enough to get the deal done at this…
As careful a renovation as the owner of 1230 Dean Street did, this place had no business being listed at $1,650,000. Which is why, after six weeks, the asking price has been reduced to $1,499,000. Unfortunately, we suspect that the three-car garage and landscaped garden won’t be enough to get the deal done at this price. But don’t feel too bad for the sellers—after all, they bought the place for $427,450 back in 2004.
1230 Dean Street [Corcoran] GMAP P*Shark
Ok house on a nice street in the middle of a serious shit-hole. Sounds like a deal.
Ok, so Atlantic Ave isn’t Rue de Gorgeous. So what? The house isn’t on Atlantic Avenue. If being damned for being 2 blocks away from unattractive thoughofares works for this house, then let’s line up parts of Fort Greene, Clinton Hill, Prospect Heights and Park Slope for the same scrutiny. I’m sure I can come up with some other less than attractive roadways, too, but that’s not what this is about. The proximity to Atlantic Ave is rarely a criteria for prices for these other neighborhoods, and when it is mentioned, it doesn’t receive the same kind of Baghdad nonsense.
I happen to think this property is way overpriced, but not because the block it’s on is in the middle of a slum, because I don’t live in a slum. I’m not going for the bait anymore today. If people want to talk about comps, or the merits of the house, great. Calling Crown Heights the definition of a slum is only waving a red flag in the faces of those of us who love our neighborhood, warts and all. Wave away, y’all. Not going for it today.
Crown Heights gentrifiers live in a bubble. It’s not that far from South Bronx in the late ’70’s. Hell, my friend in Prospect Heights near Washington Ave has already been mugged on his doorstep and he hasn’t been there two years yet.
Liking the reno; hard to tell about the kitchen floor but it might just be really waxed. The library/study is awesome.
I think this house might be an example of bad timing. A year ago it might have sold at this price or slightly less, but now, with a lot of buyers sitting on the sidelines, it may languish.
Which is a shame, because you aren’t going to find many complete, move-in townhouses anywhere closer for much less. (Well, maybe far South Slope, or eastern Bed-Stuy, but it’s sort of a wash). I’d also think the garage is worth $50-100k. It would be to me. Hopefully someone will track this place when and if it sells and link back.
Look Momie, more overpriced shit. Gee I wonder if real people will live here.
Fannie Mae sees more housing, credit pain in 2008
Lender forecasts more credit losses, home-price declines as high as 12%
The information was posted on Fannie Mae’s Web site in a road-show presentation supporting its offering of $7 billion in non-convertible preferred stock, which the company unveiled on Tuesday. Fannie Mae is also slashing its dividend by 30% in a move aimed at boosting its capital to manage risk in the housing and credit markets.
Fannie Mae sees a 3% decline in home prices through the end of 2007, and losses between 4% and 5% next year “although the precise timing of the declines is difficult to predict.” The months’ supply of total existing homes increased to 10.8 months in October from 7.4 months a year earlier.
http://www.marketwatch.com/news/story/fannie-mae-sees-more-credit/story.aspx?guid=%7BEC7E929B-ACF2-4799-8E97-BF10FDC2CD12%7D
The What
Someday this war is gonna end..
BTW How many crackheads can afford this? Do the math.
Nice house but I’m not crazy about the reno. All it’s missing are Tony and Carmela.
This is not overpriced. A four-story that needed a gut reno just sold on Dean Street for 8ook.. This is right on target if it sells for $1.25 million. Gorgeous block and Crown Heights North is beautiful. There ARE BAD parts, including the Albany Projects but that is a different ballgame. —
Crown Heights Res
Nice house, nice renovation, nice area. Might be a little high priced, but the marketplace will determine that. Crown Heights is a great, diverse neighborhood with magnificent architecture and diverse community. Does have its grittier areas, but it’s far better than some parts of NYC. It’s quite far from a slum.
People on this site trash 4th Avenue in PS as some horrifying dump and yet gleefully talk about spending millions to live in these slum neighborhoods.
Historic district or not, Crown Heights is the definition of slum, and the earlier poster’s comment about Atlantic Ave is spot on – it looks like Baghdad on a bad day.