House of the Day: 491 East 17th Street
This 3,500-square-foot one-family house at 491 East 17th is advertised as being on “the best block in Landmark Ditmas Park.” If that’s true, we suspect that this is one of the less good-looking places on the street due, in large part, to the brick addition on the front of the house. The interior, however, is…
This 3,500-square-foot one-family house at 491 East 17th is advertised as being on “the best block in Landmark Ditmas Park.” If that’s true, we suspect that this is one of the less good-looking places on the street due, in large part, to the brick addition on the front of the house. The interior, however, is very charming. And, considering that the house across the street sold for $1,900,000 last year, the asking price of $1,300,000 for this place may look interesting for those with a hankering for the Victorian nabe.
491 East 17th Street [Mary Kay Gallagher] GMAP P*Shark
4:48 afraid he bought at the top
The maintenance and upkeep on these homes is definitely more than it would be if you purchase a condo/co-op or new home but after an initial investment in updating heating system to include zoning, insulation etc… the monthly maintenance would not be much more than any older home. No one needs to paint a home semi-annually (every half year.) I am thinking that you meant bi-annually (once every two years) which is still not necessary. Most of my neighbors who still have cedar clapboards and shingles or those who have removed the artifical siding to restore the original cedar sidings, have paint jobs that last about eight-ten years with subsequent paintings easier to do than the first. The intitial cost of removing that ugly siding is comparable to having a Brownstone refaced properly. Old homes are not for the faint of heart and so homeowners might want to learn to do minor repairs themselves.
Victorian Flatbush is obviously an alternative for families priced out of Park Slope which is why we have so many former Park Slope residents in the area. The prices have not risen as fast as Brownstone neighborhoods which makes it affordable to that demographic. The area most certainly doesn’t have the amenities of Brooklyn’s Brownstone neighborhoods but the trade off is more private outdoor and indoor living space. Public greenspace is limited but with close proximity to Prospect Park, the Parade Grounds, Tennis Courts and even horse riding stables this too can be conquered. The issue with the schools is the same that would be encountered in any number of Brooklyn’s gentrified areas. Public Schools improving but not as good as 321. I have strolled along Church Avenue which I find to be a vibrant, busy thoroughfare. No need to wear running shoes unless that’s what you prefer. I have never been bothered while walking there. There aren’t too many shops there that suit my personal tastes other than vegetable stands and fish markets. Cortelyou is usually pretty busy and well lit at night. Even Newkirk and Foster Avenues see more foot traffic now and are under surveillance by NYPD cameras. As far as this particular home is concerned, it was more than likely built before 1920. My house was built in 1903 – technically post- Victorian in the Edwardian era, but it is listed as being built in 1920 as well. The same holds true for may area homes.
As far as safety is concerned, the neighborhood is more or less as safe as some blocks of 5th Avenue in Park Slope were 10 years ago. And who on here doesn’t wish he or she had bought a place there 10 years ago? Who on earth would have thought condos would be going up on 17th Street and 4th Avenue. You probably still need “running shoes” if you get off of the subway late at night around there.
Also, I have no investment banking buddies and even fewer friends I need to impress.
As for being priced out, if this place is selling for 1.3, then I’m sure you can find other places (one bedrooms, twos, etc.) selling for a lot less than comparable places elsewhere. So, my definition of someone who is “priced out” of Park Slope is broad. You’d be lucky to get 1500 square feet for a million bucks in PS.
in analyzing the asking price, one should factor in a present value analysis of the future heating oil prices as it will take a boatload to keep this beast heated. also, do the same with semi-annual painting and throw in the odds and ends for inevitable maintenance. your total purchase price in excess of something reasonable on these counts is probably $3mn. owning this is like owning a 59 chrysler imperial as your daily driver to connecticut. beautiful and big, but absolutely impractical.
Queens.
for 1.3mn, you’re not really priced out of park slope, just out of prime ps brownstones. unless you have 5 kids, you can live without this house. plus, how would you explain where you live to your investment banking buddies. first hurdle: ewww, brooklyn? ok, so which hood, the heigts? -> second hurdle: dit-what park? do cabs even go there?
btw, person just “discovering” victorian flatbush. first stroll you should take is along church ave. south of the park. wear your running shoes…
This house was most likely built with the bricked in porch. There are hundreds of miniature versions of this house on the other side of Flatbush Avenue (East Flatbush) that look as they did when they were built in the mid 1920s – brick porches and all. Interestingly from the Property Shark record it looks like the owner did one of those facade easements – so getting rid of the brick porch won’t be easy.
this house is charming. like a 70’s leisure suit.