House of the Day: 106 Park Place
When we included 106 Park Place as an Open House Pick back in January, it had just been listed at $2,850,000. A month later the asking price was reduced to $2,725,000. A month after that—in mid-March—the price came down again to its current level of $2,495,000. This still seems like a lot of dough in…
When we included 106 Park Place as an Open House Pick back in January, it had just been listed at $2,850,000. A month later the asking price was reduced to $2,725,000. A month after that—in mid-March—the price came down again to its current level of $2,495,000. This still seems like a lot of dough in this market for a 16.67-foot-wide house that traded for just $1,300,000 in 2006. The four-story house still has some very nice original detail in it, but it’s a far cry from some of the jaw-droppers that have been on the market in Park Slope recently for not a whole lot more than this.
106 Park Place [Corcoran] GMAP P*Shark
Open House Picks 1/25/08 [Brownstoner]
This house is NOT worth the asking price. The gut renovation was done BEFORE it was purchased by the current owner. Are they hoping to recoup what they didn’t even pay out? $1.3 about 3 years ago should be $1.3 or less now.
I don’t think they were trying to flip. They spent way too much time and energy being nasty to their tenants to get them to move out. I think they thought they could just use it as a one-family, and they have just now realized that it’s not that easy.
Apparently they hadn’t done their homework before they bought the place, and thought they could just evict their rent stabilized tenants, including a terminally ill tenant on the top floor. Tough luck. The tenants didn’t leave for years, and the owners only recently got access to the backyard (there was no access from the parlor floor, you had to go through the garden apartment.) They were completely unethical and inhumane in their behavior towards their tenants, by the way. Somehow they thought that their ownership of the building trumped their responsibility to be decent human beings.
And now they’re having problems with the C of O? Karma’s a bitch. Good luck selling the place.
But
massively
overpriced
This house is great.
I think this could be a great house, but it needs work. The work that has been done seems just o.k. in quality. I think the kitchen renovation quality is not so great and the upstairs bathrooms all need updating. The garden level needs a lot of work. House really needs to be re-configured (so that you don’t need to walk through bedrooms to get to bathroom). The light fixtures give this house a modern feel (but do not come with the house). Not sure how I feel about the floors (though again give the house a modern feel).
How does one figure out in this market what is a good deal (6:04)? While I agree that brownstone Brooklyn is wonderful, I think it is important to make wise financial decisions. Does anyone have information on status of similarly piced homes in the slope. Have any houses above 2 million sold this Spring. When does the spring market officially end?
Hate to side with the spammer, but I’m not a young (or, alas, middle aged) person anymore and my eyesight is not what it once was, particularly in my left eye because I suffer from cataracts. It is honestly much easier for me to see darker text. I realize I’m older and probably not the main demographic for this site, but insofar as I have a vote, I will cast it for darker text.
The problem isn’t that the type is faded–it’s that it’s not faded enough.
I live on this block. That house is awesome, and the block is amazing. Park Place is right in between the Q and the 2/3 at Bergen. You’re close enough to center slope, but the best part is that due to all the triangle stree layouts, you’re close to 5th Ave, prospect heights, walkable to FG, CH and Boerum Hill. Really nice old trees on that block, and St Augustine’s Church is stunning and plays chimes every half hour. Brownstone prices are high. If you have the dough, go ahead and buy it- it’s a good buy. If you’re betting that it’s going to take a nosedive, then your betting in general against brownstone brooklyn, and you should never buy one.
I actually went to an open house out of curiosity (grew up three houses away) and I think it’s pretty darn nice! Bathrooms could be better, and I agree about putting them in the middle of the house. I myself would have put the kitchen in the front, narrow part of the house and the living room in the back. I’m not crazy for the new floors they put down, but my mother thought they were great (everything is a matter of taste). As for sprinklers, that’s because the c of o still has to be changed (allegedly they’re in the process) and then they can be removed. But the facade can’t be “redone,” it’s greenstone, which always looks fuddy duddy. Nice new kitchen (even if in wrong place), nice new half bathroom, and a house that (for once) hasn’t had SUCH a gut that it looks all shiny and Toll-brothersy. Please, not every house has to have a million dollar gut renovation so that it looks like a Victorian on speed. Some of us like the oldness of an old house (creaky floorboards and all).
Now, as for the price…not theoretically unreasonable, I don’t think, for the block (great block, speaking from experience, and right by non-F subways). But it is narrow, and the layout’s a bit funky. Whatever, they’re trying to flip, the market’s bad…all of these houses are only worth as much as one person is willing to pay. If I had the dough, I might actually buy it. But it would probably be a stupid investment as such.
There’s one color, two different shades. A lighter and a darker.
This is what this site is becoming, we’re now talking about the text, not about the real estate.