House of the Day: 74 Lincoln Road
When 74 Lincoln Road was an Open House Pick back in early May, it had the optimistic price tag of $1,395,000; last week that asking price was trimmed to $1,295,000. This baby’s a charmer, to be sure: An unattached Colonial Revival house with lots of detail and in excellent shape; to top it off, it’s…
When 74 Lincoln Road was an Open House Pick back in early May, it had the optimistic price tag of $1,395,000; last week that asking price was trimmed to $1,295,000. This baby’s a charmer, to be sure: An unattached Colonial Revival house with lots of detail and in excellent shape; to top it off, it’s got a driveway and garage. Still, they’re not giving it away. Do you think this price cut will make a difference?
74 Lincoln Road [Brown Harris Stevens] GMAP P*Shark
Open House Picks 5/9/08 [Brownstoner]
Also, Heather Ditmas Park is only one and two stops or five minutes away by train from here. Ditmas is a lot nicer though with good public schools. Ditmas is doesn’t have much as going on as far as amenities but it has more going on than this end of Flatbush.
Heather,
The beer distributer is still a block north, on Lefferts Ave., between Washington & Flatbush Aves.
I still love this house and the location, even though I haven’t seen that block in at least a decade. The beer distributer down the block is gone, right? Pity. It seems a lot more convenient to me than Ditmas, and houses this big there go for this much.
There are very few gorgeous, renovated brownstones for 600k anywhere in bed stuy right now, particularly not a block from an express stop (and none of them are near prospect park). 600k will buy you a 3-story fixer-upper. There’s a 23 story condo building being put in a block from this building. There are recent comps within 3 blocks of this place, on maple and midwood and rutland. Clearly somebody thinks the neighborhood is worth investing in (including me.)
Yes, the public schools in PLG are bad, but judging by the spelling on these boards, very few of you went to decent schools.
this is such a pointless discussion. the house is overpriced and will drift for some time before someone with that kind of money is ready to make a move. the economic indicators are worse every day. citi is slashing even more i-banking jobs. buying a single family home that is this big is like buying a hummer as your daily driver. who needs 7 bedrooms in an area where you will have to send your kids to private school for $25k per year each? That’s $150k for 6 kids per year ($2mn present value at 3%). back when you could actually buy this for $600k (when, 2 or 3 years ago?) and heating oil was a fraction of today’s cost, it might have made sense. not today. this is an overpriced, specialized product with a very limited target that is dwindling every day. also, why couldn’t this be $600k? there are gorgeous brownstones in bed/stuy for $600k now. you don’t have to go to Indiana to find that.
yes! Go west young man.
5:02, i’m glad you understand the brownstoner mindset.
So basically what some of you are saying is that anyone who does not want to spend 1.3 million for a house that is:
A)surrounded by apartment buildings
B)on a corner with lots of noise from people hanging out
C)next to a major thouroughfare with lots of traffic noise
D)in an area with a relatively small number of basic amenities
is a flaming racist and/or does not have a true appreciation of New York and should move to the mid west. Do I have that right?
This house is way over valued in it’s asking price. You have comparable sales within a 1/2 mile selling for considerably less. This deal well never get funded by a bank in today’s environment unless it has a purchase price of $700k or less. Unless some foolish buyer put down 50% down payment this deal will never close.