House of the Day: 1094 Park Place
This beauty at 1094 Park Place in Crown Heights caught our eye as an Open House Pick last fall when it was on the market with Corcoran for $1,395,000.
This beauty at 1094 Park Place in Crown Heights caught our eye as an Open House Pick last fall when it was on the market with Corcoran for $1,395,000. It didn’t find any takers at that price back then, and it’s now being reoffered by Massey Knakal for $1,200,000. While that’s still a lot of dough for a house in Crown Heights in this market, at least it’s in move-in condition. And while some of the new kitchen finishes aren’t exactly to our liking, you won’t be lacking for cold storage space! And the covered driveway ain’t too shabby either.
1094 Park Place [Massey Knakal] GMAP P*Shark
Open House Picks 11/2/07 [Brownstoner]
“What, it seems yet again you are out of touch with the combined wisdom of the markets. Are you bigger than the markets, or are they bigger than you? Today:
DJIA: +1.85%
FNM: +22.69%
LEH: + 7.37%
C: +5.3%
AIG: +7.5%
Your shorts must be f*cking you in the ass today, with no lube.”
Nope Denton the Stock Market is for suckers like the World Poker Tour.
BTW This is a technical upswing on the markets but, September is going to be very funny.
Here Denton read this..
Anatomy of Bank Failures: Why the FDIC Needs More Money
http://blogs.wsj.com/deals/2008/08/27/anatomy-of-bank-failures-why-the-fdic-needs-more-money/
“If Treasury steps in with money, taxpayers foot the bill: We asked Comizio if the Treasury can keep forking out cash: Bear Stearns, potentially Fannie Mae and Freddie Mac, and now a little extra to the FDIC? “Treasury will come up with the money,†he said. “It’s a matter of how big the deficit and national debt you can run up.—
You see Asshats when not if this story gets rolling, there is going to be some real pain.
The What (Tick.. Tick.. Tick…)
Someday this war is gonna end….
Gary Cooper, as much as I want to go upside your head on several points, it’s late, and I’m not in the mood.
Oh, hell, why not? You’ve easily beat DOW and a couple of others for the ignorant post of the day award.
“This is an haute bourgeoise home. It costs a fortune to heat, furnish, and maintain.” Have you actually been in here? It is no larger than most 20’ brownstones, has as many windows as a corner or semi-detached brownstone, and takes no more or less furniture than one’s tastes require. The latest owners also replaced the windows, sealed up the place to a T, and installed a new HVAC system, so it is probably more heat efficient than 60% of the brownstones owned by people on this blog.
“I don’t see any future for it except conversion to small apartments.†– You haven’t seen it, so how can you make that statement? Not to mention such conversion is totally unsuited to the layout of the property, which was just recently totally renovated. But you don’t know that because you have no idea of what you are talking about.
“an affluent family would not want to live in this neighborhood (the rich are very sensitive about keeping their wealth and not being robbed)†– Uh huh. I got a newsflash for you…affluent people have lived here for years, and affluent people are buying in now. They may not look rich to you, because they are not white, or young, or flashy, but they are here. And who made you the spokesperson for the affluent, anyway?
“So it is unlikely that a rich family would live here,†– You are so wrong. Not everyone has your narrow set of standards of wealth, or desireability. Why not a wealthy gay couple, or a black or Latin family with 2 highly paid professional wage earners? Why not a wealthy white family that wants a beautiful house that only needs to have your suitcases unpacked in order to be done? Maybe all of them like the neighborhood now, and have the vision to see an even better neighborhood, and know that this house will be selling for $3 million in 5 years?
“The house is a goner. whoever pays a million for it will need to recover that investemet by chopping it up or by razing it and building a quickie condo.†– NOT. First of all, this area is going to be landmarked soon, so the razing ain’t gonna happen. Secondly, I think I’ll save this remark so I can trot it out in a few years, and remind people of their foolishness and short sightedness. This house will be a goner, because it will be gone, sold to someone who knows exactly what they have, and it’s not a tear down. I plan on sitting on their porch with them having a good laugh over your so called prediction. We’ll lift a nice, expensive glass of bubbley your way.
Cheers!
gary cooper-I so hate to disabuse you about affluent people in Crown Heights but they actually do live here. You simply don’t know them.
*sigh* Don’t know why any of us even bother.
Great post as usual NOP. The reality is often a far cry from what the ASSumers think.
This is a real estate blog and too many times we get sidetracked by the economic aspects of things. This is an amazing house. You just can’t build them like that anymore. The house will be sold to somebody who loves it and pays what they think is a fair price.
What, it seems yet again you are out of touch with the combined wisdom of the markets. Are you bigger than the markets, or are they bigger than you? Today:
DJIA: +1.85%
FNM: +22.69%
LEH: + 7.37%
C: +5.3%
AIG: +7.5%
Your shorts must be f*cking you in the ass today, with no lube.
“Whoever is pricing these places is:
a) stupid
b) living under a rock
c) retarded
d) all of the above”
Wow like the posters on this Blog…
Hey Asshats remember I said when the Olympics was over China was going to dump US debt on the market? Well lookie here..
Bank of China flees Fannie-Freddie
http://www.ft.com/cms/s/0/74c5cf58-7535-11dd-ab30-0000779fd18c.html?nclick_check=1
Bank of China has cut its portfolio of securities issued or guaranteed by troubled US mortgage financiers Fannie Mae and Freddie Mac by a quarter since the end of June.
“Sorry, not related, but I had to post this for The What:
“Gross domestic product rose at a 3.3 percent clip in the second quarter, the Commerce Department said, a significant jump over the original estimate of 1.9 percent growth. G.D.P., the broadest measure of the nation’s economic activity, is considered a good barometer of America’s economic health.”
BTW If you believe this shit, step up to the plate and buy this wonderful house. It has all the details and it’s in “move in” condition. Come on you fucking Poser!
The What
Someday this war is gonna end…
Brownstoner, I’m in another time zone and it’s late, EST, so no one will probably read this post, but I wanted to send it along.
Lots of comments on this thread (and others) about the Albany Houses — usually negative.
In the 1950s, when I was growing up in Crown Heights, I had a friend from P.S. 41 who lived there.
I remember going to his birthday party. It was held in one of the project’s community rooms, at night, during the winter. The project’s grounds seemed vast and empty and the buildings very tall and shadowy, giving it all an eery, mystery-movie feeling. (My family lived next to the current historic district, which is lined with apartments and row houses.)
But it was a great party. Lots of kids, balloons, games, and music. The setting was modern-architecture institutional, but my friend’s parents really put themselves out, and I came away having a good time.
There were other friends in other housing projects, including Mitchell-Lama buildings (the more middle-class versions of projects) around Brooklyn, and I always thought their buildings were cool. First there were the elevators. (We lived in a walk-up.) Then there were views from 10 and 15-floors up, sometimes all the way to Manhattan.
When you’re a little kid, you don’t classify people by subsidy and income, only on whether your hosts make you feel at home. My housing-project friends were swell, and their parents always made me feel at home.
Recently, I took a detour through a public-housing project in Manhattan. It reminded me of the Albany Houses, except the trees had grown fifty- and sixty-feet high. Old people sitting on the benches. People coming home from marketing. Teenagers playing a pick up game on the court. There I was, a middle-aged man wearing an Italian silk jacket with a Nikon digital camera in my hand and no one batted an eye.
I suspect most folks living the projects are a lot like the ones I remember. And for those so nervous about property values, there are public housing projects on Park Avenue, one block north of Carnegie Hill, one of the most expensive “family” neighborhoods in the city.
The Crown Heights house shown today is a beauty. Maybe it’s overpriced. But the Albany Houses shouldn’t stop the right buyer.
Nostalgic on Park Avenue
gary_cooper, while I’m not sure about either the house or the hood, affluent people who would buy this house tend to have their money in other things than cash in their wallet. Not that it’s pleasant to get robbed, but the local drug dealers are more likely to have cash in the pocket.
This is an haute bourgeoise home. It costs a fortune to heat, furnish, and maintain. Five or more years ago, the maintenance costs may have been borne by a less affluent family because the purchase price and taxes were a pittance. In other words the savings in the mortgage went into the maintenance. Now that it is an expensive property I don’t see any future for it except conversion to small apartments. A family with moderate income could never afford it, and an affluent family would not want to live in this neighborhood (the rich are very sensitive about keeping their wealth and not being robbed). So it is unlikely that a rich family would live here, and I can’t imagine anyone but a rich family affoding the purchase price and the upkeep. The house is a goner. whoever pays a million for it will need to recover that investemet by chopping it up or by razing it and building a quickie condo. Sad but true.