House of the Day: 667 5th Avenue
This isn’t really a house, we guess, but there ain’t a whole lot of new properties on the market yet this new year, so we’re working with what we got. This three-story brick building at 667 5th Avenue in Park Slope Greenwood Heights consists of a 1,000-square-foot retail space topped by two market-rate, floor-through rentals….
This isn’t really a house, we guess, but there ain’t a whole lot of new properties on the market yet this new year, so we’re working with what we got. This three-story brick building at 667 5th Avenue in Park Slope Greenwood Heights consists of a 1,000-square-foot retail space topped by two market-rate, floor-through rentals. The property, which traded for $879,000 in 2006, will be delivered vacant. The asking price is $1,195,000. Anyone care to hazard guesses for what kind of rent the property could generate so we can do the math on the asking price?
667 5th Avenue [Century 21] GMAP P*Shark
So do you think they priced it kind of high because of the linoleum?
Oops, I meant in the “something Sold” thread. Here’s Shillstoner’s comment about location:
I think a big change is that in the boom people were comparing up and now they are comparing laterally and down. People used to say “this house in [a fringe area] is 1.5M, but it would be 3M in Park Slope!” Which was a stupid and pointless comparision. Now they are saying “This is nice house but for the same money I could get a decent apartment in the slope or the same house for even less in [wherever].”
Yeee-ha, to paraphrase another poster on the HOTD thread, you could buy a place JUST LIKE this for only $420,000 to $520,000 in Bushwick. Literally. Same layouts, finishing, fabulous linoleum in the living room. In fact, I can give you the address of one. I’d say it’d be a much better deal. (Oh I mean without the commercial space, though there are plenty of those for sale, too — even more in fact.)
I love your idea CW.
In looking at that picture, we seem to be envisioning very similar things.
Have you and your wife checked out Weather Up on Vanderbilt yet? They make terrific classic cocktails, although they are a tad pricey.
I really like your idea for the name, and think if you had a good wine list, that would be very attractive to people in the immediate area also.
Something not unlike Beer Table much farther down 7th avenue, just with more of a cocktail/wine theme and a different vibe on the decor, but a nice neighborhood place that feels warm. It’s the people who open these places who oftentimes have more of an affect on whether the place survives in my opinion. You can just feel how nice the folks who run Beer Table are by walking in, and then talking to them just seals the deal.
BTW, you know Ozzie’s is an old pharmacy too, right? They still have a lot of the original fixtures in there still…
Nothing at all against Tea Lounge (as I said, I’ve never tried it) I’m just a regular at Ozzie’s and like to frequent them whenever possible.
11217 – I’d like to open a bar named “RX” that’s themed after late-19th-century to 1920’s-era pharmacies. Something that’d look like this, only less cluttered: http://www.lib.montana.edu/digital/objects/coll1507/81-2.jpg
Not a gimmicky tourist place, but a somewhat higher-end bar with lots of specialty cocktails, a small but good wine list, and maybe a couple craft beers.
I’m super into mixology, so my main focus is on having a cool cocktail list with lots of vintage and vintage-inspired drinks. My wife likes the idea of working with a chef to create a complementing list of small plates.
It’s on our “whenever the hell we get rich” list. 🙂
re: Tea Lounge – I tend to visit them instead of Ozzie’s because they’re slightly closer and I find their coffee slightly stronger. You see all types of people in there, from hipsters to stroller moms to the vast swathes of regular ol’ people who mostly make up Park Slope.
… I’m totally off topic in this thread. Sorry folks!
I ditto Greenwood’s statement that we could use more than Eagle for food. I personally only use them for beer, water and cleaning supplies because I get too lazy in a pinch. (Yes, you can be in a beer pinch!) Their prices are high and they often have expired items on the shelf (I suppose that’s no different than other non-chain grocery stores, and some chain stores as well?) I usually take the bus out to Fairway and, if I have patience/ativan, the Atlantic Mall Pathmark. And yes, there are kids here – it just seem they are fewer in number than PS. In the summer time I walk up and down these street every night taking in the ‘ambiance’ as it were. It’s enjoyable. The older home, mix of people and the sunset are a perfect backdrop to an evening walk.
Bolder – Your line of thinking is in the correct direction. In time, I am sure that the area will improve and lots of buisnesses will find the area attractive.
Its also correct of you to state that if you own the building clear and free you will be able to experiment with the commercial space without worrying about the biggest overhead expense.
………This kind of thinking will get you far my boy. Just make sure to follow through!
I also noticed that the spaces next to Ace Supermarket now have For Lease signs up…
They’ve just sat there abandoned ever since I moved here.
I’m picturing tin ceiling, whitewashed brick, big chunky masculine wood bar, delicious drinks…
And maybe a gay night.
😉
CW:
If I had the money, I would open a bar on 7th Avenue. I’ve often wondered the same thing, in fact. There’s a tiny little sliver of a storefront next to the Ideal Real estate office (formerly Diane Kane) which I have already envisioned as a small little narrow bar.
My neighbors and I often talk about how we wish there was a bar in our immediate vicinity.
I think the KEY is the space. I think for it to work, it needs to be a REALLY great space…something special, something noteworthy, or something really clean like the James restaurant highlighted today.
No fuss type of place.
What do you envision…?
ps. I’ve actually never set foot in the Tea Lounge. It doesn’t appeal to me for some reason.