House of the Day: 176 Bainbridge Street
This three-story brownstone at 176 Bainbridge Street in Bed Stuy just hit the market with an asking price of $695,000. While the ultimate selling price may end up barely having a “6” at the front of it, the current ask is probably too high given the size (2,700 square feet) and the condition—while the whitewashed…
This three-story brownstone at 176 Bainbridge Street in Bed Stuy just hit the market with an asking price of $695,000. While the ultimate selling price may end up barely having a “6” at the front of it, the current ask is probably too high given the size (2,700 square feet) and the condition—while the whitewashed walls and sanded floors sit fine with us, the Home Depot light fixtures and tacky door knobs make us fear the worst about the unphotographed bathrooms and kitchens. What do you think? If this were $100,000 cheaper would it be a buy?
176 Bainbridge Street [Douglas Elliman] GMAP P*Shark
shillstoner: prices in Maplewood as well as other NJ and NY suburbs have reached 2003 levels. Prices in several places is 50% off peak. In fact, this is what makes suburbs a much better value. Check out the blog njrereport.com that documents the above.
I am not arguing that it is better to live in Maplewood or any other NJ town than Brooklyn. I am just saying that right now for the same amount of money you will be able to buy a higher quality of life in a suburb than in brooklyn.
I get offended and try to ape someone else’s style when they call me out on my ignorance.
I forget that NJ is less cultured than NYC so if NYC is a cultural desert I am living on the cultural equivalent of the moon.
I must not know this area if I think it is unsafe. I am just afraid of black people but I can’t admit that because eveyone will know I am a racist.
I stll can’t afford a brownstone, even in the least expensive brownstone neighborhood in Brooklyn. What does that say about my financial acumen over the past several decades?
Obviously daveinbedstuy=ghettoazzpnkbtch
How come a “cultured” BS resident can’t understand that not all NJ towns are the same just like in NY?
Why should we follow the obsolete views of a schizophrenic on brooklyn RE as well as his views on NJ (again obsolete).
This discussion is not about NJ. Little do I care whether you like NJ or not. I AM JUST SAYING THAT FAMILIES SHOULD LOOK ELSEWHERE FOR BETTER VALUE.
“Also, what happened in the last 10 years of real estate in Brooklyn was a correction to the incredible downward price pressure during the white flight and Bronx is Burning years.”
There is some truth to that, but keep in mind that prices in Maplewood and other burbs doubled and even tripled in the last 10 years, too. The market there has now “corrected” and prices are back to 2004 or 2005 levels–which is exactly what is happening here now.
And why can’t people just accept that different people like differnet places? I know plenty of people who have left Brooklyn for the burbs (not NJ) in the last 5 years and are very happy there. It happens.
I don’t know anything about NJ, esp Maplewood. That won’t stop me from believing that the home of the real housewives of NY is better than those from NJ.
I am a racist and a snob who believes BS is more cultured than all of NJ including Maplewood, SO, and Montclair without realizing that brooklyn only reflects the cultural desert that NYC has become lately.
I also believe that there enough suckers who will hand me $600K to be landlords and residents of 2br in a neighborhood with subpar public schools and safety.
I don’t know what the rental income of this house is. My only point of reference is Prospect Park. If a house isn’t in Park Slope, I don’t know anything about it.
I should get out more but that would require me to turn off Fox News and experience the city I actually live in.
Perhaps O’Reilly can save me from my narrow-minded existence.
It’s less than 40 minutes to Columbus circle on the A train. Maplewood, best stick to NJ statistics. Enjoy your ever rising property taxes. At least NYS isn’t bankrupt.
I don’t know anything about Brooklyn, especially Stuyvesant Heights. That won’t stop me from opining on the priice of real estate in the area.
I am a racist and a snob who believes the home of the real housewives of NJ actually has “higher educational level residents” than this area.
I don’t know that lil Kim never lived in Stuyvesant Heights but my grandkids told me about her so I think I am up on hip hop and will throw her name into the mix.
To get to Columbus Circle I have to take NJ Transit AND the subway, so I live in a two-fare zone. Somehow, that beats one train/fare from my house to work every day.
I can’t afford Stuyvesant Heights which means that house in NJ I have been paying a mortgage on still can’t get me a decent downpayment on this house. So I invested poorly in the real estate market and now I will tell you all where real estate in NYC is going in the next few years.
Maplewood,
Most of the folks on this blog don’t get what’s happening to real estate prices locally, not to mention nationwide.
Despite current reality, they still think their houses are somehow worth “millions” even though potential rental income wouldn’t cover half of their mortgage payments.
In a few years, when prices are half what they are today, folks on this site will still be making excuses about how this block is so valuable because of a donut shop or a sushi bar or whatever. . . .
Maybe Obama will fix things.