House of the Day: 141 Quincy Street
This 1890 house at 141 Quincy Street in Bedford Stuyvesant is a charmer, to be sure. In fact, the renovated kitchen is the only real downer about the two-family (configured as one) house. The porch, plaster moldings, pier mirrors, etc. are all very impressive. As the listing takes pains to point out, the house is…
This 1890 house at 141 Quincy Street in Bedford Stuyvesant is a charmer, to be sure. In fact, the renovated kitchen is the only real downer about the two-family (configured as one) house. The porch, plaster moldings, pier mirrors, etc. are all very impressive. As the listing takes pains to point out, the house is also pretty close (a block and a half, actually) to the Clinton Hill border. Given all this, and the fact that you could move right in, the asking price of $795,000 seems pretty reasonable to us. We bet it goes for within 5 percent of that number.
141 Quincy Street [Douglas Elliman] GMAP P*Shark
There are 3 more photos–click under the thumbnails where it says page 1.
“Why is median better than average. It doesn’t paint a true picture, ESPECIALLY with an arguement like this where we are trying to ascertain what % of the population may be able to afford something.
Posted by: daveinbedstuy at August 24, 2009 4:51 PM”
Median is better than average where the extremes can unduly distort the result.
If one extremely wealthy person moves to NYC (say, Bill Gates), it’s enough to move up the average income by a significant amount but median will only go up by a small fraction.
Similarly, with house transaction prices, a sale of a trophy house will skew the average price but not so much the median.
Keep in mind you can always bid 10 or 15 percent off. It might really be $700,000 or so. With the average house around here probably going for $600,000 or so, that sounds about right.
The only thing about this house that might be a stretch for the typical buyer is there is no rental to offset the mortgage. That’s one of the reasons it’s in such pristine condition.
“bklplebe – I’ve read most of your comments here and appreciate your insights. You seem to be spot-on with your views. Something we may learn from and I’ll certainly consider.”
This is your only comment on brownstoner!
LOL.
Good one, bklplebe.
Yes, Maly, the whole country thinks NYC is ridiculous. But not Tokyo, Hong Kong, London and a few other places!!!!! people actually live quite well and quite cheap in NYC vs. those places!!!!
Do you understand that people who buy houses are at the 95th percentile of their hoods? NYC houses have never been affordable to half the population. I think insulting posters’ supposed lack of education is a bit rich ( pun intended) when you refuse to acknowledge that your measure of affordability is deeply. Median schmedian.
argument
Why is median better than average. It doesn’t paint a true picture, ESPECIALLY with an arguement like this where we are trying to ascertain what % of the population may be able to afford something.
College should be mandatory
1000K, 198K, 110K, 110K, 110K, 20K, 5K, 2K
median: 110K
1000K, 198K, 110K, 110K, 110K
median: 110K