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
Two thirds of New Yorkers rent. And 80% of homeowners own apartments. It’s a small minority of people who buy houses. That’s why median income doesn’t work as measure of affordability in NYC.
I have to admit I clicked on the link and looked at Jerry’s ad. Yes, it looks okay from the photos but there really ARE too few. Honestly. I guess it needs work or updating and they want to get people to schedule an appt to see the house…and once in the door, Jerry and company can handle it.
One thing that struck me: “Seconds to all the restaurants, shops and hype of Fort Greene and Clinton Hill yet located on a manicured and truly original historic block. Excellent neighbors.”
Now, isn’t that quote from the ad a bit ridiculous?
“It IS NOT the population as a whole that can afford it but only those making above a certain amount. All others rent, or buy things in the $200-300,000 price range.”
Of course it is not the population as a whole. What we established is that the MEDIAN MANHATTAN couple cannot afford it. The are millions earning below that.
well I assume fraternizing with the neighborhood riff-raff must be a selling point because this riff-raff is what makes this neighborhood special. Muffy and chandler will still need a nanny though 🙂
I think 11217 is right about the market for this house. It IS NOT the population as a whole that can afford it but only those making above a certain amount. All others rent, or buy things in the $200-300,000 price range.
don’t forget private school! don’t want muffy and chandler fraternizing with the riff-raff of the neighborhood.
*rob*
“Mean houshold income $121,549 ”
that’s what I said. a couple from Manhattan with household income 120K cannot afford currently the far from subway bed stuy townhouse.
Now if the price falls to 500K the couple from manhattan might afford it if they are not threatened with unemployment. Of course when they have a kid they will still not afford it because the need to pay daycare/nanny as they both have to work.
hey wiggy, youre also only quoting MANHATTAN figures
*rob*
quote:
“Since 2000, the number of children under age 5 living in Manhattan grew by more than 32%.[37] The increase is driven mostly by affluent white families with median household incomes over $300,000.”
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*rob*