House of the Day: 362 5th Street
This three-story house at 362 5th Street still has quite a lot of original architectural charm; it’s also got a sparkling new kitchen and some tastefully renovated bathrooms. The asking price of $1,750,000 ain’t cheap given the size of the house but it’s also on the low end of the spectrum of a house in…
This three-story house at 362 5th Street still has quite a lot of original architectural charm; it’s also got a sparkling new kitchen and some tastefully renovated bathrooms. The asking price of $1,750,000 ain’t cheap given the size of the house but it’s also on the low end of the spectrum of a house in move-in condition in the Central Slope, so we could see them getting within 10 percent of this ask. Update: Make that 20 percent…we just realized this is only 15 feet wide.
362 5th Street [Garfield Realty] GMAP P*Shark
11217, speaking from firsthand, current experience, I think PS 39 is excellent. But Miss Muffett is right just in terms of real-estate-pricing practicality: relative merits of the schools aside, 321 still has the “branding” and market perception, which means that houses in the zone still carry a premium. (In the case of a house this size, I’m figuring being across the street would net a $100k – $200 k bump.) Or, as I like to think of it, it makes houses in the PS 39 zone a relative bargain–but I’m biased. Anyway, not interested in arguing schools here, but as a matter of dollars and cents I agree with MM.
Haven’t seen this, but having seen similar houses on the block, I would think this would deserve, if in excellent shape, no more than 366A up the block got.
I hear you Nomi – I simply meant that this listing is a particularly egregious case of photos not matching reality, and that’s not always the case (indeed, sometimes the property looks better in person, or sometimes the photos provide a decent representation).
“Those who think it’s nice should go and see it before commenting!” (MM)
Yes, agreed that we should remember that photos are photos.
But this would be a quiet blog indeed if comments were made only on properties seen.
11217 – re: schools, I would respectfully say you’re not really in a position to judge compared to folks who have done extensive research for their own kids. 39 certainly has its admirers (and I was very impressed by the principal) but 321 remains a powerhouse in terms of resources, teacher talent, probably one of the most respected principals in the system etc etc. 321’s main drawback is the famous crowding, but many other rising schools (and eventually 39 I suspect) will fall to prey to that without some DOE intervention. In any event, the problem with this house is not the school zone but it’s also not a reason to jack up the price to what seems pretty silly given what is actually looks like in person (as opposed to in the misleading photos).
From everything I’m hearing, PS. 39 is as good, if not better than PS. 321 these days.
Didn’t see the OH this weekend. However, like realestate said the same broker sold 366A 5th street down the block this spring for $1.450, and that one was a mid level gut reno.
I can speculate these sellers were impressed by the 366A sale at the time (I was as well) – but if this one is also 2250 sf, this would be asking $777psf. A bit rich for a 15 footer to say the least (and its not “PS321”).
I was very disappointed by this listing when I went to see it – the key to these narrow houses is opening up the parlor floor to have it feel lofty and open (and IMO, ideally kitchen is on parlor). Instead, the parlor floor in this house is warren-like with a weird middle room that looks like renovation interruptus (maybe they were planning a bathroom?), and the garden level kitchen was very tacky looking close-up. I agree with the comments that the photos are extremely misleading. Those who think it’s nice should go and see it before commenting! 15 feet houses are extremely narrow but this one feels even worse due to the poor layout choices. This house is definitely NOT in 321 BTW, and while I like the location, for many it’s not exactly “prime”.
the p.s. 321 thing isn’t a problem, since i think this is zoned for ps 39, which is also supposed to be a great school. and i really like this part of the slope, so no problem there either. but the place definitely feels pokey and small. i also think the price is out of whack with reality.
Yeah, looks lovely without a floor plan (can’t get to the broker’s site right now), but that’s the problem with no floor plans. For me, anyway. I can’t really visualize the way the rooms must layout without a plan.