Open House Picks
Clinton Hill 298 Lafayette Avenue Douglas Elliman Sunday 12-2 $1,995,000 GMAP P*Shark Boerum Hill 80 Hoyt Street FSBO Sunday 12:30-3:30 $1,780,000 GMAP P*Shark Park Slope 566 10th Street Brooklyn Properties Sat & Sun, 1-3 $1,499,000 GMAP P*Shark Park Slope 664 Degraw Street Corcoran Sunday 2:30-4 $1,395,000 GMAP P*Shark
Clinton Hill
298 Lafayette Avenue
Douglas Elliman
Sunday 12-2
$1,995,000
GMAP P*Shark
Boerum Hill
80 Hoyt Street
FSBO
Sunday 12:30-3:30
$1,780,000
GMAP P*Shark
Park Slope
566 10th Street
Brooklyn Properties
Sat & Sun, 1-3
$1,499,000
GMAP P*Shark
Park Slope
664 Degraw Street
Corcoran
Sunday 2:30-4
$1,395,000
GMAP P*Shark
5:16 I actually think it would be a close call… but maybe only assuming a number of ideal conditions. Consider the 10th St. house. Say seller lets it go for a more-realistic $1.35 million. Say buy puts $250k down and finances $1.1 million.
Monthly payments on a $1.1M mortgage at 6.5% are about $7k. Say taxes + upkeep add $1k/month to that. So your costs are $8k/month.
Say you can rent out the top floors for $2,250/month each; now you’re in the hole for $3,500/month. After-tax pay on a $150k salary is at least $6K/month, which meants you’ve got $2,500 left over every month for food and drink and savings. That’s a LOT more than what I survive on now.
So theoretically, the 10th St. house is doable on a $150k salary… and hopefully, your earnings and the rents will only increase over time. So, while the garden apartment is plenty big right now for a single person, you’ll be able to slowly take over and renovate more and more of the house over time.
Of course, would any bank go along with this plan in the current climate? Probably not. Just saying it’s feasible, and a possible alternative to the trade-up-apartments-every-five-years game.
Dave, isn’t it great how in one thread we get everyone all riled up to the point they say we ruined the topic and we are horrible people and then on another thread, like this one, everyone is suddenly saying things like “you took the bait”, “50-70% of the comments on brownstoner are people looking for a reaction from people. they seem to do an excellent job at it. you are the most gullible bunch of people on the internets” and “I think you two need to stay clear of the internet. It was not meant to be taken so seriously.”?
the 29 year old, 150K a year arts person just got another 50 posts on this thread. i’d say he/she is pretty smart.
and great for this blog.
What they can’t fathom Biff is that someone may have actually saved up a downpayment of more than $5,000.
“230k is the exact number that analysts are paid at securities firms”
All analysts at all securities firms?
“they are hiring 2,400 this year”
exactly 2,400 this year?
Im the fucken easter bunny cause i said I am, wanna egg?
Biff:
It was not meant to be bait at all. I guess I said 300K because it seems that the way people talk about them here, that million dollar brownstones are first homes for everyone.
No one would dare start out in a studio and work their way up.
I MUST HAVE MY BROWNSTONE AT 25!
😉
and then there’s the totally nonsensical posts!!! problem is they never know who they are!!!!
“Anyone buying ANY of the properties on the open house picks make above 300K a year or above.”
5:19, there are definitely people who can afford these homes on much less than $300K a year. In fact, they could even on $150K per year, despite what 5:16 also said. What about individuals who were already in the market and are trading up or older folks with years of saving/investing behind them (not to mention trust fund babies, those with help from their family, etc., but I’m sure you weren’t talking about them)? Just saying I wouldn’t generalize and say it’s impossible for anyone making under 300K.
Apologies in advance if I “took the bait” and you were just “looking for a reaction from people”
KDABROWSKI and SDRUBBINS:
Brownstoner is not real life. Brownstoner is a blog. Many people on blogs these days (not just this one) say absurd things….partially because it increases traffic and make said blog more more, partially because, as someone said…it’s fun to see how gullible people are and well…because it’s fun.
If you two have decided that Brooklyn is SO MUCH worse than it was 10 years ago because of what anonymous guest posters on a blog have said in the comments section, then I think you two need to stay clear of the internet. It was not meant to be taken so seriously.
You need to form opinions of your own that are based in reality. Not the fiction that is oftentimes posted here. This is not a news website. This is a for fun website, which talks about insanely expensive 100 year old homes in small section of the largest and craziest city in the United States.
Please wake up.