Open House Picks
Park Slope 475 4th Street Brooklyn Bridge Realty Sunday 12-3 $2,990,000 GMAP P*Shark Crown Heights 859 St. Marks Avenue MMM Management Sunday 12-1:30 $1,500,000 GMAP P*Shark Crown Heights 1265 Dean Street Corcoran Sunday 2-3:30 $1,100,000 GMAP P*Shark Bedford Stuyvesant 471 Decatur Street Location Location Location Sunday 12-2 $895,000 GMAP P*Shark
Park Slope
475 4th Street
Brooklyn Bridge Realty
Sunday 12-3
$2,990,000
GMAP P*Shark
Crown Heights
859 St. Marks Avenue
MMM Management
Sunday 12-1:30
$1,500,000
GMAP P*Shark
Crown Heights
1265 Dean Street
Corcoran
Sunday 2-3:30
$1,100,000
GMAP P*Shark
Bedford Stuyvesant
471 Decatur Street
Location Location Location
Sunday 12-2
$895,000
GMAP P*Shark
Went to the house on Dean. Needs a TON of work. They started the renovation and they did strip all the wood but they have just stopped in the middle for some reason – lack of $, maybe a change of situation? In addition to the necessary renovation the other issue is that there is a lot of traffic including the bus running up New York Avenue. I wouldn’t want to live there.
Anyone who’s been out to see these willing to scroll past the silliness above?
I am curious about the Bed Stuy/Ocean Hill house… it seems overpriced, too far east. Any actual intel here?
9:24: You are an idiot.
You don’t lose equity if you have already put the money down or payments on your mortgage have gone to principal. Your mortgage doesn’t change either. You only have an issue if you try to sell.
It is obvious that you have no concept of how a mortgage works. Keep renting and helping to pay your landlord’s mortgage.
Asshat.
Bitter renter = fuzzy math wiz
I just keep asking myself if the Brownstoner blog really needs hundreds of copies of the same novella?
yikes…what happened?
holy yikes!
NOP, it would be very cool to have you as even a part time visitor to the old nabe, and having your brother own it would be quite an amazing return. The Dean Street house really is great, and I get your point. The facade on St. Marks has been altered, and the curb appeal of Dean St can’t be denied. I confess to a partiality and fascination for that block of St. Marks, however. When I lived in Bed Stuy, I used to go for long walks over here, and I distinctly remember “discovering” this block, and couldn’t believe how magnificent it was, especially after also “discovering” the block on Park Place with the old Methodist Home, as well as the block of Prospect Place between Nostrand and New York, also chock a block with magnificent and stately homes. I never get tired of walking around here, and have collected many more wonderful and interesting blocks tp add to my favorites list.
Your story about the architect, Mr. Wilson, reminds me of perhaps the most well know African American architect, Paul R. Williams, who, as I am sure you know, practiced in Southern California from the 1920’s through the 1950’s. There is a famous story about him where he would never offer to shake hands with his white clients, to avoid any awkward social situations where they would not shake hands with a black man. Hard to believe in this day and age, yet not all that long ago. In spite of the prejudices and bias he often suffered through, his career was amazing, and body of work impressive, his talent was awesome, and his personal story quite inspiring.
I would love to get some more information on our East coast Mr. Wilson from you, and in the meantime, will do some research on my own, as this is important to me, and the community. Thank you so much for that tidbit. Hope you attend the open house!
Montrose Morris
For those thinking about buying at current bubble prices, this missive from one of the economists who actually noticed the bubble early on might be interesting. NYC is running a bit more than a year behind the national leaders in this cycle:
http://www.prospect.org/cs/articles?article=the_meltdown_lowdown_062708
And the Bubble Keeps on Bursting
The new Case-Shiller housing data showed that prices kept plummeting in April. Real house prices in the 20-city index were falling at close to a 26 percent annual rate over the months from January to April. Since their peak in the summer of 2006, real house prices have dropped by more than 23 percent. This means that we’re probably a bit more than halfway to the bottom of the bubble.
Prices in the most rapidly deflating markets are dropping much faster. In the last three months, real house prices in Phoenix, San Francisco and Miami have all fallen at close to a 40 percent annual rate. The implications of this rate of price decline are incredible.
Imagine you had paid off 20 percent of a mid-priced home in the San Francisco area as of January. This would have given you approximately $136,000 in equity on a $680,000 home. Three months later, that home is $597,000 and your equity stake is down to $53,000. In three more months at this rate, you will be underwater. Such are the joys of home ownership in a collapsing bubble.
Of course, it is not gloomy for everyone. Imagine that you are a wise renter who was thinking of buying a mid-priced home in the SF area. You are now $83,000 richer as a result of your decision to wait. That’s not bad — you get almost $28,000 a month for not buying.
i agree with all the wonderful things being said about crown heights and the north slope.
all nice stuff to hear among so many negative posts.