Open House Picks: Townhouses
Brooklyn Heights 300 Hicks Street Brooklyn Heights RE Sunday 1:30-4 $2,500,000 GMAP P*Shark Park Slope 365 2nd Street Brooklyn Properties Sunday 1-3 $1,699,000 GMAP P*Shark Ditmas Park 751 East 19th Street FSBO Fri 5-8, Sat 5-8 $1,495,000 GMAP P*Shark Fort Greene 39 Vanderbilt Avenue Brooklyn Cornerstone Sunday 12-2 $999,,000 GMAP P*Shark Bedford Stuyvesant 286 Van…
Brooklyn Heights
300 Hicks Street
Brooklyn Heights RE
Sunday 1:30-4
$2,500,000
GMAP P*Shark
Park Slope
365 2nd Street
Brooklyn Properties
Sunday 1-3
$1,699,000
GMAP P*Shark
Ditmas Park
751 East 19th Street
FSBO
Fri 5-8, Sat 5-8
$1,495,000
GMAP P*Shark
Fort Greene
39 Vanderbilt Avenue
Brooklyn Cornerstone
Sunday 12-2
$999,,000
GMAP P*Shark
Bedford Stuyvesant
286 Van Buren Street
Corcoran
Sunday 2:30-4:30
$699,000 $639,000
GMAP P*Shark Archive!
Check back in tomorrow morning for Open House Picks: Apartments
You people who doubt the coming impact of wall street bonuses obviously work far from the street. Bonuses will be up BIG this year. The brownstone market is going to go be out of control
I’ve lived in a rental, a condo + a house. It is not comparable. Living in a house is just better. How many rentals have a separate dining room, extra bedroom for guests, backyard, fire place, storage palce etc. What’s the value of not having your house guests sleep on an air mattress.
By the way, what is the rental on a 30th floor 2-3 bedroom condo these days?
To poster anon 11:02, that 30th floor high rise usually comes with a maintenance of $1000K a month, which is about waht I pay monthly for heat, insurance, taxes + maintenance on my house, so I don’t so the beneift there. Taxes are usually much higher on condo (vs. houses) too.
Re the AMT, mortgage interest is one of the only deductions that is allowed under the AMT (unlike state and local taxes). I think the maximum deduction under the AMT last year was $58K. Assuming 6.5% motgage rate, you keep the deduction for up to about 900K of mortage. When you’re a renter you get zero shelter. There are arguments to be made in favor of renting, but the tax code is not one of them.
You “buy, buy, buy” folks are forgetting the high cost and aggravation of owning a 100 year old townhouse.
There’s so much daily street will all have to deal with just living in NYC, wouldn’t you rather go home to a full service doorman condo and get pampered then have to fix a leak, wait for the emergency plumber, or set mice traps in the basement at one in the morning?
Not to mention, skyrocketing property taxes, property insurance rates, maintenance costs, and utility bills. It’s not easy to be a landlord — even your own. I’ve been one for years and I can’t wait to get a luxury condo, come home after a long days work, have a cold beer, and gaze out at an incredible New York City view from the 30th floor of a new highrise.
Screw becoming a slave to an old house!
Good points. True, one should not buy a house as an investment; i.e. they should expect appreciation. However, some appreciation is highly likely, esp over the long term. There is never appreciation on your rental payments.
Most homeowners are not subject to AMT. Most homeowners enjoy the tax benefits of home ownership.
Lets not forget the primary reason people own their own home – it is a primary goal and mark of acheivement for most. Much like owning a sports car or having a white wedding, most people “dream” of a certain life that involves owning a home.
I dont think anyone would disagree the past few years have been crazy and the market is now correcting…but I think the people that are expecting real estate to stay down to flat for the next 20 years are insane.
History shows us there are ups and downs in the r.e. market. If you are living in your investment, bought something you can afford and a hurricane doesnt carry it into the Hudson, I think you won’t be sorry come next cycle.
Yes, AMT sucks but in terms of capital appreciation, the tax man does give a nice braek on that when you do cash out. Not too many other tax loopholes 500K large.
Good point the Alternative Minumum Tax (AMT). A lot of people, including brokers run around touting the great tax savings to be had from owning a house. Guess what, what your adjusted gross income is over a few hundred thousand(most bankers) you get zero benefit from most tax deductions. The way I see it there is only one real benefit to owning a home. It is yours (sort of) so you have the pride of ownership and you do not have to worry about a landlord decide to sell the house from under you and your a make it your own. Sure people sometimes get the appreciation from home, but unless you plan to sell your house and live on the streets or move to some remote location most people usually re-invest the proceeds anyway. Anyone that buys a “owner occupied” property for investment purposes is a FOOL, plain and simple.
I didn’t like that place on Washington Ave, even though it was reasonably priced. If I had the money, I would buy 314 Carlton.