Whisper, Whisper: Decatur Is For Lovers (Not Haters)
When we wrote about 100 Decatur Street last week, we said it would be something of an indicator for the Bedford Stuyvesant market as a whole. If there was any truth to that statement (and, hey, we could have just been full of it) then The Stuy is doing just fine thank you very much….
When we wrote about 100 Decatur Street last week, we said it would be something of an indicator for the Bedford Stuyvesant market as a whole. If there was any truth to that statement (and, hey, we could have just been full of it) then The Stuy is doing just fine thank you very much. According to a tip we got yesterday, the house has received multiple bids, two of them over the asking price of $899,000. Not too shabby (just like those sweet interiors). Word is, though, that the broker’s considering holding one more open house to see if she can do even better.
UPDATE: Looks like our earlier tip about the number of people at the open house fell short. It was, in fact, 167 detail-hungry gawkers. There were six offers. The broker has decided not to hold another open house and has asked for best offers by Friday at 5 p.m.
100 Decatur Street [Corcoran] GMAP P*Shark
HOTD: 100 Decatur Street [Brownstoner]
@ anon 5:49
People expect the houses in Stuy Heights proper to go for those prices. Not too many people blink when a house around Stuyvesant and Lewis is sold around those prices. I think some of the amazement (for lack of a better word) is that this price range is now being extended beyond the “pristine” district.
Not just Bedford Stuyvesant but many Brooklyn neighborhoods are getting the attention it deserves. For that matter Brooklyn in general is. It seems like many people sound off because they are frustrated and are praying for economic downfall. The truth is the market has been cooling off and for necessary reasons to meet the current income of most potential new buyers. That being said, the economy (job rate) has not exactly toppled and unlike the late recession of the early “90’s” the foreclosure rate will not motivate sharp downturn in prices, nor will interest rates hike anytime soon. The conclusion here is that this is a great time for blog warriors to excite the present condition but they are actually helping the market move to its correction faster. When the yards come to Brooklyn and are no longer “planned” or “protested” the market value is going to zoom here and frankly all this back and forth will be just that forgotten scripts of useless comments. A good home is for those who can afford it Decatur is such an example. Sorry for bursting your “hysteria” bubble. But as you all know on this site bubbles do burst.
:)— My townhouse is worth 1/2 dozen times more than when I bought it.
Folks, lets show some civility here. This is neither the time to gloat about rising property values in Bedford-Stuyvesant or bitch and moan about being priced out of some of brownstone Brooklyn’s most coveted neighborhoods. Let the market speak for itself.
Bedford-Stuyvesant is an extraordinary community; rich in culture, history and architecture. However, parts of the neighborhood (e.g., north and closer to Williamsburg and Bushwick) are also plagued with some serious social issues that are slowly being addressed by the city and community. The neighborhood is not quite there yet but it’s getting there. With that being said, in ten years, Bedford-Stuyvesant will look very similar to Fort Greene, Clinton Hill and Prospect Heights. Buyers are simply making a forward looking “bet” and I believe that time will prove them to be correct. I just don’t want prices going up too high too quickly because it ultimately prices out of the market many of those families who are most receptive to living in a fringe nabe and willing to “wait” things out a bit as the neighborhood improves and attracts more amenities and a better mix of goods and services.
In a community that has the largest number of Brownstones (close to 6,000) in the United States, I’d rather see 2,000 brownstones sell for under $750k then 100 over a $1M mark. I think turnover is good and change is good. It’s more about class then race in that I find mixed income communities to have the “proper” mix; rather then separating, it brings people together – it humbles those who have and inspire those who don’t. The great thing about Bedford-Stuyvesant is, and will continue to be, its diversity. Some black middle and upper-middle class families have deep roots in the neighborhood and will continue to maintain a solid presence and more and more affluent blacks on Wall Street and such are increasingly viewing the neighborhood as an attractive place to raise their families – for some, the suburbs were a rude awakening.
Both the Decatur and Hancock properties are very nice but I don’t understand why people are doing back flips. These sale prices are not high water marks for the neighborhood. There have been a slew of properties in the area that have sold north of $1M. Currently, there are two magnificent limestone Mansions on Stuyvesant Avenue (offered by Halstead and L. Nelson) that are priced at $2M and $1.6M. Both will surely sell and set neighborhood highs. I’m happy to see that the neighborhood is finally getting the attention it certainly deserves.
“Seriously, just a year or two ago it was DO OR DIE, BED STUY!”
And now it’s too late for your broke ass to buy!
” Seriously, just a year or two ago it was DO OR DIE, BED STUY! ”
That was a yr or two ago is right . Now it’s Bed Stuy buy, buy ,buy
What’s the point of living in Brooklyn and not living within short walking distance of Prospect Park?
Why would you want to actually live in a neighborhood with so few nice stores and restaurants and not even feel safe enough to let the kids bike outside alone?
I’d much rather live in a small, cute apartment, in a happening, fun area, than in an “up and coming” place like Bed Stuy.
Seriously, just a year or two ago it was DO OR DIE, BED STUY!
hahaha all you bed-stuy naysayers. this house is a beauty and you losers looking in “pristine” neighborhoods, well good luck when you hit the lotto!!
I agree with bob99, the wood in the house is beautiful but the layout is strange. The kitchen contained a large granite counter/table. Moving the kitchen to the palor floor would be nice but ripping out the ground floor kitchen would hard and expensive( the cabinets were really nice). If you intent to use the house as a one-family , the layout is great, convert the bedroom on the groud floor into the dining room and keep the two top floors as the bedrooms and den. Compared to 371 Hancock , this place is bigger, the block is better and the palor floor has better details , however, overall the interior of Hancock was better with updated bathrooms , orginal hardware, and the woodwork at Hancock had a nicer look. Howvever, 100 Decatur is a beauty but it requires some polishing.
Bob999, install a dumbwaiter.