House of the Day: Price Cut in Boerum Hill
Weak showing in the pictures department by Corcoran, so we were wondering what the catch is given 482 Warren Street’s fairly low asking price of $1.375 million. A little over $400 a foot for what appears to be a charming–probably mid-19th century–brick house does seem cheap, right, especially given the fact that the house can…
Weak showing in the pictures department by Corcoran, so we were wondering what the catch is given 482 Warren Street’s fairly low asking price of $1.375 million. A little over $400 a foot for what appears to be a charming–probably mid-19th century–brick house does seem cheap, right, especially given the fact that the house can be delivered vacant. So we went back and checked our archives and saw that we had this listed as an Open House Pick back in June when Brooklyn Landmark Real Estate had this on the market for $1.5 million. At that time, one reader noted that the Property Shark had the house’s taxes listed at more than $8,000. If that’s the case, that’s a fairly glaring ommission on the part of the broker–one that’s likely to end up wasting a lot of people a lot of time.
482 Warren Street [Corcoran] GMAP
It still feels like you are trapped on your block. I viewed a house on this block and I felt very uncomfortable. I ended up purchasing very close to the Farragut housing and yet it doesn’t feel quite as ominous as that block.
This is a really cute block banded on either side by projects. These projects are among the the better ones in Bklyn, however they are still projects with all of the sins associated with projects. It is the reason for the price and it’s time on the market. The neighbors do look out for each other on this block, they have to.
I know there were at least 4 murders there in the past year or so. Recently, an 8 months pregnant woman was shot and killed as she sat outside of the projects. Baby died too.
No they are not 2 of the roughest in Brooklyn.
are the projects really some of the roughest in Brooklyn – just asking as I live only two blocks away (Gowanus Houses)
condos are also eligible for STAR.
this house is between two sets of PJs, and unfortunately some of the roughests ones in BKLYN
There are two kinds of tax-reduction programs offered by the city…the STAR exemption which is available to everyone, and the SCHE exemption which is offered to senior citizens only and there is a means test for SCHE. My parents had a STAR exemption, and I learned about SCHE accidentally while clicking away on nyc.gov. I didn’t even know the program existed, but I applied on their behalf and they got a significant reduction in their property taxes…welcome relief for those living on Social Security. The $6K to $600 reduction sounds a bit odd..that’s a huge difference and it can’t be merely a STAR exemption. Ben is right, the amount is only $200-300 depending on the house, and if you check out Propertyshark and notice the tax exemption entry, it’s about the same for all homeowners.
No offense to anyone, but to think that in this market of millon dollar-plus homes, taxes of $8,000 are considered high is ridiculous. Perhaps, during rougher periods tax abatements were needed to encourage ownership in certain areas, but how can they be justified now? $8,000 on 1,375,000 is less than 6/10ths of a percent (.58) – that’s seems pretty reasonable to me. Anybody paying a few hundred for a house worth a million or more is effectively not paying real esate tax.
It’s on the wrong side of the projects. For the location the price seems more than a little high.