Open House Picks
Park Slope 108 Lincoln Place Brown Harris Stevens Sunday, 11-1 $2,595,000 GMAP P*Shark Clinton Hill 73 St. James Place Imani Q’ryn Realty Sunday, 1:30-2:30 $1,895,000 GMAP P*Shark Midwood 1904 Foster Avenue Douglas Elliman Sunday, 11-12:30 $919,000 GMAP P*Shark Kensington 118 Clara Street Fillmore Sunday, 1-3 $679,000 GMAP P*Shark
Park Slope
108 Lincoln Place
Brown Harris Stevens
Sunday, 11-1
$2,595,000
GMAP P*Shark
Clinton Hill
73 St. James Place
Imani Q’ryn Realty
Sunday, 1:30-2:30
$1,895,000
GMAP P*Shark
Midwood
1904 Foster Avenue
Douglas Elliman
Sunday, 11-12:30
$919,000
GMAP P*Shark
Kensington
118 Clara Street
Fillmore
Sunday, 1-3
$679,000
GMAP P*Shark
“It is amazing to me how most commenters on this blog are detached from reality when it comes to the lifestyles of those whose income bracket exceed their own.” (BH)
Yes. Don’t know if tradmod is particularly so or not, but I very much agree that many are and it’s irritating as heck.
Sorry for the rant; neglected to mention the truly salient point about why people buy multi-family homes.
Conventional mortgage limits.
Jumbos and Super Jumbos are tough to come by these days. This year the local limit was lowered from 729,750 to 625,500, e.g,. 2-bedroom land.
2-family it jumps to 800K, 3-family is 967,950, and the 4-family limit for conventional mortgages in our region is 1,202,925. Obviously, that opens up a lot of possibilities for families in search of a larger home.
By traditionalmod on April 30, 2011 3:44 PM
The Park Slope property is an apartment building for an investor to buy but not live in. I don’t think somebody esp those with young children spends $2.6mm to live in a duplex with 3 apts above them, 2 of those apt’s directly over the duplex’s only bedrooms.
…
ORLY.
We have friends who sold their co-op on the UWS to buy a 5-family in Carroll Gardens. Duplex plus 2 apts on each of the two floors above them. Think it was around 1.6-17ish.
We have other friends who sold their Midwood house to buy a 4-family in Brooklyn Heights. Garden Duplex, and three floor throughs above. 2.7ish.
Both couples have elementary or preschool age kids (2 and 3, respectively).
Where do these assumptions come from? Oh, if somebody can afford something I can’t, then they don’t need $400K-1.2M of their mortgage covered by rental income. Because they have more than me, they must be rich…and rich means infinite resources, unlike the finite the rest of us deal with.
A lot of folks buy multi-family housing, and convert/expand over time (the intention of our friends). Or move out upon retirement, and supplement their income when they move to their retirement community (aunt and uncle did this). I’m sure there are any number of reasons.
It is amazing to me how most commenters on this blog arle detached from reality when it comes to the lifestyles of those whose income bracket exceed their own. Clueless.
The Park Slope property is an apartment building for an investor to buy but not live in. I don’t think somebody esp those with young children spends $2.6mm to live in a duplex with 3 apts above them, 2 of those apt’s directly over the duplex’s only bedrooms.
1904 Foster Avenue is neither in Midwood nor Ditmas Park. It is in Midwood Park, the northern half of the Fiske Terrace/Midwood Park Historic District.
1904 Foster Avenue is neither in Midwood nor Ditmas Park. It is in Midwood Park, the northern half of the Fiske Terrace/Midwood Park Historic District.
brown harris website sucks. brownstoner marketplace sucks.
The St James Pl listing is sooo unprofessional. I agree with Donatella. Some nice original detail but who knows what lurks in the kitchen, bathrooms, windows, roof, mechanicals etc etc. I’m guessing it needs a major overall and that it’ll go for more like $1.35m.
>> The listing for the Kensigton house is pretty funny. Zero effort is really giving it too much credit…
I’ve had quite enough of your Fillmore bashing, catboot!