House of the Day: 242 Gates Avenue
Well, that didn’t take long. A narrow house at 22 Arlington set a new record for a Bed Stuy townhouse when it sold for $2,250,000 earlier this month, and four days later a listing went up for another narrow house that is also renovated and with details asking $2,650,000. (Incidentally, it’s a few doors down from the…
Well, that didn’t take long. A narrow house at 22 Arlington set a new record for a Bed Stuy townhouse when it sold for $2,250,000 earlier this month, and four days later a listing went up for another narrow house that is also renovated and with details asking $2,650,000. (Incidentally, it’s a few doors down from the previous record holder, 254 Gates Avenue.)
Renovated over seven years by the owner, according to the listing, the house has a kind of brownstone meets factory in the woods vibe. You might even call it steampunk. There’s some exposed brick, an open plan in the kitchen and living areas, lots of reclaimed wood and subway tile, marble counters in a kitchen, light fixtures that might be made from old plumbing parts, and the original Neo-Grec style marble mantels.
There’s also an outdoor shower and a sunroom in the back with exposed beams and walls of what looks like faux bois siding. It’s set up as a triplex over a duplex and is 16.67 feet wide, according to PropertyShark.
The listing puts the square footage at 4,200, while PropertyShark says it’s only 2,912. Either way, the price is pushing into Park Slope territory. Do you think it’s worth it?
242 Gates Avenue [Corcoran] GMAP
I absolutely love this house interior, I love that it is not cookie cutter and set up with all high end appliances and yet it is eclectic and tasteful at the same time. I can’t comment on price though.
This property is borderline Clinton Hill, just like property next door that was quoted as record breaking for B-Stuy. Property next door is much bigger though 🙂
Borders are always gonna be tricky zone as they are always pushed against
Why someone would drop 2.6 on this versus either 118 rutland or 66 midwood in lefferts gardens is a little baffling to me. I get you can’t rent out any part of the house in lefferts unless it’s the entire house but I imagine at this price point that the rental income is not going to make or break the buyer.
The cost of real estate in NYC is puzzling all around but if you think about it, pricing in Bed Stuy is not really that far off. These larger, record breaking homes are on the Clinton Hill border so can’t quite compare them to homes deeper in Bed Stuy and comparable homes in Park Slope proper (not South Slope) or Fort Greene are closer to the $3-3.5 range.
I do think that some sellers in Bed Stuy are fishing and some prices seem slightly ahead of their time considering the lack of amenities you mention, but part of what’s causing that is the fact that it’s one of the last “affordable” parts of Brooklyn with beautiful brownstones and a close proximity to NY. Prospect Lefferts Gardens is showing similar pricing as well. People recognize this and are jumping on these homes fast. If you want a brownstone or brick townhouse in Brooklyn and you’re priced out of Fort Greene, Clinton Hill, Boerum Hill, Brooklyn Heights, etc, etc where else do you go?