House of the Day: All About the Threes
Three is the magic number for this Ditmas Park Victorian: three bedrooms, three bath and three-car garage. We’ve got nuthin’ to go on with the interiors, but the exterior certainly has some Victorian charm, especially that gabled tower. (Is that the correct term, architects?) Not that we want to promote the upsizing trend in this…
Three is the magic number for this Ditmas Park Victorian: three bedrooms, three bath and three-car garage. We’ve got nuthin’ to go on with the interiors, but the exterior certainly has some Victorian charm, especially that gabled tower. (Is that the correct term, architects?) Not that we want to promote the upsizing trend in this area, but we couldn’t help but notice that there is a lot of unused FAR on the property. So we hope a nice single-family user buys this place (which is listed for $799,000)! The house is pretty conveniently located just a half-block off Cortelyou Road. How close is the nearest subway from here? There was an open house on Sunday. Reactions?
424 Marlborough Road [Warren Lewis] GMAP P*Shark
This neighborhoods is great. I have had two kids here and been able to spend a lot of time with them rather than working fulltime because we moved out here 7 years ago when the market wasn’t hot over here and there were no amenities. But now I see Prada walking down the sidewalk it is a bit disarming and odd. I think that is a dream, to have a three bedroom three bath home! Hope they sell it to someone who cares and gets a deal.
Of course the rich get richer, why is that a surprise in this country of ours. Stinks but true. And with this current administration it’s even worse. But people who were able to bust their butt several years ago to buy a home and put their heart and soul into it can now see it pay off. Whether they were expecting it to or not. My friend bought in Park Slope 15 years ago for $50,000 and now it could sell for $600K. He spent all his time and money to bring it back to life. He would be considered in the lower income bracket. He’s not moving anytime soon though. They now have the opportunity to move to an incredible neighborhood and live in a city and have a house in our hood. I am one of those couples who CANNOT afford a house but NEVER expected to. This is NYC. There’s a point where I think so much space is unnecessary, especially in a city. The trees and relaxed atmosphere can make us forget that we are still in a huge city. Sooooo many young couples have moved into the neighborhood (I’ve lived here for quite some time) We bought a two bed co-op and it broke my husband and I (and I am sure it’s laughable how much we paid but it took every penny we had) but we pinched and saved and as a middle to lower income family, we can have a home. Not a “shoebox” and be part of an excellent community. So many of these houses are huge and even if they were much cheaper, I couldn’t afford one month of utilites! The neighborhood was wealthy people when the houses were first built and then saw a dip in prices and now it’s going back up. I don’t want a massive house I want a nice apt and I can tell you that young couples are moving here constantly b/c the prices are hundreds to tens of thousands less than just across the park. If you want a cheaper house don’t buy one in NYC. This is what happens in a neighborhood where you can have 4000 sq. ft or 500 sq. ft. This house is a great size and could be magnificent for a family not looking for a mansion.
agree with AL. I think (not 100% sure) this point was overlooked in the posting about the young couple who moved back to BH after a stint in Cal. If you read the NY Times article, you’ll see the only way they were able to afford a $870K house was because of the sale of his parents home after they past away (I presume). He then bought a place with that money some years back and cashed out when the market exploded, giving him a huge return.
and as AL said above, people always need a home, so while a lot of people earning moderate incomes benefited greatly from buys years ago, I myself couldn’t afford a home in 1997 (I just recently purchased very nice one-bed in Ditmas Park), so, as in most cases, the rich get richer.
I would not categories people who bought back in the days as wise investors. People always need a home to live in and people are always buying and at that time what ever time it may have been, I am sure for many people when they bought that was a lot of money to them…
If we all ask our parents and grandparents, I am sure they will agree.
I think this market is really hurting the young families.
Where is the money coming from? I personally couldn’t do it, but many folks who bought in Caroll Gardens or Park Slope back in the day are cashing in and moving out and, in my opinion, movin’ on up to more space and a great neighborhood! It is a joy to see these homes being restored to their former glory and not snatched up by developers who brick or stucco them to within an inch of their life. Seen some of the prices in Park Slope lately for shoe boxes and no outside yard? I’d do this in a heart beat. Wish I had had cash to buy a place in the Slope years back. Although I am jealous, I say kudos to wise investors from years back. It has now paid off for them.
The tower has a steeple roof with a flared edge. A gable is the triangular area where the two sides of the roof meet. Those small (probably attic) windows on the front and side would be considered gable windows. The house is a style called “folk Victorian.”
I can’t believe that house went for $60,000 over ask. It had major structural issues — the only way I could see to make it work was to tear it down.
I love how a house priced at 799K is now considered “affordable.”
Very desirable house. Besides the price being right, the taxes are low and the square footage is reasonable, unlike other Ditmas houses which can be very expensive to heat and renovate. I predict this will go quickly for asking or above. There have been fewer and fewer affordable houses in the past two years in Ditmas and this is definitely one of them. The “bring your architect” fixer upper on Mary Kay website last month went for $60,000 over asking (according to her website).