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February 12, 2007
All-or-Nothing Brownstone Rental in Slope
This has to be the sickest rental in Brooklyn right now. The owner of this detail-heavy brownstone on Lincoln Place in Park Slope is looking for someone to take the entire four-story, eight-bedroom house for a long-term rental. (Don't bother asking to buy — he ain't interested in selling.) The house is stunning, except for a very regrettable kitchen. Why someone who probably has a couple million of equity in this place would cut corners is beyond us. Anyway, even if you're not in the market for a rental, the listing's worth checking out for the photos alone. Droolworthy, for sure. Any guesses about what the monthly rent would be on this place. $10,000?
Park Slope Landmark Brownstone for Rent [Craigslist] GMAP
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This has been on Craigslist for a very long time. I think he/she was originally asking b/w 8-9k. Not sure what the price is now thoug.
Posted by: Anonymous at February 12, 2007 12:35 PM
If dude ain't interesting in selling then dude shouldn't be whining about the fact that no one wants to rent it. Poo poo or get off the pot, owner.
Posted by: Anonymous at February 12, 2007 12:38 PM
this reminded me of another brownstone for sale in park slope (i know about this because i happened to meet the owner once...the garden is to die for and he did a really nice job on his labor of love) here is the url:
http://www.corcoran.com/property/listing.aspx?ListingID=926885&Region=Nyc
Posted by: brenda at February 12, 2007 12:54 PM
I think this would be a perfect place for "The Real World - Brooklyn". MTV where are you?
Posted by: Shahn Andersen at February 12, 2007 12:56 PM
I remember trying to get an idea of what it would cost to rent an entire Brownstone b/4 we bought ours and I stumbled across this one. The listing has been on craigslist for well over a year. I guess if you can afford to rent an entire brownstone in ParkSlope, I think you can afford to BUY YOUR OWN in another neighborhood if not Park Slope. I doubt anyone would take the entire place....LONG TERM.
Posted by: NewStoner at February 12, 2007 1:03 PM
i agree....send this link to MTV!!!
with all the brooklyn press as of late, a real world brooklyn seems a great idea!!!
Posted by: anonymous at February 12, 2007 1:05 PM
This ad has been on Craigslist for months and months, and with no listed rent it's doubtful anyone would bother with it. Although it looked awesome -- I briefly thought about getting 11 friends together or so...
Posted by: Q.R. at February 12, 2007 1:15 PM
This is been available for over a yr now . He is askin 8 k
Posted by: eletricgreek at February 12, 2007 1:16 PM
Did you see the heading on craigslist. Must be the only 18th century brownstone in existence.
Posted by: loser at February 12, 2007 1:21 PM
8k does not seem unreasonable, given that a floor-through apartment in a brownstone in this neighborhood can rent for close to $2,000. The ideal tenants would be relocating from another part of the country or abroad and need a year or two to rent and get a feel for the area, but those kind of tenants are likely to go through brokers, I would think.
Posted by: Anonymous at February 12, 2007 1:21 PM
Why would anyone pay a rent roll of this much money?
Posted by: Anon at February 12, 2007 1:33 PM
yeah, this has been on craigslist forever. i think the owner owns a bunch of other rental properties too, cause all of his listings have the same formatting. but i doubt he's going to find anyone for this. apparently he can afford not to. it's a shame to see it sitting empty like that, though.
Posted by: sylvia at February 12, 2007 1:46 PM
But look, say you need a house for your family for a couple of years in New York before you move back to San Francisco or Singapore or wherever. 8k x 24 months is $192,000 in rent over two years. If you bought a place instead--say this house costs 2 million--your closing costs, including mansion tax, mortgage tax, lawyer's fees, inspections, etc. would be upwards of $50,000, and when you sell the place again, you're going to pay a 6% real estate commission of $120,000. If the market goes up, great, you'll make a little money off your endeavor, but if it stays the same you're virtually breaking even, without the headache of property ownership.
Posted by: Anonymous at February 12, 2007 1:54 PM
I actually LOVE the kitchen. It's no lower in quality than anything by poggenpohl, trust me, but it's normal. no efn pretention.
What do you want, more stainless? gimme a break. Don't get suckered into that, Brownstoner. you should know better.
Posted by: Anonymous at February 12, 2007 2:17 PM
I'd say $8,000 would be totally fair.
Posted by: Anonymous at February 12, 2007 2:18 PM
I know the owner. He owns TONS of properties. He fixed this up because he had been renting out to about 8 kids and they trashed the place. He only wants families now, no shares. He won't sell it and really believes he can get 10K for this. I know houses in BH that are nicer and they don't get this kind of $. He's a dreamer...and not a very nice person.
Posted by: anon at February 12, 2007 2:44 PM
Fair to who?
Posted by: Anonymous at February 12, 2007 2:51 PM
i am amazed. if this property was for sale at $2.5MM everyone would think it was a bargain. $8K to rent a building worth $2.5MM is indeed a bargain!!!
Posted by: Anonymous at February 12, 2007 3:00 PM
whoever said that kitchen is no better than poggenpohl is out of their mind. that kitchen is horrendous.
Posted by: pietro at February 12, 2007 3:01 PM
"But look, say you need a house for your family for a couple of years in New York before you move back to San Francisco or Singapore or wherever"
Wherever like in Ga Ga land?
Anon 1:54, your plan hasnt worked for a year. It's time for new plan or diffrent approach.
Posted by: Anonymous at February 12, 2007 3:18 PM
Wow- this must be the sickest thread on the web. So the guy wants to rent out the house- if you don't want to rent it, you're entitled but jeesh. You people carry on like he personally attacked you and destroyed your homes. And you jumped on the bandwagon too Mr.B. Why is this the sickest rental in Brooklyn? why can't he keep his property and choose to rent it out? I thought it was still a free country. There's always been this anti-rental thing going on on Brownstoner, but get a grip people.
Posted by: Bx2Bklyn at February 12, 2007 3:21 PM
I lived in this house for 13 years. Rent was $3k from 92-97, went up to $4.5k in 98 and stayed there for 7+ years. We lived there quite comfortably with a group of 6 people total. There was only one kitchen (now there are two which you might find confusing in the photos). We shared general household expenses and responsibilities, and in general led a fairly idyllic communal life in a great house. We had some turnover amoung the housemates, but 2 of us lived there for the whole 13 years, and many people liver there for 5 or so. Our agreement with the landlord was a kind of "don't call us, we won't call you." We took care of many aspects of repair (including once replacing the Hot water heater, although even I admit that was an extreme example.) Usually we informed him of anything we felt we couldn't take care of. He seemed willing to take on some things, like a plumbing problem with a pipe that was buried in the wall and leaking. Other items, like the carpenter bees eating the wood windows and regular wear and tear items he seemed to shrug off. All in all we were very happy there and our rent was reasonable enough below market that it made sense to rent. We did not trash the place, but we did actually live in the whole house (6 of us) for 13 years. When we left most of what it needed was a coat of paint and a coat of poly on the floors.
In early 2005 our rent was raised to $6.5k a month. We decided it wasn't worth it anymore. The group was getting harder to hold together, and it felt like time to build equity. The core of 3 that had been there the longest moved to Crown Heights, where we now own a comperable sized brownstone and live happily ever after, with tenants on the ground floor and a bigger back yard. He listed it on the market at $8k and later a $10k after the kitchen was renovated and the whole house painted and poly'ed
In my estimate the owner is both crazy and emminantly sane. He rented the house to us for years at just below to way below market rate (depending on where in the 7 year rent interval you measure.) Mostly this was because he didn't want to be bothered by the property. We gave him that. He owns plenty of commercial real estate. He is not hurting for cash and doesn't have a mortgage on this property. He just has fun using his hired handyman staff to renovate a handfull of residential properties when they have down time. (I have seen the reno albums he keeps in his desk drawer.) In 1990, if you believe his tale, he acquired the property for $250k and spent that again on the renovation (adding the kitchen, renovating 3 bathrooms, striping every bit of paint from all the woodwork, including 2 floors of wainscotting, new wood windows, putting in all new mechanical, electrical and plumbing systems, and digging the entire basement down 18 inches and putting in a new slab.) He is doing just fine. He does not negotiate on very much, his usual position is "take it or leave it."
If the .5m house would then rent for $3k, why shouldn't the 1.8m+ house rent for $10K now?
The fact that this house has sat empty since May of 2005 might speak more to the insanity of the market then to the insanity of the landlord.
We had many happy times in the house and it will always hold a special place in my heart. Try to view it around May 9th when the wisteria is in full bloom.
Posted by: ameraleed at February 12, 2007 3:30 PM
good for you ameraleed. yours is the most coherent part of the thread!
Posted by: m at February 12, 2007 3:52 PM
I live in one of the houses behind this one, and had always heard it was some kind of commune but didn't know any details. I hadn't seen anyone around in awhile so I was wondering what was up. Good luck, ameraleed. Sounds like purchasing a house in Crown Heights was exactly the right thing to do.
Posted by: Park Sloper at February 12, 2007 4:14 PM
a couple of addenda:
I think the analysis by 1:54 is valid, especially when you factor in that some corporations pay the rent for "short-term" relocations.
The rent is in the ballpark, but probably excessive if the tenant has to be a family and not a bunch of pals. Who needs eight bedrooms? I know, I know, the Brady Bunch.
Posted by: Anonymous at February 12, 2007 4:34 PM
but geeze it's been a yr.... but hey I wont hate if he can hold out for more than a year i'd like to be like him one day.
Posted by: Anonymous at February 12, 2007 4:47 PM
I don't think $8-$10K is so bad for an entire brownstone. If you can get 4 people together, you get quite the party house for $2K-$2.5K. Seems perfect for four recent law school or business school grads, assuming he is not insisting on more than a 2 year lease.
Posted by: Anonymous at February 12, 2007 5:12 PM
Check out this listing for a brownstone on Lincoln Place between Sixth Avenue and Seventh Avenue from the Corcoran website. It is likely the same house and this has the rent going for $10,000.00. http://corcoran.com/property/listing.aspx?Region=NYC&ListingID=920284
I guess it's not so insane that someone pay $10,000.00 for a full brownstone in Park Slope if they pay that much for a three bedroom apartment in Manhattan. This house is incredibly well preserved (love that original bathroom), but yes, the kitchen is kind of disgraceful. The Poggen Pohl comment was kind of off because I don't think Poggen Pohl would manufacture any cabinetry fitting of this house as their products are more modern. However, I suppose the owner of this home doesn't want to invest $50,000.00 on a Clive Christian original kitchen with the Viking range and Sub-Zero refrigerator if it's been sitting on the market for almost two years and it doesn't appear that anyone is gearing up to sign that "Long-Term" lease.
Posted by: Justin at February 12, 2007 5:22 PM
by the way: this landlord will make you supply your own refrigerator. he will probably put in the stove for you but reluctantly. the windows don't "meet" so you have a terrible draft. work is shoddy at best.
Posted by: a at February 12, 2007 5:31 PM
Those numbers belong in Manhattan not Brooklyn.
Posted by: Anonymous at February 12, 2007 5:39 PM
Why oh why would you put such light colored cabinets in a building that has all that fantastic darker wood?
Posted by: Anonymous at February 12, 2007 5:51 PM
Bx2Bklyn..."sickest" as mr. b is using it is not meant as an indictment on the landlord or the price...he means "sickest" like nice or really nice...like...that is "sick"..it's slang...you simply misunderstood.
Posted by: what bubble? at February 12, 2007 6:19 PM
He better hope that some apt. sharing attorney doesn't give him a jingle to ask about the place. Isn't it illegal to discriminate against people just because they ain't married with children?
Posted by: Anonymous at February 12, 2007 7:54 PM
what bubble?- I dunno, you could be right. I took it in the context of the rest of the blurb, which hardly sounded like fan mail. "bad" I get- never heard "sickest" used like this before, but then who can keep up? Seems other people took it literally too, except they thought it meant open season on the guy for wanting to rent instead of sell.
thanks amerileed for the history of the place. It's true- if you look at prices in Manhattan, 8-10K is not unheard of and for less space. I'd take a Brooklyn brownstone over a Manhattan apartment anyday.
Posted by: Bx2Bklyn at February 13, 2007 1:00 AM
Last comment makes no sense. If this were in Manhattan it could be rented for 100,000 a month by a foundation, , an embassy, a corporation, etc. You may prefer to live in Brooklyn than live in Manhattan. Your personal preference has little bearing on the market price of renting a brownstone in Manhattan.
Posted by: Anonymous at February 13, 2007 5:10 AM
If the place had kitchen and bath as impressive as the rest of the house, I think this place would have been rented a long time ago.
Landlord decided to get cheap and put the ugliest kitchen in brooklyn (and Im going to assume the same for the baths).
People with $120/K year to blow on rent want high end kitchens and baths. And no, stainless doesnt make it high end...but stock cabinets and 50cent tile is a shame.
Posted by: Anonymous at February 13, 2007 8:22 AM
"sick" in this context obviously means good - he was commenting on how nice the house is. duh.
Posted by: Anonymous at February 13, 2007 10:30 AM
Anon 5:10- sure it does. I'm comparing the money you spend for the amount of space you get. Never said my personal preference affected anything.And as it were, the conversation was about residential, not commercial rents.
Anon 10:30- a little late for the bandwagon aren't you? Been there, done that.
Posted by: Bx2Bklyn at February 13, 2007 10:52 AM
The golden rule in the game is location location location.
Manhattan numbers belong in manhattan.
Posted by: Anonymous at February 13, 2007 11:00 AM
Hey ameraleed
Did you guys do sort of a party open house where all perspective tenats came by and the current tenats voted on who to rent o. If som I think I may have stopped by but didn't get picked. This would have been in March or April of 97. Not that I expect you to remember back that far.
Posted by: william at February 13, 2007 2:27 PM
William, No that is not us. That is the house on 6th Ave between St.johns and Sterling. Great group. As far as I know they are still there. Our house tried to have one or two of us first screen prospective housemates and then we would all have dinner together for a formal interview.
There are a few other houses that are still structured this way, but fewer each year. At the high point in the mid 90's there were at least 7 that were loosely connected (through friends, lovers, etc.) Once we even had a big party where we all traveled from house to house in the course of a day, with different food served at each house.
Posted by: ameraleed at February 13, 2007 5:52 PM
There is a beautiful brownstone on the block where I used to live in the Heights that rents for $8000 a month. Doesn't include the garden level though. It was actually written up in the Times last year because the guy who moved there with his family is a famous Broadway composer I think. It was vacant for over a year before they moved in.
Posted by: Dilworth at February 15, 2007 11:03 AM
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