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February 9, 2007
Three-Way Race for 100 Decatur Is On
When we reported last week that there was a bidding was a bidding war over 100 Decatur Street, we also noted that there was a drop-dead date of last Friday. But from what we heard last night, the horse race is still undecided. Word is that there are three bidders still in the game with the price having now passed the $930,000 mark. Yowza. Anyone heard anything else?
100 Decatur Street [Corcoran] GMAP P*Shark
Whisper, Whisper: Decatur Is For Lovers (Not Haters) [Brownstoner]
HOTD: 100 Decatur Street [Brownstoner]
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Comments
I don't know specifics, but it doesn't surprise me. The open house I attended was mobbed-- a lot of young couples, some with their folks, and I think many from Manahattan. I would expect a brief surge in some neighborhoods of Brooklyn in the first quarter from Wall Street money. The bonuses were decent this year, and the financial industry remains one of (if not the) biggest earning industry in the city. My engineer has suddenly gotten a lot of calls for inspections for finance people looking at homes in the Clinton Hill area. 100 Decatur is on the edge of that 'hood and a little more affordable for twenty-somethings.
Posted by: Mikez at February 9, 2007 10:25 AM
That's great...Now just bring on the services to Bed Stuy
Posted by: Anonymous at February 9, 2007 10:26 AM
I am not looking to knock bed-sty at all...I just have a question. How safe is it and where do the families send their kids? My husband and I are looking and love the houses in Bed Sty but we both work and travel home late from the city and we are worried about having kids in the future. Could someone give me their perspective?
By the way the house is amazing!
Posted by: Question at February 9, 2007 1:48 PM
a lot of parents send thier kids to schools out of the district because the neighbor hood is still changing.
Posted by: Anonymous at February 9, 2007 3:25 PM
1:48 - I don't think you and your husband working late prevents you from having children - rather just reduces the opportunity for the necessary activities beforehand. Okay sorry, seriously, I think that you will probably end up shopping for a public school elsewhere. The problem may be that those which have traditionally sucked in out of zone kids, like 261 in Boerum Hill, may be filled up by the new condo-dwellers there. By the time you are worried about schools, the fine burgers of Fort Greene and Clinton Hill may have helped bring PS 11 and PS 20 upt to snuff, and you can try to get a waiver into them. A good website to look at is insideschools.org. Interestingly many schools which I had never heard about seem rated as well in terms as test scores as others discussed "in certain circles." You can probably also get a sense of what it is like to be the first wave of racial diversity (obviously I am making an assumption that you are not African American, and I could be wrong) or educational background into a solid working class school by looking through the archives of a yahoo group like FGKIds (Fort Greene kids) which documented in part some of the tensions at PS 11.
Posted by: putnam-denizen at February 9, 2007 3:37 PM
Schools are really tough. There are no schools in the neighborhood that are really up to par.
Right now most of the parents send their children to private schools or schools in other areas like Brooklyn New School, PS 8, 11 and 20.
The Stuyvesant Heights Parents Association is working to create a small school in the nabe that will offer high quality academics in a safe nurturing environment. The goal is to open in 2008 but there are lots of details and work ahead. Can it be done? Sure. But it will take time and volunteers.
Posted by: Anonymous at February 9, 2007 4:37 PM
I was surpised to come out of my house last weekend and still see random cars driving down the block with the "where am I look" all over the "chevy chases" of the drivers. Not to mention the "outta town" people walking down the block looking around like they were in a museum. There still was plenty of action at 100 Decatur last week.
"reduces the opportunity for the necessary activities" - hilarious.
Bed Stuy Living: it all depends on the block on which you reside. Some areas are cool and friendly. Other areas - not so much. I toured the area in which I live several times at night to get a sense of the neighborhood in order to ascertain whether I would feel comfortable.
I come home late at night all the time by subway and cab. I have yet to have a problem with a cab from the city to my house --albeit with my giving directions.
As for your yet unconceived crumbsnatchers - who knows. We are talking atleast 3-6 years away, right? The neighborhood transition has been at anything but glacial speed. 3 years ago, who would have thunk $930K for the second block of Decatur.
It will be ok.
Posted by: Big Paws on a Puppy at February 9, 2007 4:46 PM
All cash buyer of property is in the lead somewhere close to $950k. There is a higher bid and 10 back up offers.
Posted by: Cliff Klaven at February 9, 2007 5:16 PM
Sheeeeeeeeeeeeeeeeeeet. I would have a special pen to make sure that the Benjamins ain't counterfeit and would take the $950K and run....unless there was a sweet lil' family that I wanted to have the house.
Helluva profit.
Posted by: Anonymous at February 9, 2007 5:48 PM
Depends on how high the higher bid is and the rest of the details of that offer. On the higher offer anything less than $975 without at least 20% down would make me take the cash as well.
Posted by: Anonymous at February 9, 2007 7:11 PM
Here's an idea - I wish I could say it's mine, but it's really a description of the school I attended from 1st through 6th grade... (I got a very good education, as did other kids too - there were other ex-students who went on to ivy league schools, etc.).
Here it is:
Charge, say, $10K per year in tuition and hold classes with a multi-age group of kids with a size of 20 or less? That's $200K per year of operating budget for the school to hire a REALLY good, experienced administrator/teacher and an excellent teacher's assistant and rent for an office space. The concept was modeled after a 1 room schoolhouse.
With that much money, you could probably hire a management company to handle the school's finances and take the burden off the parents, who I'm sure are already stretched for time and energy (aren't all parents?).
For a point of comparison, St. Ann's STARTS at something like $40K and goes up from there. That's just ridiculous.
Maybe it's just because I was raised by idealistic hippies, but I think it's feasible.
Posted by: Anonymous at February 9, 2007 7:57 PM
The top tuition annually for a year at St. Ann's (it varies by grade) is about $23G this year - not $40G. Check it out:
http://www.saintanns.k12.ny.us/admissions/tuition.html
Posted by: Anon at February 10, 2007 1:47 AM
to "big paws on a puppy" you so savvy heh heh heh
Posted by: anon at February 10, 2007 6:14 PM
Schools are THE biggest issue for neighborhoods on the verge, no question. I live in one of those nabes but I'm willing to say it. The public schools outside of the most chic nabes suck. The city of NY needs to help Brooklyn find a solution, if NYC's plan to further gentrify Brooklyn is going to come to fruition. But it seems the city planners never think about infrastructure or schools. They just keep on building luxury condos, sports stadiums and office buildings.
Posted by: Anonymous at February 10, 2007 6:20 PM
If you own a home in the suburbs in Long Island or upstate New York, you pay $15,000 to $20,000 a month property tax anyway. So living in Brooklyn it's like you pay for tuition instead. At least once the child is done with school, you aren't still paying that high property tax.
Posted by: Anonymous at February 10, 2007 6:25 PM
And at least for the $20K tuition in NYC you're presumably getting something for your money. In a lot of upstate communities the property taxes are astronomical - and the schools still suck.
Posted by: Anon at February 11, 2007 9:18 AM
To the question of whether Bed-Stuy is safe or not: it's about as safe as Park Slope:
http://www.nytimes.com/2007/02/11/nyregion/11officer.html?ref=nyregion
Posted by: Bobby at February 11, 2007 10:18 AM
This is NY and folks need to remember that. With regards to the co-op school it really sounds possible. How many people out there are actually interested in something like this?
Posted by: Anonymous at February 11, 2007 12:15 PM
we are starting a family in bed stuy and would love to enter into a deeper discussion about alternative schooling options. how much merit to the co-op idea...sounds good to me.
Posted by: anon at February 11, 2007 11:14 PM
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