House of the Day: 207 Berkeley Place

saw the place last week.

it's a really lovely house in need of some substantial work. i think most of it is cosmetic, but the details are all there...and they are gorgeous!

the garden level is a doctor's office currently being rented out. i think it would work quite nicely for a one family, however.

it's a really beautiful tree-lined block, great access to transportation and the park, shops, etc.

there is also a nice extension on the back and a garden with a lot of potential. the house just needs some serious tlc.

it's one of those places that you walk into and can just feel the history. go with an open mind, as it is in no way staged, and there is a family story involved that you'll have to ask roy about yourself, if you go visit.

it's a gem in the rough, for sure.

Posted by: slopehead at August 7, 2007 1:55 PM

also forgot to mention...the agent said to bring your contractor, he can let you know how much work might be involved, and then make an offer.

you are right, i think they are shooting for the stars in terms of price, but i think (restored) this would be just one of the loveliest places around...

Posted by: slopehead at August 7, 2007 2:03 PM

sorry to post yet again, but i was curious your thoughts on what a fully restored brownstone in this part of park slope would sell for, in your opinion?

i don't see too many listed, so it's hard to judge.

Posted by: slopehead at August 7, 2007 2:06 PM

if i'm not mistaken, the owner passed away.

Posted by: slopehead at August 7, 2007 2:11 PM

here's my take on it. i think it probably needs about 500K worth of work.

although i do think given the market and the size and the location, blah blah that 2.7 million doesn't seem too bad.

but the problem is that you don't see too many brownstones go for much more than 3 million around here. i think some of the nicer ones like this could test the market for the 3 million plus park slope brownstone market, but it seems a little iffy.

if you're buying because you have a large family, love it and want to stay for the next 30 years, it's nearly a no brainer, however.

Posted by: slopehead at August 7, 2007 3:36 PM

i'm gonna say 2.5 million would be an OK price, perhaps. give it some tlc and you've got a place you can stay in for a while and enjoy. i wouldn't say that's a bargain, per se...but an ok price. these houses are special and they aren't making more. something like this would be twice this on the upper west side, and in my opinion park slope is a preferable place to live. and i realize not everyone would agree, but those that do would likely be interested in this house.

to the brooklyn isn't that nice stuff...oakland california isn't that nice, parts of d.c. aren't that nice, lots of la certainly isn't that nice...but they are all extremely expensive. this isn't a brooklyn phenomenon. this is a case of our cities making a huge comeback from 40 plus years of primarily suburban living.

it has been studied. quite extensively.

although i do happen to think brooklyn is quite nice. wouldn't want to live many other places, in fact.

Posted by: slopehead at August 8, 2007 1:22 AM

two more notes:

roy is retired. he came out of retirement to help the family with this sale only. he's a friend of the family.

they have had an investor interested in the place, but the remaining family does not wish to go that route.

georgetown townhouses go for upwards of 2 million and i see zero difference between there and park slope or brooklyn heights.

i could find you 20 listings of townhomes in san francisco without blinking for above this price.

the point is, it isn't a brooklyn phenomenon. you should take a look at some of the other real estate markets out there...seattle, boston, los angeles. i think you'd be surprised.

Posted by: slopehead at August 8, 2007 10:38 AM

i don't agree, 11:07.

while the housing market is and should be cooling, i'm not sure that someone buying 3 million dollar properties are quite as affected by a percentage point increase in mortgage rates.

i'll let everyone know when i see the sign disappear.

roy said he's had quite a few calls (and that was before the brownstoner post yesterday) so it appears that his homemade sign might be doing the trick.

Posted by: slopehead at August 8, 2007 11:13 AM