Condos of the Day: 153 Lincoln Place
Fifteen months after buying the Victorian mansion at 153 Lincoln Place in Park Slope for $5,500,000, the new owners have converted the former brothel into a swanky 10-unit condominium. Prices at the Lincoln Condo range from $900,000 for a lofty two-bedroom to $1,450,000 for a three-bedroom duplex. Clearly this was truly a gut reno (probably…
Fifteen months after buying the Victorian mansion at 153 Lincoln Place in Park Slope for $5,500,000, the new owners have converted the former brothel into a swanky 10-unit condominium. Prices at the Lincoln Condo range from $900,000 for a lofty two-bedroom to $1,450,000 for a three-bedroom duplex. Clearly this was truly a gut reno (probably by necessity) so there’s no historic detail to speak of in the interiors; the size of the building, however, means that the layouts are more interesting and, in some cases, spacious than your typical brownstone condo. We’re particularly digging this bay-windowed bedroom. There’s an open house on Thursday from 4 to 8 p.m. and on Sunday from noon to 4 p.m.
153 Lincoln Place Listings [Brown Harris Stevens] GMAP
No More Cheap Rooms at 153 Lincoln Place [Brownstoner]
Memories, Draped in Red [NY Times]
Went to the OH last night. Good in concept, but not the best in execution. The units are mostly big enough but too many rooms squeezed in to awkward spaces. Several of the 3BR units would benefit from being large 2BRs.
Several units will be quite dark with part of the living space mostly below grade. They do have windows but a good part is obscured by retaining walls close outside.
Master baths in several are very small, others OK. Similar story with kitchens.
Personally think the smaller units are better value than the larger ones. There were a lot of people at the OH. Will be interesting to see whether people are tempted at those price levels, now that financing seems to be taking another step backwards – hearing as much as 30% down required by some financial institutions now.
lechacal I’m not really sure if your post applies here. I think very few people bought in Park Slope “chasing their own greed”, unless you think it is greedy to want to live in a nice neighborhood. And your comment about “fringe neighborhoods” obviously has no relevance here.
Taxes aside for a moment…Even more interesting to compare Williamsburg to PS after the Radiac story on Gowanus Lounge and Curbed. Right near Edge, Domino and other developments. No thank you.
Folks:
Be careful on taxes. This is a J-51, not a 421a. Building had a huge pre construction assessment as a hotel. Net net: do your due dilligence on where real estate taxes will go. It is very likely benefits will take significant time to kick in. Figure only a partial abatement will last 10.8 years.
Marion
I really really love Lincoln Park….and I havent even been to Coleman Pool yet! Can you imagine how I will feel when I have?! Probably I will wish that I could live there is what will happen…BBQing every night in our own little BBQ hut, sleeping under that stars with the water rushing over the rocks, waking up and swimming in heated salt water pool!!!!! …..eating Marion berries…..walking my dog….possibly seeing some sea lions?!
What?! No camping?!
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Jonty rodes
Virtual Bird Dog Blueprint
Virtual Bird Dog Blueprint
Freddie and Fannie have nothing to do with the softening price of real estate in Brooklyn, unless of course you count their role in the misplaced fears of an ignorant public. Fannie and Freddie have not stopped lending.
Buyers of NYC real estate chased their own greed for the last ten years and will chase their own fear for the next five. They will blame a lot of things, maybe including Fannie, Freddie, the President, the climate, Alan Greenspan and the price of oil. But very few will admit that it was their own bad judgment that landed them house-poor and underwater on a million dollar morgage, watching their equity evaporate as the receding tide of a long bull market washes out of their fringe neighborhood and leaves them stranded.
I haven’t been actively looking in a few months, but these prices would have been reasonable before all the freddie/fannie business.
I checked this place out this evening (from the sidewalk of course). It’s a very deep lot – the building goes back a ways, so I’m not too surprised that they managed to fit 10 units. Looks nice from the street. I’ll definitely check out the open house. I’m in the market for a 3-bed (with all the patience in the world; if I have to wait two years then so be it). I think at this point I have seen every other 3-bed on the market in the entire Slope.
Wasn’t “oxymoronic” DOWhat’s third name? Sorry, that was ozymandius…