House of the Day: 419 Union Street
We’re loving the vibe of this four-story house at 419 Union Street in Carroll Gardens. The combo of the old-school floorboards and tasteful modern kitchen put this one in our sweet spot. The two-family property sold for $1,577,800 back in 2005 and was featured as an Open House Pick last June when it was listed…
We’re loving the vibe of this four-story house at 419 Union Street in Carroll Gardens. The combo of the old-school floorboards and tasteful modern kitchen put this one in our sweet spot. The two-family property sold for $1,577,800 back in 2005 and was featured as an Open House Pick last June when it was listed at $2,550,000. The asking price now? $2,300,000. We shall see.
419 Union Street [Corcoran] GMAP P*Shark
Well, I love dropping the post-mortem posts on these places while I do my tracking….for those looking, place sold for 1.8M, meaning from it’s original listing of 2.55M, it took a nice 700K haircut. What appears to be a gorgeous House went for 625 bucks a square foot 2 months ago.
The house seems appealing, but location is not. In the recent housing bubble, all the old real estate adages seem to have been forgotten. This is the classic case of being by far the nicest house on the block. Perhaps if it was on Union a few blocks west it might fetch near $2 million (and that’s assuming prices stay stable). But anyone who thinks the proximity to Smith Street adds some value here just doesn’t know the neighborhood. The blocks beyond Hoyt may be 1 block closer to Smith St., but all of Carroll Gardens east of the BQE is within easy walking distance of Smith, so no one is going to pay a premium to be on a so-so block just because it’s a bit closer. The other drawback to this house is that it is zoned for a poor elementary school. Buyers are paying a premium to live in the PS 58 school zone now, which covers a good portion of Carroll Gardens, but this house is not in it. And anyone who dismisses the importance of the school zone by saying “anyone who can afford this house can afford private school” just doesn’t get it. Most buyers who want private school would far prefer to be closer to the private schools — this part of Carroll Gardens is not very convenient to them. It only takes one buyer, but I doubt this house will get anywhere near $2 million and in this market, I wouldn’t even pay the original 1.5 million for it.
methinks “eman1234” has an agenda, but what do i know? http://bstoner.wpengine.com/brownstoner/archives/2008/12/no_oyster_bar_h.php#comments
Well folks we hate to spoil the party here but this place is NOT that impressive to us relative to other similarly priced homes in Brooklyn. For example we think the beautiful carpentry / woodwork has been obscured (@ least in the photos) by being painted. The painted facade and mediocre metal work is not desirable to us either:( LOL Having said that the floor plan and that deck are really cool for a 1 family and garden rental.
The price has been reduced by $250K which is quite significant but we still think there is a ton of reduction needed here in today’s market….probably $1.8m max but we will see.
jim mammary= neighborhood devaluation
if jim mamary opens a restaurant or bar in your neighborhood , he will drive the price of your house down
also the wine bar is the source of numerous complaints… jim mammary is a real lousy neighbor.. he is just anotther money grubbing asshat why do you think theowners want to move?
they will be lucky to get 900.000 in a year as the new depression begins
Lovely house, but that stretch of CG is a no-man’s land, save for the wine bar. Someone will come back with a How can you say that! but between Hoyt and Bond is neither fish (CG) nor fowl (BH). This will sit and sit and sit.