Open House Picks
Park Slope 6 3rd Street Corcoran Sunday 2:30-4 $1,895,000 GMAP P*Shark Crown Heights 1094 Park Place Douglas Elliman Saturday 12-3 $1,345,000 (was $1,395,000 then $1,200,000) GMAP P*Shark Bay Ridge 445 100th Street Re/Max Sunday 12-3 $679,000 GMAP P*Shark Flatbush 244 Martense Street Fillmore Sunday 2-4 $499,000 GMAP P*Shark
Park Slope
6 3rd Street
Corcoran
Sunday 2:30-4
$1,895,000
GMAP P*Shark
Crown Heights
1094 Park Place
Douglas Elliman
Saturday 12-3
$1,345,000 (was $1,395,000 then $1,200,000)
GMAP P*Shark
Bay Ridge
445 100th Street
Re/Max
Sunday 12-3
$679,000
GMAP P*Shark
Flatbush
244 Martense Street
Fillmore
Sunday 2-4
$499,000
GMAP P*Shark
> “What are those 9 HUGE ASS buildings 2 blocks west?”
Those are the Albany Houses:
– http://www.nyc.gov/html/nycha/html/developments/bklynalbany.shtml
Albany I Houses – consists of two developments, Albany and Albany II. Albany has 824 apartments in six 14-story buildings on 8.92-acres in Brooklyn. Completed on October 2, 1950, the complex houses an estimated 1,965 residents and is bordered by Albany, St. Marks and Troy Avenues and Park Place.
Albany II Houses has 396 apartments housing an estimated 944 residents in three buildings, 13 and 14-stories tall. Albany Houses, Troy and Albany Avenues and Bergen Street border the complex on 4.93-acres in Brooklyn. It was completed January 31, 1957.
Also, I have kids and would not have considered New Rochelle or White Plains, due to the public schools. The quality of the public schools was a major factor as well. If we were going to be forced out of the city (where our kids managed to attend excellent to good amazing excellent public schools. And you pay for that in Westchester and Fairfield. Not just in terms of school taxes, but it’s also reflected in the house prices.
If Pelham Manor had not involved commuting on 95 everyday, I would have seriously considered it. Love the architecture, and the town vibe. And the schools are fantastic. Although the $25K a year taxes are not so great.
Northeastern Westchester made the most sense for us, in terms of commuting. 2 acre lots, far less housing stock compared with down south…proximity to Greenwhich. $$$$. A million dollars buys you a split level that needs work. I thought we’d be able to cash out a little bit more. However, I am including the taxes in our monthly mortgage expenses. That said, our car insurance and home owners insurance has been halved.
Architerrorist-
Where did you ultimately buy? All I can say is that we saw tons of houses that fit the description i gave of our home in New Rochelle, White Plains, etc… Scarsdale was more money though. All I can really vouch for is our house, which like I said was built around the turn of the century, has been redone beautifully (while retaining period details, like stained glass, original floors, fireplaces, etc.), on over a 1/2 acre, etc. All for less than a brownstone in Park Slope needing a full gut would have cost.
I’m reading CW.
Where will prices be in 2 years? Flat or lower, but how much lower, I have no idea. If you are buying as a long-term home, then it’s not as much of an issue.
But how well do you know that area? I’ve walked around the blocks between Flatbush and Nostrand down there. That far down, Nostrand at night feels unsafe to me. And I wouldn’t be comfortable having my wife walk alone. You have to consider that.
CGfan – Thanks very much for the advice! I thought there was a good chance that the basement apartment was illegal. We’d consider putting in the necessary work to make it legal — it has its own entrance and everything so I don’t think it’d take too much, but we’d have to look into it. The fortunate thing is that my wife and I could afford the mortgage even without the rental income, so while we wouldn’t feel good about evicting someone, if we felt we had to do it to avoid illegality, we at least wouldn’t have to worry financially.
The neighborhood is not bad. While we’d be a bit out of place given that it’s overwhelmingly black populated, and we’re white, I don’t think it would be anything too problematic. Hopefully people would accept us as just another couple trying to own their own place. We’re not trying to flip the house or anything. We’re looking for a place where we can put down some roots.
We’d miss the restaurants and bars of Park Slope … but they’re a short subway ride away, so maybe that’s not so bad.
Anyway, we’re still considering and this one will probably go before we could make a move on it anyway – supposedly they’ve had two offers already – but thanks again for the info. 🙂
Splenda – We’re clearly not living in the same Westchester.
cwbuecheler, congratulations on finding a house you like. As long as it’s something you can easily afford, in a neighborhood you like and would be willing to live in that house for many years, what happens to the housing market over the next few years is less important.
However, the Flatbush house listing seems to say it is a one-family with a basement with “summer kitchen”, which tells me this is an illegal apartment, so you should go in knowing that your rental income could very easily be nothing, not more than the $700 the tenant is paying now. And, if it is indeed an illegal rental, you really might not want the risk or hassle of having a tenant at all. I’d advise against it, in fact, it’s just not worth it.
So, if you do like it, make an offer that assumes no rental income and is whatever you can afford to pay, not a stretch. It’s very possible, in this market, that it will be accepted, and if not, I promise you there will be another house out there for you eventually — it just means this one wasn’t the right one. Good luck.
I doubt anyone is still reading this but my wife and I just came back from the Flatbush house (Martense St), and I gotta admit: we’re pretty tempted. The house is in good condition, new floors, new windows, etc. It’s not falling apart. The basement apartment is currently rented month-to-month for $700, which could theoretically be raised since it hasn’t changed in at least five years.
I’m a little worried that the market is going to take a nosedive and I’ll end up paying close to $500k for something that’s only going to be worth like $350 in two years, but at the same time the prospect of actually owning our own home is incredibly appealing.
Anyone have any thoughts on the cost?