Thursday, November 11, 2010

Borderline Great: 159 Luquer Street

Carroll Gardens and the surrounding Boerum and Cobble Hills are as hot as ever. According to this Daily News article, sales are way up (as we've noted anecdotally) and the average sales price of $1.54M for homes in Cobble Hill is the highest in the borough. That said, what does $1.425M get ya? Once upon a time, some shells went for that much. Sales may be up, but are prices? Lots of great luxury buildings have closed in the $2M range, but we focus on places more within reach than that. 159 Luquer Street is a 3-Family brick building just off Court Street. The listing advertised on pitches is as "Architect's Welcome" and we don't even think the inside looks THAT far from where it needs to be:

Obviously, this isn't where it COULD be, but it's no gut reno to us, as much as the listing hypes up that angle. Throw in a little back yard action, and you've got a really workable 20' wide property here:

There are more newbie's in this area worth comparing it to that we'll bring you in the coming days.

Pro's: curb appeal, proximity to Court and Smith Streets, short hike to F train, nice quiet block, doesn't look like it needs the heftiest of renovations, nice original details

Con's: price could be high for the more affordable budget, how much renovation is needed?

Ideally: Take a look at it and make a go for it!! Someone's bound to swoop it up for more than $1.2M, but it's worth a shot.


  1. According to NYTimes, this is now In Contract:

  2. This closed for $1.325 on 2/8/11: