Tuesday, June 12, 2012

Knocked It Outta the Park: 1377 Pacific Street

If you're priced out of some neighborhoods, yet you still look down on neighborhoods you can afford, you're simply behind the curve.  Today's pick is another winner in Crown Heights, 1377 Pacific Street.  Barely out for 4 days with a list price of $825K, it had more than a handful of offers (all above asking price) after their first open house the weekend before last.  This wouldn't be the first time this month we've seen a Crown Heights property go well above asking price.  It's also not the first time we've seen an offer accepted in Crown Heights within 2 weeks.  What made this renovated brick 3-Family go so fast?  The super-stylish renovation "designed by award-winning architect owners" - period.  Pictures don't even capture how stunning and stylish this place is on the inside...

Honestly, the photos (while decent) can't communicate what it's like to walk into this space where every square foot is pleasantly & functionally configured.  Each floor has its own unique touch.  It's more MoMa at times than townhouse.  The backyard has a wooden deck and nice ivy growing over the brick to the rear of it.  They even cut a ~5' x 5' window on the bottom floor looking out to the yard, that brings in so much light you can see straight out to the backyard through it from the front sidewalk.  Central A/C for the owners duplex?  Yes, please!

The success of this "for sale by owner" listing is a great example of the whole being greater than the sum of its parts, and cutting out the broker middle-man when you've got a product that sells itself.  Sure, there are a few rough edges to the renovation; like they did a better job on the more difficult penny tile than the simpler subway tile.  But what the renovation lacks in quality in a few places, it more than makes up for in style.  Many will pay up for this aesthetic because they wouldn't even know how to duplicate it if budget were no object.  Which is why we're looking forward to the next project from this form & function-conscious crew.  In fact, we'd like 'em on the team for our next renovation!

Pro's:  totally turnkey, stylish renovation, backyard with deck, central A/C for owner's duplex, close to the express trains at Nostrand

Con's:  basically gone already, up against other bidders who'll chase the style, many aren't ready for Crown Heights, not for the original detail fans

Ideally:  generic renovators should take note and see what a difference an eye for design can make

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