Thursday, July 26, 2012

Tried to Tolja': 355 Eastern Parkway

All last month we kept you up-to-date with the flurry of activity in Crown Heights that launched bids and sales prices well over asking.  "Is Crown Heights basically cooked already?" one reader asked.

Whoah, there!  Let's not lose perspective.  We're still talking about entire townhomes well under a million or just barely above a million, which is what jokers spend on condos just a few avenues over.  This Corcoran broker dropped the lovely 10 St. Charles Place on ya for $920K, right around the corner from the Franklin Avenue 2/3/4/5 stop and all that its bustling commercial corridor has to offer.  Low-ball bidders were quickly in the rear view mirror as bids shot up to $1M in no time.  Now she brings you 355 Eastern Parkway, just a few doors down from the Franklin stop, and she ain't wasting no time on this one either...

One joker broker on Brownstoner even erroneously claimed this was a short sale, which it isn't.  Jay-Z says, "I'm on my grind, cousin.  Ain't got time for frontin'."  Caterina doesn't have time for mischaracterizations & low-ball nibblers.  Bids are already in the mid-$900's, including a cash offer.  This 3-story 2-Family house has original details like killer floors and built-in wood cabinets.  Did somebody say "pocket doors"??  Sure it needs updating.  It could even be reconfigured extensively if you wanted to take it there (we wouldn't).  But you're not getting much more prime location than this as Crown Heights goes.  Being right on Eastern Parkway isn't even that bad because you get a peaceful tweener street and a nice set-back from the front yard.  Maybe you're not digging the painted green on the lower level of the limestone?  Blast it off.  Not digging the astro-turf green covering the backyard?  Pull it up.  Not digging the price action in Crown Heights?  Get over yourself.

When the Brooklyn Nets are here, gentrification reaches "Defcon 2", and Prospect Heights is neck & neck with Park Slope, maybe then you'll realize that Crown Heights is essentially Prospect Heights' answer to South Slope (they're geographically mirror images of each other, actually).  Though, by then dinky fixer-uppers will be well north of a million (as they long have-been in South Slope), so react accordingly.  But please don't say we didn't try to tolja'.

Pro's:  curb appeal, location, original details, under a millie, set back from the street, backyard waiting to bloom

Con's:  no undercover listing pricing here, updates to be done

Ideally:  this is a great play that won't dawn on many until it's too late.  Luckily, there's an even larger one just like it still available.

1 comment: