Saturday, May 18, 2013

The $1.8M's Are Coming: 55 Rutland Road

We warned you last year when the millionaires were creeping east across Classon Avenue into Bed-Stuy.  Not the one millionaires, the TWO millonnaires!  Now the list price and sales price of $1.8M is popping up all around the "emerging neighborhoods" of Brooklyn.  Bed-Stuy's 7 Arlington Place listed for $1.3M and reportedly went for a bid of $1.8M cash in under a week - without even having an open house.  If you think that means Bed-Stuy's cooked, guess again.  Platinum Members were inside one of the next-best buys in Bed-Stuy across the street for $1.2M just yesterday.  Another gem in Bed-Stuy by the Utica stop listed for $1.8M and went very close to that price quickly.  And another one just listed at that price.  Over in Lefferts Garden, a contract is signed on Rutland Road around $1.8M too.  So obviously the next house to come out on that block, 55 Rutland Road wants the same price.  Whether you're bullish or bearish, for better or worse, this is what's happening.

Hate on pricing if you must, but what is an historic house this sick supposed to cost??  Did you miss the gem at 44 Rutland Road for $400K+ less than this last year?  55 Rutland is all that & then some.

Restored, renovated, well-kept, landscaped, landmarked, "Registered with the National Trust", featuring "oversized mahogany fireplace, ebonized dado panels, gilt crown moldings, and a floor-to-ceiling domed bookcase flanked by built-in cabinets" - this house has it all.  Word on the street is that asking price won't even get it done.  All for less than half the price of what the same house would cost on the other side of the same park.  As they say, "It is what it is."  And it's spectacular!

Pro's:  curb appeal, sick interior, totally renovated & restored, park nearby, unique gem

Con's:  secret's out on Lefferts, won't go cheap, Park Slope purists will scoff, the neighborhood doesn't offer what many expect for these pricepoints

Ideally:  where's the next house this sick for less?  Wake us up when a condo in Manhattan beats one of these.


  1. Has this house gone into contract yet ?

  2. Buyer e-mails us that they closed today just above asking price...