Tuesday, September 10, 2013

Crown Heights Gets a $2M+ Listing: 1234 Dean Street

One of our favorite blocks in our favorite neighborhoods in Brooklyn now has a $2.195M listing.  The owner gave us a tour a few weeks ago before the listing came out.  1234 Dean Street came with original details in about as good of condition as we've ever seen.  From the wood floors to the wainscoting to the pocket doors, to the built-in cabinets - even the original glass & hardware!

Sure, much of the original details came in almost this good of shape the first time around, when the house was purchased for less than a quarter of this price.  But the updates sure take it to the next level.  Our iPhone shot of the kitchen alone had ladies swooning...

And the listing didn't even include a proper pic of this incredible original stove!

The owner showed us this throw-back intercom still intact, for all you Downton Abbey heads to call up your tea from the maids' quarters...

If you liked 1142 Dean Street as much as we did, then you'll be all-in on this one.  And to think they had to practically beg people for bids over $900K on that badboy not long ago.  Heck, just across the street they found it hard to justify over $1.2M last year for an 8-Family with upside at 1243 Dean Street.  But this is a new era, a new Brooklyn.  When the top tier neighborhoods effortlessly command $3M, fixer-uppers in the $2M's start to poke into the next-best neighbs.  Then something like this comes along.  We can already hear the peanut gallery whining about the owner's cost basis, but that's just sour grapes.  Where were the folks who could easily afford these homes in 2009-2011 when they were begging to be swooped up for over half-off today's prices?  Those who missed the boat might take some solace in throwing rocks at the throne.

Pro's:  curb appeal, original details for dayyyys, modern upgrades, great block, perfect for end-users

Con's:  no secret, won't go cheap, not for investors or those banking on rental income

Ideally:  you can scoff at the price, but certainly not the quality


  1. Just came across a Brownstoner chain from 2009 discussing this house when it was listed for $849,000. Everyone then was exclaiming how NUTs the price was. Some folks saying that it should sell for $400,000. What a difference 4 years makes!

  2. the "ladies" swooning? check your gender assumptions.

  3. Yes, that's correct. The two human beings who swooned at that photo happened to be ladies. Check your knee-jerk political correctness. =P

  4. We almost bought this house in 2009 for $605K. At that point, the top floor was unlivable due to water damage, it needed all new heating, plumbing, and electric, plus new kitchens and baths. I thought we would never be able to get the money out of it we would have had to put in (wrong on that one)! But the deal killer was the owners (an estate) couldn't deliver a clean title.

  5. In contract below asking price, but a nice number that's nothing to scoff at. Owner says if it were a 2-Family not a 1-Family, it would've easily gone higher.