Some interesting properties newly on the market in the hood. There's this two-story townhouse on Sterling between Rogers and Nostrand, which is a bit east of what we normally think of as Lefferts Garden but it is, indeed, part of the landmarked district.
Corcoran has the listing for $799,000; if this was located .2 miles west and .3 miles south (putting it on Maple between Bedford and Rogers), it'd be a steal. As a comparison, check out this Brown Harris property on Midwood between Bedford and Rogers; it's also a two-floor townhouse but is listed at $925,000. The Brown Harris listing does have a garden -- and judging from the photos posted online, the Corcoran house looks as if it might not -- and the B-H listing might have some more original detail, but the Sterling St. one definitely appears to be in decent shape.
There's also this 3-bedroom Tudor on Chester Court listed for $697,000. Even more than the Corcoran house, this is a property that's going to be effected by its location. Chester ain't no Beekman, but it's sketchier than just about any Manor block on the other side of Flatbush. It also butts up against the subway tracks. Still, even for what appears to be a pump-and-dump property, there's a lot to like here: jacuzzi, finished basement, two fireplaces, backyard, exposed ceiling beams, wainscotting, parquet floors; if you told your average New Yorker you could get a single-family home that was a stone's throw from Prospect Park for under three-quarters of a million bucks, they'd assume you'd just been dropped off from a 1990s time machine. (An aside - and I know I'm about the billionth person to remark on this -- but it boggles my mind that some real estate companies are so lazy (or ignorant) as to not even bother to set up a functioning website. It's the equivalent of not bothering to clean up the dog crap in your front yard before you schedule a showing.)
Speaking of stupid web strategies, here's a $299,000, 2BR listing with virtually no information contained therein. I'm pretty sure it's 306 Lincoln Rd (between Rogers and Nostrand). It's these type of properties that are going to be the most interesting over the next year. A million bucks -- which is probably a good average for townhouses in the Manor proper -- is going to be too high for a lot of younger couples/families priced out of Park Slope (or Fort Greene, or Windsor Terrace, or virtually anyplace north of Brooklyn College), especially without the possibility of rental income to offset the mortgage. But a $299,000 2BR with 10% down comes out to a monthly mortgage of $1,662...and that's less than you're gonna pay in rent in most places in the city. When I moved to New York (in the early 1990s), I was paying almost a grand to live down in the Lower East Side, and that was when junkies were literally shooting up on the street. (I actually was only paying a grand until I discovered the apartment I was living in was stabilized; from that point on I paid $350. But you get the point.)
Anyone seen any of these places? Or have any thoughts? I'd especially love to hear from apartment hunters out there...