New Development: Lineage at 315 Greene Avenue

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On possibly the rainiest day this year we decided to do what felt like a marathon of open houses. My husband had suggested that perhaps we should stay in. I for some crazy reason that I can’t understand disagreed, “we’ll be mostly indoor anyways” I whined. So he gave in, and we both lived to semi regret it. After viewing 270 Greene Ave it would’ve been a short skip to 315 Greene Ave. if not for the torrential rains. We were beginning to get soaked when we made it in through the doors, “best stay awhile” the agent greeted us — and she was so nice about it we did stay awhile. Enough to get a good look at the goods.

The first unit we looked was 1B a 2 BD / 2 BA ground floor duplex at $610k and at over 1,500 sq ft it was well positioned. The unit was impressive. The light filtered in from both the back and the front yard, giving it an ambient glow throughout. The living room had floor to ceiling windows, which opened nicely to the front, and a not-too-small balcony in the back. The bedrooms breathed well, and had decent closet space, the bathrooms featured nice spa like finishes but weren’t connected to any particular bedroom so it would have to be shared with living room traffic. The downstairs portion of the unit was laid out similarly to the above, but had only half as many windows giving it a basement-esque feel. The “bedroom” at the bottom didn’t have a door, but it seemed for all intents and purposes to be intended as a bedroom and was staged as a kids room, it opened out to a small but pretty garden. Overall the unit was very strong, and we liked that the stairs felt like stairs (i.e. it had a landing) and not a hybrid between steps and a ladder.

We continued to look at some of the other units, one bedrooms (2B) but didn’t like them half as much. They featured the same layouts but without the duplex,  which actually took a lot away from the units. They put a “nursery” where the stairs should’ve been, and it just seemed awkward that the nursery would be effectively in the hallway, though I suppose it could function successfully as a home office.

Though just down the block from 270 Greene Avenue, the neighborhood already felt changed, brownstones graced the block rather than empty weed ridden lots, empty store fronts or boarded up houses. The building itself is non-descript, and there aren’t any amenities, not even a common roof deck so you can expect to NOT get to know your neighbors. Also, you’d have to resign yourself to the G and all the transfers that entails.  Still,overall it was in our minds a pretty good value for the price, and certainly much stronger than many new developments we’d seen, including 270 Greene.

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Restaurant: Loretta’s Coffee and Tea

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This cafe looked so gosh darn charming from the outside, we couldn’t help but feel compelled to eat in it. It made for some tasty light fare. Their service is very personal — the girl behind the counter seemed to be barista, waitress, and cook. And she multi-tasked to perfection, delivering a latte with just enough milky (soy) swirl, and a turkey-swiss croissant with buttery crunch. The backyard patio was cheerfully quaint and provided a great backdrop for our weekend brunch date. Terrific!
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New Development: 270 Greene Ave

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We weren’t expecting much from 270 Greene Ave. We had actually gone there the past weekend but missed the open house by 15 minutes. We did however get an eyeful of its cinder block exterior and surroundings. The abandoned liquor store on the corner, overgrown parking lot next door, boarded up townhouse across the street, and empty store fronts that littered the block did not bode well. But we would’ve been wrong to dismiss it.

An increasingly rare breed of agent was well prepared with marketing materials, his card, and knowledgable on the highlights of the development. He pointed out that things would be rapidly developing in this area. He gestured to the corner cafe, “see .. that just opened a few months ago, and directly across the street a restaurant will be opening from the same owners as General Greene.” “REALLY?” we asked in unison.  Quite a feat if it’s true.

The units were pleasing, and spacious at $549k for 987 sq ft , $689k for 1,312 sq ft, and a whopping $775k for the penthouse  3BD / 3BA. The finishes were modern,  jacuzzi tub, high ceilings and oversized windows. Some of the units were also nicely laid out duplexes with surprisingly roomy closets. The development also had large personal storage, bike storage, common (but small) roof deck, and a nice 15 year tax abatement. All that said, the units seemed a bit dated. There were unsightly ACs littered about the rooms, the architecture and design didn’t leave much to the imagination, and despite the jacuzzi tub the bathrooms were on the bland side. And while the common charges were very low ($320 or less), I wouldn’t mind paying extra for a door man, given the neighborhood still has some rough spots.

Overall, the development was better than expected but over priced. The agent certainly did a lot to highlight its strong points, but there’s no getting around that it’s only near one subway (the G) — which means you’d have to transfer to get almost anywhere. It’s still next door to a parking lot of weeds, boarded up townhouses, and limited amenities.

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Taking the Plunge

It’s all bad news this week on the real estate front. Now that numbers for July are in ( post $8,000 tax credit) the monster has reared it’s ugly head. For those of you who haven’t heard, think 25.5% down, exceeding even the grimmest predictions. NYTimes reports that  home values have declined in some areas by as much as 30%, heralding a decline the likes of which we haven’t been seen since 1999.

It seems the parade is over, analysts of every ilk are claiming housing as a money making market is over. People will only buy houses to “live in” not to “make money”.  We’ve chosen a simplistic and optimistic view. When the broad economy recovers, the housing market will recover. If there’s anything that the market has taught us it’s that it’s cyclical. Maybe it will never cycle back to where it once was, but this gloom and doom prediction is just unreasonable. Buyers are few — sure, that makes sense in a tough economy, people tend to be  skittish, hoarding their cash under the bed. But the benefits of buying a house are still apparent and as far as I know they were never called into question. It’s so deeply ingrained in the American psyche that to say people won’t buy houses again is practically tantamount to saying they’ll never have kids again, and THAT market is suddenly dried up, because let’s face it we haven’t had reproduction numbers this low since the Ice Age. I’ll take my chances.

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Coop: 209 Clinton Avenue

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When thinking over what kind of apartment we wanted to buy in NYC invariably coops were discussed. We quickly dismissed them since neither of us were interested in running through the gauntlet of the board. Yet, we couldn’t help but notice some of the great values were coops. So we decided to look at what appeared to be an incredible value coop– 209 Clinton Avenue.  Corner unit, two bedrooms, 1 bath, hardwood floors, Manhattan views, ~ 900+sqft and sunny. All for ~ $420k. Not bad.

We suspected we weren’t going to like it when we saw the complex resembled an upscale project. We grew more suspicious when we had to navigate the security guard with the wobbly eye. And Josh just about turned around when we saw that what we took for a bathroom was actually the elevator. When we got to the floor there weren’t any signs telling us which unit it was — and the doors themselves weren’t labelled, blind luck guided us to the right door. The agent greeted us in what I thought was night gown. But she seemed friendly enough. The owner was also present, and staring creepily at us as we toured the apartment.

Not to be too harsh, it still affords a great value for those who don’t mind an apartment that looks its age. It also had great light, peeks of a Manhattan view, and is located on a beautiful tree lined street that had many graceful houses.

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Browonstone: 204 Clermont Avenue

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We’ve been looking at almost exclusively new developments. Partially because that’s our preference, and partially because they seem to have the most open houses. But Brooklyn is not all about new developments, in fact new developments are almost the antithesis of Brooklyn. So this weekend we decided to mix it up a bit, looking at some old with some new. Josh is a big fan of brownstones and imagines that one day we’ll own our own little piece of something along the brownstone belt, so 204 Clermont looked like a good place to start.

The agents believed 204 Clermont was built “around 1901″. It’s used as a 3 family unit, though it has a COO of four, currently all units are being rented out. The owner we were advised would take the duplex units, meaning the first two floors and a deck.  The owner unit featured 2 roomy bedrooms, a parlor / liming room, kitchen, dining area, large windows, a marble mantle, 12+ ft ceilings, granite counters, and garage. The top two floors we were assured would be easily rented out due to its close proximity to Pratt, and in fact the they were already being rented out for a cool $1,500+ each. A $3,000+ monthly influx is certainly nothing to sneeze at, and with all the sun (i.e. double exposures) its not hard to see why.

But this brownstone wasn’t in the best possible shape. The exterior and interior needed noticeable paint jobs. Renters had occupied the building, and it showed. Just from the outside the brownstone didn’t look that well maintained (compared to its neighbors) and the whole place had a sort of run-down feel to it. The realtors did what they could to explain the condition and highlighted its fixtures, unique details, strong foundations and space. Josh actually thought the brownstone was beautiful and didn’t think the $1.5M was unreasonable given that it comes with a $3k+ monthly income. I wasn’t thrilled with the lightless downstairs bedrooms, and the dingy feeling throughout. I was especially disappointed that the owners had basically destroyed the beautiful bay windows by putting a kitchen there. I don’t know, maybe Josh is right when he pointed out, “Marie, it’s over a hundred years old its not going to look like a brand new condo in a high-rise, it’s abrownstone.” But I still don’t get it.

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Belltel Redacted!

One of my favorite blogs for all things decor, apartmentherapy recently did a cover on a Downtown Brooklyn apartment called “Gene’s Graphics & Color“. I flipped through the photos, and imagine my surprise when invariably I saw it closely resemebled the units at the Belltel. Not only that, but  it seemed to be from the very same line we were looking at earlier this year. I gotta admit they’ve done a lot with the place — lux finishes in the bathrooms and nicer sliding doors on the “home offices”, I’m seething with design envy. But still, no amount of renovations and awesome interior design is going to make up for the fact that it’s still only got two windows, and the bedrooms are reailroaded together.  Or does it?

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Restaurant: Lobo Tex-Mex

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The in-law’s came to visit — at the time we hadn’t gotten to know our neighborhood very well, but knew that court street en route to Cobble Hill and beyond was scenic and seemed likely to have a cute cafe. We were originally going to stop in at Joya, which allegedly not only has great food, but also a pretty good DJ. I’m still not sure how I feel about a DJ in a restaurant — not outside in the garden part, but actually indoors right by the tables.

The wait for Joya was ~ 20mins, which we were fine with, if father and son had not spied Lobo across the street. Tex-Mex had piqued their interest, and reviewing the menu outside they saw goodness inside. The interior has a woody – Texan bar feel. The menu looked more Mex, than Tex, but I suppose they mean that this is a Texas style of Mexican food. The chips and salsa they served at our table was very good and got our hopes up. But the food itself was tasty but not  anything to write home about. I got the portobello fajita which was satisfying if a bit unimaginative. The Margaritas were also tasty, though very icy. The prices were pretty reasonable, that’s probably the best part of this place.  Otherwise we probably should’ve waited for Joya.

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Boerum Hill: The tale of two front doors

Two Front Doors - 442 State St

We almost walked by this house without realizing it’s very unique feature. But once noticed, we felt it was something like a 3 legged unicorn, something special but also something not quite right. Even if we could get over the bunk doors there’s still the perilous stairway leading to the inevitable face plant.

442 State Street was Brownstoner’s House of the Day — March 25th 2009,  but they didn’t mention its special character  – in fact their photos seem to go out of the way to hide it. When it sold May earlier this year they still didn’t mention the bunk doors. I say celebrate it. Can’t wait to see what the new owner does with it.

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Restaurant: Burger 67

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We passed Burger 67 a few times during our weekend tours of Fort Greene, and it’s always busy and smelling like something good. Finally, we decided to try it. It’s a nice sit down fast food joint. The staff is friendly and helpful. The wait was a bit long — we had long finished our onion rings before our respective burgers came out to play. Mine was a bacon burger (no cheese), his was a cheese burger (no bacon) and we both slurped up some soda. The total came out to $26 — not cheap but not super pricey.

When the burgers did come they sang a song of toasted bun glory, and 10+oz. I was ready to dive in, but a yellow jacket got to it first. I squealed in disappointment, but the good people at Burger 67 replaced my soiled set up on-the-house. Good people and an even better burger. Yum!

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