Real Estate Sunset Park

What can you get, and how much will it cost you, in Sunset Park?

May 11, 2018 By Lore Croghan Brooklyn Daily Eagle
Sunset Park's housing stock includes hundreds of landmark-worthy, century-old rowhouses, like these on 50th Street. Eagle file photo by Lore Croghan
Sunset Park's housing stock includes hundreds of landmark-worthy, century-old rowhouses, like these on 50th Street. Eagle file photo by Lore Croghan
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Just add gentrification?

The city’s announcement this week that it will create hundreds of jobs by enlarging the port in Sunset Park raised an immediate question for those would-be workers: Where are they going to live?

Sunset Park has slowly been gentrifying — even before the hipster foodie destination and bespoke manufacturing center Industry City, which has added 5,100 workers in just five years.

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Over that same period, prices have soared. Back in the first quarter of 2013, for example, the median sale price of a 1- to 4-family house was $685,000, according to the data firm PropertyShark. In the first quarter of this year, it was $1.2 million.

The waterfront neighborhood’s housing stock includes landmark-worthy century-old brownstones primarily located between Fourth and Fifth avenues and 43rd and 59th streets — relics of the days when Sunset Park was first settled in the 1880s and 1890s, with a heavy concentration of Polish, Norwegian and Finnish residents. In the first half of the 20th century, Scandinavian enclaves named Little Norway and Finntown sprang up in the neighborhood.

Some of that remains visible. Some of it is covered over with aluminum siding.

So what can a homebuyer or renter expect? Here are the bottom dollars:

 

What $1-1.5 million buys  

Many historic rowhouses are close to $2 million, but there are values to be found:

* A seven bedroom, three-and-a-half bath brick rowhouse with a rectangular bay at 448 46th St. is on the market for $1.5 million. Jorge Navas of Trinity Homes Group LLC has the listing.

The asking price for 448 46th St. is $1.5 million. Photo courtesy of Trinity Homes Group LLC

* A barrel-fronted three-family brick rowhouse at 320 60th St. has a $1.499 million asking price. The apartments have hardwood floors, lots of closet space, and there are original tin ceilings on the second floor. Lolita Andrade of Hometown Properties has the listing.

This rowhouse at 320 60th St. is for sale for $1.499 million. Photo courtesy of Hometown Properties

* A siding-covered century-old, five-bedroom/two bath home at 355 44th St. is listed at $945,000.

What $500,000 buys

Numerous condos and co-ops are on the market in the $300,000 to $500,000 price range.

* The asking price for a two-bedroom, one-bathroom condo at 546 55th St. is $480,000. It was converted fairly recently from a rental by developer Jaime Davila.

* There’s a $420,000 one-bedroom, one-bathroom co-op at 521 41st St., which is located at the entrance to the park that shares the neighborhood’s name. The co-op has high ceilings, parquet floors and views of the Statue of Liberty, New York Harbor and the Manhattan skyline. The building has a bike room and a laundry room. Corcoran has the listing.

What $3,000 per month rents

These days, it looks like the highest Sunset Park residential rents are around $3,200 per month:

* A two-bedroom, one-bathroom duplex at 320 42nd St. has hardwood floors, exposed brick walls, an in-unit washer and dryer, and a private backyard. Janine Acquafredda of House-N-Key Realty has the $3,000-per-month listing.

* A rental inside a brick rowhouse at 521 47th St. has two bedrooms, a home office that can be converted into a third bedroom and one bathroom. The apartment has wood floors and treetop views. Imma Giocoli of Tyler Vincent Real Estate has the $2,800 per month listing.

What $2,000 rents

* A one-bedroom, one-bathroom apartment at 325 57th St. has hardwood floors and a den that could be used as a home office. Heat and hot water are included in the $1,900-per-month rent.

* The rent for a one-bedroom, one-bathroom apartment at 3917 Fourth Ave. is $1,700 per month. It has hardwood floors. The building is a brick rowhouse with a storefront.

What $1,150 to $1,500 rents

* A second-floor studio at 526 52nd St. is $1,350, including heat.

* A newly renovated studio at 4202 Fifth Ave. is  $1,150 per month. It’s in a rowhouse with a storefront on the corner of 42nd Street. The building is right across from the park.


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