Recent Record Set in Prospect-Lefferts Gardens

51 midwood Recent Record Set in Prospect Lefferts Gardens

51 Midwood Street (Photo from StreetEasy)

Prospect-Lefferts Gardens is pretty much the final frontier of Brooklyn gentrification. It has gorgeous turn-of-the century homes, but it’s always been on the wrong side of the park. The neighborhood experienced a boom in the pre-Lehman flush days, but property prices have dropped in recent years. It looks like things are on the up and up for PLG, however, as a recent sale came though last week for $1.57 million—the second largest sale the historic neighborhood has seen, and the biggest in almost five years. The deal, which was first reported by Brownstoner,  charts the neighborhoods meteoric rise.

The sellers, journalists Renee Michael-Prewitt and Milford Prewitt, were sad to leave their home at 51 Midwood Street, but after 13 years, it was time. “We wanted to downsize,” Ms. Michael-Prewitt told The Observer yesterday. “We always knew that we would buy a smaller house at some point. This is a four-story limestone and its just the two of us.” The couple had been living in the 4,000-square-foot home since 1998 when, city records show they paid just $309,000 for it.

Prospect-Lefferts Gardens has all the trappings of The Next Park Slope. When the former farm was sold in the early 1890s, the proprietor enacted land-use restrictions, requiring nearly all residences to be single-family dwellings. The close-knit community is attracting young couples, like buyers Vanessa Woog and Thomas Scott hoping to own their own homes. Ms. Woog, who works with the Department of Health, and Mr. Scott, an executive director at  Morgan Stanley, come to PLG from Soho by way of Park Slope, a source told The Observer, so it must be the new place to be.

The couple have a full six bedrooms in their new house, with skylights, an oak staircase, restored 19th Century detailing throughout, and an expansive triple parlor overlooking the backyard, which Ms. Michael-Prewitt said she will miss dearly. Ms. Woog and Mr. Scott will enjoy luxuries little seen in Manhattan. And they’re getting it at a slight discount from the $1.6 million asking price.

“There were several houses on that block and this one just really went,” Corcoran broker Susan Slater, who had the listing, told The Observer. “It wasn’t on the market very long. I think about forty-five days.”

eknutsen@observer.com

Comments

  1. Zeine15 says:

    The “wrong side of the park.” Really??????????? 

  2. Drassent says:

    The times have changed to the degree of what has become a frontier of reckless and careless regard for the poor by real estate lions whose intentions are to make an example out of the poor.  It would appear that the lions are reaching into the poorest of  brooklyn’s regions and pouring incentives for those with whom the concept was “I can no longer afford to live in the heavens of Manhattan” so therefore, it has now become the norm for all persons whose income are much better than those actual residents of Brooklyn to sort to buy out the neighborhoods.
    This is a sad and most awful way for people who can hardly make it to suffer once again at the hands of those whose intentions are to dislocate the poor by what ever standards they deem to apply as for the reasons for moving into the most historically hated parts of Brooklyn.  It is true that the presence of  law enforcements authorities are greatere than ever.  Although, all ethnic groups are welcome, a greater number of  certain groups are making every effort to raise the bar of surprise which has now become the very code of welcome they are using as their right to community reentry.   I  am hoping that  they can now see that Black people on whole are very  wonderful people and extends the welcome despite the great financial diffiiculty this form of community retaking may have.  Despite all the issues and hardships some may suffer, let us all hope for greater and more improved happenings for all.

    By:  Dr. Desmond A. Assent