NOT LISTED FOR SALE

Estimated Value: $1,672,000 - $1,942,000

4 Beds
2 Baths
2,902 Sq Ft
$635/Sq Ft Est. Value

Last Sold April 21, 2021

Last sale price $1,625,000 $560 Per Sq Ft

Est. 13% increase in value since last sale

Current estimated payment $10,496/month

107 Days on Market

About This Home

As of April 2021

On a beautiful tree lined block, a 'superblock', this wonderful historic home, located in the prized Crown Heights North Historic District extension (designated by the NYC Landmarks Preservation Commission in 2015), is one of many Row houses built by the prolific architect, Axel Hedman of Brooklyn circa 1901.

The spacious building with a 19x48' footprint, front courtyard, historic wood and glass door, original cornice, and a full-height round projecting bay adorned with foliate scrolls, is a full 2,902 square feet of interior space. There are three stories and a basement with allowances to extend or build an additional 2,093 square feet if desired.

A beautiful reflection of the Renaissance Revival style, 1072 Prospect Place boasts many original period details that define its distinctive elegance and classic character. Original inlaid hardwood floors, original woodwork (never painted over!), fretwork and millwork, built-ins, pier mirrors, lovely fireplace mantles and other original features are in excellent condition and exude old world charm throughout.

Over the decades, the current owner has used the residence as a single family home with the kitchen located on the ground/garden level overlooking the backyard, a large private fenced rear garden which provides peaceful enjoyment for relaxing and entertaining Outdoors. The family has lovingly maintained the home and preserved its special details; however updating is required by the new buyer seeking to create a custom dream home that melds history with modern style. The home has been updated with an HVAC system.

The location is exceptional, steps from Brower Park, minutes to Prospect Park and the Brooklyn Children's Museum. Take the 3 train or walk to the C or A train at Nostrand Avenue for a fast commute to the city.

Prospect Place is a very unique block in that it was part of a pilot program to create a 'superblock.' Designed by I.M. Pei, the renovations to the street, which remain largely intact today, represent urban planning at its best. The widened sidewalks with attractive square pavers, new trees, and the installation of round concrete planters that double as benches create a park-like block that encouraged neighbors to congregate with each other outside. They made access to the block limited and put in place a street bed as a traffic-calming measure.

Prospect Place was chosen because it was intact, beautiful, somewhat isolated and, most importantly, filled with strong and proud community-minded homeowners. Shirley Chisholm, the first African-American woman elected to the United States Congress, was one of them!

This street was also featured in the 1978 production of The Wiz, starring Diana Ross and Michael Jackson. Except the address in the movie says 433 Prospect Place. But there's no place like home at 1072 Prospect Place.

Last Agent to Sell the Property

Ronit Abraham

Compass License #10301218736 Listed on: 09/15/2020

Compass

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $5,721

Year Built

  • Built in 1901

Lot Details

  • Lot Dimensions are 18.0 x 110.0

Home Design

  • Pre War Building

Interior Spaces

  • 2,902 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Community Details

  • Crown Heights Subdivision

Listing and Financial Details

  • Legal Lot and Block 116 / 1237

Home Details

Home Type

Single Family

Est. Annual Taxes

$5,721

Year Built

Built in 1901

Lot Details

0

Listing Details

  • Cross Street: Kingston Avenue/Albany Avenue
  • Property SubType: Single Family Residence
  • Property Type: Residential
  • Neighborhood: Crown Heights
  • Architectural Style: Prewar
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 3

Interior Features

  • Living Area: 2902.0
  • Living Area Units: Square Feet
  • Rooms (Total): 13

Beds/Baths

  • Full Bathrooms: 2
  • Bathrooms Integer: 2
  • Bedrooms: 4

Garage/Parking

  • Garage: No

Lot Info

  • Lot Size Dimensions: 18.0 x 110.0

Building Info

  • Total Stories: 3
  • Year Built: 1901

Tax Info

  • Tax Block: 1237
  • Tax Lot: 116

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 15, 2020
Closed on
Apr 20, 2021
Sold by
Andralyn Allen Executor
Bought by
Guss Chloe I and Varona Jordi Monso
Seller's Agent
Ronit Abraham
Compass
List Price
$1,625,000
Sold Price
$1,625,000
Current Estimated Value
$1,842,329

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$217,329
Avg. Annual Appreciation
2.93%
Original Mortgage
$1,370,975
Outstanding Balance
$1,245,084
Interest Rate
3.1%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$597,245

Purchase Details

Closed on
Aug 25, 2017
Sold by
Watson Lloyd R
Bought by
Watson Jennie A
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Guss Chloe I $1,525,000 --
Watson Jennie A -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Guss Chloe I $1,370,975
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/21/2021 04/21/21 Sold $1,625,000 0.0% $560 / Sq Ft
12/31/2020 12/31/20 Pending -- -- --
09/15/2020 09/15/20 For Sale $1,625,000 -- $560 / Sq Ft
Source: Real Estate Board of New York (REBNY)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $5,721 $132,240 $20,820 $111,420
2024 $5,721 $126,420 $20,820 $105,600
2023 $5,458 $133,500 $20,820 $112,680
2022 $5,365 $122,160 $20,820 $101,340
2021 $5,429 $94,320 $20,820 $73,500
2020 $1,316 $97,140 $20,820 $76,320
2019 $4,965 $78,780 $20,820 $57,960
2018 $4,565 $22,394 $4,857 $17,537
2017 $4,565 $22,394 $7,077 $15,317
2016 $4,297 $21,496 $9,175 $12,321
2015 $2,328 $20,966 $13,408 $7,558
2014 $2,328 $19,780 $13,947 $5,833
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10667487

Real Estate Board of New York (REBNY)

APN: 01237-0116