We’re curious to know what people think about this brick for-sale-by-owner (though this owner has a real estate license) on 15th Street between 4th and 5th Avenues. There was open house last weekend (and another one coming up) so hopefully some of you have been inside. At the $1.4 million asking price, this 1880 Federal home comes in at around $400 a foot. Cheap for Upper Slope, not for Lower Slope (and this is somewhere in the middle, right?). Either way, it looks to us like there might be a development play here: It’s a wide lot (25′ x 100′) and the FAR is 2.43 which implies there a total of more than 6,000 square feet allowed as-of-right. The existing structure is only 3,600 square feet. If you back out even $100 a square foot for the remaining buildable, this starts to look pretty attractive, no?
188 15th Street [House on 15th Street.com]