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April 6, 2005
House of the Day: Seven Figures is for Wimps
One of the reasons this Columbia Heights brownstone may have flown below (or should we say above) our radar is that it never occurred to us to set our upper price limit on the New York Times real estate search engine above $10 million. Our mistake. While we were making a big deal about the measly $6 million asking price for 101 Willow Street yesterday, a reader pointed out this Brooklyn Heights uber-pad on the market for a cool $20 mil. Isn't that $2 million more than Bruce Kovner paid a couple years ago for his Fifth Avenue Mansion that's probably three times the size? Man, oh man. We're speechless.
Columbia Heights Townhouse [Brown Harris Stevens]
Comments
What are these guys smoking?
Posted by: Patrick at April 6, 2005 11:42 AM
Can't blame 'em for trying! good luck there. :)
Posted by: hedgefundmomma at April 6, 2005 1:02 PM
Crack
Posted by: Anonymous at April 6, 2005 8:34 PM
There's an article in the Sunday NYT about this house:
http://www.nytimes.com/2005/04/10/realestate/10deal.html
Interesting, the owners turned down an unsolicited offer of $10 million in cash. It was this offer that prompted them to sell their house, but to ask $20 million.
Posted by: Anonymous at April 9, 2005 8:37 AM
The best part of the article is the fact that they paid $2 million for it in 1999. That's a 1000% gain. Bubble anyone? Even the 500% gain at $10 million seems ludicrous. Check out what you can get in the west village for $10 million where prices have been in this stratosphere for a bit longer. A fool part's with his money very easily I guess.
Posted by: Anonymous at April 11, 2005 5:45 PM
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