October 26, 2005

Heights Couple Ups Price Despite Slowing Market

The New York Observer today tells the story of the marketing of 82 Remsen street, a 37.5-foot-wide townhouse in Brooklyn Heights owned by Neil and Anne Estern for the last 50 years.

The Federal mansion initially landed on the market last winter for $10 million; it was listed with Kevin J. Carberry, an independent Brooklyn broker who has been working in the area for over 30 years."I was showing it for about two months, and I gave them two offers during that time,” said Mr. Carberry, who declined to specify the exact price. “Other brokers convinced them that it was worth more."

Next, the property was listed for $11 million with Liz Fishman of Stribling and Associates, before being scooped up a few weeks ago by Corcoran brokers Ellen Newman and Yolanda Johnson Vogelzang. Considering that Mr. Carberry was able to get offers at $10 million, increasing the asking price became a viable option. "Pricing is not an exact science,” said Ms. Newman, who admits that they have already shown the luxurious property to several potential buyers. “They had a lot of direct interest at $10 [million]. When we took it, they wanted to go back to $12 [million]."

The Observer notes that either price would break the record of $8.5 million for the sale of a Brooklyn residence. Right now, the highest asking price is $16 million (down from $20 million earlier this year), for a five-story townhouse on Columbia Heights.
Ante Up in Brooklyn Heights [NY Observer]
82 Remsen Street [Corcoran]

Posted by Brownstoner at 9:37 AM | Comments (3)
Categories: Properties

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