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March 10, 2009

Price Cut at 615 3rd Street

615-3rd-Street-0309.jpgSex doesn't sell these days—at least not without a price cut or two. The glorious 4,500-square-foot brick-and-limestone house at 615 3rd Street in Park Slope started out asking $3,800,000 back in February (when it got the HOTD treatment) but scaled back its expectations with a $400,000 trim yesterday. What's it gonna take to get this deal done? If you had this kinda dough, what would you buy right now? GMAP




Posted by Brownstoner at 10:01 AM | Comments (12)
Categories: Park Slope, Properties

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"If you had this kinda dough, what would you buy right now?"

Nothing. I would wait for Case-Shiller to stabilize and then buy two 615 3rd Street's.

***Bid half off peak comps***

Posted by: Brownstones Half Off at March 10, 2009 10:10 AM

BHO, such a comedian. Don't quit your day job.

Posted by: daveinbedstuy at March 10, 2009 10:16 AM

it sure is hideously decorated, but i love the kitchen in the middle layout

Posted by: sender9999 at March 10, 2009 10:25 AM

Is it nicer than 555 1st street, or the MASTERPEICE at 897 Union Street? It looks like the price for grand brownstones is settling under the $3M mark. This one certainly has a very unique decorating scheme (ahem), so unless they have the good fortune to find someone with an inner Judy Garland, I don't think the current owners will be able to get their renovation money back.
If they bought it for $2,850,000 2 years ago, they would be lucky to get out at the same price, in my opinion.

Posted by: Maly at March 10, 2009 10:25 AM

Yes Maly, a few coats of more neutral colors will sell it quicker. Simple enough but a reality.

Posted by: daveinbedstuy at March 10, 2009 10:32 AM

If I was in the market for a very big brownstone, I'd go for the one at 567 1st street: very close to the park, a deeded parking spot and a relative deal at $2,575,000.

Posted by: Maly at March 10, 2009 10:50 AM

This house has beautiful bones. It's in a different league than 567 1st St.

You can completely change the house with paint and wallpaper and other surfaces things.

I hope this house doesn't go under $3m, for sake of preserving values of comps.

Posted by: new2 at March 10, 2009 12:07 PM

" If you had this kinda dough, what would you buy right now?"

A great vacation at one of the many 5 star resorts offering tremendous deals. As for real estate, I'd wait...

Posted by: shillstoner at March 10, 2009 12:19 PM

I'm curious new2 as to why you think this particular house has great bones in relation to 567 1st, or 555 1st, or 505 1st, each of which had an asking price substantially below this one, even after its hair cut. How are its bones better?

I actually prefer the layouts of 555 and 505 to this one because in this house the front parlor feels completely closed off from the rest of the floor. And you can't very easily open up the rear wall of the parlor to join the kitchen/dining area, as you would be destroying what appears to be a gorgeous original built-in cabinet.

I don't know. I guess it's all a matter of taste and living style, but this doesn't have a sensical master suite option (unless you turned the entire 2nd floor into the master level), has no formal dining room, no powder room, only decorative fireplaces and has a closed off front parlor. Plus, one would need to repaint the entire house. Unless you happen to like drag queen pink and so on.

Genuinely curious.

Posted by: Nokilissa at March 10, 2009 1:11 PM

Nokilissa,

I appreciate the *genuine* curiousity.

Actually, I mixed up 567 1st with another house. 567 is actually pretty nice too! Without a visit, I couldn't say whether it has *nicer bones*.

Sorry!

Posted by: new2 at March 10, 2009 2:13 PM

I would buy
3 million dollar hookers
or
6 five hundred thousand dollar hookers
or
9 Three hundred and thirty three thousand dollar hookers

Posted by: Xander Crews at March 10, 2009 2:48 PM

"I would buy
3 million dollar hookers
or
6 five hundred thousand dollar hookers
or
9 Three hundred and thirty three thousand dollar hookers"

Triiiiiiiiiiiiiick!!!

***Bid half off peak comps***

Posted by: Brownstones Half Off at March 10, 2009 4:06 PM

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