Why did this Brownstoner featured apartment take so long to sell?
http://bstoner.wpengine.com/brownstoner/archives/2010/08/coop_of_the_day_409.php Brownstoner featured an apartment I looked at last summer. It was on Union Street asking $845,000 for a 3(ish) bedroom and everyone agreed (which is rare here) that it was well priced for the area. I saw it and liked it but passed because I didn’t like the kitchen and living areas. As I…
http://bstoner.wpengine.com/brownstoner/archives/2010/08/coop_of_the_day_409.php
Brownstoner featured an apartment I looked at last summer. It was on Union Street asking $845,000 for a 3(ish) bedroom and everyone agreed (which is rare here) that it was well priced for the area. I saw it and liked it but passed because I didn’t like the kitchen and living areas. As I look at places though, this is a comp, so I am kinda interested to know what everyone thinks.
Yes, having once lived on Union St. with the bus and truck traffic, and blobs of black pollution wafting in my windows, never again.
Can’t comment on this particular apartment, as your link didn’t work, and I’m too lazy to look it up in the archives.
Someone above mentioned firehouse traffic, which makes me think it was on that block between 6th and 7th. In general, that’s a very commercial feeling block, not a nice quiet residential block – and with every other block nearby being different in character, why go for this one?
I don’t think being outside the school are matters as much as being on a busy street. People buy the smaller brownstone 3 bedrooms for more space often, not just for kids. (By the time their kids get to school age, they are outgrowing the tiny bedrooms and moving anyway – you see this trend when you go to see who is selling at open houses.)
that’s not a great price for a 3-bedroom on that street. 2 way traffic, bus route could return, and if it’s a small 3 bedroom (1,100 sq. feet range) then that’s why.
there’s a 1,600 sq foot three bedroom on 6th ave and 7th street that just sold in $700k range (needed a reno). $800k means a nice slope 3 bedroom now, not a marginal one.
My guess is that the block is pretty crazy, lots of trucks, parking garages, fire house, traffic, etc. That and it is on the wrong side of the street to be in District 15, which would matter to someone looking for 3-4 bedrooms. I had a friend who once sold a similar-sized place on this block and had trouble getting buyers, and these were the two complaints most often heard.