Condos of the Day: 486 3rd Street
We’re gonna keep working this converted Brownstone condo thing some more…The current owner paid $1,600,000 for this five-story, 4,400-square-foot brownstone on 3rd Street between 6th and 7th Avenues back in 2004. Now he’s looking to sell the four units for a combined $4,455,000. Even if he has to take 10 percent below asking price, he’s…
We’re gonna keep working this converted Brownstone condo thing some more…The current owner paid $1,600,000 for this five-story, 4,400-square-foot brownstone on 3rd Street between 6th and 7th Avenues back in 2004. Now he’s looking to sell the four units for a combined $4,455,000. Even if he has to take 10 percent below asking price, he’s going to be doing pretty well. If he spent about $250 a foot on renovation and another three hundred grand on carrying costs, then his total cost would be around $3 million. As for the units, we think they look a tad nicer than yesterday’s 418 Henry but they’re also a tad more expensive. It’s also a little easier to find a condo in Park Slope than Cobble Hill.
486 3rd Street [Douglas Elliman] GMAP
Anon 12:24 – I think most people purchasing these duplex cellar/garden condos actually use the downstairs rec room as the 2nd bedroom, although it cannot be legally advertised as such. That’s why the developers dig a trench with a bridge over it to allow the cellar to have light instead of keeping it a windowless rec/media room. The reno looks all right but the prices are just depressing. And they will probably sell.
These look like condos that I saw on 3rd St., same block, a few months ago. Corcoran had the listing. I think it’s a diff. batch, but same materials. They were nice but awfully small inside. And the bottom duplex was a weird layout, with the bottom part being half under ground.
The 2 2-bedroom, $880,000 floor throughs are the only apartments priced within range. They do have low maintenance, and at least a family with kids willing to pay the ps 321 premium might go for it. I just don’t understand why advertise a 1 bedroom (plus rec room) as in 321, since anyone with kids needs at least a 2 bedroom and isn’t going to pay one million plus for a 1 bedroom. Makes no sense.
11:52…it appears that condo buyers are not house buyers…big difference…less maintenance and the available services in PS, BH, etc., blow away the available services in Ditmas, Kens…condo buyers appear willing to pay a premium for this…pretty simple…not my favorite block on 3rd St but not the issue here.
“$1.5 mil for a 2bd/1.5ba unit and you don’t even get a counter depth fridge.”
who cares?
Anon 11:52. I dare say that the difference between the commutes is less than 20 minutes. Totally agree.
Those are tiny and no closets — and the lofts are not rooms. It’s like 900 sq ft of livable space plus a loft for $1.5 MM! Insane!
It’s a Box on another Box in a big Box. I just can’t figure out how the proximity to the city (slope/hill/boerum -vs- Ditmas/Kensington for example) is worth double the price per square foot. It’s just crazy money. I’m up for a 20 min longer commute for the price break, details and driveway.
I dont know if the price is right or not but Im digging the style of the place. Drooling over the soapstone.