30 Orange Street Sells for $2,775,000
When we posted about 30 Orange Street back in April, the four story brick house had just had its asking price cut from $3,100,000 to $2,900,000. (As a commenter points out below, it began life at $3,250,000 in February.) Despite the fact that the house needed a full renovation, the consensus opinion seemed to be…
When we posted about 30 Orange Street back in April, the four story brick house had just had its asking price cut from $3,100,000 to $2,900,000. (As a commenter points out below, it began life at $3,250,000 in February.) Despite the fact that the house needed a full renovation, the consensus opinion seemed to be that the market-clearing price could not be much less. Sure enough, the property went into contract at the end of June for $2,775,000 and just closed on July 30.
HOTD: 30 Orange Street [Brownstoner] GMAP P*Shark
I love how the interior wall color matches the brick outside nearly perfectly.
I think it is a healthy selling price. With toasted wheat germ sprinkled on top.
Knocked back with a shot of organic juiced wheatgrass.
The house is 2400 sf.
So it sold for $1156 a square foot and needs a ton of work, it sounds like.
You don’t think that’s a MORE than healthy selling price????
Come on abcdz…how many Corcoran listings do we see over the course of a week?? I think Mr. B is in love with the “naming the property” gimmick that those two guys (Anthony Morris & the other one) put in each of their ads!!!! 🙂
Well, I think Shillstoner kind of has a point. Brownstoner tends to favorably cover houses related to this specific BHS broker (as someone pointed out with the Lefferts Place HOTD). Why is this sale, for $500K less than asking, so interesting that it’s featured as though it were a coup for the market?
Sam,
Saw this house. Also saw it featured on Openhouse NYC awhile back. It needed all new electrical, plumbing, and the kitchen was ancient. Gut. Bathrooms were in need of mucho work as well. We figured at least 600K would need to go in.
Touche, Shillstoner on the “if you don’t like it, leave it” reverse bitch slap. Nicely done, and agreed.
Yes, Shillstoner. This is a blog about real estate. If you don’t like it, don’t read it.
Now you are going to compare Cuba with Brownstoner?
Figures.
How about you go try to “change” something of more significance.
Oh, the Brownstone Owners speak!
I think that the “Biggest Sales” is fine IF it were balanced by the 6 Months Later posts or by regualar posts when previous HOTDs or Open House Picks go to contract. That balance would give a real picture of the market–what is selling, what isn’t selling, how close to asking listings are going for. That would make the site a “barometer.” But since Brownstoner only posts the biggest sales he is purposefully giving an overly rosy and positive view of the market. And of course this site has an impact on the market! As does all media coverage.
11217: Are your really using the “If you don’t like it, leave it” argument??? Please. Next you’ll tell me to ‘go back to Cuba’! We live in a domocracy–if you do not like the way something is run, you try to change it. Welcome to America!
Why did this need a complete renovation? The interiors look great. This is a very reasonable price for a beautiful house in the Heights. We see real dumps, on sketchy blocks, that have been cut up into SRO’s for 1.8 or so. I know this house has little or no rear yard, but still, it is in a great street.
This was a good buy.
Boy, the market is weakening.