A Couple of Houses Reduced on Dean Street
Two houses on Dean Street had their asking prices reduced in the last few days. The two-family house with a storefront at 190 Dean Street hit the market in February (when it was a House of the Day) with a price tag of $1,600,000 and was reduced to $1,495,000 this week. Meanwhile, the two-family at…
Two houses on Dean Street had their asking prices reduced in the last few days. The two-family house with a storefront at 190 Dean Street hit the market in February (when it was a House of the Day) with a price tag of $1,600,000 and was reduced to $1,495,000 this week. Meanwhile, the two-family at 425 Dean Street, that was an Open House Pick in October at $1,425,000 before getting pulled off the market, has been re-listed at $1,275,000 and is having an open house on Sunday from 2:30 to 4. Thoughts?
190 Dean Street [Corcoran] GMAP P*Shark
425 Dean Street [Brown Harris Stevens] GMAP P*Shark
I used to live across the street from 190 Dean when it was a bodega. Ali, Mohammad and Mohammad used to hook up the best sandwiches… Damn I miss those days.
190 dean, if around 1M, is an interesting (close to compelling) buy. Not cheap but certainly cheaper (ie keep 1 flr for self, rent out other 2 flrs & at least 1 of the garage spot) than buying a 2 bdrm coop / condo. Parking in that area will only get worst as more & more hi-rise bldgs are built in that area so those parking spots will prove to be very valuable.
while I daydream about buying a $1M ppty, need to hit at least 2nd place drawing on LOTTO
190 Dean has a great location, but not much else going for it without extensive renovation, including a bridge to the garage roofs, to give some outdoor space. When it was last posted, I thought the concensus was that the commercial space can no longer be used for a commercial space?
425 Dean is in a terrible location, and the layout is odd, to say the least. What’s with the music room? The picture shows a subbasement floor, but not the floorplan. What’s up with that?
190 Dean at $1 mil would be genius.
At $1 mil I’d try to buy it just for the parking…
I would never live in it, just rent it out, but figure $2k a month for each floor and $250 a month for 2 spots (keep one for myself) that would be $6500 a month in. The building would probably cost about that much with financing, expenses, etc and you’d get the write off and parking as a bonus.
At $1 million it’s a pretty solid long term hold for someone already in the are. In my opinion.
The 3-car garage on the corner property is certainly enticing. The big ol’storefront though is kind of scary if it is part of your home. I suppose the best thing would be to live upstairs and rent out the first floor to a commercial tenant. A CPA or insurance office or something like that. It would also make a nice architect’s office (with the family home above). But architects certainly have no money at this point.
Ridiculous, yes, but surprising, no. If they’re asking 1M+ for a modest house in LFG (cf. last week’s HOD) then these with supposed rental income (a 3 car garage, oh my!) are priced to sell. Who is buy, who is pricing, is what I want to know.
I have a feeling Dave is right and 10% or less is not going to make it happen here. But I suppose it is an incremental step. Perhaps the first of several. No one really knows yet where the market is. It is lost in the woods without a cell phone.
They are not significant in the least…6.5% and 10.5% ??? No curb appeal is right. A realistic seller needs to understand that when he doesn’t get any offers that are close then 10% or less aint’t gonna make it happen!!!!
These are pretty significant price cuts, although these buildings are still only affordable to a very select and priviliged few. The question is will those few chose to live above a storefront? Will they chose Manhattan instead?
Who knows? Neither property has much curb appeal.