360 Grand Loses The Blue
We were pretty excited when 360 Grand Avenue finally went into contract in August 2009 after about eight months on the market. The asking price had been $699,000 but the widget predicted a selling price of $587,392. It turns out that, for once, the widget overestimated: The actual selling price was $525,000. Now, even more…
We were pretty excited when 360 Grand Avenue finally went into contract in August 2009 after about eight months on the market. The asking price had been $699,000 but the widget predicted a selling price of $587,392. It turns out that, for once, the widget overestimated: The actual selling price was $525,000. Now, even more exciting, is the news that the house’s signature blue siding has come down, courtesy of the new owner, who’s an architect. Good stuff!
360 Grand Avenue Goes Into Contract [Brownstoner] GMAP
“we’re talking about it as relative to alternative ppties and prices at time of purchase”
I know, m4l. I just can’t get the future out of the background.
***Bid half off peak comps***
DH – I know, I know. I’ll probably get cyberlynched.
Tybur, that’s brownstoner blasphemy!!
tybur, that’s what I LOVE the row houses in San Francisco. Many of them are painted outrageous colors and they look wonderful.
Full disclosure, I am also a huge fan of the pink house on Garfield Place. Suck it!
I don’t care about the price… but I take exception to the idea that a row house can’t stick out. (“Good stuff!”)
I’m not saying the old siding looked great (per google maps), but it gave the house some character. When this architect is done, I’m sure this place will just be another boring house in this boring sea of brown.
These aren’t rows of opulent or even interesting Victorian brownstones with lots of amazing details… these are utilitarian rowhouses. If these houses (or even a few) were painted different colors or clad with fun materials, I bet the street would look awesome!
BHO, 525k “IS” a good price. we’re talking about it as relative to alternative ppties and prices at time of purchase. A POS small 2 bdrm condo in that area cost over 525k. relative to that ridiculous price, 525k for this is a good price
$525K was good for the sellers. Prime Clinton Hill brownstone 20-footers, average configuration and condition, will bottom @ no more than $750K. This off-prime one, 13/20 (width) x 3/4 (no cellar) x 750 = $366K. Credit/money supply will continue to contract and interest rates will return near 8%. Perhaps too cruel a discount for lack of cellar but the generousity of a prime comparison evens it out.
This is not the most desireable of brownstone designs and therefore commands no premium. Not that it can’t be beautiful, I’m just discussing price and value.
“Is it possible, or even likely, that under that siding is a facade similar to it’s neighbors? Just curious.” – By InsertSnappyNameHere on August 10, 2009 11:38 AM
Well there you have it, Snappy. wasder was right.
“What are you using as the peak comp for this house, BHO, so we can measure where this house falls when we learn the price?” – By slopefarm on August 10, 2009 12:30 PM
Twice $366K = $732K, slopefarm. Consistent with the likely comp mentioned by more4less on August 10, 2009 12:32 PM, $699K in 2006 (slightly shy of the peak).
***Bid half off peak comps***
525k is a pretty good price