Schloss Connelly In Contract
Several readers have written over the last couple of days to draw our attention to the fact that 17 Prospect Park West, the 5,200-square-foot immaculate mansion owned by the actors Jennifer Connelly and Paul Bettany, is listed on the Sotheby’s website as being under contract. That, in itself, is no huge surprise—it’s gotta be one…
Several readers have written over the last couple of days to draw our attention to the fact that 17 Prospect Park West, the 5,200-square-foot immaculate mansion owned by the actors Jennifer Connelly and Paul Bettany, is listed on the Sotheby’s website as being under contract. That, in itself, is no huge surprise—it’s gotta be one of the nicest houses in the borough. The bigger question is what the contract price was. One of the tipsters said she’d heard that it went for the asking price of $8,500,000. Any little birdies know the scoop?
17 Prospect Park West [Sotheby’s] GMAP P*Shark
Connelly, Bettany Dumping 17 Prospect Park West [Brownstoner]
we looked at the berkeley houses. they are on a beautiful stretch on a nearly perfect block. they did need substantial work, but i agree that they were a good bargain since we’ve seen a couple houses like this in other less desirable areas (with stabilized tenants) for quite a bit more than they were asking. we literally missed bidding on one by a day.
not meant to be…
Yes, they did have stabilized tenants. It’s my understanding that a few have been bought out, as I’ve already seen moving trucks in front of those houses.
I still think they were a good deal regardless.
The margin for profit is extremely high. If you spent 500k to buy them out and another 500K on the renovation, you still stood to make a million dollars.
In this market, that’s pretty darn good with probably little appreciation going to happen in the next 5 years…
I didn’t intentionally leave that info out.
Thanks 4.25.
3.05 … shame on you for not mentioning the stabilized tenants … that explains it.
3:40, what house do you mean with a “significant discount off the market price”?
3:05–yes, you have been talking about those houses for a while now. What you never say is that they were chopped up into 8-10 units and had stabilized tenants. Even the Prudential listing made this explicit. So, please, stop with the hyperbole.
Too funny that no one has taken the bait after 2 anonymous references to the house having been purchased by a “power lesbian couple”.
Regarding the Prospect Place house now in contract, what’s unusual to me is to see a really significant discount off the market price for a house of this size, with this much detail, in this location. In recent years, “estate” condition houses or handy-man specials, have not been priced sufficiently under market to be attractive to most buyers. After the cost of renovation, most buyers end up spending more than they would have for a house in good condition. This house sold so fast because it was priced to reflect the cost of a top-flight renovation on top of the purchase price. This could one ofn the silver linings of the falling RE market.
“Why would the owners sell for such a low price?”
There was an elderly guy who owned 3 brownstones on Berkeley Place between 7th and 8th. He recently passed away and the wife or ex wife needed to unload them fast. They were listed with Prudential, but literally were gone within days. I posted the info about them a while back and no one seemed interested.
In my opinion, they were incredible deals. They need TONS of work, but even if you sunk a million into each one, they are easily worth 3 million (one gorgeous one on Berkeley sold for 3.4 million this past year if you recall).
There is one more (193) Berkeley which they are holding onto, I believe…
If I had the money, I would have bought one in a heartbeat. You can’t even get a shell in Harlem for a million bucks anymore!!!!
12:39 – “There were two houses on Berkeley Place which we were interested in when the owner died this past year. They had contracts on them within a day and we were really disappointed to have missed them. Especially considering the asking price of 1.1 million and 1 million.”
WTF?!?!
Two park slope HOUSES for 1 and 1.1? Is this true?
Why would the owners sell for such a low price?
most beautiful house in brooklyn.
good for them.