HOTD: A Screaming Good Buy in Clinton Hill
After all the heat that is given to Corcoran for overpricing, it’s refreshing to see a listing that we think will sell within days because it is so attractively priced. Unless there’s some undisclosed catch (like an SRO tenant camped out on the Parlor floor), this 4-story, 2-family limestone on Willoughby between Clinton and Waverly…
After all the heat that is given to Corcoran for overpricing, it’s refreshing to see a listing that we think will sell within days because it is so attractively priced. Unless there’s some undisclosed catch (like an SRO tenant camped out on the Parlor floor), this 4-story, 2-family limestone on Willoughby between Clinton and Waverly looks like a screaming buy to us at $1,325,000. Although there are some finish details we don’t love (like the kitchen), the house appears to be in excellent shape with a surfeit of original woodwork and flooring. The garden is also unusually nice for the neighborhood. Frankly, we’re surprised the price tag on this isn’t higher. Maybe broker Rodolfo Lucchese is heeding Barbara Corcoran’s recently revealed advice to underprice a property in order to generate a huge wave of interest and thus a bidding war. If that’s the case, mission accomplished. As we said, we bet this place will be gone by the weekend.
Addendum: It has been brought to our attention that this property is only 17-feet wide, which does moderate our initial enthusiasm somewhat. Still looks like a very nice place though.
116 Willoughby [Corcoran]
lol. i live in an apartment in the ugly clinton hill coops. no its not a brownstone which i can’t afford. but its a decently priced 2 bedroom apartment with nice views of manhattan and brooklyn…
gee – I live in a 16.5ft wide house – I must be really down on the totem pole on everyones list.
Granted the living room is narrow in the Willoughby house – but looking at layout in owners triplex none others seem diminutive.
Anyway you look at it, $1,325,000 should get you at a minimum, a garage, a very large house (not 17 feet wide), perhaps a couple of acres of land, etc. New Yorkers are so silly. We somehow can justify living next door to the slums, projects, drug clinics, etc. We think its “cool.” I think it’s stupid. Realtors love using phrases like “a diamond in the rough,†“an up and coming area,†“trendy,†“make it yours,†etc. and we, like idiots buy it! A New Yorker is a marketers dream. Come on, please wake up! “A good buy in Clinton Hillâ€? Really?
The thing is, it’s 17 feet, but it has that wall between the stairway and the main rooms, so the rooms seem real narrow. And it has such lovely details, that you wouldn’t want to change it. I’d rather have a 17 foot brownstone that’s a complete wreck, so I could get rid of those walls. Try picturing a couch and a TV in that living room..
I believe Corcoran most of the time puts prices higher to 1 get the listing 2 to get there commission. But in the end the seller has the finally say as to what they want to ask, and maybe this seller needs to sell and is pricing it to sell, not everyone has the luxury of waiting weeks to sell there home. Another smart move this seller is doing is pricing it to get buyers in the door.
are we talking about the clinton hill co-ops? they aren’t THAT bad looking… am I missing something here? we were recently outbid on an apartment there (…because we can’t compete with the rich Manhattan exiles…just kidding, but not really)
From an insiders perspective….you should go easy on the seemingly conventional wisdom that Corcoran overprices (or any other broker). An overpriced property is one that does not sell at the asking price and has to be reduced to find a buyer. If one person (that’s all it takes) pays the ask then the property is priced just right.
When it’s Brownstoner’s turn to sell his labor of love you can bet he is not going to give it away. If these properties that are always labeled as insanely overpriced didn’t sell….well then they would be insanely overpriced, and the market would correct them. Let’s just call it what is really is, just plain expensive. The broker’s number one job is to get the best price for his seller, is it their fault that that price is really high? And keep in mind this, from someone that has been to many closings……all of the parties walk away happy, the seller got what he wanted (at least in the last 5 years) and the buyer did too.
myGosh – looks like pretty green grass lawn in yard also!
Sorry, Anon!
Pretty sure it is a co-op across the street though it does bear a striking resemblance to a housing project. One benefit is that the co-op has its own private security patrol, so the immediate area should be relatively safe.