HOTD: Another Washington Avenue Classic
People couldn’t seem to agree whether yesterday’s House of the Day at 241 Washington Avenue was a decent deal at $1,789,000. Since real estate is relative, we thought it would be useful to look at a similar house just down the block at 298 Washington that Corcoran has on the market for $1,695,000. The listing…
People couldn’t seem to agree whether yesterday’s House of the Day at 241 Washington Avenue was a decent deal at $1,789,000. Since real estate is relative, we thought it would be useful to look at a similar house just down the block at 298 Washington that Corcoran has on the market for $1,695,000. The listing is a little thin on the photos and description so it’s hard to make too detailed a comparison, but our guess is that these places are pretty similar. The interesting thing to note about this place is that it has had very few owners over the last century and change. (We heard only three families have lived there.) This is generally a big positive when it comes to the preservation of details and not such a great thing when it comes to modern upgrades. From the few pictures on the site, we’d say the historical character of the house looks intact. What we really need is to hear from someone who’s been inside both places recently. NB: Some new photos have been added to the listing and above.
298 Washington Avenue [Corcoran] GMAP P*Shark
Better check your stats on Manhattan median income. That $90K per cap median income is for upper east side of manhattan not the whole borough.
(about 1/2 of that).
The sad thing about this argument is that there are dozens of us posting about how we can’t afford 2mm brownstones but the fact is there are so few of these properties available at any one time that all it takes is one of those above-mentioned wealthy professionals to snap it up. You’re talking about such a relatively small number of purchases throughout a whole year that it makes perfect sense that there are a lucky (very) few who can afford them.
Yikes, this is a good endorsement for the FSBO site on brownstoner. If noone here can buy anything..methinks the readership is poor. Uh oh.
You’ve got to be kidding, people. Don’t you realize the median income in Manhattan is $90,000. Per person. That’s $180,000 for a two income household. That’s the median. The median person does not buy a $2MM brownstone. Try multiplying that number a few times. And if you think investment bankers make that much, you’re really crazy. Maybe vps, but Directors earn much more, and MDs into the seven figures. $90,000 a year is nothing. What do you people do for a living.
What kind of bla bla bla is this ???? now for a 1.7 M price tag you are asking yourself, what kind of people, who’s buying……
what about those houses that they sell for over 2M ???
This hood has changed, this is Brooklyn not the ghetto anymore and yes those people are Lawyers, Doctors and professionals that as a famyly they bring home at least 250K this is the reality, live with it!
Guys, this should be obvious but I guess it needs to be spelled out.
Plenty of people are moving to this kind of place from another property that they made a big profit on during the last few years. . .
A friend of mine is trying to sell his magnicent FG brownstone for around 2. We talked the other day. He looked at it this way if the buyer puts down half a million cash money, that should cut out a few people, and gets the balance of 1.5 mil for 6% that leaves about 90,000/yr in interest before paying the thing down over thirty years. Just the 90 by itself leaves about $7,500 before you even start really buying it. How many people are there with that kind of scratch?
I also prefer the single family house. Would rather have a smaller single family house than a lerger two-family(triplex + rental). Figuring a rental apratment can carry about $300K worth of mortgage, I’d rather have a $1.5 million single family than a $1.8 million two-family.
yes, I’d like to know who these people are who talk about buying 2 mil dollar homes like a new car. and a very expensive car. no benz or BMW will do. we’re talking Rolls Royce and Ferrari’s.