HOTD: Does Not Compute on Union Street
We love it when a post writes itself. Here’s an email we got this weekend from a reader: I noticed two twin brownstones on Union Street currently on the market just four doors from one another: 891 Union and 899 Union. 891 Union (listed by Warren Lewis) looks to be a renovated two-family priced at…
We love it when a post writes itself. Here’s an email we got this weekend from a reader:
I noticed two twin brownstones on Union Street currently on the market just four doors from one another: 891 Union and 899 Union. 891 Union (listed by Warren Lewis) looks to be a renovated two-family priced at $2,450,000 while 899 Union (listed by Corcoran) is also a two-family but is unrenovated and tired but is priced at $2,750,000. Seems to me the listing agent at Corcoran should put down the crack pipe and try researching the comps before she prices. Who does she think she’s fooling when one can walk four doors down and save $300,000 (probably closer to $550,000 because the buyer of 899 will have to sink at least $200,000 into it)?
What’s this guy missing? Is there a rational explanation why the house in better condition is priced so much lower?
891 Union – #5122 [Warren Lewis] GMAP P*Shark
899 Union Street [Corcoran] GMAP P*Shark
500000 to renovate 150000 to 200000 for kitchens and baths, windows for 30000 HOly Crap Batman I need to find a new line of work in the contracting biz. On second thought I already did that Guess I was underbidding all my jobs. No wonder I never made any money…
if seller’s price listings then what is the real estate broker for? any GOOD agent will tell a seller that he/she will NOT list the property for a ridiculously high price. it is a waste of time for everyone. she should have turned the listing down PERIOD. it is better not to look to desperate and have your company, once again, look bad.
I am really tired of people blaming everything on crack and crack smoking.
yes agree with poster above seller price their properties!!!!
For the 99th time, sellers price their properties. You don’t know why this agent took this listing. Could be personal friend, etc.
OMG…I am the smug one now….It’s good, no, GREAT to have the know how to restore a place by myself. I have never spent over $150k for a proper, upscale (in my humble opinion) renovation/restoration. Damn, if contractors are getting that much, I must be in the wrong business.
$500K…what am I missing?
According to the listing, “The mechanicals and roof have all been updated recently”
Based on the pics on the site, I don’t see it. Now…I don’t believe that it should be selling for more than the WL listing, but gut reno???? Y’all have lost it.
The reason it will take $500,000 to make this livable is electric ($50,000 plus), kitchen and baths ($150,000-$200,000) floors and painting ($50,000), facade work $20,000.. Plumbing if original $50,000 plus… windows $30-$50,000 Remember unless you know a reasonable contractor, this is Park Slope. On average a gut renovation of a house such as the Corcoran listing costs approx. $150/sq ft or about $500,000
Mygosh – some of you must be so rich and have such high standards that you’d think it would take $500k to make the place ‘livable’. Surprised would even think of living on Union anyways – being 2way street and a bus line and all.
I’d love to see your places so I would know for sure what squalor I inhabit.