HOTD: How Low Can the Pfizer Mansion Go?
The Pfizer mansion at 280 Washington Avenue has been on and off the market and all over the price map for almost two years now. The 12,000-square-foot mansion, which is dripping with restored period detail (a little over the top in come cases), started at $3,595,000 in January 2005 before going off the market a…
The Pfizer mansion at 280 Washington Avenue has been on and off the market and all over the price map for almost two years now. The 12,000-square-foot mansion, which is dripping with restored period detail (a little over the top in come cases), started at $3,595,000 in January 2005 before going off the market a few months later; then in February of this year, it burst back onto the scene at $3,995,000, only to be reduced a few months later to $3,695,000. And now last week it dropped by almost another 10% to $3,399,000. Where does it stop? As we’ve said before, it’s not very expensive on a per square foot basis. There just aren’t a lot of buyers looking to drop more than $3 mil on a place in Clinton Hill just yet.
280 Washington Avenue [Corcoran] GMAP P*Shark
House of the Day: 280 Washington Avenue [Brownstoner]
Pfizer Mansion Hitting Market [Brownstoner]
It was built by the Pfizer family. 280 Washington and 282 Washington originally share one kitchen and one set of servants on the bottom floor. Which is why there isn’t a proper kitchen.
I lived in the building in the early 90’s, they rented the top 2 floors to Pratt Students then.
The place has been meticulously renovated by the owner, but it didn’t take 20 years, only about 15. The Catholic church owned it up until the ’90s, so it needed a lot of work. The details in the building are unbelievable.
It’s a very special property. It shouldn’t fall into the hands of a developer. And, as crazy as the owner may be, it’s good that someone took an interest in restoring the building.
agreed, both I believe were built for the Pfizer family with one of them for a daughter. btw, 282 was a gut job SRO with students in various rooms. The kitchen was basically in the dungeon of a basement and was completely commercial. Remind me again how much it would cost to renovate 12,000 square feet back to all of its glory? I think you’ll find 1.525 was expensive.
280 Washington never belonged to Pratt.
It belonged to Pfizer family.
Corcoran, as most of the time, does not know what they are talking about.
Sounds like my kinda guy.
lol@ naked listening to Rachmaninoff. while no one can deny this is a special house that was beautifully constructed the inside is over the top it looks creepy to some extent who lives like this? how can someone realistically maintain all this velvetine furniture, stained glass and a billion chandeliers?
Why do you feel so much for the owner? Charles Davis, the owner of record @ 280 Washington, also owned the building next door @ 282 Washington. Mr. Davis had no problem selling this property for $1.525 million on 1/7/04.
What make him think 280 Washington is twice as much as as 282 Washington? Has the market doubled in 2 years?
High-End Bed&Breakfast is my thought on the highest and best in this case. Personally I would like to see it remain as a one family, but realistically I think a B&B may be the only way to make it work at this price level.
I don’t know if the seller is a freak for wanting to sell to someone who will not chop the place up. Maybe not the most realistic in terms of the market for a massive single family mansion, but not necessarily a freak. Probably loves the place and would like new owners who do to. I can feel for him/her. Tough predicament…
“The building next door, 266 Washington Ave, recently sold for $20 million. http://brownstoner.com/brownstoner/archives/2006/11/266_washington.html
With 13,000 sf of unused FAR, this is likely to become a construction site in the near future”
Not sure how useful it is to compare a multi-story apartment building to a single family brownstone. Also, isn’t the Pratt mansion landmarked? I would think that this would limit how much of a “construction site” the place can become.
Like the previous posted said – this special house requires a special buyer.