House of the Day: Round 3 for Cambridge Mansion
We’re not sure whether the owners of 86 Cambridge can’t make up their minds or whether they just keep over-pricing their 7,000-square-foot house, but either way we’re starting to get a bad case of real estate whiplash. This is the third time in the last couple of years that this place has been on the…
We’re not sure whether the owners of 86 Cambridge can’t make up their minds or whether they just keep over-pricing their 7,000-square-foot house, but either way we’re starting to get a bad case of real estate whiplash. This is the third time in the last couple of years that this place has been on the market. Given other prices in the area, $2.3 million wouldn’t seem to be crazy (or is it?), especially given the double-wide garden plus garage, but as we mentioned last time around, some questionable layout decisions and the extent of repairs needed are clearly holding the house back. These pictures look pretty good though. Any bets on whether this sells this time around?
86 Cambridge #H86 [Aguayo & Huebener] GMAP
Rambling Vic in Clinton Hill [Brownstoner]
Wait…wait…wait…wait…it wouldn’t go for 1.6 pre-credit crunch but now demands 2.3 because of a Home Depot kit???
I say 1 to 1.6 moves it. It is unique and does have a garage and there are buyers out there who have no clue and/or concern about all the bad economic data out there.
I lived their for years.
The owner took terrible care of the place, the roof leaked for years all the way through to the first floor so the floors are buckled. The house is dramatically sloped (you can’t sit on a chair with wheels without moving across the house), the porch is falling off and dragging the house with it, and one of the columns is completely rotted.
And don’t get me started on the heating, a new system will need to be installed, right now the heating system is wrapped in plastic and plugs into the wall.
Finally, the owner is greedy enough so that there is a judgment against him for a security deposit that he tried to keep that will keep a sale from going through.
He is a bad man. No one in the world should give him 2 million dollars, and the house is worth a million at best, I bet there is at least a million dollars more work to put in it to make it nice.
I lived their for years.
The owner took terrible care of the place, the roof leaked for years all the way through to the first floor so the floors are buckled. The house is dramatically sloped (you can’t sit on a chair with wheels without moving across the house), the porch is falling off and dragging the house with it, and one of the columns is completely rotted.
And don’t get me started on the heating, a new system will need to be installed, right now the heating system is wrapped in plastic and plugs into the wall.
Finally, the owner is greedy enough so that there is a judgment against him for a security deposit that he tried to keep that will keep a sale from going through.
He is a bad man. No one in the world should give him 2 million dollars, and the house is worth a million at best, I bet there is at least a million dollars more work to put in it to make it nice.
This house would make a great B&B. More than enough room to live in, rent rooms and two 2 b/r units with kitchen in the attached house at the back. You could easily squeeze another b/r in there if you eliminated one living room. There are not enough B&B’s in Bklyn and the ones that are here go for upwards of $150 / night. Wish I could afford to do it! Maybe I should sell my house and go for it!
From everything folks are describing, sounds like it would take a lot more than $150K-$200K to fix and undo all the things that would make this house worth-it to someone with +$2mm to spend.
Plus, nobody’s really described the location yet.
I walk by this house all the time on my way to the clean-rite and I feel sad for the house because it could be great with some tlc–like maybe $200,000 worth of it! Unfortunately, no one will buy it at this price. The roof needs some work, too, which I can even see just walking by.
Aaron Canton,
Stay in the slope.
why would ah take the listing. talk about greedy and desperate!
True, it’s a fixer upper but it’s also 7000 sq. ft. This is under $330 a ft which isn’t too crazy. I agree that there is a limited pool of buyers who are looking for a 7000 sq ft fixer upper but I wouldn’t be surprised if a developer takes it and converts it.