House of the Day: 10 Pierrepont Street
This seems like a no-brainer. Prime Brooklyn Heights for $650 a foot? What gives? So the house is only 19 feet wide, but it’s 66 feet deep and has one of the more stately facades around. For this kind of dough you’d think the brokers would have mustered more than three photos though. Makes you…
This seems like a no-brainer. Prime Brooklyn Heights for $650 a foot? What gives? So the house is only 19 feet wide, but it’s 66 feet deep and has one of the more stately facades around. For this kind of dough you’d think the brokers would have mustered more than three photos though. Makes you wonder whether there’s some catch. So why isn’t the price at least a million dollars higher? The market’s not this weak is it?
10 Pierrepont Street [Corcoran] GMAP P*Shark
The reason this house is priced the way it is is because there is a rent control (not stabilized) tenant in the garden apt. To make matters worse, they have exclusive use of the garden (which, by the way, is very dark).
Disagree that this house is not in a prime location. If I could, I’d pick up my house and move it there. Don’t know about the price, even with this market softer everything gives me sticker shock. Doesn’t seem like this house has a garden though. That’s a negative. A roof deck is nice, but would want a garden at that price point.
This price DOES seem low considering some of the prices paid in the last year or so. A substantially smaller house with lesser quality renovation on Garden Place was on the market 14 months ago at that price. And I think a much smaller house on the bottom of Joralemon.
Agreed the back yard may be dark, even though it’s South-facing, because of the encroaching buildings and it’s a deepish building so some of the center rooms may be dark as well.
On the other hand, it’s a very short half-block from a great playground, an always-idling ice cream truck, and the promenade.
As far as views fro ma roof deck, the deck would only have ot be set back maybe 5 feet for the 42 inch tall railing to be hidden from the street — it could easily have good skyline views from up there, especially considering that the buildings to the NW are brownstones, not tall buildings (or would 1 Pierrepont Place block most the view?)
Lastly, that Jay Schippers must be one well-off dude. He owns about a half-dozen sponsor apartments in 187 Hicks St. I doubt the rent controlled rent he’s getting is covering the maintenace he has to pay right now, but they’ll each sell for $500k or more.
Could be that property suffers from poor light and air. A 12 story co-op abuts rear (south) property line and another 12 story bldg is located to its west 2 or 3 lots over.
Or it could be a foretelling of what is yet to come, market wise that is. Owner, Jay Schippers, is former head of new develoment at Corcoran. Maybe he knows something the rest of us don’t.
Also, broker mentions that roof is “deck” ready, or something to that effect. Due to stringent landmark laws probably unlikely that deck would give you any harbor views as it would need to be located near rear of bldg so as not to be visible from the street.
All BH is not equal – not being on the Promenade is a big deal and I think high 3s is a reach.