House of the Day: 535 1st Street
It seems to us that much of the anecdotal evidence for a cooling townhouse market has come on the lower half of the spectrum, though that could be more of a function of us paying more attention to the sub-$2 million homes. Anyway, if anyone thought that the higher-end props were immune, think again: This…
It seems to us that much of the anecdotal evidence for a cooling townhouse market has come on the lower half of the spectrum, though that could be more of a function of us paying more attention to the sub-$2 million homes. Anyway, if anyone thought that the higher-end props were immune, think again: This price on this house at 535 1st Street in Park Slope has just gotten an almost 15% percent haircut from the stylists over at Corcoran. Located just off 8th Avenue, the 4,500-square-foot Beaux Arts mansion’s got seven bedrooms and architectural details out the wazoo. We can’t recall how long this has been on the market, but it shows that wealthier buyers (for Brooklyn, anyway) are being more choosey.
535 1st Street [Corcoran] GMAP P*Shark
does not matter if i can spell or not, that’ what they have spell check for.
7 bedrooms, but look at the size of the two on the top floor. Barely big enough to put a bed in, (check out that Corcoran arrange you furniture tool). For over 3 million, wouldn’t you want bigger bedrooms?
Yes all the wood work fireplaces and big windows are swoon worthy, but it just doesn’t feel $3 mil. Does it have new electric and plumbing, central air, etc.
If this house was priced at $2.7 or $2.8 mil. it will sell.. It is still overpriced. The poor people who live there need to clean it up, have Greg’s Express come in remove the rubbish, paint a bit. The market above $3mil. for a fixer upper is dead. The living room is small for a grand house and the mechanicals need an overhaul. If you are a contractor you can do the work for $500K, anyone else figure around $750K.
Ron,
It’s a good thing you don’t need to know how to spell in order to buy (or not buy in this case) real estate.
I would like to let everyone out there know the market has come down a lot weather or not you believe it that is up to you. From May to the begining of August i searched for a a 2 to for family home in the areas we all love. I was watching sellers come down hundreds of thousand on there prices . I put in a few offers and i had accepted offers, but i could not pull the trigger knowing that my investment might be worth less the day after i obtained it. I think the market will continue to go lower and then straighten itself out. Also every house that i bid on is still for sale as of yesterday.
Anon at 12:41 – ha! We’re talking about Park Slope here – where do the struggling artists come in? However, I for one never realized that traders were working long hours solely for the long term benefit of their fellow man. Thank you for opening my eyes to charitable desires of traders!
On a more serious note, the house is beautiful. Funny, but in speaking with my broker yesterday, she stated that the over 2 million market in the town in Southern Westchester where she works is the only area still moving (confirming that the lower end was dead), even to the tune of a few bidding wars. It’s a different market to be sure, but strange how the high end is moving in one area and dropping in another.
why all the animosity against traders and i-bankers? is it just envy? do you resent people who work very hard (100 hour weeks for years) to be able to afford a beautiful brownstone. Someone has got to make the money to support artists and keep beautiful neighborhoods beautiful. Struggling artists made a choice to do what they loved and forgo material riches in exchange for spiritual ones…who are we to criticize others who chose the other path?
why was my intial comment removed?
hahah @ hard stolen, I think I was the one who started that argument… which is why I knew it looked familiar!