House of the Day: 126 Pacific Street
This four-family brick on Pacific Street in Cobble Hill has a lot going for it: location, size and charm, to be specific. Only a block south of Altantic, this stretch of Pacific is lined with beautiful homes. And at 25 feet wide and extra depth on the first two floors, there’s a lot more square…
This four-family brick on Pacific Street in Cobble Hill has a lot going for it: location, size and charm, to be specific. Only a block south of Altantic, this stretch of Pacific is lined with beautiful homes. And at 25 feet wide and extra depth on the first two floors, there’s a lot more square footage than a typical rowhouse. Despite being chopped up into a four family, it looks like the original details are largely intact. The asking price of $3 million seems prohibitive to a family buyer, especially given the additional cost of converting the house into a one- or two-family. Even a developer looking to sell floor-through condos is going to have a tough time clearing much of a profit at this price, isn’t he? See for yourself a week from Sunday at the open house.
126 Pacific Street [NY Times] GMAP P*Shark
if it was a 1 fam it’d be worth this, maybe even more. but as a 4 fam no brownstone outside of manhattan is worth it. 3-3.3 should be the finished 1 fam price, 2.5 for 4 fam if it doesn’t need more than a few months work and can be delivered vacant
I’m smoking crack right now and it seems like a really cool price to me.
3MM is the market people. If you think the seller is smoking crack you’re obviously not paying attention or you’re in a different market.
The comp on clinton is 3.25 — not sure if they’ll get it. I’d take that over this one any day.
I’d buy it for 2.1M. If it’s GORGEOUS inside, maybe 2.3. Maybe.
Pet peeve: Period light fixtures with improper bulbs. Flame bulbs are supposed to point up, not down. All wrong for that type of “down” fixture!
what animal lab?
actually, i think the parking is pretty good (after hours, anyway) because atlantic is right there. after commercial hours, the street clears out and there’s plenty of free parking.
I guess I call it ‘not a bad block’ because of the lack of street light at night. It just makes me feel like it’s dark and foreboding. That, and one block over between Court and Clinton is a bit rougher around the edges.
I’ve never liked this block because of the animal lab there. Who knows what’s going on in that place.