House of the Day: 280 Carlton Brownstone Condos
We’re going to boldly predict that 2006 will be the year of the brownstone condo. Even with the slight easing in prices over recent months, the only way for anyone to make a quick buck on a brownstone now is to turn it into condos–which will often fetch a good 20% more on a per…
We’re going to boldly predict that 2006 will be the year of the brownstone condo. Even with the slight easing in prices over recent months, the only way for anyone to make a quick buck on a brownstone now is to turn it into condos–which will often fetch a good 20% more on a per square foot basis. This place at 280 Carlton is a good example. As far as we can tell, there are three units in building listed at a combined price of just over $2 million. As a single family, this probably would only fetch around, what, $1.7 million? It sold last July for $1.325 million and, if it’s the house we’re thinking of, it was in decent shape at the time. If the buyer put in another, say, $100 a foot, her cost would be a little under $1.7 million. That $300,000 spread is not a bad year’s work for a small-time developer–though mortgage costs would have eaten up another $50,000 or so in the meantime. Do our guesstimates sound about right?
280 Carlton Avenue #1 [Corcoran] GMAP
280 Carlton Avenue #3 [Corcoran]
280 Carlton Avenue #4 [Corcoran]
this property is insanely overpriced. is it even that nice? that said all of us b’stone owners would love them to get these numbers. but dream on folks. i wish they had more pictures or something on their website.
I just tried to link over to the BH listings someone mentioned–could not find anything at all with Elliman and the Corcoran listing is $100,000 more than the most expensive here with a whopping $1000+ maintenance. Would love to see what you were seeing….makes FG look like a bargain!
I just tried to link over to the BH listings someone mentioned–could not find anything at all with Elliman and the Corcoran listing is $100,000 with a whopping $1000+ maintenance. Would love to see what you were seeing….makes FG look like a bargain!
Anon @ 2:47, those are new home sales. Existing home sales, released yesterday (larger and mroe accurate sample) is much more relevant and it definitely showed a slowdown.
I’d love to take the credit, but they were posted by Anon 4:06.
Clinton Hillbilly–thanks for posting those BH listings.
In my search saga I haven’t seen any decent two bedroom for less than $599 in a neighborhood I’d really want to live in, and these places all have what looks like big outdoor space. Will be curious to see them at the open house.
there are condos on Adams and Bridge (dumbo) in this range.
Hillbilly and Shahahan or whatever are clueless. If some idiot trys to sell a flea bag, 750 square foot 5th floor walk-up on 19th street and 3rd Avenue in Brooklyn for $7.5 million and it does not sell – that does not mean or prove that “prices have come down”. It just means the seller is smoking crack. Shahabable – you prove your ignorance by thinking that brokers can keep this market afloat by posting New York Times artlicles on this blog. Its supply and damand that will keep this market afloat, not some loser broker.