House of the Day: 591 Union Street
We totally have a crush on this funny little house at 591 Union Street in Gowanus. It’s not big and it doesn’t have a lot of old-school architectural detail, but it’s a charmer. The 60-foot front yard has huge possibilities and the old floorboards and exposed wood-beamed ceilings provide the building blocks of a very…
We totally have a crush on this funny little house at 591 Union Street in Gowanus. It’s not big and it doesn’t have a lot of old-school architectural detail, but it’s a charmer. The 60-foot front yard has huge possibilities and the old floorboards and exposed wood-beamed ceilings provide the building blocks of a very cool place. According to Property Shark, the house is only 1,000 square feet, but there’s tons of unused FAR if you wanted to add another floor or two. Anyway, in the right hands, this could be something special, IOHO. Thoughts?
591 Union Street [Aguayo & Huebener] GMAP P*Shark
I’ve always loved that little house but looks like it needs a big price chop. Right in the flood zone as well.
Hello folks,
we like this building but the location makes the pricing absolutely insane even as an “asking price”. We think $650K will be generous and that is taking the FAR into consideration.
Ms Muffet Aguayo & Huebener have always overpriced everything they sell this one just seems more pronounced with the economic crisis…
Come to think of it, I think that Center slope house being sold by A&H for 1.4 sold for 975 just BEFORE the current meltdown – which makes their pricing strategy all the more ludicrous. Are they just losing it?
I think it’s charming.
By the way, Aguayo & Huebener is currently indulging in shocking acts of overpricing. There is a house that just went up on their site that they have listed for 1.4 million. This house, which is 15′ wide and a TOTAL wreck (think “Grey Gardens” – that was vibe of family living there until very recently) just sold about a month or so ago for $975K cash after going on market for 950. It needs EVERYTHING redone – it’s basically a total gut job, a shell, and a dubious one if that since it was clearly so incredibly badly taken care of. For them to now turn around and re-price it for 1.4 million in this market is total insanity!! Yes, it’s Center Slope, but even that is not enough to justify such a ridiculous strategy. I am deeply skeptical of their pricing strategies if this is what they think makes sense. Clearly, their values are out of sync with current economic reality.
Wheres the broker who used to call this area “edgy”?
Probably not working any more…
this is just plain crazy. place needs lots of work. the psf price is ridiculous and the building is wierd.
I agree 800k is too much. But I still think it could appeal to some well-situated people (i.e., someone who’s not going to lose their job). Union street btw the canal and third is kind of fun – there is a nice old warehouse building that always has flowers growing in front of it, and it’s close to the subway. Again, some people like the urban wasteland vibe – I am not one of them, but I sent this listing to a friend who is crazy about Gowanus. around $4000 a month (which is what you would pay w/20% down and a 7% interest rate) probably would seem cheap to him since he’s renting a 2 bdrm in downtown nyc.
gkw – I’m fine with people liking whatever neighborhood they want to and don’t look down on people who like living in Gowanus. I actually think it’s a really interesting area to go walking in because of the strange mix of industrial and residential. Wouldn’t want to live there because I like having lots of restaurants, bars and stores around, but to each their own.
But $800k is a loooot of money. Yes, you’re buying based on the land’s potential more than on the house that’s there, but I’m unsure that the amount of time you have to wait (and pay interest) would make that the wisest investment ever. I actually think MM’s estimate of 10-15 years before Gowanus really picks up might be low. Until they clean up that canal, I have my doubts about its viability as a popular housing destination, even if they start rezoning big chunks of land.