HOTD: Love Lane Buyer, Wherefore Art Thou?
The seller of 43 Love Lane, a recently built carriage house in Brooklyn Heights, must either not really need to sell or be a little out of touch with reality. When we first highlighted the 2,400-square-foot property back in February, we expressed shock at the price tag of $3,500,000 and readers unanimously agreed that it…
The seller of 43 Love Lane, a recently built carriage house in Brooklyn Heights, must either not really need to sell or be a little out of touch with reality. When we first highlighted the 2,400-square-foot property back in February, we expressed shock at the price tag of $3,500,000 and readers unanimously agreed that it was way overpriced. So here we are five months later and the price has come down to $2,995,000. Unfortunately, we think it still has a ways to go. Even at $1,000 a foot (which, given the unremarkable interiors, isn’t a God-given right), you’re only looking at $2,400,000. Does that number sound about right to others?
43 Love Lane [Douglas Elliman] GMAP P*Shark
House of the Day: 43 Love Lane [Brownstoner]
I predict this sells for right around 1.8.
1. The owner is allegedly moving to the Plaza hotel so I don’t think they’re hurting for money. I guess they priced it high and hoped for buyer and will now drop it slowly until they get a bite.
2. Also, those mushrooms were put there to keep the 18 wheelers that used to unload at the D’Agastino’s from hitting the house (as they allegedly did once or twice).
3. No yard but there a decent roof deck.
4. Indeed, the garage is going condo. I suspect this has absolutely destroyed the ability for the owner to get a decent price. Considering that they’ve had it for some time their mortgage is probably pretty small. They should probably sit on it for 2 years and rent it out to cover the nut (and probably make a profit) until construction ends and then sell.
More precisely, 1:26, its “Romeo, why are you a Montague?”.
I seem to have read a recent spate of comments accusing Mr. B of (1) spending too much time on Clinton Hill (2) ignoring Clinton Hill while challenging other neighborhoods too much. Seems to be realtors who are upset at their monopoly of information being cracked (still waiting for multi-listing service in NYC, tho). Obviously if this property is still unsold it is overpriced. But then everything to me seems crazy numbers…
He/she has already dropped it by 15%.
I don’t think it’s Brownstoner’s opinion, I think it’s reality that is telling this seller to wake the eff up, condescending as that might seem.
2:50, it’s not “condescending” or “patronizing” to opine that an asking price is too high. you seem to have your own axe to grind here.
To GHB 2:43: Yes on both counts — Love Lane garages are going condo, and Brooklyn Heights parking is already bad enough. Once the open-air lots in Dumbo become construction sites (tick, tick, tick), some lucky owner will be trying to turn this fake garage into a real one. (Does anybody know if it has a curb cut under those funky mushroom bollards?)
parking in Brooklyn Heights is possibly the worst in the world. Once the Love Lane garage closes, if it hasn’t already, I think the problem will be such that it will impact on house prices. Don’t be surprised if Park Slope, Cobble Hill, Clinton Hill, etc. overtake Brooklyn Heights in terms of square foot costs very shortly. The neib has become very difficult to live in and if the Mayor gets his congestion pricing, hundreds of idiots will drive to Brooklyn Heights and cicle for hours to find a place to park so they do not have to pay to cross the bridge.
$3mm for a 2-story townhouse with no yard? mama mia!