House of the Day: 6 Grace Court Alley
Located on one of the most charming cul de sacs in town, this new listing at 6 Grace Court Alley is bound to attract plenty of attention. It’s a little tricky in its current configuration, though, unless you are in the parking business. Right now, there’s a three-bedroom, one-bathroom apartment on the second floor and…
Located on one of the most charming cul de sacs in town, this new listing at 6 Grace Court Alley is bound to attract plenty of attention. It’s a little tricky in its current configuration, though, unless you are in the parking business. Right now, there’s a three-bedroom, one-bathroom apartment on the second floor and a four-car garage on the first. The asking price of $2,700,000 is pretty tough based just on the apartment, so this is probably being teed up as a chance for someone to come along and put another million bucks into making it a larger, decked-out single family house with a single parking space. Or something like that.
6 Grace Court Alley [Brown Harris Stevens] GMAP P*Shark
That house (#20) had eliminated the garage space
This conversation is probably long dead but I will mention this anyway. Last year there was a post about another house on this block selling for around 2.9mm I think. I’m not sure how the size compares to this property but that price was for a fully renovated carriage house.
Will email you now
Biff, I’m fascinated. Do we see one another frequently or is it a very once in a while thing?
Want to end the suspense and just drop me an email at info AT flashlightworthy DOT com?
“BiffChampion, thanks for the kind words about my wife and me. Have we met?”
Yes. I’ll “out” myself next time I see you.
🙂
FlashlightWorthy, yes, there are only a few night owls here who post after, say, 5pm. Your home looks absolutely lovely and it is so nice to hear that you plan to stay the rest of your lives.
I just today drove past the Hick’s Street wood frame house they are working on and wondered about it. It’s on the “In Progress” page.
Looks like I missed the conversation, but as the owner of the “renovation up the street” a number of you cited, I wanted to say thank you for all the kind words.
For all of you doing math, indeed the math just doesn’t make sense — one pays a lot for a property on this street and then one pays a LOT to renovate. The numbers don’t make sense if you might have to move soon but for those who intend to spend the test of their lives here, as my wife and I do, whether it’s the most efficient use of our capital isn’t the point.
BiffChampion, thanks for the kind words about my wife and me. Have we met?
At 2.7 it’s not workable. You might be able to do a good renovation under 1mm too. That certainly would make it more attractive.
It has potential, but Noki and Northheights are onto something.
I am having a hard time getting my head around the price plus renovations given how much square footage we are talking. Upstairs it’s a little under 30×35 = 1025 sq feet. The extension is another 520 or so. If you keep at least part of the garage, this caps out at about 2100 square feet. (I am assuming there is no height to build up given the LPC.)
If the renovation pushes the price up to $3.5 million, then a buyer is talking almost $1,700 per square foot.
By comparison, the house that duckumu is talking about came in at under $1,100 per square foot after renovations (assuming it was a $1.5 million renovation, which is a hefty renovation bill). And of course, whatever price tag one puts on the the years of renovation troubles.