House of the Day: 55 Dean Street
This townhouse at 55 Dean Street hit the market last Fall with an asking price of $2,100,000 but was quickly reduced to the current ask of $1,900,000. The exterior of the house is beautiful and is part of a row of similar brick houses (and just a couple of lots over from the selling-like-hotcakes development…
This townhouse at 55 Dean Street hit the market last Fall with an asking price of $2,100,000 but was quickly reduced to the current ask of $1,900,000. The exterior of the house is beautiful and is part of a row of similar brick houses (and just a couple of lots over from the selling-like-hotcakes development at 47 Dean). The interior is mixed: The listing shows one room with beautiful original moldings but some of the other rooms don’t have nearly as much charm. That’s probably why the price begins with a 1 instead of a 2. Thoughts on what this will end up going for?
55 Dean Street [Halstead] GMAP P*Shark
looks like whitebread ala the 1980’s
This house cannot be compared to 142 Dean.
This is an OK sized house that needs a lot of work — probably mostly cosmetic, but maybe more. If this were on the other side of the street (i.e., without tenements looming over its back, making the north facing garden even darker than usual), it would be a good deal under $1.9 million. As it is, it will go quickly if the owners are willing to take a another 12-15% haircut.
Petebklyn – I agree. This is what I shared with my clients and readers last month:
“The suggested alternative scenario is a conversion to an owner’s triplex—but that would be costly and push your all-in investment over $2.5 million, or $825 per square foot.”
142 is 25-foot wide, there’s definitely a premium for that.
fixed as triplex over garden rental – with a/c and fancy baths etc – would be closer to $2.5.
which is what 142 is looking for.
Pete, my point is that the building is set-up like an investment property, with the poor finishes, but is valued more as a trophy-to-be. If it were all set up as a triplex over rental with the zoned AC and fancy baths/kitchens, it would be worth $2.1 or $2.2. I think it will take about $450,000 to redo the interiors in a fancy, master-of-the-universe-style, so the asking is too rich.
on the market off the market on the market-same thing as been for sale…..If you walked up to owner or broker in that time sure you’d have made a deal.
I walked through this property back in November. A buyer client of mine is interested but not at this asking price. Building looks and feels structurally sound and is well maintained, but lacks in original detail.
l42 listing expired 8 months ago and was re-listed yesterday at a lower price with a new broker. HAS NOT BEEN FOR SALE SINCE LAST JUNE.