House of the Day: 74 Hicks Street
[nggallery id=”54117″ template=galleryview] The 25-foot-wide house at 74 Hicks Street just hit the market asking $6,500,000 and it’s a beauty. It’s clearly undergone a high-quality (and tasteful) renovation that preserved the old floorboards while spiffing up the kitchen and bathrooms. It’s currently configured as an owner’s triplex over a garden-level rental though with a price…
[nggallery id=”54117″ template=galleryview]
The 25-foot-wide house at 74 Hicks Street just hit the market asking $6,500,000 and it’s a beauty. It’s clearly undergone a high-quality (and tasteful) renovation that preserved the old floorboards while spiffing up the kitchen and bathrooms. It’s currently configured as an owner’s triplex over a garden-level rental though with a price tag like this it’s going to take more than a few thousand dollars of rental income to take the edge off that mortgage! As for the asking price, here’s where we stand: We’ve got absolutely no idea whether they’ll get it. Seems like a lot, but this is a fall-in-love-and-move-right-in situation so you never know.
74 Hicks Street [Douglas Elliman] GMAP P*Shark
$8-9M, a 5-floor mansion with an elevator. I’ll give you 2 examples, but there are more, of beautifully renovated townhouses in Manhattan for $6M or so:
On West 13th, 21-foot wide
http://www.elliman.com/new-york-city/manhattan/west-village/245-west-13-street/245-west-13-street/oqshxst
On Harrison St in Tribeca, one of the nicest blocks in the city:
http://streeteasy.com/nyc/sale/578630-house-27-harrison-street-tribeca-new-york
Sales re actually even more striking; prices are way down. Curbed had a post a few weeks back on a charming townhouse on the UES, asking $9.95M – final sale price: $4.8M.
Disregard – I see he pulled $32K off SE, with its vintage interest rate of 6.5%.
“there are a few townhouses under $8 million in those neighborhoods, but generally not this grand or fixed up. ”
Or not this large.
In Maly’s defense, there are a few townhouses under $8 million in those neighborhoods, but generally not this grand or fixed up.
(Although I do wish this listing had some more photos — an ideal location and a decent sized lot:
http://masseyknakal.com/listings/detail.aspx?lst=20334
Look at the NY Times “events” photos in the Society page. Those ladies at those functions are wearing dresses that cost anywhere from $9,000 to $50,000 each -and they can only be worn once. The Lebenthal heiress alone must spend a million dollars a year on ball gowns.
It is ridiculous.
thwackamole — What do you mean “rent control making it extremely un-advantageous to convert this to the historic 3-4 family setup”? Rent stabilization doesn’t apply unless there are at least 5 (or maybe 6) units in the building, and rent control doesn’t exist unless the tenant (or their predecessor in interest) was in the apartment back in 1970 or so.
It may be unfair that a conversion to a four family probably would not qualify for any tax breaks.
Ha! (and I was thinking: A MoJo issue dedicated to COMPOSTING? Really?)
Wait a minute. I have the latest issue of MOTHER EARTH NEWS.
Sorry.
Dittoburg just made me spit out my water.