House of the Day: 26 Willow Street
There’s lots to choose from if you are a deep-pocketed buyer with a hankering for a house on Willow Street. Back in December, 69 Willow Street ($5,750,000) was a House of the Day, followed by 46 Willow Street ($4,000,000) and 47 Willow Street ($2,400,000) in February. And of course, there’s the mother of them all,…
There’s lots to choose from if you are a deep-pocketed buyer with a hankering for a house on Willow Street. Back in December, 69 Willow Street ($5,750,000) was a House of the Day, followed by 46 Willow Street ($4,000,000) and 47 Willow Street ($2,400,000) in February. And of course, there’s the mother of them all, Truman Capote’s former crib at 70 Willow, which is still for sale at the reduced price of $15,900,000. Now, as Curbed noted yesterday, there’s one more to add to the list: 26 Willow Street, a gorgeous 23-foot-wide Greek Revival house that just hit the market with an asking price of $3,800,000. Sweetness.
26 Willow Street [Brown Harris Stevens] GMAP P*Shark
daveinbedstuy….I don’t understand your comment about what I wrote. Are you saying it would take much less than 18 months and be *under* $1 mln?
I read on another local blog that 47 Willow Street is in contract above ask. FWIW. If true, I’d say the Heights market is truly bubbly, since that house needs A LOT of work. Of course, it’s the lowest entry point on Willow Street, so maybe a fresh-faced buyer (see bkhts2 post above) thinks they can squeak in under $3 million – but I doubt it.
Anyway, of course 70 Willow is sitting, it will take a once-in-a-lifetime buyer to pick it up at the current $10 million plus price. I think the others will sell quickly, not much below ask.
“We’re talking about 18 months of construction plus a budget of well over $1 mln.”
If you believe that then you’ve never actually done it.
All systems, new bathrooms and kitchen. Throw in a new roof.
Thank you for that bkhts2. Anyone spending this kind of money doesn’t just walk in , unpack their boxes and live with antiquated kitchen and baths. They do the whole place over to suit them and it costs tons of money, as you say.
The North Heights is a special place. No doubt, this house will take big bucks to renovate. Every novice buyer thinks they can put a few hundred thousand into these kind of homes and call it a day. Wrong. If you put new bathrooms and a kitchen in, you will also need all new mechanicals: both plumbing and electrical. And what about central air-conditioning? Anyone spending $4mln on a house will want that too. And what about the heating system? Does this house have an antiquated steam-heating system? That may need replacing too. Before you know it, you’ve got a complete renovation on your hand. We’re talking about 18 months of construction plus a budget of well over $1 mln. This is a beautiful house on a beautiful street in a great neighborhood and likely well worth it for the right buyer. But don’t kid yourself. It will be time-consuming and very costly to bring it to a level suitable for a home that someone pays multi-millions on. You’re looking at $5.5 mln all-in for a high-end renovation for a 22′ wide home. Of course, the end result likely will be beautiful and something cherished by the new owners.
NYGuy7…are you one of theose people who always has to have the last word???
And how do we balance the speed of the A train to Utica Avenue against — the lousy schools, lousy retail, and rampant foreclosure that is Bed-Stuy? Look, MY stop in Sunset Park has TWO express trains — the N and the D — but I’m not going to pretend that makes the area more desirable than Park Slope! (and I certainly get to Manhattan a hell of a lot faster than someone taking the F from 7th Ave.)
Whatever you need to tell yourself.
Is it really true as a poster said about more tourists and increased pedestrian traffic? When I live in the heights it was quite quiet for the most park, though I did have a hard time getting out my front door because of 100 plus elderly, robin-chested, Austrian tourists streaming by…
More people on the streets since the park opened or not?