House of the Day: 369 6th Street
This new listing at 369 6th Street isn’t the biggest or most ornate house in Park Slope but it sure is cute as a button. The three-story brick is a legal two-family but has been configured as a one-family. The moldings and woodwork are impressive and the place clearly has had a tasteful renovation at…
This new listing at 369 6th Street isn’t the biggest or most ornate house in Park Slope but it sure is cute as a button. The three-story brick is a legal two-family but has been configured as a one-family. The moldings and woodwork are impressive and the place clearly has had a tasteful renovation at some point recently. So the question is not whether this place will catch the eye of buyers but what they will make of the $1,749,000 asking price. Thoughts?
369 6th Street [Brown Harris Stevens] GMAP P*Shark
By thefed on April 6, 2011 3:14 PM
If you are in your 40s and 50s and make 300K you will not invest to real estate by upgrading to a park slope townhouse. I think you are missing the point. If daddy is not rich then $300k is not enough for supporting a good lifestyle in new york for now and later and one needs the windfall for dignified retirement and health benefits
I think you are missing the point. if you’re in your 40s or 50s and making $300,000, chances are you’ve been making pretty close to that for a number of years and you have apretty decent investment portfolio already, including liquid funds for a downpayment. Unless you’re a complete spendthrift, if you’ve been making $200-300,000 fo a number of years you have a large IRA, a stock account and cash to plunk down on the order of $200-400,000. Unless you never learned how to manage your money that is.
Besides, it’s a moot point. i think most buyers these days are selling condos in manhattan with huge gains.
Biff is right, this property is mainly for the super wealthy but a poor wannabe with a huge windfall from a lucky past purchase might sneak in.
quote:
Apologies. I must have been mesmerized into a state of sublime distraction by the hypnotic whirling of your pom-poms.
HAhAHAHHAHAHHAHAHhHAHhAhAH
*rob*
Narrow plain brick house, nothing special block, not near the park, 1-family.
ONE MILLION SEVEN HUNDRED FORTY-NINE THOUSAND DOLLARS.
Don’t know if the price is fair or not. It’s just nuts.
If you are in your 40s and 50s and make 300K you will not invest to real estate by upgrading to a park slope townhouse. I think you are missing the point. If daddy is not rich then $300k is not enough for supporting a good lifestyle in new york for now and later and one needs the windfall for dignified retirement and health benefits.
“Apologies. I must have been mesmerized into a state of sublime distraction by the hypnotic whirling of your pom-poms.”
hysterical
Additionally, most people in some sort of job where they make above $250,000 get substantial bonuses and stock options.
If you’re talking about people in their 20s and 30s that might make $300,000 then I’d say no, they probably haven’t accumulated a decent downpayment yet.
I think we’re splitting hairs. Or is that splitting heirs?
My only point was that this may be a place for an upper middle class individual or couple unquestionably with a healthy downpayment and/or income (or someone, as BHS said, who entered the market years ago) but is certainly not limited a super wealthy buyer.
You’re all also missing another issue that I harp on. All it takes is one out of maybe a few tens of thousands of people who bought a one bedrooom ( not even a two bedroom) condo in manhattan in the late 90s/early 00s who have a $400-600k gain to be able to easily afford this place, on FAR less than a $300,000 salary.
Add in two bedroom condo owners ( another 20-30,000 people) with gains of over $1MM and you get a huge pool of buyers for anything in the $1MM -3MM price range who can plunk down a huge down payment.
All it takes is them getting tired of living in a 1-2 bedroom highrise and looking for something like this.