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
“I would call a $300K a year household income wealthy, considering the average in that neighborhood is between $60K and $85K. ”
You are wrong. The income average is low because of renters, coop/condo owners and those who bought before prices went up. One who makes $300K is not wealthy for park slope standards and in fact the most can afford is a 2br apt.
By Biff Champion on April 6, 2011 2:44 PM
“A couple with both individuals working in New York with an average gross salary of $150K is NOT “very wealthy” in NYC.”
It sure looks to me like a household income of $300k puts you way to the right of the income distribution curve.
http://pics2.city-data.com/hin2009/17253.png
http://www.city-data.com/city/New-York-New-York.html
quote:
Indeed, there are some people here who make $300-$400K or less and feel that they are entitled to live anywhere they damn like. If it is not affordable to them it is “unfair”, “crazy”, “bubble territory”, “not worth it”. In short, the live in denial.
i hope you get mugged.
*rob*
> Clearly you missed the comp I posted above.
Apologies. I must have been mesmerized into a state of sublime distraction by the hypnotic whirling of your pom-poms.
I would call a $300K a year household income wealthy, considering the average in that neighborhood is between $60K and $85K.
For the city, the median household income is $38K, and in the wealthiest blocks of the Upper East Side, it is $188K.
As dibs pointed out, whoever buys this could have a substantial down payment. I can picture someone who bought a 20 years ago cashing out and moving up to this.
“Ridiculous. Ever hear of saving for a larger downpayment? The mindset that everyone buys a house with a 80-90% LTV means you just don’t know a lot about saving. ”
Agreed. If you have that kind of cash then you can afford it. However people who make $300K very rarely have such savings unless daddy is rich.
If they have this kind of savings then they are stingy and will avoid the park slope lifestyle.
Maly’s numbers make sense to me.
“This is very high for the a house of this size and this location. Calling it a bargain makes you sound like a fool.”
Clearly you missed the comp I posted above.
300K income is not enough for this place. One should make twice as that to afford it.
Ridiculous. Ever hear of saving for a larger downpayment? The mindset that everyone buys a house with a 80-90% LTV means you just don’t know a lot about saving.