House of the Day: 351 Adelphi Street
Whether it’s the bonuses or the fact that buyers are tired of waiting for the long-predicted bursting of the bubble, it feels to us like there’s been a perceptible uptick in market sentiment in the last few weeks. We don’t have any hard facts to back that up, but certainly the strong interest in 100…
Whether it’s the bonuses or the fact that buyers are tired of waiting for the long-predicted bursting of the bubble, it feels to us like there’s been a perceptible uptick in market sentiment in the last few weeks. We don’t have any hard facts to back that up, but certainly the strong interest in 100 Decatur Street showed that there a ton of buyers out there. The owners of 351 Adelphi Street apparently have figured this out and decided to raise the asking price of their Fort Greene brick house 10 percent. Back when we had it listed as an Open House Pick in October it was at $1,900,000. Now it’s $2,100,000. It’s a great looking house. We shall see.
351 Adelphi Street [Corcoran] GMAP P*Shark
Open House Picks 10/13/06 [Brownstoner]
Not waterworks tile throughout. She buys generic stone directly from distributors. She has nice taste, but it’s not as expensive as you think it is. But then again you would have to pay in blood, sweat and tears if you wanted to shop around for all this stuff yourself so if you love the house you should buy it. And the original set of buyers should probably have gotten over their hurt pride, anger, or whatever to cough up the extra money if they love the house and can afford it. It’s not a popularity contest with this seller obviously, or with this agent who is doing her bidding, which is what agents are legally forced to do. Sorry to sound really cruel, but it’s the new reality with this listing. My guess is that the seller is realizing the prices people are getting in the neighborhood and she thinks she can get more money. If you love the place try to depersonalize it and just buy it. And if you don’t just move on. The more personal you make it the more you are wasting your time.
7:02. It’s an interesting dilemma. Very high end condos will actually sell without the finishes, and will let you finish how you want — sometimes within the selling price, sometimes at your own cost.
I think in this price range, it’s hard to sell something unfinished — most people don’t have money for a decorator or time to DIY. They’re professionals with kids (or kids on the way).
The problem with Waterworks is that it’s so specific. It seems fairly neutral, but like all overpriced, trendy junk (REstoration Hardware, William Sonoma), it’s ultimately tacky and uncomfortable to live in unless YOU chose it personally.
If I were a flipper (god forbid, but hey, to each his own), I would never install something that screams a style or label. Choose nice quality, neutral, low key, but I repeat, NICE QUALITY stuff. Limestone or nice ceramic floors. Duravit or refurbished cast-iron sink. Grohe fixtures (because, regardless of taste, they work like a miracle). Now you have a nice, functional, pleasant, high quality bathroom that doesn’t scream anything.
everyone keeps saying don’t put in waterworks fixtures, but what kind of fixtures would you put in? i know bathrooms and kitchens are very personal, but you can’t get top dollar if you don’t include them!!! you have to at least run the rough ends, then the buyers are stuck with putting the fixtures in those palces. so of course you have to finish the bathrooms. but just like any other house, or co-op or condo some people will like your choices, others will not.
Is the Waterworks woman the same one selling the house on Waverly?
No one mentioned yet that this place was originally priced at $2.1 (or more?) when it went on the market, then reduced within a week or two to 1.9. I remember noting the reduction on this site when it happened. Seems the seller has returned to her/his original number.
When I saw it (late summer, fall??) the parlor floor was finished but upper floors were still a construction zone. Kitchen had nice appliances, cheap cabinets, bad layout. Waterworks bathrooms on upper floors were pretty, but not finished at the time. Broker told us the owner had bought another house to live in and was finishing this one up to sell. We figured owner must be getting major discounts a waterworks.
Nice block.
I called the brokers three times before they raised the price last week. No return call. My broker then followed up, the brokers told him in writing (I have the email) the buyers were signing the contract that day. When it popped back up as an open house for $200K more, my broker followed up. I have a follow up email from the brokers saying the deal is fine, sellers want one more open house. So either the seller is jerking people around, or the brokers simply are not being forthright.
Three things that make me burn rubber backwards:
1. Possible structural problems (rotting floors?) that have been veneered over with lavish finishes.
2. Holding an open house if in fact there is already a signed contract. (someone above sez this may be the case, but in the seller’s defense, who knows?
3. Raising the ask after spending many months on the market.
Bad karma, baby. Bad karma…
Thank you, Anon 4:31—THAT explains it. Nobody puts fricking Waterworks faucets, sinks, and tiles into a house they’re going to sell–not even a $2.1 million stoner in Ft. Greene–unless they have some kind of delicious discount with Waterworks. That stuff costs fairly serious coin. Meanwhile, I guess I mis-spoke–it remains to be seen if this IS a $2.1 million house. I don’t mean to be meanspirited, here, and I wish all my neighbors success and prosperity–but I’ve been seeing this place on the market for ages, now (and I’m sick of the zebra rug in the living room). Do people agree that raising the price is an interesting strategy of Corcoran’s, or is it kinda nutty? I guess at least it projects some kind of confidence in the product. No?
whoops I should always proof read- meant polishing a turd, and good location