House of the Day: 69 Maujer Street
This attractive three-story brick townhouse at 69 Maujer Street has been on the market a loooonnnnggg time. It was originally listed for $1,350,000 last September; after languishing for five months, the price was cut to $1,200,000 where it has stayed for the past four months. Even though this is hardly prime Williamsburg, we’re a little…
This attractive three-story brick townhouse at 69 Maujer Street has been on the market a loooonnnnggg time. It was originally listed for $1,350,000 last September; after languishing for five months, the price was cut to $1,200,000 where it has stayed for the past four months. Even though this is hardly prime Williamsburg, we’re a little surprised this hasn’t found a buyer yet given the paucity of townhouses with any historic charm in the area. The fact that the house is only of moderate size (2,700 square feet) shouldn’t be a deterent either, since the lot is 25 feet wide and there’s lots of air rights to play with; for some reason this block has an FAR of 3.4, considerably more than your average residential block. We don’t know the immediate area that well, so we’re assuming that’s what’s holding this place back. Thoughts?
69 Maujer Street [Sotheby’s Int’l] GMAP P*Shark
Photo by Scott Bintner for Property Shark
Hehehe. You guys should go to Tokyo, if you think this is exorbitant. Welcome to city living.
thats not a great area, believe me – i lived for three years on lorimer and ten eyck just around the corner. Too many guys with no jobs idling around all day.
it seems like how much it is worth is largely dependent on the rent roll, which is not listed anywhere.
Who needs to get real here? OK, I suppose 1.2M is fine if you make 400K to 500K a year. Isn’t that the accepted math, 2.5 to 3 times earnings?
Now what is the percentage of possible buyers who make that? Seriously, are we talking the upper 2% to 3%? And should they want to live there, east of the BQE, just thankful to “own” some kind of roof over their heads?
The only way the math can make sense for somebody in a more common income bracket is with an inheritance, the sale of another bubble house (been there, but it was only a 1-bed!), or egads, an ARM.
This kind of stuff is only “reasonable” by comparison with the absurd prices elsewhere.
Robert —
I only have 300,000$ to spend – to me, that’s a TON of money and I’m expecting something ASTOUNDING for that money — perhaps a 4000 sq. ft. townhouse in a great neighborhood with lots of charm, needing no work —
Just common sense talking.
You want to be astounded for 1.2MM?
The median price of an apartment in Manhattan?
Less than half the price of a house in cobble hill?
Below market for williamsburg?
Reality check please!
Anonymous 3:30pm,
“Entitled?” More like practical. $1.2 million might be chump change to you, but that’s a TON of money to me; and if I’m going to pull that much money out of my pocket for ANYTHING, that thing has to astound me.
What you see as being “oh-so-entitled,” I see as exercising good sense. And I think more buyers should do the same.
“Are potential buyers expected to be wowed by the fact that the house rests in Williamsburg?”
It’s not even in the “cool” part of Williamsburg. It is east of the BQE and south of Grand Street. There are no redeeming qualities about that section of WB.
How does it compara for a similar house on the market on Luquer between Court and Smith listed with Iron Gate properties for a similar price