House of the Day: 197 Clinton Street
What’s in a name? A neighborhood name, to be specific? It’s an apt question when thinking about today’s house of the day. Located at 197 Clinton Street, the four-story family brick-and-brownstone building lies just a block south of Atlantic Avenue, placing it in Cobble Hill rather than Brooklyn Heights. Currently configured as a owner’s duplex…
What’s in a name? A neighborhood name, to be specific? It’s an apt question when thinking about today’s house of the day. Located at 197 Clinton Street, the four-story family brick-and-brownstone building lies just a block south of Atlantic Avenue, placing it in Cobble Hill rather than Brooklyn Heights. Currently configured as a owner’s duplex plus three rentals, the house appears to be in lovely shape. There have been plenty of sales in the area in the high-$2 millions but not a lot of houses this size have fetched this asking price of $3,500,000. Think it’s possible, especially given the mounting market fears?
197 Clinton Street [Douglas Elliman] GMAP P*Shark
who is gabby and why is she posting by saying “we”…is she part of the brownstoner family?
Re 1:46 Why is there always someone on every thread that makes a blanket statement about the worthlessness of properties due to their proximity to AY? News Flash…not everyone thinks that AY is toilet that will flush away surrounding neighborhoods. This house is about as close to AY as Chelsea is to Madison Square Garden and property values in Chelsea are hardly depressed as a result.
Scratch my optimistic 1:38 comment. I did not realize this is a four-family.
The asking price for a small rental building is heavily contingent on the rent roll and the age/status of the renters.
It is an investment property. Not a luxury home for a millionaire family unless two of the existing units are empty or on month-to-month leases.
this has been on the market for over a year, i think it started at $4 mill. it was also a house of the day before if i remember correctly. a 4 fam will never get this price. if it was a nice 1 or 2 fam it’d have sold in a month. every nice cobble hill one or two family that has been on the market recently has sold for around 3 million or higher. look at the house houses on the corner of clinton and kane (halstead), the 3 story on baltic (BHS), corner of degraw and strong place (BHS) and henry and degraw (corcoran). but all of the 3 or 4 fams have languished cause they try and fetch the same price.
I think this house is one away from Pacific Street. So it is really right off Pacific not Atlantic. The real plus here is that it is Cobble Hill. A great neighborhood, not fraught in any way, kid-friendly, around the corner from the new Trader Joe’s, a fine city house. Now whether the very aggressive prices for Brooklyn RE will hold up is anyone’s guess. But if we see weakness in Cobble Hill, fasten your sear belts in Fort Greene/Clinton Hill.
lol 1:46. i have one word for you. ATLANTIC YARDS EFFECT. bdaaaa.
how do you see Atlantic Yards impacting Cobble Hill?
i don’t see it. $3 mil maybe but when you’re mortgage rate is 15%, every $500k counts!
Soon this place will be worthless because of AY.