House of the Day: 165 6th Avenue
The asking price on the four-story, two-family brownstone at 165 6th Avenue in Park Slope was just reduced by $100,000 only a week after being listed for $2,599,000. (Tough timing, what with the whole sub-prime crisis and all.) While some people might prefer to be on a side street, this is a lovely stretch of…
The asking price on the four-story, two-family brownstone at 165 6th Avenue in Park Slope was just reduced by $100,000 only a week after being listed for $2,599,000. (Tough timing, what with the whole sub-prime crisis and all.) While some people might prefer to be on a side street, this is a lovely stretch of 6th Avenue and a beauty of a house. All the original molding and woodwork appears to be in good shape (though we’re not so sure those parlor floors are original) and the owners have done a good job of getting it into sales form. It’s hard to say what the market-clearing price is these days, but it looks like a better bang for the buck to us than yesterday’s house at 86 Garfield Place. Agree?
165 6th Avenue [Corcoran] GMAP P*Shark
86 garfield is far superior fantastic location on lovely treelined street. 86 is in 321. this house on 6 ave was priced by corcoran,corcoran always over prices everything and then it sits.
We get a kick out of you as well, 6:53.
More than you know.
having been to san francisco, dubai, london and aspen, i can say that, for 2.5 million dollars you would have a difficult time finding anything nearly as nice as a browntone.
you could probably snag something in dubai for under 2 million, but you’d also have to live in the middle east in a city where the vast majority are slaves. if that’s your thing, then go for it.
if london is you thing, enjoy your 2.5 million dollar 2 bedroom, apt.
if aspen is your thing, well…enjoy aspen. not much else going on there.
san francisco. love it, but a place like this is gonna be just as expensive and well…as much as i love san francisco, it ain’t no nyc.
guess i am of the belief that i live in a place i love rather than seemingly hating the place i live and saying i’d prefer to live just about anywhere else than here, as you seem to be saying, 6:34.
if you want the most bang for your 2.5 million bucks, you are in the WRONG city.
The deal breaker is that this is in the WRONG school district. Garfiled house is in the RIGHT shool district.
I live in Brooklyn because it is the best I can afford. If I had 2.5 million dollars I would be in Aspen, Key Biscayne, or La Jolla so fast it would make your brownstone spin.
And yes, I read this blog sometimes because I get a kick out of you guys. It’s like a cult.
San Francisco, Aspen, Dubai, London, these are all really nice places. The question remains why would someone pay this much for an ordinary house in Brooklyn?
I think paying this much for a regular, not spectacular, brownstone in Kings County is insane. Just the closing costs are obscene.
I’m lining up for my subsidized, new, moderate income house with a garage.
These prices are for the coke snorting classes. Fuhgedabodit.
Hey 3:40,
I think the tax deduction the owner will get for mortage interest would be pretty major and, along with the rent income, offset some of the negatives you mention. Closing on a house like this will probably cost you around $300K if you are lucky with the closing costs… does that sound right to people?
The deal killer is the kitchen.
As for “income producing” it doesn’t produce any income! – you will spend all that rent on property taxes and maintenance and necessary improvements over the years, as well putting some towards the 10% (250k) you paid to get into the property and out of it again. Plus, if the proceeding downers weren’t enough, the rent goes to the interest foregone on the money you spent to acquire the top two floors that you are now renting to someone!
So ridiculous to say these houses are “income producing”.
An “income producing” property is an 8 family bought for 12x nett income per year – if you can handle the work involved in being a landlord.