House of the Day: 1265 President Street Reduced
Timberrrrr! The asking price of the house at 1265 President Street continues to drop precipitously. The four three-story brick-and-limestone house in Crown Heights started its journey back in May on Craigslist praying for a miracle at $1,450,000. We called it “a bit aggressive” at the time; a commenter more astutely referred to it as “fantasyland.”…
Timberrrrr! The asking price of the house at 1265 President Street continues to drop precipitously. The four three-story brick-and-limestone house in Crown Heights started its journey back in May on Craigslist praying for a miracle at $1,450,000. We called it “a bit aggressive” at the time; a commenter more astutely referred to it as “fantasyland.” At some point this summer, Corcoran got the listing and tested the waters at $1,195,000. The result? Still no takers. So this week, in a sign of the times, the price was cut to $995,000. This’ll be very interesting to watch. In this environment, given that the interiors lack the original detail of many of the houses in the area, this is hardly a lay-up even at two-thirds of the original price. Thoughts?
1265 President Street [Corcoran] GMAP P*Shark
House of the Day: 1265 President Street [Brownstoner]
there is a price where this would appeal to me despite the crappy kitchen. I just dont think we are there yet.
Looks like it really does depend on the area.
I understand the the Berkeley Place townhouse in Park Slope that was discussed on here last week and went on the market 2 weeks ago for 3.4 million has sold.
Things are selling swiftly and for hefty price tags. Just not in the frings areas.
Thomas Jefferson=SLAVEOWNER
the What is the smartest douchebag in Brooklyn.
I think this will sell close to this price. This street is gorgeous and now the potential buyers just saved the mansion tax… looks like it could easily be converted to a 2-family with ground floor rental… $1M for this area has been the norm for the last two years
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
Thomas Jefferson
Hello sheep. The Dumbasses that thought the rate cut will save them, take a look at the long end of the yield curve. Bondholder are smelling the stench of inflation. Foreign Central Banks are dumping their holdings as we speak.
Gold is soaring 741 per oz as we speak, The Dollar is taking a beating and consumer spending is flat.
If you are selling your house, lower that price NOW!
The What
50 to 75 percent of comps.
This house is 5-10 minutes from the gardens and PP, if it is $500k in 2010 what is a lesser house in PS going to be (10 minutes away) in 2010?
Could they be anymore tacky by having the refrigerator outside of the outlined kitchen area? Sheesh!
Low ceilings too. 2010 value = $500K.