House of the Day: 98 Lafayette Avenue
Part of the reason that the market can feel like it’s softening is that property owners continue to price their houses at dream-levels. This house at 98 Lafayette Avenue in Fort Greene is a perfect example. It’s a four-story brick house just in from the corner of South Oxford that, other than its L-shaped lot…
Part of the reason that the market can feel like it’s softening is that property owners continue to price their houses at dream-levels. This house at 98 Lafayette Avenue in Fort Greene is a perfect example. It’s a four-story brick house just in from the corner of South Oxford that, other than its L-shaped lot that means parking, doesn’t appear to have anything special that would merit more than about a $2 million asking price. Instead, it’s on the market for $2,655,000. As far as we can tell, it also appears that the three-family house doesn’t have much original detail. What’s more, the heavily trafficed avenue is arguably less desireable than a side-street location in the area. Unless there’s some development angle with the driveway that we’re missing, we can’t see this getting close to the asking price. Can you?
98 Lafayette Avenue [Douglas Elliman] GMAP P*Shark
Agree with October 18, 2007 5:35 PM. It’s the buyers who generate these asking prices. Hate on them. The brokers are doing what you and I would do – getting that paper.
The majority of buyers out there only believe The Times and the 6:00PM news. When these media cry, “the sky is falling”, only then will they reverse course. OMG! Gotta go! The DOW’s down -221!
12:02, 10:39 is not illiterate. She’s ignorant.
Other than that I completely agree.
I like the broker who said $2.5M, $1,000/sf in the slop and $1,200/sf in BH.
What a perpetual broker idiot.
By the way, that would be “expletive deleted” not “explicative deleted”. Laughable.
A message to all you folks thinking about becoming a real estate broker: literacy is not a requirement.
Not sure I agree with 8:07 am – I think if this was in the slope it would get more than $1000 / sf. And if it was in the heights it would get $1200 / sf. Yes it probably needs about $500k in work to make it a great one family (blind estimate – just a guess really) but as a casual observer of townhouse pricing in caroll gardens, the heights, cobble hill, the slope and Fort Greene this looks like it will sell at at least $2.5 What does a 3600 square foot – 20 foot wide sell for in Fort Greene if it was a one family ready to move into? I like the jackass that said $1M – what a (explicative deleted) perpetual renter.
Fort Greene is interesting price-wise when compare the types of houses we just saw come on the market last week on Lincoln Place in Park Slope. I think the N. Slope is similar to the beauty of Fort Greene. And Fort Greene offers a much better commute to Manhattan. So for around $2.6m you could get 4 stories of a nice brownstone/townhouse in either location. And no I don’t work for or with Ms. Lily. Just trying to imagine how buyers that are new to Brooklyn would be looking at this house and others in the Slope. Some people prefer FG and others prefer the Slope. Same price point these days.
Q: How can you tell if a broker’s lying?
A: Her asshole opens up.
Buy in Bed-Stuy!
Even if this place has an offer (doubtful), all that means is that there are 1 or 2 blind buyers out there. My husband and I have been watching the brownstone market very closely in the past few months and although a few places here and there will move for their ridiculous prices, there are many others which have no takers and eventually start cutting their prices. I don’t think it’s a bad strategy for a broker to price high to begin with, b/c hey – you never know. There ARE some irrational buyers out there who WILL pay this kind of money. Places sitting for a long time and not moving is becoming more and more the norm so unless there is an urgency to sell, it doesn’t hurt the seller terribly much to mark their property at a high price initially and then eventually bring it down as needed.
It’s a confusing market out there right now- buyers are paying top dollar still and other buyers are getting real bargains and still other buyers are waiting it out b/c they are jittery about the market.
Regardless, this price for this place is ridiculous.
It has offers.
They are looking for a back up.