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
I would bet that if you pooled together all the incomes of all the people that ever owned this house it would not reach 2.65 million dollars.
I would say that though the house is nice, it has quite a high price tag.
Insane even. I know the realtors will scream that this is merely the new reality, get used to it. I’m trying.
of only every home can be as beautiful as my brownstone
alas the world is a sad place
Isn’t this a better deal for a Lafayette Avenue house?
http://realestate.nytimes.com/sales/detail/44-1075582
Hey, that’s right accross the street from the big apartment build (99 Lafayette) that I lived in years ago.
You beat me to it Putnamdenizen. Thank you!
The garage/driveway is the only selling point for this house. However, it’s a tradeoff since there is NO garden at all. I walked by to check it out a while back when it first came on the market.
Let’s see – cost of mortgage and forgone investment of principal – about 16k a month. Apartments 2500 each a month. So costs (not including taxes) about 11k a month. Better be a good race.
2.6 is a lot but if you break it down with 2 rental apartments it can be made affordable. Best place to watch the marathon in all of NYC
That’s why this house has been on the market for a while. People get greedy and think their house is the shit. FYI: there was a lis pendens on this property about a month ago (not sure if it still stands) so any interested buyers might be able to negotiate for much lower than asking.