House of the Day: $8.75 Million in Cobble Hill?
Holy Moly! This has got to be the nicest house on the market right now. It’s a 25-foot-wide Greek Revival house overlooking Verandah Park in Cobble Hill with a stand-alone carriage house in the rear. All in, it’s got 7,000 square feet of living space and enough parking space for four cars. Judging from the…
Holy Moly! This has got to be the nicest house on the market right now. It’s a 25-foot-wide Greek Revival house overlooking Verandah Park in Cobble Hill with a stand-alone carriage house in the rear. All in, it’s got 7,000 square feet of living space and enough parking space for four cars. Judging from the photos, there’s recently been a top-of-the-line renovation as well that preserved the house’s many original details while creating a beautiful, huge modern kitchen. Okay, so the desirability of the house ain’t in question. How about the price? Think $8.75 million will fly? This would have to be a record for Cobble Hill, wouldn’t it?
Magnificent Townhouse & Carriage House [Brown Harris Stevens]
Just because someone is filthy rich doesn’t mean they will overpay and throw their money away. This house = overpaying.
I think it is totally worth every penny the area is surrounded by nothing but yuppies and uber wealthy.
there is no question that a buyer could get a jumbo mortgage.if you have excellent credit (as most multi-millionaires do), income of $1 million a year and assets in the millions you could easily get a multi million dollar mortgage, and it’d be less than 7%. i make nowhere near any of that and i just qualified for $1.5 mill loan at 6.67%. but this house will never appraise for anywhere close to this price, i doubt it’d even appraise over $4.5. no matter how nice it is, there just aren’t any comps to support it, and that’s what appraisals are based on. the house could be made of gold and it wouldn’t appraise for that high cause no other house in the neighborhood has ever sold for anywhere near that high. i think the cobble hill record is $4.4. so no matter what the buyer has to put down a few million, even if it sells for $6 million
My guess is it will sell for about 5.5. Maybe 6. I have been seeing more wall street types around here with snazzy cars and snazzier suits. Of course, they dress down for the weekend.
Maybe for that price you can get the seller to throw in a Ferrari or a Bugatti. I recently saw that someone trying to sell their Soho townhouse is throwing in a Mini Cooper!
It could get as much as 6 million, but this price does seem way too high. I don’t even think the renovation is so great — parts of it look a bit tacky/generic, the kitchen is sort of dreary and dark, and there are no pics of bathrooms. The floor plan also wouldn’t work for me: dining room on different floor than kitchen, dark and basically pointless garden floor.
Post 7:23: just out of curiosity, where do you live? High on the hog, huh?
Maybe A-Rod will buy it after he signs his new contract.
If the house doesn’t sell, do you think he’d let me have that foosball table for a hundred bucks?