House of the Day: 23 1st Place
This house at 23 1st Place is being pitched as a chance to create an owner’s duplex with with two rentals but we suspect that, given the amount of unused FAR, a developer is a more likely acquiror. The asking price of $2,400,000 seems expensive on a per square foot basis for the 3,000-square-foot existing…
This house at 23 1st Place is being pitched as a chance to create an owner’s duplex with with two rentals but we suspect that, given the amount of unused FAR, a developer is a more likely acquiror. The asking price of $2,400,000 seems expensive on a per square foot basis for the 3,000-square-foot existing house, especially since this will most likely require a decent amount of work. (By comparison, a slightly larger house at 128 2nd Place sold last spring for just $1,800,000.) Is this high price a function of the current development-friendly way FAR is calculated in this nabe? Think it’s realistic?
23 1st Place [Halstead] GMAP P*Shark
for 5:40 only–everyone else, refrain from jumping on me:
http://www.halstead.com/detail.aspx?id=299118
800 per square foot is high for the neighborhood but as a supply and demand thing there are not many of these out there on the market. And, of course the FAR is rolled into the price, it is part of the property rights for sale why wouldn’t it be? That said, if anyone thinks that developers are going to pay $800 per square just to knock it down and build something else, fuhgedaboudit, won’t happen. If at some point the owner would choose to build out to their FAR maybe they will, it is something buyers and sellers factor in. Or at least those who know what they are doing factor in.
Those who are on a FAR jihad, stopping all building in its tracks, they don’t mind giving up their property rights anyway. They have plenty of money. Maybe they don’t count it when they buy and sell.
I think you guys are losers you are talking about prime brooklyn in 1st place it does not matter what the price or FAR is. All that matters is the house is nice and the block is prime and guess what else the area is top notch prime Carroll Gardens. If you don’t think so then you better look in Bed stuy or maybe Bensonhurst.
i have never seen so many nasty commments. you all must be jealous brokers without listings tsk tsk tsk
yeah, in inwood maybe.
if you toss in another $300K for renovation costs, then you are at $900 per sq. foot.
not the worst, probably too high for a lot of people.
you can buy a pretty killer ready to go condo somewhere – including manhattan for that coin. you won’t get 3000 sq feet, but could get well over 2000 sq feet in manhattan for $2.7 million.
Why do posters believe that Mr. Brownstoner has a responsibility to “bargain hunt” for house of the day. He’s not a personal shopper, just a reporter on what’s out there in the market. He doesn’t set prices.
Realistic when you’re making 800K/year
SLIM SLIM pickins.