House of the Day: 119 Bainbridge Street
Based purely on anecdotal evidence, it seems like houses in Bed Stuy—even the best ones—are having the most trouble in the post-subprime world. Take 119 Bainbridge Street, for example. The four-story, 4,132-square-foot house is a beauty and is on one of the nicest streets in Bed Stuy. Back in September, the house was listed for…
Based purely on anecdotal evidence, it seems like houses in Bed Stuy—even the best ones—are having the most trouble in the post-subprime world. Take 119 Bainbridge Street, for example. The four-story, 4,132-square-foot house is a beauty and is on one of the nicest streets in Bed Stuy. Back in September, the house was listed for $1,300,000. Now, the asking price has dropped to $1,000,000. Clearly the lack of buyers is about the overall market and the neighborhood more than a statement about the house, which has rocking woodwork. What’s the market-clearing price on this one?
119 Bainbridge Street [Brooklyn Properties] GMAP
Open House Picks 9/27/07 [Brownstoner] P*Shark
Wow – this house is simply beautiful. I bet an offer of $900k would do the trick, and a turning a couple of floors to rentals would amost cover the mortgage.
You would think they would be smart enough to list it for at least $1 less in order to avoid the mansion tax. And while they are at it, lop off another $500k.
Oops-I meant $500K more (the original 1,300,000 asking price).
that’s the ugliest kitchen ever. ever!!!!!
when staging a house, please remove the fish decals from the kitchen walls, especially if you intend to list it for over $1,000,000!
I love the stuy but this house was overpriced to begin with. this is the problem, people are greedy and now its catching up with them. let it sit on the market forever! people need a wake up call.
$220k tops
Well, it’s a flip. That’s the problem. Owner paid $805K one year ago, then listed it at $600K more (originally)? Why? No work was done to it. Screw it.
600K tops.
$450k.