House of the Day: 165 Columbia Heights
When the Watchtower Group announced last spring that it would ratchet up the liquidation of its Brooklyn Heights holdings, one of the properties in the goody bag was 165 Columbia Heights, a two-story carriage house on one of the most desirable stretches of the Heights. For the last six years, the 4,172-square-foot house has been…
When the Watchtower Group announced last spring that it would ratchet up the liquidation of its Brooklyn Heights holdings, one of the properties in the goody bag was 165 Columbia Heights, a two-story carriage house on one of the most desirable stretches of the Heights. For the last six years, the 4,172-square-foot house has been used as guest quarters for the Jehovah’s Witnesses. It looks to be in good shape and there’s a highly-coveted three-car garage as well. But still, $7,200,000? We shall see.
165 Columbia Heights [NY Times] GMAP P*Shark
Good Lord! Watchtower Divesting Six Heights Props [Brownstoner]
Those aren’t truly rich people who buy those things, 6:57. Those are the newbie wannabes. I know a family that is on the Forbes list with a billion dollar fortune going back 3 generations and they wouldn’t be caught dead owning any of those tacky things you mentioned. They also never overspend on real estate. They like to think of themselves as more intelligent investors than that. They do give away a lot of money though, you’re right about that. But philanthropy is totally different than throwing money away on vastly overpriced real estate.
I have to disagree with whoever said that rich people do not like to overpay and waste money, Rich people LOVE to show off by spending obscene amounts of money. it’s called conspicuous consumption. go to a yacht showroom some time, or look at the price of a Chanel handbag or Vuiton luggage (they can make the pieces so as to fit perfectly in your car’s trunk)
There are cheapskates in every economic level but most super-rich love love love to show off by spending huge amounts of money or by giving away huge amounts of money, cheapness is not a virtue in the upper class any mmore than it is in the lower class. And even though there are rich people who are cheap, being cheap never made anybody rich, truly, otherwise there would be many more rich people.
Please send all checks to http://www.jumpinjehovahshouse.com!
And then flip it for 9 million! Count me in. Where do I send my check?
There’s an even nicer carriage house on the north end of college place for sale for 4.5m. We should all chip in and buy it.
“even ultra-rich people don’t like to overpay or waste money.”
ESPECIALLY ultra-rich people don’t like to overpay or waste money.
I am Jehovah, witness that!
Seems to me they’re trying to get an ultra-rich neighbor who wouldn’t mind paying through the nose to have an adjoining or close garage and guest house–maybe even for the nannies or hired help. Definitely a niche-buyer, and one who doesn’t care to waste money, since this house can’t be really worth more than $5 mm.
Problem for the sellers is, even ultra-rich people don’t like to overpay or waste money.
Makes 135 Joralemon look positively cheap!
(and we know that that hasn’t sold in over a year)
The carriage house on Love Lane hasn’t sold in a year, and it is 3MM