House of the Day: 78 3rd Place
When did average-sized houses in Carroll Gardens start being worth over $3 million? Whenever it was, we didn’t get the memo. Last month, it was 44 1st Place, a generally attractive but inconsistent four-story house asking $3,842,500. (One reader wrote us a particularly nasty email about our stance on that post.) Now it’s 78 3rd…
When did average-sized houses in Carroll Gardens start being worth over $3 million? Whenever it was, we didn’t get the memo. Last month, it was 44 1st Place, a generally attractive but inconsistent four-story house asking $3,842,500. (One reader wrote us a particularly nasty email about our stance on that post.) Now it’s 78 3rd Place, a 3,100-square-foot, three-story brick that, while 23-feet-wide and full of charm, doesn’t feel like it’s worth quite $3,495,000. Are we just out of touch with the Carroll Gardens market or sellers overreaching?
78 3rd Place [Corcoran] GMAP P*Shark
“I would expect to pay more in Carroll Gardens than I would for a comparable house in Park Slope for the simple reason that it’s closer to Manhattan.”
Well the market does not reflect that. Hence, the price on this house is absurd. COMPS, COMPS, COMPS people.
We’ve been actively looking at houses for years (in the meantime, we bought a big apartment that’s doubled in value), so we know the market very well, and this truly is ridiculous. Even Corcoran sold a **4-story** this summer on 2nd place that was asking only 1.5 million. Granted, that place needed some updating (maybe 250-300K) but it was much bigger, had tons of charm and was basically in the same location – and yet was asking less than half this price — at a time when the market was at its hottest! So, I cannot fathom what this broker has in mind unless it is indeed a stunt. The photos make the place look mediocre at best.
As a buyer, I would expect to pay more in Carroll Gardens than I would for a comparable house in Park Slope for the simple reason that it’s closer to Manhattan. While it’s a personal preference, I’d much rather live in Carroll Gardens than Park Slope.
I was totally talking to Alex Rodriguez, and he said he’s tired of Trump Plaza and is putting his bid in today. At 500K over ask just to be safe! Then he is renting out the 1BR to Derek Jeter.
Go Carroll Gardens!!!!
Don’t be silly, SillyMadness–it’s just a hop (over the Gowanus Canal), skip (past the industrial wasteland of 2nd and 3rd ave) and a jump (across 4th–sorry, I mean “the new Park” Avenue) to hit 5th.
2:25 – actually, it’s easier to get to manhattan from 3rd place than Cobble hill – you just zip through the battery tunnel and your in the financial district in literally less than 10 mins.
But again, I recognize this house if VERY VERY overpriced and the neighb definitely doesn’t have the cache that I would imagine a hedge funder would look for. Although who knows, maybe he/she has good friends in the area and have grown t
Anyone have anything to say about the comps, or lack of comps, mentioned by the Lou dude? That is all a prospective buyer needs to know.
Actually, there were/are many sales in Brooklyn Heights in the under-4 million range. Smaller homes (LIKE THIS ONE) closer to the BQE, but still highly desirable, go for under 4, and even in the low-3s. And moving on to another popular and expensive Brooklyn neighborhood, Park Slope–you can buy a hell of beautiful house in Park Slope for this money and less. So please, brokers and sellers, lay off this one. The price is so out-of-touch that it’s almost comical.
2:43 = Investor Lou’s trustafarian son.