House of the Day: 242 Washington Avenue
We had already started to write up 242 Washington Avenue as a House of the Day when it hit us: We’ve been inside that house. We were guests at a lovely al fresco dinner party last summer. In fact, Mrs. B had just been talking about how the owner’s duplex would make a good interiors…
We had already started to write up 242 Washington Avenue as a House of the Day when it hit us: We’ve been inside that house. We were guests at a lovely al fresco dinner party last summer. In fact, Mrs. B had just been talking about how the owner’s duplex would make a good interiors post. Given the conflict of interest, we’ll steer clear of opining about the $2,300,000 asking price, and just say that the owner’s duplex of this five-story, 5,500-square-foot house is really nicely done in a simple but elegant manner. We’ve never seen the upper three rental units, but judging from the photos they’re not as nice. They do, as the listing points out, generate over $50,000 a year in income. This’ll be an interesting one to watch.
242 Washington Avenue [Corcoran] GMAP P*Shark
Ugh. One of the owners here, and we’re baffled, too–those photos are a couple of years old and not particularly flattering. Corcoran is sending a photographer next week. Apologies, everyone.
Its time Mr. Brownstoner get out of his blog bubble. Sorry but thats the truth.
It really doesn’t matter is the house is “worth” whatever somebody pays – if they have the money to pay it, and can stay for the decade cycle (or even if not, as they can always rent out the owne unit, too)they’ll be fine – meanwhile, they’ll be collecting rents, which are likely market rate, and they don’t seem to go down much, even when prices to purchase take a big dip. Owning market-rate rental properties in NYC seems to generally be a winning proposition. And if it is livable as it is, any renovation it needs is totally discretionary.
Where is The What when we need him?
wow, thanks for promulgating exactly the attitude that encourages such recessions and kills economies. You should know from reading WSJ etc. that consumer confidance can guide an economy out of a recession. Doomsdayers like you are the reason thinks go down the potty.
Spell much? Actually, what got us into this mess was a tech bubble followed by a housing bubble; i.e., blind optimism and easy credit. Methinks this is my last post on Fucktardville, excuse me, Brownstoner. Love the site, but really, the cheerleading for houses that are soon enough going to be worth a fraction of these ludicrous asking prices has gotten out of hand. Please, do yourself a favor, and listen to Bernanke, and read carefully about what is happening to the I banks; then ask yourself, Is the smart money ponying up 3.5 million to live in CG??
Maybe that Queer Eye dude will buy a second Clinton Hill townhouse and use it for his doll collection!!
3:04 – even if these were current photos, I fail to see how this house needs 700,000 of work. You are clearly one of those people with tons of money who simply hires the most expensive architect/contractor and blindly accepts any ridiculous number they throw at you. Changing which floors are for owners/rentals/knocking down some walls/ building others/moving a kitchen to the garden floor/ knocking out back walls to open to garden – you could do all that easily for $200,000 if you know what you’re doing.
Still stupidly expensive.
Crap if you are selling a 2.5 million dollar house and least put some effort into the marketing and get some new photos and they better be HOT.
“and no, I’m not a broker”
But you ARE the seller, aren’t you?
That’s another thing Americans are known for.
Not telling ALL of the truth, thinking that it’s not the same as LYING!!!!