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
“We almost bought this house when it was on the market in 1999 and Naida McSherry was still a realtor in Clinton Hill. List price? $400,000.”
Reality check. Those are the types of prices we’re headed for (okay, maybe more like $750,000 for this type of listing and that’s optimistic). Deflation rules. Entry, mid and senior level salaries (outside finance) were pretty much the same back then as they are now. Yeah, mortgages were more expensive but the disparity in interest rates doesn’t even come close to that in prices between the periods. Game Over.
Brownstoner should have a special emergency HOTD tomorrow, in addition to open house picks, and call out Pres Street. That listing is definitely a hoax–a PR stunt. No other explanation.
9:00….
Most people have realized that long ago.
You just like to say they haven’t, so you can sound smarter than everyone else.
Classic.
BTW, with the price of rentals in NYC (which will always go up exponentially over time) buying a property (even one which doesn’t appreciate one cent) is still doing better over the long run, than the renters who see their cost of housing increase by 5% per year or more.
OMG – just looked at 329 President St listing – could everyone please take a moment and look at that?
Mr. B, this listing is BEGGING to be HOTD.
I mean, it is time to take it to the streets — anybody ever read Germinal? The time has come to march on Corcoran & hoist body parts on sticks.
329 is not only underwhelming, it is GROSS. GROSS. GROSS. I literally would not live there if I were GIVEN the place.
You know when we will realize that the dust has settled, the bubble has exploded and the recession has ended??!!
We will finally realize that it’s only really the uber wealthy who can afford to drop 3 million on a house.
Not some shmo who happens to troll brownstoner and then pops over and writes a check for 200K over the purchase price just to make sure he’s beat out “all the other bids.”
‘And it doesn’t seem like a terrible investment, if you plan to stay for a while.’
“A while might be 20 years in this case, but yes, I agree with you…”
You’re both wrong. Take a look at history.
http://tinyurl.com/g9vf4
You’ll never see 2007 prices again in your lifetime. Nominally, yes, but that doesn’t mean dick. You will lose in real terms and that’s what matters. This housing/credit bubble is a giant pyramid scheme that is slowly collapsing. I’m so glad the bloggership here is finally waking up. Congratulations to you all.
“I’ve seen some hot pieces of meat over there.”
Agreed. Meow!
As for 329 President Street: HA HA HA HA HA HA HA HA. Now the pricing is just getting hilarious. Guess it’s the last mad grasp for cash as the economy crashes.
“i’m guessing at yours, it was tops off, but over here in park slope, i don’t think there’s too many dudes i need to see barechested…”
Contrary to popular opinion, I’ve seen some hot pieces of meat over there. Lots of fit and good-looking DILFs. It makes me feel immoral to even look at them.
Was that really Ted that commented above? The real Ted?