House of the Day: 193 Washington Park Price Cut
“Ridiculous,” “Give me a break,” and “This will sit for a long time” were some of the comments from readers when we first featured 193 Washington Park as a House of the Day back in early November; at the time, it was listed for $3,875,000. Looks like the commenters were right: After a couple months…
“Ridiculous,” “Give me a break,” and “This will sit for a long time” were some of the comments from readers when we first featured 193 Washington Park as a House of the Day back in early November; at the time, it was listed for $3,875,000. Looks like the commenters were right: After a couple months of no love from buyers, the asking price for the 6,500-square-foot brownstone overlooking Fort Greene Park was cut last week to $3,625,000, a price that still seems like a stretch in the current environment. Think there’ll be any takers for the 25-footer at this new price?
193 Washington Park [Corcoran] GMAP P*Shark
House of the Day: 193 Washington Park [Brownstoner]
Ditto 7:58. Just not the snakeoil these brokers are selling here. Take a peak at what the comps have done recently just outside of these areas and see what has already happened. “We may already be at the bottom” What an A-Hole.
The steepest decline will occur within year one and we already stepped into it. No doom and gloom, no loss of all your equity, just a market correction due to an inflated market caused by an artificial increase in demand, namely mortagagees who shouldn’t have been qualified in the first place and investors who now have lost thier incentive flip a house in 6 months (cause they will lose thier shirts now). Back to basics. Bottom is irrelevant 7:51? By your own price estimation, I am guessing 875K is irrelevant to you?
Owner and broker are going crazy. No matter how much you post comments and try to pump, pump, pump, you’re not going to sell this house to anyone with a brain. Get over yourselves. There are much better deals to be had as either investments properties or homes ALL OVER prime brownstone Brooklyn. This house here is not one of them, it will SIT for a long time.
I for one will be looking for another second investment property as prices slide. I think a lot of people who have seen 200% equity in their homes will do the same.
Especially because most people know real estate in a city like NYC will always be good for the long-term.
Some of you will be my $3000 a month tenants by this time next year.
Last chance for the brokers to reel one in. They know what is coming. Thier ilk outside of NYC are already going through it. A steep slide followed by a relatively flat period. They won’t see this again for a few years.
We won’t know when the bottom is, 7:46. That’s the point.
We might be at the bottom now.
Oftentimes, especially in NYC the bottom has come and gone before you even know it.
“Bottom” has nothing to do with this property, however. It is an expensive, large townhouse in a great neighborhood. It will always be expensive. Sure it might go for 3 million at the bottom, but the different between that and list price isn’t going to make much of a difference to someone shopping for a brownstone in Ft. Greene.
NYC has become a world real estate market since the last recession.
Things ARE different now.
The bottom is irrelevant, 7:46. This house was overpriced from the second it hit the market, and has a long ways to go before anyone bites. It doesn’t even make financial sense for a developer.
Geez, brokers are going bonkers on this thread. Totally bonkers. Shoo! Go away.
Anyone spending $3+ million in Fort Greene better be getting a move-in renovated house, unless you get the Pfizer Mansion. For 600K less, you’re better off with the new Corcoran listing at 275 Adelphi–5 stories, 22′ wide, perfectly renovated with high-end everything.