House of the Day: 72 Middagh Street
When we first wrote about 72 Middagh Street, an old wood frame house in Brooklyn Heights, back in 2006 it was in need of a major makeover both on the inside and out. That didn’t stop it from fetching the full asking price at the time of $2,395,000. Now, exactly two years later, the new-and-improved…
When we first wrote about 72 Middagh Street, an old wood frame house in Brooklyn Heights, back in 2006 it was in need of a major makeover both on the inside and out. That didn’t stop it from fetching the full asking price at the time of $2,395,000. Now, exactly two years later, the new-and-improved version is back on the market with the Corcoran broker who bought it in ’06. To our eye, she did a fantastic renovation job, preserving the original elements while putting in modern but tasteful kitchens and bathrooms. Given the private driveway and carriage house, the new asking price of $2,995,000 seems reasonable to us. The neighbors must be happy too.
72 Middagh Street [Corcoran] GMAP P*Shark
House of the Day: Woodframe on Middagh [Brownstoner]
If you assholes think that you will get a mortgage on this, you are smoking some major shit. 2.6 in 06 dress up the pig and sell for 2.9??!! They put ketchup on the shit sandwich but, that don’t change the taste. I don’t know if you the memo this shit is over. Come into 2008 the water fine.
Here read this fucktards. This is Mr. Buffet, I think he know something about economics.
Buffett: Bank woes are “poetic justice”
http://www.reuters.com/article/newsOne/idUSN0631767220080207?sp=true
The What
Someday this war is gonna end…..
I don’t care what neighborhood it’s in. This is the uglies house I’ve ever seen.
i agree 2:18 that is alot of headaches and work for a small profit
they could have bought a cd and made the same with less stress
Dang it, server ate my comment.
Downsides to this one, besides the hideous facade, are the firehouse next door (idling engines, sirens, NOISE), the firefighters who double-park their cars all over the sidewalk and create a pedestrian obstacle course every day, and the constant car traffic that uses this block of Middagh as an access point from the Brooklyn Bridge to the Heights. Surprisingly, the broker seems to have taken some of the negatives into account when she priced this. Not cheap, but not bad for Corcoran or for BH.
They sure to a LaChance on this one.
Isn’t this place right next to a firehouse? Gotta be annoying.
This is a great contrast to the South Oxford condos posted right before. Judging by the price, it doesn’t seem like they invested very much into the finishes, and yet this Brooklyn Heights building looks phenomenal on the inside. And by phenomenal, all I mean is: anyone walking in there would be happy to stay. It’s not about onyx bathrooms or la cornue stove crap, it just takes NOT being completely vulgar and tasteless, and just making a space feel good and look attractive. I don’t care if it’s martha stewart/suburban whatever. This place will sell, might even get a bit of a bidding war, purely because it’s attractive. (Attraction being kind of a major primal instinct in humans, like it or not).
I wonder if this is priced so low to get a lot of attention and start a bidding war? I know that sounds silly these days, but some brokers do prefer the strategy of underpricing, especially when a place is really charming.
the point John Ife was making was that unless the flipper-broker got it for a lot less than you guys think, this ain’t going to turn out to be a great investment.
he’s right.
even if they get the asking (not a slam dumk IMO), they make maybe $200K, after you take out costs.
not a lot, when you factor in the capital and risk involved.
don’t forget, it could sit there for a while or tank in price.
a lot of people don’t a crappy looking frame house, even if it is in a killer nabe
To 2:10 PM: Actually, the co-brokers are Denise and Debra LaChance. Must be identical twins. Guess they still like to dress alike!
Although it seems cheap, it may be priced this way for a reason: it sits directly next door to an active firehouse. Moreover, the brokers selling the house are also the people who bought and reno’d it. Frankly, I think, given its location, that they overpaid for it first time around. Having said that, everything’s a trade off, so perhaps the noise won’t bother some people.