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]
Wow, what a difference some paint and siding can make. They did a nice job inside too. I liked the original wood on the garage, but understand why you would paint it. The private yard and carriage house would sell it for some, no matter what they did or didn’t do inside. Even with the slowdown and wariness of the real estate market today, I would think that an unusual piece of property like this, priced very well for the area, may even go a bit higher than ask. Mr. B, please do an update on this one.
This, is of course, just my layperson’s observer opinion.
reahab it’s called alternate side parking for street cleaning and it occurs on every block in the city
Those beams and fireplaces are some yummy goodness. The garages are making me tingly. I also like the contemporary tub upstairs.
Actually it seems almost underpriced–which is bloody refreshing. I mean, how much is a parking space alone worth in the Heights?
Speaking of which, maybe a Heights resident can answer this for me: I was walking through the hood and saw a street sign (maybe on Remsen?) that said “Parking on Tuesday ONLY.” Why would you only be allowed to park on a street one day a week? Anybody?
I know this is a great location and is probably worth the $$ because of that, but, IMO with it’s pathetic little entranceway, undersized windows, and strange ’20s top profile this is a REALLY ugly remuddled house.
No accounting for taste, I guess.
John Ife, when the $100,000 per floor prices are thrown around on Brownstoner it is referring to a gut renovation where you are also dealing with plumbing and electrical. As someone who recently did this, I can tell you that $100,000 per floor is the low end of the spectrum on these renovations. If you are doing your own contracting you could come in lower but must are not up to that task. I would be willing to bet that they did very little beyond cosmetic renovations otherwise they would not have been able to make a profit.
1:52,
Both the adjective and the noun are probably accurate 🙂
johnife… aren’t you a clever dick.
The point is that you can sell a phone booth for $million if it’s in the right neighborhoods (‘great light, good access to telecommunications’).
99.99999% of the people of this country would laugh at anyone who pays $2.9 million for this house.
So, doesn’t this kind of give the lie to not only those myriad “at least $100k per floor” renovation numbers that are thrown out generally on this site but also to the million to two million dollar reno numbers that were being thrown around here when this property was the HOTD? $3 million selling price now, less the sum of a 2006 $2.4 million purchase price plus over a year’s worth of carrying costs means the buyer is either losing money (which I very much doubt) or accomplished this very nice looking restoration for about $200k to net a 5% profit.