House of the Day: 41 St. Marks Place Revisited
Are we surprised that 41 St. Marks Place just underwent its second price cut? No. Do we think there will be more to come? For sure. The listing has been a disaster from the beginning. After hitting the market in mid-January for an insane $3 million, the three-family house was cut almost immediately to $2,650,000….
Are we surprised that 41 St. Marks Place just underwent its second price cut? No. Do we think there will be more to come? For sure. The listing has been a disaster from the beginning. After hitting the market in mid-January for an insane $3 million, the three-family house was cut almost immediately to $2,650,000. The 3,600-square-foot has now been cut again to $2,450,000. In addition to the mispricing, the presentation is abominable—Elliman should be embarrassed about this one. The crappy, overexposed photos only work against it. We took about five seconds to press the “enhance” button in iPhoto and improved them to what you see above. But who took the photos to begin with? That kid in the back hallway? This price has a ways to go, in our opinion.
41 St. Marks Place [Douglas Elliman] GMAP P*Shark
HOTD: 41 St. Marks Place [Brownstoner]
3rd avenue in 5 years is going to be one of the hottest areas in nyc.
mark my words.
the next avennue b.
And only 2 blocks from the hooker stroll on 3rd Ave.
The broker is the owner’s daughter and she has to pay her commission split back to him. That’s her kid Dmitri too
she ain’t $2M cute
hey I might know somebody in the market for a kid/house two-fer. do you think all the vaccinations are up to date? it can really mess up the appraisal if that stuff isn’t in order.
you didn’t factor in the tax deduction, 1:57.
after that, it’s actually much cheaper to buy this place.
your math is off. bigtime.
and then when you want to sell in 20 years, you’ll make a hefty profit instead of pouring even more thousands of dollars into the drain better known as your landlords wallet.
new forbes list of 400 richest people came out today.
i bet none rent their homes.
Wrong side of 4th for that kind of scratch. Keep chopping.
If you use the numbers the broker provides, and assume a 2MM mortgage, it’s significantly cheaper to rent the place than to buy it. Forget about the half a million down payment (which is a lot!) — Your 2MM mortgage alone will cost you over $8,000 a month after your tax write-off. If you get about $5,000 back in rent then you’re looking at a net payment of $3000 a month — the same as the rental cost for the owners unit. But – if you own it, then you have to pay to insure it, heat it!!, clean it, pay taxes, shovel the walk, etc. Much better deal to rent it.
I guess the broker or owner has been visiting this site.