House of the Day: 64 Prospect Place
Here’s a nice two-family in Park Slope for under $3 million. Then again, the Queen Anne house is smaller than your average brownstone so the asking price of $2,650,000 only gets you 2,910 square feet of living space. Nonetheless, the exterior and parlor floor have charm galore and the garden apartment generates $2,200 a month….
Here’s a nice two-family in Park Slope for under $3 million. Then again, the Queen Anne house is smaller than your average brownstone so the asking price of $2,650,000 only gets you 2,910 square feet of living space. Nonetheless, the exterior and parlor floor have charm galore and the garden apartment generates $2,200 a month. There was an open house yesterday. Anyone make it?
64 Prospect Place [Corcoran] GMAP P*Shark
what Carroll and Lincoln houses are you referring to, 5:17?
I really like this house. I do wonder about price like the rest of you. Slightly off, but related topic. Still curious about the house on Carroll. If that house could sell for deeper discount than 10% recently (and before recent negative economic news), seems plausable that this house could sell for less. They had roughly the same asking price (now carroll is much higher). And how about houses for sale by owner on Lincoln. Rumor is that they will also sell much lower than ask.
i hope this means no more bank branches opening up.
We all used to be investment bankers.
You know, until I started reading this forum/blog, I thought I was the only one out of work!! Do none of you assholes have a job???
I found The What:
– http://www.badmovies.org/movies/beneathapes/beneathapes7.jpg
I don’t think it is necessarily the most wealthy buying these over-inflated properties. I think it is people with some money and good credit who are overextending themselves and relying on rental income to make ends meet. These folks may be in deep doo-doo if their house price drops below the outstanding amount on their mortgage. This would not be an unheard-of scenario. It has happened repeatedly over the last seventy years. I think it will happen again in 2008. I’m not a pessimist but people are owing a lot of money out there and when it comes due, you just can’t sell your stamp collection.
Sure, lots of these places are not going to go for under $1 million again. So what? I think few people are expecting that. The question is are they going to go for $1.5 million or $2.6 million. You may think the difference between those two prices is small, but most people, even most wealthy people, would disagree.
We’re not looking at a 10% drop. It’s going to be a 25% drop, minimum That means your $2 million property is actually worth $500K less than you thought it was.
are not decreasing by 10%