House of the Day: 491 1st Street
While the listing is woefully lacking in interior photos, we’d be willing to bet that there are some pretty nice old bones inside 491 1st Street. (The listing cites “pocket doors, shutters, stained glass, front & back bay windows, parquet floors and woodwork.”) The four-story brownstone is lovely from the outside and happens to sit…
While the listing is woefully lacking in interior photos, we’d be willing to bet that there are some pretty nice old bones inside 491 1st Street. (The listing cites “pocket doors, shutters, stained glass, front & back bay windows, parquet floors and woodwork.”) The four-story brownstone is lovely from the outside and happens to sit in the middle of a row of equally charming houses. The house is a slightly smaller scale (18 feet wide, small top floor) than many of the houses that grab headlines in this part of town. Luckily, then, it’s also priced lower at an even $2,000,000. The big question, then, is what the renovation will run? If you can do it for $300,000 or $400,000, then this is probably a decent deal. If you’re talking $700,000 or $800,000, then this is a tougher sell.
491 1st Street [Townsley & Gay] GMAP P*Shark
Photo by Kate Leonova for PropertyShark
This seems high to me. Location is great, but the rest of it is on the small side. You can get a bigger place in an equally great location for this price when you factor in renovation
Will sell in a heartbeat.
And no, I’m not the broker. The house is just too charming from the outside. Someone will fall in love…
Choppity chop chop chop.
Priced right for the location and will sell close to asking. Get over it people.
Park Slope is the shizznit!
That 4th-floor is unusable. It’s the sloped roof/half-story that is more like an attic and storage space. So, $2 million for a 3-story house that needs a total overhaul? I don’t know. Maybe a bit high.
If you have the extra 500k to do the reno why not just buy the listing T&G have on Union between 7th and 8th? It’s a full sized brownstone, full of qulaity detail in very good shape. I can’t believe nobody has bought that place yet. I saw it, but really want out of PS. I can only assume it hasn’t sold because Townsley Gay never bother to hold open houses. If you want a house, make an appointment and go see it.
That 4th floor looks more like an attic.
2:19 here — yeah, I appreciate what 1:41 cut and pasted from curbed.com. I read the entire article in the paper this weekend and it wasn’t titled, “What slowdown?” but “A Mixed Picture”. I guess I can cut and paste otoo, if that’s how you get your news:
____
Yet there were some signs of caution in the preliminary numbers, the first indicator of the contracts signed in the spring selling season, which usually continues through the Fourth of July. The number of sales closed during May was 20 percent below May 2007, when the number of sales set a record for any single month. They were, however, above the sales volume recorded in May 2006.
At a number of celebrated recent developments, from the Time Warner Center facing Central Park, to 40 Bond Street off the Bowery in NoHo, condo owners have trimmed their asking prices on resales.
At 40 Bond, the resale asking price on a three-bedroom triplex was cut by $1 million in late May, to $10.9 million, or about $2,900 a square foot. Dennis Mangone, a broker at the Corcoran Group who recently had three listings in the building (one was just rented), said that competition between the sponsor (there is still one unsold one-bedroom ) and individual owners had “cannibalized resales†and that he expected prices to appreciate considerably in the next year.
At Time Warner, there are now 16 apartments on the market, according to Streeteasy.com, including three for which the asking prices were cut in the last few weeks, two of them by more than $1 million.
And there were signs of a slowdown in sales of smaller, lower-priced apartments, though there too the picture was mixed. May sales of apartments under $1 million were roughly flat compared with recent months, but off by nearly a third compared with the year before, according to the sales tabulation.
Kitchen above the parlor is traditional? Give me a break.