House of the Day: 615 2nd Street
This house at 615 2nd Street in Park Slope will be a nice test for the upper end of the market. It’s a big ole limestone (4,660 square feet) with lots of original detail that appears to be in excellent shape. (Our one quibble based on the photos is a kitchen that, while large, doesn’t…
This house at 615 2nd Street in Park Slope will be a nice test for the upper end of the market. It’s a big ole limestone (4,660 square feet) with lots of original detail that appears to be in excellent shape. (Our one quibble based on the photos is a kitchen that, while large, doesn’t quite seem to match the high-end level of the rest of the house.) Which contributes to our wondering how this place will ever fetch the $3,495,000 asking price. Waddya think?
615 2nd Street [Brown Harris Stevens] GMAP P*Shark
Much prefer the signed in version!
I saw a research piece by one of the main investment banks today entitled “superbubble”. It compared what has happened to property in all of the developed nations.
Part of the study was a comparison of the international property index. The index started at 100 for all countries in 2000. The index hit 170 for the US and then turned down, but interestingly Ireland, UK, Italy,France and Spain all went higher than 170. Spain went to 250 and UK and France went over 200 also.
It found that the average length of booms went for about 6.25 year and bust 4.25 year but the current boom lasted 14.25 years, and while average upturn made 39% percent and downturn lost 20 percent, the current boom average was a wopping 117 percent.
Affordability is most interesting of all. Almost all countries overshot in affordability. The US though came 13th of the most unaffordable countries (being 10% over a notional 100) and with 6 counteries more than 20% over.
The US is not alone in its problems. This is a global issue and when you compare the US in some respects, we are not doing that badly.
I think today’s obsession with kitchen and bathrooms will be tomorrow’s hot tub on a deck with ferns and a key party. Or something. You don’t actually “need” a 100K kitchen to cook anything. I’m not immune to kitchen and bathroom porn by any means, but it’s a little out of control, part of the bubble, again.
paluka, I think you are full of meatloaf.
denton you should know by now that if you marry for money, you end up earning every cent.
bxgirl, there’s always marriage 🙂
I know plenty of people who can afford a $3.5M house and are very interested in the kitchen. New York is full of regular people who have made a lot of money in a career- $3M homes aren’t just for trust fund people and high society types.
I like the kitchen cabinets but the pink sink’s gotta go! I think just taking out the booth, putting in a smaller table and different chairs would make a world of difference. Oh- and the wallpaper- gone! But it looks sort of englishy (is that a word?)to me.
The open floor plan is really gorgeous but on the other hand I couldn’t afford this place in 10 lifetimes so any comments I make about the house are completely futile anyway. 🙂
I recall in the last real estate/economic implosion, the mid 1970s, I was a young ambitious 17yo working in D’Agostinos. I was pretty happy as I was the youngest asst store manager they ever had and I was making enuf money to live comfortably in a new doorman building on the UWS. Not bad for a teenage dropout runaway.
I was in a store on 76th and Lex which served Park and 5th Ave, and I was fortunate enuf to meet and become close to a young girl who had many friends in the area (she attended a prestigious private school on the UES as well).
She introduced me to a number of her friends who lived in fabulous UES apts, many of which I visited. But the recession/depression still affected many of them. My lovely young GF pointed out one family in particular with a phenomenal huge kitchen, which was probably bigger than my entire apt, and told me they were dealing with the recession by cooking twice a week.
Prior to that, they went out for dinner every night.
So, there is a difference btw the really rich and the rest of us.
I’m not sure 3.5 mil for a house in PS is that rich. But we’ll see, right?
splitting hairs between the really rich and the really really rich is a fool’s errand. The bottom line is that the upper classes in NY, it may be a little different in foreign places like California, are not interested in kitchens or in cooking, that is something the upper middle class is in to. I am hedging my bets in this case because it is Park Slope, which is only very lately a hangout of the really rich.
It goes without saying that a 30 million dollar place in the UES would have a hideous kitchen, I think it is de rigueur.
Do you know what Bloomberg serves his dinner guests? meatloaf.