House of the Day: 85 State Street

The first and only time we’ve discussed 85 State Street was back in March 2005 when the five-story brick townhouse was listed as an Open House Pick with an asking price of $2,500,000. That turned out to be a very good price for the dude who bought it; six months later he flipped it for $3,200,000 to a developer who proceeded to do a modern gut renovation of the place. Although we have no reason to doubt the quality of the work in the house, the aesthetic result just doesn’t do it for us. For $5,500,000 (the asking price), we’d want a little more character. If we wanted to spend that kind of dough on something modern, we’d probably opt for something more like this. Apparently, we’re not the only ones: The single-family house has been on the market now on-and-off for more than a year, starting at $5,800,000 with Corcoran, moving to $5,950,000 with Douglas Elliman, before moving to Halstead last November where it’s gradually edged its way down to the current asking price of $5,500,000.
85 State Street [Halstead] GMAP P*Shark
Open House Picks 3/11/05 [Brownstoner]