House of the Day: 102 Windsor Place
The brick house at 102 Windsor Place in Windsor Terrace is a cutie from the outside and has lot of charm on the inside as well (don’t love the kitchen reno though). It also has a lush garden set on its 160-foot-deep lot. The house itself, however, has only two stories above grade, making the…
The brick house at 102 Windsor Place in Windsor Terrace is a cutie from the outside and has lot of charm on the inside as well (don’t love the kitchen reno though). It also has a lush garden set on its 160-foot-deep lot. The house itself, however, has only two stories above grade, making the asking price of $1,525,000 seem steep to us. To put it in some perspective, the closest comp—112 Windsor Place—sold for just $1,085,000 back in 2006. Stretching?
102 Windsor Place [Orrichio-Anderson/NYT] GMAP P*Shark
Actually, I do think things have changed in the last 90 days – these last few months have really seen a shift even in broker sentiment. I know since we are actively looking to buy (we sold before the credit crisis hit hardest), and are seeing many places lingering, suffering price cuts, and brokers uniformly telling us we’re lucky to have already sold since in this environment it is a major liability to have to sell in order to buy. There are always properties that are anomalies since, after all, each property is different, but this particular house is quite average except for the big lot – but whether that is worth a premium of several 100K seems very doubtful to me.
I don’t remember that much about the Howard place, just that the price jumped out at me. Im not suggesting the market hasn’t shifted from a few years ago (which is why I didn’t mention the other houses that have sold on Windsor for more than this price last year) but I don’t believe much has changed over the last 90 days…credit conditions have been about the same.
Just as everyone else can say this house is overpriced, I think Im entitled to say its not that far off based on what is selling. Windsor Terrace inventory is still very scarce from what I can see and there seem to still be people out there buying.
well priced
Mrs. Limestone – was the Howard street house renovated out the wazoo? Also, houses that just closed mean that they probably had the sale several months ago and a lot has changed since then – the market really is shifting quite a bit, so using comps from what was arguably a peak moment is not necessarily an indication of what people will buy right now. For many reasons, the buyer pool is shifting (credit problems, uncertainty, folks waiting by the sidelines, NYC market finally showing weakness, etc.)
A house on Howard just closed for $1.395 and it only had 1600 sq feet and Im assuming they didn’t have a 160ft lot. I’d imagine the same type of buyer would go for this house.
Miss Muffett:
I know someone who rented the top floor of a house on this block. The center of teh floor was a little dark as it got no light. The front of the housee was north facing and never got any direct sunlight.
Kitchen definitely needs an overhaul and only 2 stories is a bit of a bummer. Lot is the key plus, but for some people, maintaining that amount of yard could be daunting. Agree that it’s way overpriced, but it’s a cute house. I do wonder if it’s dark inside?
$1.215MM and free spaying/neutering services for your pets for one year.
$1.225 million. (This feels like “The Price is Right.”)