House of the Day: 29 4th Place
The asking price of $1,695,000 for the three-story house at 29 4th Place in Carroll Gardens looks like a reasonable price on its surface. The catch? The brownstone is stuck painfully somewhere in the late 70s or early 80s. It’s not in terrible shape, but it’ll definitely take some money and effort to bring it…
The asking price of $1,695,000 for the three-story house at 29 4th Place in Carroll Gardens looks like a reasonable price on its surface. The catch? The brownstone is stuck painfully somewhere in the late 70s or early 80s. It’s not in terrible shape, but it’ll definitely take some money and effort to bring it up to a level most buyers will want. The deal has a kicker though: An extra 1,800 square feet of air rights. Can you say rooftop addition?
29 4th Place [Corcoran] GMAP P*Shark
Inigo – are you a brit?
DIBS do you have any other suggestions for a place to keep $$ these days for the short term i.e. 6-12months? Gold?
Also Adam is a good guy I am sure but it is his job to seem busy with mortgages plus as you say yourself refinances are not really a good indication right?
This is a messed-up house that was chopped up into three lousy apartments. What would I pay for it today? Not a lot, that’s for sure.
I actually think this house will be unsellable for now. You would need mostly all-cash to buy it, and no one with that much cash on hand would settle for this.
We have to re-adjust our thinking to suit the present financial disaster reality. NYC real estate is teetering badly. The city may lose thousands and thousands of the best jobs. Properties like these, unattractive re-muddle jobs that have to be undone and redone, at great expense to the new owner, will be the first to lose their value. big time.
I love the place blocks, but on 4th place your getting close to the highway (with assoicated noise) and far from the subway (to be renovated F train at Smith & 9th or F train at Carroll St).
Also, I live in a 16.5 foot wide townhouse which seems much roomier than this 17.5 foot tonwhouse because it has a center stairway. It looks like there’s a hallway wall in each floor of his house which is making everything look cramped.
Correct. Money that’s earmarked as a downpayment for a home purchase in the near future; say 6-18 months, should NOT be in the stock market.
Ms Muffett I believe time and logic are on your side just continue to be patient. Rent for now and keep saving $$–only problem with saving is the interest rates are too low way below inflation and the markets are too shaky to invest. I guess that leaves you again with saving & CDs unfortunately:( Anyways with time ” all will be revealed” so stay positive.
yesterday Adam said he was incredibly busy making loans. Also, the amount of mortgage applications skyrocketed as the data was announced yesterday. granted, many of these are refinances but it points to a stronger mortage market that will benefit those who need to lock in and reduce their payments and those (qualified) to buy a house.
I am with Miss Muffet. In 1990, things got very bad and this is expected to be far worse. People who bought in all these 30-60% sold new condo buildings will have it the worst. If they have to move, they will have to be able to afford to rent (afford, because rent will not cover their nut) or be foreclosed. The developers will pay the fees for the unsold units, or at least not on a timley basis, so the buildings will be far less luxurious than promoted. And I bet the city will come after all those folks who are not paying their big R/E tax bills because the building doesn’t have its abatement (because the developer has not finished the entire building and won’t until the market comes back).
“Nobody knows how the current ‘crisis’ will pan out (if you did you’d be mega-rich”.
Peter we know how this crisis is “panning” out right now because banks are failing and it is very very hard to get a loan plus lots of people are getting laid off (2 of them my friends from college courtesy of Bear Stearns). So yes while
we will not be rich for sure we know things are bad and are gonna get worse we just don’t know where and when the bottom will arrive.
Sorry plus we disagree on the pricing of the HOTD also. Oh well, la vie continue LOL.