House of the Day: 170 South Oxford Street
This house at 170 South Oxford Street in Fort Greene is a cutie, all the more charming for its unusual large front yard. The 4,000-square-foot brick house, which is asking $1,675,000, appears to be in excellent shape too. Probably its biggest drawback is its location. While quite convenient, these blocks between Fulton and Atlantic generally…
This house at 170 South Oxford Street in Fort Greene is a cutie, all the more charming for its unusual large front yard. The 4,000-square-foot brick house, which is asking $1,675,000, appears to be in excellent shape too. Probably its biggest drawback is its location. While quite convenient, these blocks between Fulton and Atlantic generally don’t command the same prices as those to the north. This place in particular has an uphill battle given its proximity to the Ratner-developed newish townhouses.
170 South Oxford Street [Corcoran] GMAP P*Shark
DIBS, since you’re the keeper of the Queen’s English on this board, the word is “definitive,” not “difinitive,” unless there’s a Bed Stuy variant I’m unaware of. I didn’t realize you were a hedgie, but if so, I’d love to see your returns. You are the single most inane commenter I’ve ever encountered on the internet, and I predict a rough five to eight years for anyone predicting the end of the downturn; especially if they deride someone who did call the implosion because they live in Lodi, NJ. Harsh, I know, but you kinda deserve a dose of poverty, for your terrific glibness in the face of this blowoff.
DIBS – congrats on your good investments, but clearly you are in a small minority. Hence the consensus on a need for a big correction.
Not all hedge funds Pierre. Some of us pursue relatively sane investment strategies.
Now back to the house: very nice property in a convenient but not so desirable location. FG is great but like MrB points out this part of it doesn’t command such pricing. Yes $1.6m is overly optimistic in this market; we predict significant reductions in the near future. How much? Not sure but a minimum $180K in our opinion…is that being generous?
DIBS were you really in disagreement with Ms Muffet’s current strategy? You seemed really confident ( which is alright) in your response that the recession is heading towards termination but nobody knows for sure right? We are not experts but it appears that MM is being very smart and prudent in waiting for prices to come down. Look in the NYT or Streeteasy and you will see that prices are trending down albeit slowly even here in almighty NYC. The brokers will say this is the BEST time to buy but then again they always say that for obvious reasons no?
The economic indicators definitely point to even tougher times ahead so can you please explain why MM’s strategy is probably not smart economics?
PS: The What’s rants are crazy but he is 100% right on Hedge Funds exsanguinating!
What–you have redeemed yourself in my eyes today. I love Kraftwerk. Doesn’t make you right about me, but does show some admirable musical diversity on your part.
Thanks Heather – but I honestly think that if you want to opine on a question like mine, you should be smart enough to know the difference between a HELOC and an adjustable rate mortgage.
I honestly think if you have an adjustable rate mortgage you should be smart enough to have an opinion about when to get out of it. Historically, interest rates don’t go much below 6% on mortgages for a 30 year, like ever… but they do go up considerably. Therefore, if they’re near the bottom… well, you figure it out.
I guess we’ll be having a “16% Party” When are they going there Asshat?? Being early or late is the same as being wrong…even worse in the bond business!!!