House of the Day: 599 5th Street
This new listing at 599 5th Street will be an interesting barometer of the market. It’s a beautiful limestone house on a park block that’s got tons of detail and is in excellent shape; it’s the kind of place that should have almost universal appeal. We also like the fact that the two-story extension solves…
This new listing at 599 5th Street will be an interesting barometer of the market. It’s a beautiful limestone house on a park block that’s got tons of detail and is in excellent shape; it’s the kind of place that should have almost universal appeal. We also like the fact that the two-story extension solves the perennial problem of how to fit the kitchen on the parlor floor. The asking price is $2,400,000. We can’t wait to see what it sells for. There’s an open house on Sunday from 1 to 3 p.m.
599 5th Street [Brown Harris Stevens] GMAP P*Shark
It always makes me sad to see a backyard butchered like this, no matter how nice the resulting kitchen is. How many people would really rather have the extra interior space when there is already completely unused basement space rather than a large yard?
The yard dimensions in the floorplan include the outdoor corridor, so it’s really more like 17ft x 20 ft. Sure, naysayers can just say “go to the park”, but you can’t eat breakfast next to your flower beds or plant a whole garden in the park. And I say that as someone with a cramped 20×20 yard.
It always makes me sad to see a backyard butchered like this, no matter how nice the resulting kitchen is. How many people would really rather have the extra interior space when there is already completely unused basement space rather than a large yard?
The yard dimensions in the floorplan include the outdoor corridor, so it’s really more like 17ft x 20 ft. Sure, naysayers can just say “go to the park”, but you still can’t eat breakfast next to your flower beds or garden in your backyard. And I say that as someone with a cramped 20×20 yard.
Mr. B–slopefarm’s got your quote of the day right up there at 2:54.
Thanks guys. I’m trying to control myself and at least limit my posts. Gotta make the donuts to buy our house (even at a deep discount)!
Welcome back Miss Muffett. Its nice to have you here.
Miss Muffet,
I did not intend to include you among Team Bear’s less sportsmanlike members. Sorry you fell off the wagon. Is there some kind of Brownstoners Anonymous group we should know about?
Just a side note: you know it’s bad when people thinking another 10-15% slide are thought of as “bullish”.
If this place, which is cherry in my view, does go for 20% or more below this price, it’ll portend ill.
I guess that is what it comes down to…being “bullish” means believing/hoping that things remain about as they are for the forseeable future. not too much growth predicted out there.
Falling off the wagon again: Actually some “Team Bear” types are not necessarily saying prices will crash by 50% but that, given a run-up of 300% in 10 years, it’s not inconceivable, and furthermore, many owners (those who purchased pre-2003 or 2004), will probably just find their property’s value back to where they started, if not more (i.e. if they purchased before the real boom started). Given the implosion of just about every other asset class, and the classic lag time of NYC, it seems all but certain that that a significant correction in NYC RE prices is in order, and it’s barely begun. All but the most bullish (sebb) concede prices will go down further – the only real question is just how deep it will be, and how long it will last. I do not relish with glee over those who will suffer in this climate (since it’s affecting those close to me) but it does seem the writing has been on the wall for a long time, and is just getting more obvious.