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
I don’t think it will go for $2.2 MM. It will go higher. I want to go to the open house on Sunday and see for myself. I hope there’s no hidden problems like a fugly bathroom or something.
manofelt–you are right I think. This selling at 2.2 would still be a good price, but not anywhere near peak pricing.
mopar…the front parlour looks roomy enough with the sofa and ottoman/coffee thingamajig. That said, since the hallway opens into the “living room” I’d close up that opening from the hallway into the front room and you could put two great sofas facing each other with a table in the middle, kind of a love seat arrangement. you know what I mean. The opening into the hallway is useless and makes for bad space.
adding to my point, i believe that this house is within ps 321 whereas the 15’er was in ps 39–that’s worth something too.
so unless this sells for well above asking, hasn’t the sky already fallen a least a bit and use of the word ‘bull’….well, bull?
‘team not-so-bear’ maybe seems a bit more appropriate.
So Dave would you say anything over 2.2 is a good sign? Below what number on the down side would you be surprised?
My thinking is that 2.2 is a “tread water” point on this one…
The front parlor is 11.1 feet wide, the living room is 13 feet wide, according to the floor plan. So, living room will, as THL points out, comfortably accommodate a couch and TV.
Front parlor will be an uncomfortable affair. I recommend spindly-backed chairs and sitting upright and balancing a tea cup on the knees on formal visiting days.
Dave you may be right @ the 15% off asking but to us that will be a significant cut given that such grand homes use to all sell @ or above asking just 2 years ago. We will be watching this one closely…
I’m not sure i totally understand the whole ‘team bull’ ‘team bear’ concept.
a year or so ago this would have listed for 2.8 or more and sold at or close to asking.
2.4 is already 15% below peak. if it sells for 2.2 (which it might) that seems like a pretty far way from peak.
for reference, didn’t a 3-story 15’er on fifth between 5th & 6th went for 1.9 last year. it was cute but not remotely in the same league as this.
As someone in the market for a brownstone, and after having visited many houses of all widths, I can tell you that, in my opinion, there IS a marked difference in feel and space between the parlor rooms of a 17′ and a 20′ house. I’m not saying that a 17′ wide house is small or unusable–that’s ridiculous. I’m simply saying that there IS A DIFFERENCE between 17′ and 20′ and I’ve come to the realization that I prefer the feel of a 20′ footer, especially at the $2 million price point.