House of the Day: 557 7th Street
It’s fair to say that the current owners of 557 7th Street got a good deal when they purchased this limestone house at 557 7th Street in Park Slope for $1,460,000 in 2006. According to the new listing, they’ve done some “updating” work in the meantime and are trying to fetch $2,200,000. Before they try…
It’s fair to say that the current owners of 557 7th Street got a good deal when they purchased this limestone house at 557 7th Street in Park Slope for $1,460,000 in 2006. According to the new listing, they’ve done some “updating” work in the meantime and are trying to fetch $2,200,000. Before they try to do that, they should try to get up some more photos; it’s hard to tell from the one photo provided what the 16-foot-wide house is really like. Do you think they have a shot at getting this asking price?
557 7th Street [Brown Harris Stevens] GMAP P*Shark
Petebklyn:
There are many that sold for less. But that is history.
The point is, you can get a bigger house in an equivalent or better location RIGHT NOW just by paying asking price.
Sure somebody might be dopey enough to buy this for $2.2M (It’s a free country) but that is not what the market is telling us.
Strange–BHS usually posts very good photographs; this one, apparently taken with an on-camera flash, should be an embarrassment.
CHRISTOPHER “If they need to sell for financial reasons then they shouldn’t have bought and renovated in the first place”
How are these people suppose to know that
and what is wrong with aiming high in the 1st place?
almost 3000 sq ft. Plus sounds like a finished cellar rec room beyond that . I can’t imagine any family feeling cramped in this space. Show me move in condition park block house that has sold for less than this.
We have seem plenty of these so-called ‘very narrow’ houses show up on Brownstoner – will all the wise-crack remarks and then sell for high prices.
Yeah Ringo, 1.85 I think that sounds like a reasonable estimate of what would get this place sold. Still a pretty decent sum!
Christopher,
While I understand why you’d want to know their motivation is it REALLY any of your business?
Seriously, you either want the house or your don’t.
I’s love to put my house on the market just to see the brownstoner commentary. It was HOTD about 5 months before I bought it and that was realy interesting to read.
In the olden days — like last year — I believed that asking below-market prices resulted in a bidding war and above-market bids in a single weekend. I did this myself twice with excellent results.
Now? Nobody wants to pay close to asking. So if I wanted $1.85, I’d put the asking price at $2.2. Maybe that’s what is going on here. Nice house, great location, low taxes I’m sure, decent floorplan. 1.85 sounds like a good deal for buyer and seller. I have spoken.
I think it should be required for sellers like this to divulge their reason for selling….
… bought in 2006, renovated, and now selling? Why buy and renovate just to sell within 3 years?
And don’t give me the job loss economy line. If they need to sell for financial reasons then they shouldn’t have bought and renovated in the first place and should get back only the previous purchase price. Maybe +10% to be nice 😉
I’m in an angry mood for some reason….