House of the Day: 130 South Oxford Street
This 12.5-foot-wide brick townhouse at 130 South Oxford Street in Fort Greene was purchased for $625,000 in 2003 and subsequently gut renovated in a way that succesfully injects a clean, modern vibe into the 19th-century home without obliterating the sense of history. Whether it merits a mark-up to $1,550,000 is another matter, one that the…
This 12.5-foot-wide brick townhouse at 130 South Oxford Street in Fort Greene was purchased for $625,000 in 2003 and subsequently gut renovated in a way that succesfully injects a clean, modern vibe into the 19th-century home without obliterating the sense of history. Whether it merits a mark-up to $1,550,000 is another matter, one that the market will have to decide. In the meantime, we’re left to wonder if one of the owners could be a stylist or designer.
130 South Oxford Street [FSBO] GMAP P*Shark
“what’s wrong with the location?”
Wrong side of Fulton.
“I like how BHO pulls his math out of his ass.”
Please keep your preoccupation with ass offline, DIBS. The math is straight forward. $640/SF spread out over a 20-foot facade aint quite the same as that squeezed into 12.5′. Three quarters is generous. I could have busted out with two thirds which is still generous. 12.5′ is 63% of your average width. Pure $/SF has its flaws.
***Bid half off peak comps***
This price really is nuts. Forget comparing to Park Slope, how about comparing to 170 South Oxford Street, which is just down the block and sold a couple of months ago:
http://www.corcoran.com/property/listing.aspx?Region=NYC&listingid=1451712
170 had 4,000 sq. ft., was renovated (if not gut reno), had a beautiful yard and sold for $1.5 million. Based on that comp alone, this thing really shouldn’t be selling for much more than a $1 million…but regardless, how on earth do the owners think it will appraise for over $1.5, when the neighbors just a bit to the South only got $1.5 for a much larger place? This ain’t the bubble years, when appraisers were willing to assume monthly price increases….
Ditto for me on BrooklynGreene’s comment. I’m confusing this one for the one for sale a while ago. All the 12.5 footers seem to blend together. This one appears to have a cooler layout.
I’m going to have to agree with BHO for once, sort of. This one goes for 30% off to get a deal done.
If it’s now FSBO, maybe the owners are just putting their line in the water to see if anyone bites. Doesn’t sound like a motivated seller. It’ll probably languish.
I like how BHO pulls his math out of his ass. If he pulled his head out first he might start making a bit more sense. In this case though he is right.
Oh, geez, I’m sorry, I’m thinking of the OTHER house for sale a couple doors down! Sorry, Kids! The eyes/brain aren’t what they used to be. I haven’t even looked at this house on the inside before. 🙂
I thought we hashed it all out on this house a month or so ago when it was one of the open house picks…no?
Anyway, the house was renovated and despite the narrowness, has a charming backyard that doesn’t feel small. The rooms are cute and do-able…
Now…I thought the house was listed at $1.3 tops. That was when the gals had the listing. Now, it is for-sale-by-owner. I wonder why they raised the price in this market.
Anyway, I like the house and have been in and out of it for parties, a hour tour, open houses over the years and have to say the couple that renovated it (I could swear it was bought by the current owner in the 90’s NOT 2003 as stated above). That said, it would be a bit narrow for my taste but heck, I wouldn’t mind a huge drawing room 80×40 (with the staff to keep it clean, tidy and gorgeous)…but since that won’t be happening any time soon to my knowledge, I’ll stick with our 21-wide house. I like the square-ish rooms upstairs and the house isn’t narrow and very deep so it’s not dark in the middle like some houses.
“and it’s not the best location either”
lucybb, what’s wrong with the location?
“$540 a square foot”
$540 X 0.75 (multiplier for 12.5′ widths) = $405 a square foot. And even then…
***Bid half off peak comps***