House of the Day: 357 Pacific Street
It will come as no surprise to long-time readers that we don’t tend to like renovations that try to maintain a traditional style but that end of looking too shiny and new; we like to see a little authentic imperfection in a brownstone—a creaky floorboard, an plaster wall that’s not perfectly straight, a crown molding…
It will come as no surprise to long-time readers that we don’t tend to like renovations that try to maintain a traditional style but that end of looking too shiny and new; we like to see a little authentic imperfection in a brownstone—a creaky floorboard, an plaster wall that’s not perfectly straight, a crown molding that shows its age. So, while the owners of this new listing at 357 Pacific Street clearly put a lot of work into their renovation, the place just isn’t for us. Which is probably a good thing, since we couldn’t swing the $2,499,000 price tag anyway. We’ll see whether the 17-foot width hurts the single-family home’s chances.
357 Pacific Street [Corcoran] GMAP P*Shark
whatever class it is, I actually really like the interiors.
forget about wanting “original baseboards” or whatnot, my one requirement is a modern kitchen and that one looks like a beauty.
I think it still retains the charm, but just looks cleaner – like the sellers filled in the cracks and slapped a fresh paint job on. The location isn’t my cup of tea, but the house, not bad at all..
t6, I never tried to define ‘rich’, I was only pointing out that any number of people can afford these houses, and do, because they are being bought and closed on. I sat on the board of a coop in PS for a number of years, so I see where people get their money. Anyway, dibs is right, people can either afford things or not.
t6, someone is buying these houses.
If you close for $2 million, and put a million down, you could pull off the mortgage (30 yr fixed @6.25%) with an annual income of $350-400k.
Not out of the question for a 2 income family in NYC. I’d call them upper middle class, for sure, not middle. Not teacher/fire/police middle class. But banker/lawyer middle upper middle class.
To me rich means not having to go to work tomorrow. But that’s a whole other discussion 🙂
I think this whole “middle class” argument is ridiculous. Either somebody can afford something or they cannot.
Oh and by the way, the Manhattan transplant argument to maintain your “middle class” status is bullshit.
The kid who inherits $500 million… is he rich? According to you, no, because that was a one time thing and he only makes $40,000 at his job.
The sale of the overinflated property in Manhattan *enriched* the seller… i.e., made that person RICH. A $2 million house is NOT middle class, no matter how you slice it. It very amusing that folks paying this amount of money want to cling to being “connected” to something they are not. I guess it helps ease the guilt as the watch the *real* middle class lose their homes and forced out of the city because of the housing market they’ve created… “I’m middle class and I can afford it.”
Amending my post, 433 Pacific Street, previously a HOTD, appears to be off the market.
411 Pacific Street, also a nearly-new renovation, is still available for a comparatively cheap 2.475:
http://www.brownharrisstevens.com/detail.aspx?id=993912
Denton… really? You’re holding on to “middle class” for a place with a $14,000 monthly mortgage payment?! (not counting the 1/3 of a million dollar down payment required to get that monthly payment).
OK — I’ll let you have it. Middle Class includes folks that have a family income of $500,000 a year. It’s NYC after all! That’s only like $75,000 a year in Omaha.
denton, in additional to Manhattanite transplants, I started seeing the trend with some Long Island folks as well. A few of my friend’s parents are selling their rather large houses in LI as soon as the kids are out of the house and off to college, and buying either condos or smaller brownstones in Brownstone Brooklyn.
t6, as has been said by others, a lot of people sell Manhattan properties that have appreciated greatly from what they paid and use the profit to buy a house like this. I’ve also noted how many people get family help when buying.
Also, you forget that there are many two income couples in NYC today. Certainly they’d be rich by national standards, but not so by NYC standards.