House of the Day: 455 Henry Street
This house at 455 Henry Street has a very nice feel to it (or at least the renovated owner’s duplex does), but the fact that the house is less than 17 feet wide and has two rental units make the asking price of $2,250,000, in our mind, pretty aggressive. The house will be delivered vacant…
This house at 455 Henry Street has a very nice feel to it (or at least the renovated owner’s duplex does), but the fact that the house is less than 17 feet wide and has two rental units make the asking price of $2,250,000, in our mind, pretty aggressive. The house will be delivered vacant but converting it to a one- or two-family house won’t be free. Thoughts?
455 Henry Street [Douglas Elliman] GMAP P*Shark
Why would there not be emotional factors with homes priced over $2 million? Why would someone who owns a valuable house not have emotional ties to it that might make them price it unrealistically high? Where is the cut off for emotions?
No, I’m not kidding.
Inflated prices over $2mil for “emotional reasons”? You gotta be kidding. There’s nothing emotional over a property in a highly inflated area among people who sell/buy million dollar houses.
I think it’s usually inaccurate to say the owners are looking for a “sucker.” Much more likely is that they have a too high asking price for all kinds of emotional reasons, some quite understandable if not practical — wanting to get their money back on a renovation, wanting to get in on a boom that they’ve miss. Other emotional reasons are actually understandable too if also impractical. These are people’s homes. They are attached to them. They’ve put their sweat money and into them; they’ve lived their lives in them. They feel they are worth a certain amount despite what experts may tell them. This happens all the time all over the place. When it does, it has nothing to do with trying to take advantage of a sucker.
Hahaha, people with $800K cash (plus debt) to throw on a brownstone. Sure there are but not many. In fact there are less now than say, 2000. Of course, the owners of this building look for such a sucker. Suckers are not enough to sustain inflated prices–you need credit bubbles for that.
Well, Jonathan does do that occasionally. Those places are still appraised considerably lower here on Brownstoner.
how about posting some properties of the day that are actually priced to sell
I’d live in this neighborhood in a heartbeat. My favorite part of Brooklyn. If this is fringe, sign me up for the full flapper dress!
Seems small-ish but lovely. Right now the market is so hard to call though. I think it will go for a decent price but will probably take a bit of time to sell.
And what NorthHeights is saying squares with the buyers I’ve known personally.
North Heights – thanks for the newsflash. So, you’re of the opinion that there are people with $800,000-$1 million in cash ON HAND who will think this brownstone is a great buy? I agree that there are qualified buyers looking in Cobble Hill, but not for this house, and not at this ask. The buyers you have described have understandably higher standards, and hopefully are holding out for a lot more home for the money. I look forward to that bidding war at $1.5 million.