House of the Day: 156 Hicks Street Revisited
When we wrote about 156 Hicks Street last October, it was priced at $2,875,000. At the time we wrote the following: “156 Hicks Street is less than 16 feet wide, and is in need of some TLC. The raw materials are there (woodwork, mantels, etc.) but the $2,875,000 asking price still’s not a lay-up, primarily…
When we wrote about 156 Hicks Street last October, it was priced at $2,875,000. At the time we wrote the following: “156 Hicks Street is less than 16 feet wide, and is in need of some TLC. The raw materials are there (woodwork, mantels, etc.) but the $2,875,000 asking price still’s not a lay-up, primarily because, well, nothing’s a lay-up in this market.” With hindsight, saying it wasn’t a lay-up was something of an understatement. Since then, there have been seven price cuts, the most recent of which last week brought the asking price down to $1,799,500. At some point soon, location will have to carry the day!
156 Hicks Street [Brown Harris Stevens] GMAP P*Shark
House of the Day: 156 Hicks Street [Brownstoner]
BO, with no kitchen it will require a construction loan, not a commercial loan. And that is zero problem.
But that’s not the issue. Thank you, Dave, for looking up the CofO.
I’ve never even heard of that — one family and nine furnished rooms!? So they used a hot plate or shared a kitchen? Why, was it illegal to have roommates back then? Wacky!
Couldn’t this be easily changed? It’s a one family. Unless……..OMG, unless they are all still living there!
I’m sure quite a story to it. Will take a neighbor to pipe in and let us know history.
Propshark show lis pendens and foreclosure actions. Looks like guy inherited 20+ years ago. And eventually took out big mortgages. Also owns next door. Probably too complicated for most people to get loan, clear title, etc. But certainly worth the price. In hot market someone would have been more daring – but in this market these are the ones that bring the average sales prices way down.
This is a tough one. With that commercial loan requirement hard to say what this is actually going to go for. On one hand you can’t buy a rowhouse in the Heights for anything close to this, but on the other hand it appears what you would be buying in this case is a shell. What is the value of a shell in a great location?
In re houses lingering, properties have to be in good shape and priced right to move. We have seen examples of this time and again. This house is potentially neither so its not surprising it has lingered.
Mopar I am guessing that it has no kitchen and is not considered habitable and that people who cant meet a very high equity up front cant buy it. This is a sick loaction!
CofO says 1 0ne family and 9 furnished rooms. This requires a commercial loan. Is this the same as SRO with those 9 furnished rooms.
It had a one family CofO in the 1930s and was converted in the 1960s. There were a lot of bad things done in the sixties; however sex, drugs and rock and roll were not among them. This conversion was!!!!
oooooh……nearly Brownstone half-off…..
If the C of O is not multi family, it can only be due to the fact that there’s no kitchen, easily remedied and worked out by a buyer and seller.
I’ll check the DOB website.
Yes, your welcome.
BO, that doesn’t make sense. The Web site says a commercial loan, not a 203K construction loan, is required. I don’t see a storefront nor do I see any kitchens. But maybe it’s an SRO. The bathrooms look to be potentially a mess, on the floor plan at least. Needs more photos.
I was guessing the commercial loan requirement means that the CofO is multi-family.