House of the Day: 329 President Street
Call it death by a thousand cuts. Even when 329 President Street
Call it death by a thousand cuts. Even when 329 President Street was listed in the comparatively strong market of early 2008 it was obvious that it was embarrassingly overpriced. $3,600,000 for a three-story house in Carroll Gardens, we asked incredulously. ‘Twas not to be. It didn’t take long for the seller to start scaling back expectations but, given the starting point, the initial reduction of $605,000 didn’t have any impact. In 2009, the property has had four more price cuts, the most recent of which was at the end of July and brought the asking price to $1,975,000, almost half of where it started over a year and a half ago. Now that we can see photos of the character-less renovation, we’d say this still has quite a way to go.
329 President Street [Vita/Streeteasy] GMAP P*Shark
Overpricing Not Working in Carroll Gardens [Brownstoner]
What the Heck Is Going On in Carroll Gardens? [Brownstoner]
Craptastic and subterranean mole lair weren’t the first words that came to my mind about this place — but I wish they were. Actually, 1.7 is a great deal for this completely charm-free, small, ugly place.
Oh, and yes…the bottom floor of the duplex is indeed a Subterranean Mole Lair. It felt like a very new, high-end “basement rec room.”
I don’t care what it goes for b/c I’d never live in a craptastic renovation like this.
But the developer who tried to flip it deserves every bit of pain they get trying to shamelessly sell a POS like this for 3.6 Million dollars. Probably paid $800K for it and gutted it.
I hope they absolutely, positively lose their greedy little shirts.
we got some violations to take care of here…and since im spending so much money to buy this house, i might as well spend the extra money and get a certificate of occupancy while im at it…
http://a810-bisweb.nyc.gov/bisweb/PropertyProfileOverviewServlet?boro=3&houseno=329&street=president+st&go2=+GO+&requestid=0
This house isn’t zoned for PS 58, it’s zoned for PS 32 (both are a block away in either direction). Houses on other side of the block are zoned for 58 and the composition of the two schools is dramatically different, which isn’t helped by the fact that 32 zone incorporates a large public housing project. However, DOE wants to improve PS 32, so is doing things to attract the more affluent newcomers but don’t know how well it’s working. Also, there are rumors the DOE wants to do away with zones altogether, so perhaps the school zone won’t matter so much in the future.
death by 1000 cuts and its only on cut 600, more pain to come
I think stoner should set up a school tab on top.
thank you,
diffrent mold
Ditto, ditto!
(and if that were truly the case, the private schools would be positively bursting at the seams with students and applicants. The relatively small number of privates we have could not possibly accommodate the volume of children living in meeeeelionnnn dollar homes.)
ditto – your right. silly me. what type of logic and common sense was i thinking about!