House of the Day: 75 New York Avenue
This house at 75 New York Avenue in Crown Heights has been on and off the market for more than three years; this latest effort comes courtesy of Douglas Elliman. The house gets big points for its mansionly size, architectural detail and four-car garage; the broker gets a big “boo-hiss” from us for touting its…
This house at 75 New York Avenue in Crown Heights has been on and off the market for more than three years; this latest effort comes courtesy of Douglas Elliman. The house gets big points for its mansionly size, architectural detail and four-car garage; the broker gets a big “boo-hiss” from us for touting its non-Landmark tear-down potential to developers. The American Second Empire house sits on a 50-by-100-foot lot at the corner of New York Avenue and Pacific Street. Great stuff—let’s hope that someone who gives a crap steps up and buys it. The asking price is $1,425,000, a pretty penny in this part of town and seems rather unrealistic to us in this environment.
75 New York Avenue [Douglas Elliman] GMAP P*Shark
House of the Day: 73 New York Avenue (Revisited) [Brownstoner]
House of the Day: 73 New York Avenue [Brownstoner]
Lovely house but the price is a bit off the charts…. I always wanted to see what the interior of this home looks like… New York Ave has some really nice houses.
I got $120/sf (lot is 4850sf x 2.43, no?)
Anyway, I agree it’s aspirational. They probably would accept 1.1M for it. I’m just hoping no-one would pay a speculative premium in this environment.
It’s a 4-family, not 3 as stated, so the taxes are higher than in fancier neighborhood.
I wonder if the building is vacant.
Fundamentally Required Job and Rental (including parking) Income: 1,425,000/3 = $475,000/yr
Fundamentally Required Rent: 1,425,000/12/10 = $11,875/mo = $3,958/mo per floor
Ha ha ha. Cut everything in half and we’ll at least be in the ballpark.
***Bid half off peak comps***
The property is priced as land. It’s on New York Avenue, a major street, a few feet from Atlantic Avenue and it’s a short walk from the subway. Oh, and the block is filled with garages and the property is across the street from a large income restricted apartment building.
Anyway $133/FAR considering the demolition costs seems high for this area. It is possible it is easy to get financing for low income housing in this area, especially considering what is located across the street.
Toll Brothers Jumps as Luxury Home Orders Surge 42%
Nov. 11 (Bloomberg) — Toll Brothers Inc., the largest U.S. luxury homebuilder, gained as much as 14 percent in New York after orders surged 42 percent in the fiscal fourth quarter, cancellations slowed and revenue beat analysts’ estimates.
Its curb appeal is greatly diminished by the absence of a cornice. To me, that is a sign the building has not been properly taken care of.
“3-family, 3-floor home.”
This could be even more ridiculously over-priced than it appears, depending on how easily one can get rid of the other families if one wants the whole home to live in and how badly chopped up it is.
I love it, and also it is outside our search area, I may have to drag the husband to this one. At this price, it’s marketed to a developer. It’s really a pity, because it’s a fine piece of architecture. My preservationist heart hopes the current financial crisis makes it harder to destroy beautiful houses like this one.
OMG, I want that entry!!! Looks like delicious woodwork.
The price is beyond ridiculous. Mr. B, you were mild when you said “the broker gets a big “boo-hiss”; I’d give them a big fat F*CK YOU!
Drop the price by half (sounding like BHO) and I’ll consider buying this and making that ‘semi-clad bronze woman holding the light fixtue’ all mine.