House of the Day: 540 4th Street
We’re digging all the original details in this new listing at 540 4th Street. The Park Slope limestone has plenty of old-school cred but it’s gonna need to get some serious lovin’ from its next owner, a fact the listing cops to. We’re not so sure we agree that at $2,000,000, though, that it is…
We’re digging all the original details in this new listing at 540 4th Street. The Park Slope limestone has plenty of old-school cred but it’s gonna need to get some serious lovin’ from its next owner, a fact the listing cops to. We’re not so sure we agree that at $2,000,000, though, that it is “priced accordingly” (as the listing also claims). The house is on a park block, but it’s only about 2,500 square feet. Thoughts?
540 4th Street [Orrichio Anderson] GMAP P*Shark
The asking price is $800 psf and it needs a reno.
Not seeing it.
$1.5m takes it.
MM, it would be a crime to remuddle this beauty. I would not want to have the HGTV hacks putting granite islands and Waterworks faucets. Assuming you buy this place for $1.8M and spend $300,000 for a light touch upgrade of the mechanicals, where can you find a better deal?
MM, re: Acris – like the Prego commercial once said – “its in there” – I checked
This place is a hard one to price because it does have the awesome location and details, but is small and needs some undertermined level of renovating. Hopefully one of the readers here will stop by and give us the scoop.
For the same money, there was another PS townhouse listed here the other day for $1.9m that was bigger, not in need of much renovation and location was almost as good. Can’t find the address or post, though.
It is true that we have seen shitty little houses in backwoods locations asking 1.6 and 1.7. Or heaps that have been cut up into low-rent units on streets I have never even heard of for over a million. These is absolutely no comparison between those properties or even a fairly nice house near Fourth Avenue and this.
Now that the bubble has popped, we have to rely once again on the basics: location, location,..you know the rest.
Dave, keep up! I already scoped out the house for you at 1:29. Arkady and I found en suite car elevators for you today >>>>> OT.
sorry to disappoint you but there are not many rich fools left. The reason that such houses got sold for such exorbitant prices had nothing to do with the location or details.
So broker, how do you account for all the renovated houses in the same area (park block or else 7/8 Ave – closer to 321/transportation) that are priced in the mid-2s (presumably, less than this house will cost when renovated) that aren’t moving? Your confidence seems to assume nothing has changed since 2007-early 08.
[shoulder shrug]
it’s there. maybe new york city dept of finance is upset with you for being so negative wrt their ever rising property assessments?
i guess you’ll just have to accept my word or wait for your proof.
I smell an English basement faceoff.
Posted by: Brokedeveloper at November 12, 2009 1:20 PM
Well, at least the formal dining room is on the parlour level, where it should be.