House of the Day: 146 Willow Street
Zoinks! This is quite the listing. $7,500,000 for a five-story, 7,800-square-foot house at 146 Willow Street in Brooklyn Heights. Of course, it needs a complete gut renovation, which makes one wonder whether the $1,000-a-foot asking price is justified, despite the prime Heights location and architectural quality of the house. What do you think it will…
Zoinks! This is quite the listing. $7,500,000 for a five-story, 7,800-square-foot house at 146 Willow Street in Brooklyn Heights. Of course, it needs a complete gut renovation, which makes one wonder whether the $1,000-a-foot asking price is justified, despite the prime Heights location and architectural quality of the house. What do you think it will sell for?
146 Willow Street [NY Times] GMAP P*Shark
BoerumHill was spot on.
3.5 million at best.
This place needs at least 1.5 million in renovations.
When the global markets crash again but through the March lows, it’s gonna get ugly in BK RE. No blue chip will be spared.
***Bid half off peak comps***
Alternatively, you and your wife will continue to be homeless. How long you been waiting now, 3 years????? BWAHAHAHAHAHAHHAHAH
Bachelor apartments? Rent control!? This gets better and better.
CGar, you could buy the place for double ask, then adopt all Brownstone commenters as your legal dependents, and move them in one by one.
(Not that I support throwing rent controlled tenants out of their homes AT ALL.)
Yes, HERE IT IS BHO……$3.5MM, maybe less.
Oops, sorry. My mistake.
“In 1922, it sold for $69,000!”
1.04^(88) x 69k = $2.2M today. Half off ’07 comp.
If you collected a generous ‘Heights rent of 4k/floor, 5 x 3 x 10 x 12 = $2.4M would be the fundamental value. Again, half off.
When the global markets crash again but through the March lows, it’s gonna get ugly in BK RE. No blue chip will be spared.
***Bid half off peak comps***
Lesloaf, that $5.74MM price in 2007 was a “similar” house, not this house’s last sale.
BTW, love the guys in the google streetview for this house waving at the camera
A similar monster-sized gut job at 113 Columbia Heights has been sitting on the market for almost 3 years at $5.75MM. I think that pretty much sums it up for this building’s prospects at the current price.