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
It last sold in January ’07 for $5,740,000. They’ll be lucky to recoup that investment.
In 1922, it sold for $69,000!
From the archives of the NYT:
“July 14, 1922, Friday
Section: Real Estate, Page 29, 353 words
William Van Allan sold the bachelor apartment house at 146 Willow Street to Harry Schwab. The property was held at $69,000. White-Goodman was the broker. ”
So I guess it was built as bachelor apartments, not that different from the way it is used today (8 1-bedroom apartment.) On the one hand, this is really neat, on the other it means there are no remains of a former mansion to uncover. I actually think it might have more value for a condo developer, since the layout is more likely to fit.
So, Mr. Owner: 5 floor-through condos, 2br/2ba, 1,200sf a piece: 950K to 1.3K, say $5.4M total once developed. Approximately $1.4 to convert, $300,000 for the marketing/broker, $1M for the developer. Value of undeveloped building: $2.7M
The listing says magnificently preserved — but needs a gut renovation? Price is twice any house in the area? And no photos?
It appears to be a five-story brownstone, so Paul Revere could not have slept here.
This is just confounding.
I like everything about this listing: insane price, no pics, must be a complete mess, yet owner suggests you add a pool in the basement. sure. why not.
Still, it’s a huge house on a fantastic block. If he really wanted to sell it, he could do so tomorrow.
I voted for the minimum, but my real estimate is less. These people are crazy.
Good point Snark. Addling brains all about town. Mine included.
Could this be the brownstone that really does sell for half off?
I blame it on the heat, Noki.
I don’t know why, as owners are certainly entitled to ask what they’d like, but I find this price equal parts absurd and offensive. And it doesn’t even have a stoop. One enters through a partially underground garden entrance.