House of the Day: 315 Garfield Place
As Curbed noted earlier this week, the monster mansion at 315 Garfield Place in Park Slope which tested the waters with an $8.5 million asking price back in the dark days of late 2008, is back. The 28-foot-wide house is still just as gorgeous, the market is stronger and, at $8.15 million, the price is…
As Curbed noted earlier this week, the monster mansion at 315 Garfield Place in Park Slope which tested the waters with an $8.5 million asking price back in the dark days of late 2008, is back. The 28-foot-wide house is still just as gorgeous, the market is stronger and, at $8.15 million, the price is slightly more within reach. Think they’ll get close?
315 Garfield Place [Brown Harris Stevens] GMAP P*Shark
I cannot possibly think of a better illustration of the cost/utility disconnect between renting and owning real estate than, as reported by Brownstoner earlier today, the $8.15 million asking price for 315 Garfield Place. With $2 million down and a 5.15% 30-year fixed jumbo mortgage, number 315 will cost you $33,581 a month (excluding taxes, insurance and all other carrying costs). I live in a very nice 1 bedroom apartment at 314 Garfield Place and pay less than $3,000 a month (and my only carrying costs are the cable and electric bills).
Yes, number 315 is very beautiful, very unique and very large. My place has some beautiful characteristics (original stained glass windows) and some less beautiful peculiarities (the kitchen), and it is decidedly smaller. Much, much smaller. But, it’s in the exact same location, with the same neighbors, same proximity to Prospect Park (literally, steps away), same school district and same shops on 7th Avenue. In short, the most important qualities, the stuff that makes Park Slope what Park Slope is, are equally abundant and shared for numbers 315 and 314.
At this point, some readers are surely thinking that I am comparing apples (mansions with six bedrooms) to oranges (one bedroom apartments), and that this type of comparison just doesn’t make sense. Ah, but it does, to me anyway. A plus $30,000 monthly premium for five extra bedrooms just doesn’t make sense. Ever. Persistent disconnects like this foreshadow bad things, socially, economically and (most relevant for Brownstoner readers) for future sale prices on high-end real estate in Park Slope. That is, in this humble renter’s opinion.
I’ll go up to 4.5m.
you can buy a cheaper house in the west village, which is a real neighborhood compared to park slope.
slopegirl, rich people need more space. There is no such thing as too big. You’ve apparently never been outside NYC!!!!!!
I think with less than 5-7 kids, this house is too big, no matter what the price.
I think the agent in the video is overshooting a little when she says this house would be 30million in Manhattan.
I don’t get the comparison to 17 PPW. There’s no comparison. If you made a list of the most incredible private homes in NYC, I’m relatively sure that this would toward the top of the top 10. The combination of siting, architecture, pristine condition and restraint are pretty unique. Very few like that left as private homes.
The Garfield place is a great house, but it’s nowhere near that level. It’s just a “built new to look old” thing. The facade isn’t even original; it’s just a resurfacing job. The whole thing has *real estate speculation* written all over it.
crazypants, more free standing mansion in clinton hill on clinton ave.
NYGuy7, so if some mega rich dude buys this pad and wants to convert it to modern style with a 5M gut renov, it doesnt mean this place is worth 13M or that it needed 5M worth of renov. that ppw house would’ve been deemed move-in ready for a ton of people.