House of the Day: 374 Washington Avenue
A recent renovation has loaded up this circa-1880 semi-detached Clinton Hill house with new high-end details, such as herringbone cherry-wood floors and an elaborate kitchen. But there’s no lack of old ones either, including mantels, a wood burning fireplace, decorative plaster work, and an impressive entry hall with double arches over the staircase. It’s currently set up as…
A recent renovation has loaded up this circa-1880 semi-detached Clinton Hill house with new high-end details, such as herringbone cherry-wood floors and an elaborate kitchen. But there’s no lack of old ones either, including mantels, a wood burning fireplace, decorative plaster work, and an impressive entry hall with double arches over the staircase. It’s currently set up as an owner’s triplex over a garden rental. The mechanicals are new and include central air. Do you think they’ll get their ask of $3,750,000?
374 Washington Avenue [Brown Harris Stevens] GMAP
I feel guilty even responding to you leewendy. You keep mentioning knowledge, but you are providing no “FACTS”. The age old real estate addage of location, location, location is the most important thing here. Lets use two houses taht are for sale right now. The reality is CH is an amazing neighborhood, however, FG, today, is just a little more convenient, and trades faster and at a higher per square foot. Fact 339 Washington which is less than 300 feet from this house, and is close to 6k square feet has been on the market for 6 months, and has had two price cuts. It is now listed at $3.5 down from 3.9. That means it will trade for somewhere between $600 and $650 a square foot. FACT, 308 Carlton which is located on the block with the school had a a gazillion people at teh open house, and I think already has a contract signed above ask. It was listed at $3.3. I bet it goes for $3.4, or maybe $3.5. Assuming it goes for the lower number of $3.4, it would have went into contract at about $770 a square foot, in a month. Numbers dont lie. I love Clinton Hill, and I think the homes are more magnificent than FG, generally. However, teh neigborhood is a bit further, and still developing. Leewendy, if you respond, try to use numbers and real life instances to prove me wrong, otherwise, you sound silly!
I think you are feeling guilty for your lack of knowledge. We are educating you not attacking. Do not be on the defense to learn something new daily. If you are not aware that it really does not matter if the property is here or there in Brooklyn the property is in demand. No, we do not expect a Manhattan Park Avenue rich to move to Washington Avenue, but their children or grandchildren may. The property 308 Carlton Avenue is located on a school block with limited parking, noisy kids, and early, early morning school garbage pick-up. Do not isolate facts to diminish a prime property value.
Good luck with the sale of your property.
Ummm..I notice that you would rather attack me, than discuss the facts. I have already admitted that this is an amazing house. The facts remain that Clinton hill sells at a discount to fort Greene. The reason for that is that it is more developed, and closer to manhattan. Look at the numbers. 308 Carlton will probably sell at close to where this house sells. I like this house better, but folks from manhattan will prefer Carlton’s location. This is a simple discussion the development of a neighborhood. And I hope at some point Clinton hill has 5 mil houses. That will be great for the community.
Tillidie, it is obvious that you are not in the real estate business. It will be very difficult to educate someone who does not have the ability to grasp facts. In addition, once this property is sold to the future buyer there is no change in the near future that it will ever be offered for sale again under $5 million. This is a true gem on or off Washington Park & Dark South Portland. It is a shame folks try to diminish the value of a property because of there lack of knowledge and expertise. This property is absolutely prime.
I kind of agree with all three of you. The house is big, it’s beautiful, and it’s on a great block if you are a do or die brooklyn head. The house also has a great pedigree as it was owned by one of the Marsalis brothers. But, the renovations are a bit weird…the floors are all different, the kitchen looks pretty ugly…I don’t know, it seems off. Anyone buying it will probably have to do over a bunch of that stuff. As for the price, i think they will get close, but probably be a few hundy off. The houses that are getting this price are closer to the park in Fort Greene. 339 Washington is still on at 3.5, after being dropped from3.9. I bet it goes for under 3.5, and it’s across the street, a few doors down, and is a similar size. I would bet this goes for 3.5. The real issue is the folks who have this kind of cash are going to be more comfortable in the more developed parts of fort Greene, not right next to the library by the G train..up the block from LG projects.
Of course they will get this and maybe more. This is an incredible property next to the Public Library on Washington Avenue bet. Lafayette and Greene. I believe Wynton Marsalis’ family once owed this building. The building is definitely and elite property. The person that acquires this property will have the opportunity to install modern improvements that will propel the value to the ultimate next level. Big house. Big opportunities.
@Ms Stalwart, I am not saying its not a great location if you are from the hood. I am saying that folks who are willing to pay $3.75mm are mostly from Manhattan. Fort Greene has a unch of comps on South Portland and Wash Park that have gone for well north of $3.5mm. There are two places right now listed at $3.3-$3.6mm, one on Adelphi, and one on Carlton. That is not a coincidence. The folks that buy this house are going to be very lucky, but the list of buyers is smaller than for Fort greene. also, whoever buys this house is going to need to shell out $3.5mm, and then add in a bunch of cash to customise it. All in cost will be over $4mm. There is not a large market, yet, for cribs in Clinton Hill for $4mil.