Houses of the Day: Head-to-Head in The Slope
When 590 2nd Street (right) hit the market three months ago for $3,200,000, we thought it had a pretty good shot at finding a buyer. Apparently not, as the price was just cut to $2,995,000. This, coincidentally, is the same asking price as a new Brown Harris Stevens listings in The Slope, 130 Lincoln Place…
When 590 2nd Street (right) hit the market three months ago for $3,200,000, we thought it had a pretty good shot at finding a buyer. Apparently not, as the price was just cut to $2,995,000. This, coincidentally, is the same asking price as a new Brown Harris Stevens listings in The Slope, 130 Lincoln Place (left). Both houses are two-family, four-story brownstones, though the 2nd Street house is slightly larger, according to PropertyShark. It also gets the benefit of the doubt when it comes to interiors since the Lincoln Place listing is lacking in the photo department. Which do you think has a better chance of selling at this price?
590 2nd Street [Brown Harris Stevens] GMAP P*Shark
130 Lincoln Place [Brown Harris Stevens] GMAP P*Shark
House of the Day: 590 2nd Street [Brownstoner]
Why do people here always think buyers of $3M houses are not getting mortgages or sending their kids to public school? I am looking at houses in this price range and plan to get a mortgage and send kids to public school.
“I wonder if this Lincoln Place home will go over ask like the last one did in February.”
Depends on how well the fool supply is holding up.
If that’s the case, 2:20, then the days of ANY house in Ft. Greene or Clinton Hill selling for over 2 million are over.
And 750k for Crown Heights and Bed Stuy.
BTW, the Lincoln Place home 2:19 alluded to sold for 3 million. In 2008.
And a home on 3rd Street just sold for 3.6 million.
Also in 2008.
I think the days of 3mm+ for the park block buildings are over (unless it’s 25 footer or Montgomery). 2.5mm gets the job done in 2008
I wonder if this Lincoln Place home will go over ask like the last one did in February.
250K over ask to be exact.
Monthly mortgage is actually more than $13K, but probably around that after getting a tax write-off.
Montly mortgage is about $13,000 for either of these places. If you get $2000/month for the rental, you’re still paying over $10,000 a month, plus the cost of upkeep. They’re both very nice (especially the 2nd street house) but still way overpriced.
I expect that people looking at these places might not need a mortgage (ie, they’re rich) — but they still understand the opportunity cost of the money used to purchase them, and assuming that they’re rich, they could make 5% a year on the $3MM, which is about $12,500 a month. Seems like a lot to me.
1:51, thanks broker/owner. Can you explain to me how you can call that small garden floor room a bedroom when it’s only 6.5 ft wide?
Re: 2nd street being “narrow” – it’s over 19 feet wide – I don’t consider that narrow! Also, it’s interesting that folks think Lincoln is better location since the school for 2nd street – 321 – is much better than school for Lincoln (which is not even in District 15). Though I suppose it’s the old argument that someone paying 3 mil for a house doesn’t care about public school. My problem with 2nd street is (besides price!) taste – I’m not a fan of all that heavy woodwork, seems ponderous to me. But it’s a big house in a good location. I guess there’s just the question of where is the market going – if it’s already received a price cut of 200K within a short time, are there more price cuts to come?