Lorimer Loser: Stop This L Train, I Wanna Get Off
A picture is worth a thousand words on this one. A million bucks for three stories of charmless, 1970s-era interiors in second-stop Williamsburg. Puhleeze! Perhaps there’s some way to rationalize this as an investment property, but we just can’t imagine anyone paying this kind of dough to live here. (We doubt even the die-hard modernists…
A picture is worth a thousand words on this one. A million bucks for three stories of charmless, 1970s-era interiors in second-stop Williamsburg. Puhleeze! Perhaps there’s some way to rationalize this as an investment property, but we just can’t imagine anyone paying this kind of dough to live here. (We doubt even the die-hard modernists on the blog will defend this one.)
Great Corner Townhouse [aptsandlofts.com]
I work in real estate. Though I find the underlying frustration with the market understandable, I feel the anger is largely misdirected. There are many different points of view. From where I sit, the sellers are ultimately the ones pushing for the high prices. They heard their neighbor’s house sold for such and such amount and they want to outdo their neighbor. Everyone thinks their home is nicer, right? For many of the sellers in Williamsburg, this is their chance for retirement. Can you blame someone for wanting to cash in on the market? When a real estate agent makes a bid for a listing, they tell the seller what they think the listing price should be. Do you think the seller EVER goes with the agent who puts a reasonable number on the table? The don’t. They always go with the highest number. Or they just tell you what they want for it. Real estate companies have to stay in business. Are they going to turn away listings because the seller insists on a high price? And so goes the cycle.
My point is that it is much more complicated than a company having some “balls.” Everyone is just trying to survive. It may sound like a sap story, but it’s the truth. I’ve worked in Manhattan and Brooklyn. The story is the same everywhere.
WOW!?! $1.4mill FOR THAT??!? Corcoran’s grapes are growing larger by the minute. I am getting my place ready for sale in the South South Slope very soon (5/15 on 15th St. is the plan – no developers or brokers puh’lease – I am RE licensed and this will be a FSBO – appraiser friend helped me establish price range), and I was worried about asking $1.3… I can actually live in my domicile (and it looks nice too). I just can’t imagine the rationale the the sap who is going to pony up anything close to $1.4. I wonder if the broker just assumed that anything can be sold for $400 sq/ft. I would be emabrassed as a real estate professional to exploit someone dumber, more naive or ig’nrant than myself to simply pimp a house.
Brownstoner, you should set up a “Hall of Shame” for these completely ridiculous listings and ultimately track their selling price so the “bubble-burst crowd and the helium heads can get an on-going sense of realty. Just another “value-added” feature offered by brownstoner.com.
But seriously Corcoran, Devoe Shith*le for $1.4 million…seriously rotflmao.
peace.
The frenzy over Nexus and the like, and a turd like this asking 1.4 boggles the mind. Then again, people happily pay $4 for water with some essence of coffee bean. Or for that matter, $1 for a bottle of water. Oy, it goes on.
Just because people are rich doesn’t make ’em smart. Lots of well-dressed dummies out there, and as long as demand from these idiots outpaces the supply, someone might as well have their money.
i live two doors away from that corcoran disaster. a couple weeks ago it was $1.5 mil, now it’s $1.4. offer $900k and you might well get it. it’s a piece of crap but the location is fantastic.
i’ve seen similarly crappy buildings advertised for a lot more in the neighborhood, but i have no idea if anyone’s paying.
what most amuses me is the advertised 1.5 block walk to the lorimer L stop. last time i walked from the corner of leonard and jackson it was four full blocks to the L, but maybe they moved the L when i wasn’t paying attention.
city recs , etc and propshark that uses city info, I don’t think has data before 1900 – so almost all houses are recorded as 1900 or 1899.
What I find funny is realtors then often repeat/advertise that info as it were fact….some of them aren’t the brightest…when anyone with any knowledge of ‘hoods or arch. knows they are older.
It may have been built in 1899, but everything you’re seeing is late-20th century. Aside from the faux siding and the interior decor, there’s no cornice, and even the windows look to have been blocked up and shrunk.
(Has anyone else noticed that brokers tend to call any “old” building 100 years old, regardless of age? Even when its clear that the building is much older, its called 1900 or 1899, and left at that.)
And no, I will make no modernist apologies for this one.
I’ll happily commence the whipping of this DOA horse and point out that it works out to over $400 psf.