Multiple Price Cuts for Heights Houses
Not even Brooklyn Heights, the bluest chip in the borough, is proving immune to the pressures of a weakening market. Exhibit 1: Three of the lower-priced houses on the market in the area have recently had to undergo price reductions in their bids to find buyers. The most surprising of these, in our opinion, is…
Not even Brooklyn Heights, the bluest chip in the borough, is proving immune to the pressures of a weakening market. Exhibit 1: Three of the lower-priced houses on the market in the area have recently had to undergo price reductions in their bids to find buyers. The most surprising of these, in our opinion, is 72 Middagh, a 3,450-square-foot former school house with its own parking that recently underwent a pitch-perfect renovation. This one started out three months ago at $2,995,000 and was just cut to $2,895,000. The historic colonnade of 47 Willow Place was not enough to reel in a buyer at the initial asking price of $3,450,000, so after just five weeks, it too had its price trimmed to $3,200,000. These two cuts follow the unsuccessful efforts of a succession of brokers to unload the suburban-modern carriage house at 43 Love Lane. Brown Harris Stevens, Stribling and Halstead gave it a go for most of last year, starting at an original asking price of $3,500,000. Coldwell Banker took over in February at $2,995,000. With no better luck, they cut the asking price to $2,745,000 at the end of April. Where’s the bottom on this stuff?
72 Middagh Street [Corcoran] GMAP
47 Willow Place [Corcoran] GMAP
43 Love Lane [Coldwell Banker] GMAP
House of the Day: 43 Love Lane [Brownstoner]
HOTD: Love Lane Buyer, Wherefore Art Thou? [Brownstoner]
House of the Day: 72 Middagh Street [Brownstoner]
House of the Day: 47 Willow Place [Brownstoner]
You can’t rent any house for $3-4K. Certainly not in BH, or the other expensive neighborhoods. Really good point, 2:09. The very rare and few houses ever available for rent are way higher than that.
For $3K you get an apartment.
“11:30. I could buy any of these properties. I’d rather pay 3-4k in rent and save the other 10k/month (which I do). I can invest that in plenty of other assets that are likely to outperform real estate.”
If you are making 14K a month and don’t own your own home, I think that’s pretty stupid.
2:09, you are exactly right.
3K in Brooklyn Heights will get you a nice 1 bedroom.
Not a 5 bedroom, 2 or 3 bath home with a garden, 4 fireplaces and room for in-laws, friends and total quiet from any neighbors.
“11:30. I could buy any of these properties. I’d rather pay 3-4k in rent and save the other 10k/month (which I do). I can invest that in plenty of other assets that are likely to outperform real estate.”
That’s fine, but I’d like to know where you’re finding an entire Brownstone to rent. There are very few of them, and the prices I see are way more than $3K-$4k per month. I bought a house so that my kids could have there own bedrooms + a playroom and so parents and in;laws could visit and stay in a guest room instead of sleeping on an air mattress. I don’t care whether I make money on my house (though clearly I hope not to lose). Our quality of life is better and I’m willing to pay for that.
Just don’t think it’s fair to compate a $3-$k rental to an full house like any of those above.
Thanks 2:03, we’ll be right here waiting.
I only see one price cut, $3,500,000 to $2,745,000. Where’s the other two? The sets quoted look exactly the same. I’ll scoot a little a closer to my moniter and get back to you.
These are really nice houses. The one on Willow Place is fabulous. If they are having trouble selling, I think it bodes ill.
1:37, I’ve seen them all numerous times on the outside. You can see pictures of the insides if you click on the individual links to the listings above. (or were you posing a rhetorical question…lol)
anyone actually SEEN any of these houses??