Open House Picks: Six Months Later
Comment: So-so. Open House Picks 8/8/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
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your next project Comment: So-so. Open House Picks 8/8/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Get started on
your next project
Agreed, I think the WY houses still need to drop a bit.
Bringing them down to $1.2m and $800k should do the trick.
I don’t think the subway access is that bad. Sure, all you have is the F train, but it’s really no worse than any other line in my experience.
Problem with WT is it’s a nice neighborhood but the subway access suh-huuuuucks.
It’s fun reading the comments 6 months later. I think lechacal has a perfect grasp of math, but an imperfect understanding of psychology.
It is surprising that someone would pay so much more to own then they would to rent, if you really care about every dollar, but clearly some people made so much money, so fast, it’s play money.
So the PS/WT price differential is getting steeper. There’s trouble brewin’ I tell ya. Mobs with torches soon.
I thought the extra “t” was on purpose.
But in any case, you were correct, Snark. And looks like they are still overpriced, if you ask me.
Whoops, extraneous “t” in that last post. I must have been thinking of yesterday’s open thread.
I also enjoy reading the original posts, butt mostly because I was right about the two WT properties being overpriced.
I really enjoy reading the posts from when these were the open house picks. This was posted by Lechacal regarding the Berkeley Place house:
“When I commented earlier that I thought 108 Berkeley would go for at least 90% of asking, I was making a bunch of assumptions that turned out to be dead wrong. I went to the open house, and am now of the view that the asking price is hugely aspirational (I am trying to be as generous as possible in my words). I don’t care how hot Brooklyn brownstones are, there is just no way they find someone stupid enough to pay anywhere near asking. Buyers picked that place up for $1.3 million in 2004 and have clearly done absolutely nothing to the place since then. Now they are trying to flip for $2.65 in a softening market? This is a 50′ lot, which means the lower duplex can’t even be turned into a proper 3-bedroom (i.e., a decent-sized family needs to take over the third floor too, leaving some meager income from the top floor to offset costs). There is a ton of money that need to go into the place before it is worth even close to asking.
Anyone else go to the open house who disagrees?”
Will Quinn be buying the WT places if they can’t sell them?