Open House Picks: Six Months Later
Comment: Holy cow, 329 President started out at $3,600,000! Open House Picks 3/27/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Holy cow, 329 President started out at $3,600,000!
Open House Picks 3/27/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
“But meanwhile, for example, although we have tons of dentists and attorneys in NYC, they manage to float their regular fees no matter what. There doesn’t seem to be much market reality with professional fee structures.
Oh, is that just my take?”
I think that is just your take. 2008, 2009, and soon 2010 are turning out to the biggest bloodbath for attorneys in NYC in decades.
Hordes of attorneys have been fired. Young attorneys have had their offers rescinded. Partners have been pushed out or demoted to non-equity. It’s horribly frightening for some of these young attorneys to come out with $150,000 in student loans not being able to find a job.
http://dealbook.blogs.nytimes.com/2009/08/26/students-fret-as-big-law-jobs-disappear/
But meanwhile, for example, although we have tons of dentists and attorneys in NYC, they manage to float their regular fees no matter what. There doesn’t seem to be much market reality with professional fee structures.
Oh, is that just my take?
Anyway, yes, I know, real estate cannot be compared in this way to professional services…but still…you have to wonder.
Happy New Year!!!
Anti – agreed. I don’t think sellers will be able to hold out long enough, though they seem to by pretty set in their ways right now. Maybe these attitudes are why the last NY real estate downturn lasted 3+ years.
Okay, what am I going to weigh in on?…You guessed it: the Fort Greene house! 😉
So, yes, it was very, very narrow and I really did think the original asking price was pushing it to be truthful. I had nice features, small rooms if you like *cozy*…AND some people really, really do–With the right decorating, it’d be a knockout. I knew Maggie and her friend would be able to sell this house because it really is cute and they are good real estate agents.
Aside from the house’s width, one thing that may have brought the price down was that the only bathroom with a tub (a huge, jacuzzi sort of tub) is on the ground floor next to the kitchen…that floor was quite a bit below grade.
The guys did a nice job over the years renovating the house and doing the most with the dimensions. I’m not sure the square footage, but the rooms “worked” pretty well for me…but yes, probably too, too cozy for some. Note that it also probably could have used additional money put into it. There were a couple of almost-finished things and I’m sure other things a new owner will look to do aside from cosmetic work. I’m not sure the state of the roof and heating system but I would imagine they’re fine.
The garden was nicely done by the way. I often find small fishponds in the brownstone backyards to be nothing more than sad mosquito pits but this one was cute…with and urn and moving water…without being too kitsch.
All-in-all, I’m sure this house will make the new owners a wondferfully gracious home. All my best to them!!!
“Folks, mostly another good example of asking prices meaning shite, with a dash of wide bid-ask spread.”
Yo Dope, you’re starting to sound a lot like me! Me likey!
What are the CG owners thinking?
Posted by: 1842 at September 25, 2009 12:58 PM
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What 90% of sellers still seem to think, I suspect.
That their property is worth a lot more than people are willing or able to pay for it….
Bringin’ back the Loaf:
“Don’t be sad….cuz one outta four aiiiiiiiin’t bad!”
Yeah, it seems SE does have some issues for sure.
WTF indeed!
ROFL, *rob*
11217, I love StreetEasy, but often find it inaccurate. I clearly recall the President Street house listed at $3.6 (and remember thinking wtf?)