Rental of the Day: 181 Washington Park
Fort Greene’s 181 Washington Park is on the rental market, asking $12,000 $11,000/month. Its back story: The home was a HOTD in 2006, when it was listed for a staggering $3.995 million; saw a price chop; and finally sold for $3,037,500 in 2007. It’s a beautifully restored four-story house on a prime Fort Greene block….
Fort Greene’s 181 Washington Park is on the rental market, asking $12,000 $11,000/month. Its back story: The home was a HOTD in 2006, when it was listed for a staggering $3.995 million; saw a price chop; and finally sold for $3,037,500 in 2007. It’s a beautifully restored four-story house on a prime Fort Greene block. Whether it’s worth the $12K $11K a month in rent remains to be seen. Update: as a commenter pointed out, the rent was reduced just yesterday from $12,000 to $11,000. Make a difference?
181 Washington Park [Corcoran] GMAP P*Shark
Is being right on Ft Greene Park really a good thing? Does anyone know from experience? Yes, it’s nice to look at trees but I can imagine it could be pretty noisy at this corner.
I think for a place at this price point lenders demand that buyers put down well north of the customary 20%. If you really can put 3.5% down on a $1MM+ loan please let me know.
30 year mortgage is at 5 month low…4.63%. It makes sense to put down as little as possible.
ACRIS shows a mortgage of only $1.3 million on this one. AND it’s to MERS! They could/should file a quiet title/show me the note action.
Maly, I disagree, I see comments from the superduper Wall Street types – the ones who can afford these houses – saying they put down like 3%, so they can use their giant pots of cash money to make lots and lots MORE money in the markets, while only paying 3.5% or less on ARM mortgages. Apparently it’s financially savvier to put down less at this price point. Or so I have heard.
I’m gonna have to say this is a pretty cool offering. Might be a little far off the beaten path for the mainstream expat crowd, but its got a lot to offer someone who wants to put their family up in this kind of luxury while hunting for something similar for a few years. On the park like this isn’t exactly easy to find, no?
Noob, I don’t think people who buy $3M houses just put 10% down, even in 2007. At least I hope not.
$2200/floor is in-line with the rental market in the area.
Would make a truly awesome frat house for LIU.
Given that this is the market rental price, why would anyone buy?
No.