Rental of the Day: 489 Henry Street
Wowza! This five-bedroom, four-bathroom townhouse rental at 489 Henry Street in Cobble Hill is really something. The listing (which comes straight outta the Brownstoner Marketplace) boasts a 20-foot-high open atrium, complete with a ‘glass wall system’ that opens completely into the patio, backyard, and guesthouse. And, at 5,500 square feet, there’s plenty of space to…
Wowza! This five-bedroom, four-bathroom townhouse rental at 489 Henry Street in Cobble Hill is really something. The listing (which comes straight outta the Brownstoner Marketplace) boasts a 20-foot-high open atrium, complete with a ‘glass wall system’ that opens completely into the patio, backyard, and guesthouse. And, at 5,500 square feet, there’s plenty of space to spread out. The modern approach may not satisfy townhouse traditionalists, but the home is pretty green-friendly, with a solar power system. The ask is $18,000 a month, rental prices we’ve featured in Park Slope and Brooklyn Heights but not yet Cobble Hill. What do you think?
489 Henry Street [Luxe Group] GMAP P*Shark
11217 – Lis pendens (not short sales) doubled in the last year (to 724)! That’s a “dangerous” trend as DIBS says. I referred to the -30% figure as an outlier, not the average/median. Next time, print out my comment and break out the highlighter!
CGFan – I’ll give you 238 Clinton but 304 Union went for -19% off the pre-Lehman ask which is definitely what they would have gotten if all hell didn’t break loose. The market in general is down -20%.
***Bid half off peak comps***
“What kind of housewarming gift could one possibly buy for the person who rents here?” — when someone rents you lend them something – don’t give it.
The “banking cartel” BHO?????
How did they get those stairs! I want to do something similar to those, but I didn’t think that code would allow for stairs with no risers?!
A banker that’s being sent to NYC with a housing stipend will rent this. Having met them, that’s what they do, and this is what they pay.
Of course, it’s generally the bank’s money, not the banker’s.
BHO, I’m just comparing to apples to apples. This is a completely renovated one family home. And the renovation was an expensive and generally tasteful one. It’s very similar to the 2 sales from yesterday. I don’t doubt that there is a decline in the sale price of 4 family or 3 family brownstones that haven’t been renovated for decades (or done extremely cheaply). But apparently a few buyers still don’t mind paying over $3 million for properties like this in these neighborhoods. I wouldn’t do it myself, but apparently some rich folks do. I also happen to think $18,000 is a ridiculous rent — I’d rather spend my money on other things. But who knows, perhaps there is someone out there who would pay that much.
I love that you think CGfan needs to cite more examples than that.
Your article states that there were 734 short sales in Manhattan….an island of 1.6 million people.
CGFan’s example of a few 3 + million dollar homes selling in a field of a few thousand brownstones is a better ratio than your pathetic attempt.
Notice that the FIRST line of the article you link says “WITH property values down by as much as 30 percent in New York City,”
See that “as much as” part??
Yeah, that includes the Bronx, Queens, all over NYC. It does not say that every neighborhood in NYC has dropped 30%. Most have not, in fact.
You once again have no data for brownstone Brooklyn to back up your claims. CGfan does.
You have to cite more examples than that, CGfan.
All the market reports by PDE, corcoran, Halstead, etc, have comps down -20% on average/median. So does NY Case-Shiller (also up +200% trough to peak like brownstone Brooklyn – there’s your relevance if not directly with coops, condos, 2+ fams).
I’m sure you can find -30 percent off peak examples as well. The NY Times did…
http://tinyurl.com/2axc2vp
***Bid half off peak comps***
“it’s the epicenter for everything that is wrong with our economy. maybe a better way to phrase it would be the eye of the storm for the ultimate destruction of the middle class”
Yup. That’s what the banking cartel does. Leach off those who actually produce things besides legalized Ponzi schemes.
***Bid half off peak comps***