Rental of the Day: 162 Dean Street
This four-bedroom triplex rental at 162 Dean Street is looking pretty good to us! We love the three wood burning fireplaces, the windows, and the addition of the deck and garden. Renting it will set you back $10,000 a month, which isn’t cheap (it’s more than $3,000 per floor) but it also isn’t the most…
This four-bedroom triplex rental at 162 Dean Street is looking pretty good to us! We love the three wood burning fireplaces, the windows, and the addition of the deck and garden. Renting it will set you back $10,000 a month, which isn’t cheap (it’s more than $3,000 per floor) but it also isn’t the most expensive we’ve seen for a brownstone rental around this size. Do you think it could get close to ask? It’s been hanging out on the market for more than 70 days.
162 Dean Street [Douglas Elliman] GMAP P*Shark
8,000 (after -37.5% decline) – 1,200 = $6,800/mo for triplex in Stuy Heights. Still LMAO!
***Bid half off peak comps***
You have no idea what my effective rent is. With a LTV ratio of 40% and $1,200 coming in from the garden apt, I’m paying less than you can imagine!!!!! Actually less than a large one-bedroom.
But you can’t seem to understand the economics with your 10X rents rule of thumb-up-your-ass
grand army – That had crossed my mind, and I have the book. That’s probably what it is, but as I recall, tea rooms on the parlor floor where generally included in houses that were much longer (I might be misremembering) than this house. In any event, I’ll have to look up those standard layout pages from Bricks and Brownstone. great set up. My place is a little younger (early 1860s) so we have the long front parlor (about 30′ deep with fireplace centered on one wall) with the smaller back parlor that is about 15′ deep, with the fireplace on one wall. the back parlor originally extended the full width of the house, but we’ve done what many have and added a kitchen to one side, with dining taking up the other 2/3s. Works in a wide house ok, but the layout in this place is ideal imo.
“How’s that been working out for you????”
N/A. Haven’t bid in quite some time. Enjoying higher ground. Good thing you put more than 20% down on your digs. If you had to sell on your fifth year of ownership you’d walk away dry having only paid an effective rent (real money out minus real money in divided by 60) of say 8 grand/mo to live in Stuy Heights (LMAO!).
***Bid half off peak comps***
“and an abundance of opportunities to spur retail sales”
What do you mean by this?
Didn’t guarantee. Warned of risk. Consciously, you don’t know what the future holds, but subconsciously you see yourself eventually selling for a real gain. That’s the premise for buying in this hyped up market.
***Bid half off peak comps***
Absolutely LOVE that wall of windows across the rear wall of the dining room. Really gorgeous! But the tub floating in the middle of that large room I just don’t get at all.
1842: If you check out Charles Lockwood’s BRICKS AND BROWNSTONES, I’m pretty sure it says that rear room was originally called a “tea room” and is fairly typical of earlier brownstones and rowhouses from the 1840s – 50s. It can be found in houses in Boerum Hill, Cobble Hill, the West Village etc. Sometimes it was fully enclosed, sometimes it was open (essentially a large porch) but over the years they usually became enclosed. There’s one in the reconstructed Roosevelt family house on E. 20th St. The design fell out of fashion later in the 19th century — more’s the pity if you ask me since it makes for a terrific layout, as Dave points out.
***Bid half off peak comps***
How’s that been working out for you????
BWAHAHAHAHAHAHAHAHAHAHAHAHA
“BHO, your calculations need a little work.”
Yeah, deflation will likely take rents down over those five years, widening the spread even more in favor of renting. I already admitted exclusion of misc costs/credits (cancel themselves out at best, deficit at worst).
In this deflationary environment, cash under a mattress (literally) effectively earns interest.
***Bid half off peak comps***