St. James Folly: You Want What For That House?
Speaking of posts writing themselves, here’s an open-house report from two weekends ago from someone you all know as Mr. Minerva. We just happened to have snapped a photo of the scene outside the open house, so we’re in business: I’ve been meaning to mention to you the craziest open house in the world. I…
Speaking of posts writing themselves, here’s an open-house report from two weekends ago from someone you all know as Mr. Minerva. We just happened to have snapped a photo of the scene outside the open house, so we’re in business:
I’ve been meaning to mention to you the craziest open house in the world. I really wish I had had a camera – and a tape recorder – for this one! It was 156 St. James, one of four super-narrow 12-foot wide houses just north of Gates on the west side of the street. The two southern ones have been beautifully restored with very high wood stoops. The two northern ones are TOTAL disasters. Property Shark puts the square footage at just under 1,700. The beautifully restored ones are probably worth about $1 million.
Number 156, however, was a DISASTER – 6′ 6″ ceilings on the bottom floor (not including where it’s even lower to accomodate plumbing drop-downs), cramped, stair-case railings made of hammered together 2x3s (bent over nails & all) and did I mention it’s cramped? One 4/5 bath (has a tub, but a 3/4 size one) and a 1/2 bath in the master bedroom – I’m talking literally a standup shower stall in the corner of the room and a sink by the bed. Nothing historical whatsoever. Vinyl siding that is falling off, etc, etc, etc. It was a total mess (filthy) and a disaster (do I need to say that again?).
The current owner paid $470,000 in 2003, but if he had done what his neighbors had done and put half a million dollars into it, he’d have a million dollar house. I nearly shit myself when I heard they were asking $950,000. The part where I wished I had a tape recorder? Many brokers in this market are quick to say that the owners are willing to consider offers. So was this guy, which briefly interjected a moment of relief into my thinking, until the broker quickly added that he was willing to consider an offer – so long as it is over $900,000. Oh. Okay. That makes all the difference!
Glad to see the bubble is alive and well. GMAP
The back of this house faces 483 Washington (the PACC debacle), so perhaps there are rats. That said, I have never seen rats on St. James and would find it a surprise if they did co-exist with the beautifully restored houses next door. Re-done, the inside of this house could be a beauty. And that’s precisely what the selling broker didn’t get – he was earnestly trying to sell the interior on its merits (i.e., after a long day at work, come home and take a shower in your bedroom!!).
Brownbomber, the listing that you posted only points to condos in one building and it’s actually a bit of a toss up….they’re equal in my book. On the one hand you have busy, noisy, commercial myrtle ave; on the other you have a quiet tree lined street with models and actors and rock stars(:> living around the corner. I think it would help if brownstoner had a photo of the 4 houses that are being discussed here. I don’t know what the insides of 154 (or 156) looks like. Not sure if gut renov is required. Maybe not.
I personally prefer townhouses over a condos, if they’re priced similarly.
re: the poster trying to put lipstick on this pig based on condo prices in FG: I hope you’re right, because then my smallish, recently gut-reno’ed house near 5th Ave in lower slope is worth a zillion gajiliion dollars. (which it is not.)
either that, or I need to sell it and buy a rat-ridden, claustrophobic-making teardown on st. james, as apparently all the fancy people are doing nowadays.
I think BrownBomber is right about the apartment prices. You could find a 3BR, good condition apartments in FG/CH for under 1MM. New construction is sometimes priced higher (for the penthouse).
Corcoran has a bunch of condo listings with similar specs.
Also check NY Times listings and you will find about 30 three bedroom condos in FG/CH under $900k and many as low as $500k.
http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=862914&CFID=67101&CFTOKEN=38276641
Brownbomber, I’m Anon 1:49, and I’m not the broker. Just merely commenting. I personally prefer townhouses to condos for all the reasons that I mentioned above. And if I had that much money to splurge on my primary home, I would prefer to buy the worst house on an established/stable block rather than a mint condo. But that’s just my personal take on things.
Rats and balloons… for the kids? Sold!
I’m the last poster. I don’t think I’ve seen many 3br condos ever on the market in the area. That’s why I’m asking. 2br at the most usually and not always very big.
While this does sound overpriced, can you really get a large 3 br condo with top of the line appliances and finishes in mint condition in FG/Clinton Hill for $900,000? I’m not being sarcastic, I’m asking. 3 real bedrooms, large, mint etc?