House of the Day: 78 3rd Place
When did average-sized houses in Carroll Gardens start being worth over $3 million? Whenever it was, we didn’t get the memo. Last month, it was 44 1st Place, a generally attractive but inconsistent four-story house asking $3,842,500. (One reader wrote us a particularly nasty email about our stance on that post.) Now it’s 78 3rd…
When did average-sized houses in Carroll Gardens start being worth over $3 million? Whenever it was, we didn’t get the memo. Last month, it was 44 1st Place, a generally attractive but inconsistent four-story house asking $3,842,500. (One reader wrote us a particularly nasty email about our stance on that post.) Now it’s 78 3rd Place, a 3,100-square-foot, three-story brick that, while 23-feet-wide and full of charm, doesn’t feel like it’s worth quite $3,495,000. Are we just out of touch with the Carroll Gardens market or sellers overreaching?
78 3rd Place [Corcoran] GMAP P*Shark
78 3rd place is re-priced a second time at $2.7mil, down another 250k and down 795K from the original ask back on jan 8th
Where the hell is Carroll Gardens?
230 Degraw was WAY over 4000 sq ft, 25′ wide, AND had more than 3000 unused FAR.
230 Degraw is a little over 4000 sq ft and sold for 3.4 million.
78 Third Place has already been re-priced at $2.95M – 15% haircut in less than a week – ouch!
^^Yes, that 2nd Place house is also ridiculously overpriced. I agree that both houses will sit for a long time. I guess sellers don’t really need to sell.
This HOTD is just ludicrous. Do you realize that for less than $200K more you can get a 5000 sq. ft. 21″ wide 1-family limestone mansion on 1st Street & PPW (new Prudential listing)? There is no question which would be a better investment. I truly think brokers and sellers think buyers are plain stupid. There is no other explanation.
Has anyone noticed corcoran’s new listing 40 2nd Place? We put in a bid on this place a little over 3 years ago, but were not quite willing to go for the ask of $1.7m. It went for the $1.7m – according to property shark november 22, 2004. They are now asking $2.8m. So two things:
1 – 40 2nd Place is a very lovely house & while only 15 feet wide, it is quite deep at 48 feet. I would MUCH rather have that over the $3.45 m place, even at this ridiculous price. it is already a one-family & is quite beautifully done & laid out.
2 – HOWEVER, just to look at this carefully — this means they are asking for 65% more than what the house went for just over 3 years ago. And at the time, there was no huge bidding war for that place – there were two bidders – us and the ones who got it. it was not even a one round, sealed bidding situation — so it was a stretch at that price. the question I ask is: have INCOMES gone up 65% in 3 years? Has that neighborhood become that much (or ANY) better than it was back then? And back then, all you had to do was tell somebody a guesstimate of your income & you got a mortgage. Obviously not the case now – since mortgages now have to be real (and actually related to actual income), prices are going to have to be real (and actually related to actual income). I am going to enjoy watching both of these houses sit.
Has anyone noticed corcoran’s new listing 40 2nd Place? We put in a bid on this place a little over 3 years ago, but were not quite willing to go for the ask of $1.7m. It went for the $1.7m – according to property shark november 22, 2004. They are now asking $2.8m. So two things:
1 – 40 2nd Place is a very lovely house & while only 15 feet wide, it is quite deep at 48 feet. I would MUCH rather have that over the $3.45 m place, even at this ridiculous price. it is already a one-family & is quite beautifully done & laid out.
2 – HOWEVER, just to look at this carefully — this means they are asking for 65% more than what the house went for just over 3 years ago. And at the time, there was no huge bidding war for that place – there were two bidders – us and the ones who got it. it was not even a one round, sealed bidding situation — so it was a stretch at that price. the question I ask is: have INCOMES gone up 65% in 3 years? Has that neighborhood become that much (or ANY) better than it was back then? And back then, all you had to do was tell somebody a guesstimate of your income & you got a mortgage. Obviously not the case now – since mortgages now have to be real (and actually related to actual income), prices are going to have to be real (and actually related to actual income). I am going to enjoy watching both of these houses sit.
Do residents of Manhattan argue over whether the Village is better than Soho….
What is wrong with some of you people???? Such a waste of time. I love the vibe in CG, small town feeling. Park Slope is great too. I could think of numerous positives for all Bklyn neighborhoods. Take this attitude elsewhere. It is not very becomingj; certaintly not cool and not reflective of someone who loves Brooklyn and the overall City.