House of the Day: 345 Hoyt Street
Maybe we’re missing something, but we don’t see how the asking price for this three-story house at 345 Hoyt Street (at Carroll Street) in Carroll Gardens can be $2,150,000. Sure there’s a three-car garage and some unused FAR, but the interior appears to have been stripped of any original charm. As a point of reference,…
Maybe we’re missing something, but we don’t see how the asking price for this three-story house at 345 Hoyt Street (at Carroll Street) in Carroll Gardens can be $2,150,000. Sure there’s a three-car garage and some unused FAR, but the interior appears to have been stripped of any original charm. As a point of reference, the 2,880-square-foot single-family property sold for $1,275,000 in 2004. We’re not that far away from 2004 prices, are we? Maybe they’ll get $1,500,000, but this asking price seems nutso.
345 Hoyt Street [Corcoran] GMAP P*Shark
345 Hoyt Street [NY Times]
Isn’t corcoran out of business yet?
I think brokers will take an over-priced listing from a stubborn / stupid / delusional seller because they think the seller will eventually relent on the price. Like after the place has sat on the market for six month without a single offer.
Brokers have a lot less business now, so I think they will take whatever listings they can get.
212 Calyer in Greenpoint was purchased in 2001. When do you think it was renovated ? In 2008? Most likely it was renovated in 2001 when it was sold. I really doubt that the owner spent more than 200k to renovate this property. Let’s be generous and say that they did spend 360k for home and renovation. 8 years later they expect a 600k profit for a property that cannot even cover the mortgage ? Good luck!
That Greenpoint house does seem too high, but I like it. Also think the renovations were more than 150k.
Xander, Like anywhere else there are great people and turkeys. I had a wonderful agent sell my house in Cobble Hill last year which she found for me in 1996. There are lots of sellers that don’t follow the direction of the broker in setting the price or accepting an offer. I’ve seen a lot of it recently as I just bought a house after looking for a year.
While you guys are talking about crazy markups , check out this listing from sotheby’s. This Greenpoint home was purchased in 2001 for 160K and totally renovated. Gosh , even if it cost 150K to reno , you are talking about a 310k cash outlay. Now less than 10 years later , the owner is trying to more than triple their investment on a crappy Greenpoint framehouse. Just bonkers!!!!! It’s not even a brick home for crying out loud, GREED!!!!
http://www.sothebyshomes.com/nyc/sales/0134650
Well first I wouldn’t use Corcoran 90 percent of their agents are mouth breathing imbeciles and second an agent doesn’t get paid till the property closes so it’s his own damn fault for taking an overpriced listing in the first place and not trying to communicate to the seller that his price is unreasonable.
Xander Crews, Is there a broker out there that you would let control you? I have recently bid on 2 Corcoran properties and the sellers wouldn’t budge and believe me the Corcoran broker didn’t want to sit there for the 18th open house. This is a major battle for brokers to convince sellers that it is a new world out there.
If the agent can not control his seller and explain that yes your piece of shit house isn’t work 2 million, maybe he should be selling cars or copy machines and not houses.