House of the Day: 243 Kane Street
While we’re on vacation this week, we’re spotlighting some properties that have been on the market for a long time…After being purchased for $1,802,000 in June 2007, 243 Kane Street hit the market asking $2,950,000 in July; the price was increased in September to $3,400,000 and again in May 2008 to $4,075,000 before being reduced…
While we’re on vacation this week, we’re spotlighting some properties that have been on the market for a long time…After being purchased for $1,802,000 in June 2007, 243 Kane Street hit the market asking $2,950,000 in July; the price was increased in September to $3,400,000 and again in May 2008 to $4,075,000 before being reduced slightly to $3,995,000 in June. The price stayed there until the end of December when it was trimmed to its current asking price of $3,850,000. It’s an extra-wide house in a great Cobble Hill location but the renovation, while not corner-cutting by any means, strikes us as being as much of the problem as the price. It’s one of those neither-fish-nor-fowl jobs: The house has lost its historic charm but the look that replaced it is not successful enough in its modernism to make up for it. Do you agree?
243 Kane Street [Brown Harris Stevens] GMAP P*Shark
I would like to meet the person that bid 4.33 million and sell him or her things I find on the sidewalk.
Sorry – I misread the price. I was thinking that the ORIGINAL price of 2.9 wasn’t unreasonable for this house, in this market.
This house went on the market at the same time as a similar house a few feet away on Tompkins Place. The Tompkins house sold for $4.1M almost immediately, even though it had no central a/c and a smaller yard.
The Kane St. house has been under renovation for nearly a year. Part of the problem, i think, is that this house has been unoccupied since it was bought. No one lives in it now, and the furniture you see is staging. It also sits a house away from an abandoned house (#247).
The price shouldn’t be a problem, when you consider that a house about 5 doors away was bought (and ten extensively renovated) for $2.4M. that house is only 15 feet wide.
I don’t think the price is unreasonable – it is big, a “best block”, and zoned for ps29. It is, however, boring beyond belief, and cursed at it’s previous price. Everyone knows this house, and no one wants to see it anymore.
These flips never work. The design just comes off feeling cold and dead. Only when the reno is being done by or for people who’ve actually lived there, or at least plan to live there, does a house really take on a personality of its own.
Why would brownstoners even bother to post this? Not even funny!
The house is obviously worth less than the buyer paid for. Each time i’ll see some non sense like that, i’ll vote with the highest amount brownstoner is asking me what i think it’s worth.
This site is getting worth and worth, and so are the Jackass’s comments i waste my time reading daily. Now, i’m back to Streeteasy!
Edifice — I get it (as you can tell I don’t have central a/c).
bkny — I thought that at first (about the top floor having the double vanity), but that floor seems configrued more for a jack and jill arrangement between the front and back bedrooms. I guess you could have a master bedroom and then some sort fo study, but it seems like a waste. Again, the whole layout doesn’t make sense, but maybe someone else can explain the benefits of the set-up.
Boerumresident-These are Mitsubishi units hung on the wall. I don’t care for the look, don’t get me wrong they have their place, but at this price I would expect traditional ducted or high velocity A/C
Mopar, you’ll be fine as long as you let your MAN decide everything. hehe
M4L, you are obviously right on the money. It’s pure fantasy anyway. I am waiting for that special value charming wreck so I can destroy my marriage while renovating the house.
Posted by: Maly at May 26, 2009 2:50 PM
Ha ha ha! Hope this doesn’t happen to us. 🙂
Ediface, thanks for solving the price mystery.