House of the Day: 22 Sidney Place
This charming house at 22 Sidney Place in Brooklyn Heights just hit the market with a price tag of $2,750,000. The 17-foot-wide house has lots of original details and the modernized, ground-floor kitchen is also quite attractive. We’re liking both the location and feel of the house. (They’ve also got our coffee table!) What do…
This charming house at 22 Sidney Place in Brooklyn Heights just hit the market with a price tag of $2,750,000. The 17-foot-wide house has lots of original details and the modernized, ground-floor kitchen is also quite attractive. We’re liking both the location and feel of the house. (They’ve also got our coffee table!) What do you make of the asking price?
22 Sidney Place [Kevin Carberry] GMAP P*Shark
http://bstoner.wpengine.com/brownstoner/archives/2009/11/last_weeks_bigg_89.php
6100 sq ft went for 3.3mm renovated on sidney place
Yeah, really. What’s wrong with the kitchen? It’s homey and not dated. Much prefer it to a slick granite counter skating rink kitchen. Like this house very much.
My mom lived on Sidney Place in the early 1960s. She rented half a floor of a large brownstone for $80/month. She was making $100/week which was a bit of a milestone at the time. Wow, things were different back then! You could live in Brooklyn Heights and pay less that 25% of your income in rent. Ha.
I looked at pictures and don’t see any problem with kitchen. Perhaps not magazine stylish trendy let me show off kitchen but more simple and nice. I think house looks great as is. This is a bargain…a real home which shows some history not some sterile renovation where everything looks staged ready for photo op.
if a rennovated house “fancy shmancy renovation” as it was called here, was sold on the same street for $5xx per ft – here iss the link
http://nymag.streeteasy.com/nyc/sale/412876-multi-47-sidney-place-brooklyn-heights-brooklyn
i do not see this one selling for close to its ask but strange things do happen in this market
Back in the 1930s, my mother worked as a nanny/mother’s helper in the household of a German engineer and his family on Sidney Place. She remembered that the house next to the one she was living in was on the market at the time for $9,500. I asked her why she didn’t buy it (I was very young), and she told me that the price was ‘a fortune’ in those days.
you can’t compare Fort Greene to Brooklyn Heights. Sorry you just can’t.
Drumskin, I don’t know the full story on 47 Sidney since I don’t see a recorded deed, but even if did sell at $3.6M as you suppose, I wouldn’t rush to a simplistic PSF calculation to decide that this house won’t sell for more than $1.9M. As you yourself point out, the sizes of the houses are very different. You can’t straightline the value based on size – the incremental value from an extra floor or a rear extension is not the same on a PSF basis as the basic footprint of a regular sized house. Also, the types of houses are different – 47 Sidney is a 3-family (maybe used as 2) versus this 1-family. In my experience, 1-families get a higher premium in Brooklyn Heights – most people who can afford a multi-million $ house aren’t looking for the rental income and prefer no tenants. Sure, you can use the garden rental as a mother-in-law apartment, home office, etc. – but if you don’t NEED the rental apt. to carry the mortgage, why bother getting a 6,000sf house when a 3,500-4,500sf house is perfectly adequate? And if you buy a house set up as 3-family (even if used as 1 or 2), you either need to put up with inconvenient stair layout, or pay some renovation costs to get the layout more amenable to single-family living. There are plenty of reasons why a bigger house on this block would sell for “only” $580/sf and this house could still get a much higher price on a PSF basis.
Drumskin: It’s Brooklyn Heights! Check your comps and I think you’ll find this is not unrealistically priced for the neighborhood.
“modernized kitchen” ???
this house is average, great location but needs tons of work
houses on this street that go for 3-4mm are 4000-6000 sqft not 3400 (one sold in october under $580/sqft – 47 sidney )
renovated
this house wont sell anywhere near ask (or above)- more like 1.9mm
no wonder you are broke,developer